NASHVILLE, Tenn. (WTVF) — A new proposal in the Tennessee legislature could give some of the money to develop a new Titans stadium.
Under the concept, Metro Nashville could pick to improve the hotel/motel tax by up to 1%.
A legislative committee read the proposal this week, with the sponsorship of two Nashville Democrats. Condition Rep. Invoice Beck, D-Nashville, claimed it could elevate about $10-20 million for every year and would past for 30 a long time.
Also, considering the fact that it can be a tax on limited-term stays, lawmakers feel it would suggest website visitors who would help pay back for the stadium.
“They’re heading to be viewing our games, be right here for the functions in the arena, be there for the dwelling online games,” Beck claimed. “They are going to aid us fork out for this assets and this enhancement.”
The potential regulation arrives with specific problems. Nashville could only use the amplified cash for a new stadium. It would have to have a dome and be able to seat at least 50,000 folks.
So significantly, it really is viewed bipartisan guidance. Prime leaders stated a new stadium would permit Nashville to keep significant situations 12 months-spherical and could even direct to championship sporting gatherings to be held in the metropolis.
“I think that’s a good issue,” explained Lt. Gov. Randy McNally. “It will provide business in and ideally balance by itself out with the boost in gross sales tax during the metropolis when the Titans arrive to city.”
So considerably, the bill has passed by way of a subcommittee in the Household. Rep. Beck claimed there is certainly currently aid from lodge groups and from some metropolis leaders.