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HR 1843 104th Congress House Government Operations and Politics Appropriations District of Columbia Economics and Public Finance Finance and Financial Sector Income tax Loans Municipal budgets Municipal finance Municipal taxation Public debt Sports and Recreation Stadiums Surety and fidelity Tax-exempt securities Taxation

District of Columbia Sports Arena Financing Act of 1995

Introduced: June 14, 1995 Introduced by: Norton, Eleanor Holmes Democratic · District of Columbia See on congress.gov
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 Everywhere this bill has been 5 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 25, 1995
Sponsor introductory remarks on measure. (CR E1510)
Jul 12, 1995
Subcommittee Hearings Held.
Jun 19, 1995
Referred to the Subcommittee on District of Columbia.
Jun 14, 1995
Referred to the House Committee on Government Reform and Oversight.
Jun 14, 1995
Introduced in House
 Plain-English summary Congressional Research Service

District of Columbia Sports Arena Financing Act of 1995 - Authorizes an agency or instrumentality to borrow funds to develop and construct a sports arena in the District of Columbia if it is granted such authority by the District government.

Prohibits such debt from: (1) being considered a general obligation debt of the District for any purpose; (2) constituting the lending of the public credit for private undertakings for purposes of the District of Columbia Self-Government and Governmental Reorganization Act; and (3) being a pledge of, or involve the full faith and credit of, the District.

Permits the District and such agency or instrumentality to pledge as security for any borrowing undertaken pursuant to this Act any District revenues which are attributable to the sports arena tax. Excludes such pledged revenues from the formula used to calculate the annual aggregate limit on the District's debt.

Allows the following activities to be carried out without the enactment of appropriations by the Congress: (1) proceeds of any borrowing conducted pursuant to this Act; (2) pledging of revenues as security for such borrowing; and (3) payment of principal, interest, or other costs associated with such borrowing.

What's happening now July 25, 1995

Sponsor introductory remarks on measure. (CR E1510)

 Committees of jurisdiction 2