S.952 - Stadium Financing and Franchise Relocation Act of 1999106th Congress (1999-2000)
|Sponsor:||Sen. Specter, Arlen [R-PA] (Introduced 05/04/1999)|
|Committees:||Senate - Judiciary|
|Latest Action:||09/13/1999 Committee on the Judiciary. Hearings held in and concluded in Philadelphia, PA. With printed Hearing: S.Hrg. 106-484. (All Actions)|
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Summary: S.952 — 106th Congress (1999-2000)All Bill Information (Except Text)
Introduced in Senate (05/04/1999)
Stadium Financing and Franchise Relocation Act of 1999 - Rewrites the Sports Broadcasting Act to exempt from the antitrust laws any joint agreement: (1) by or among persons engaging in or conducting the organized professional team sports of football, baseball, basketball, or hockey by which any league of clubs participating in that professional sport sells or otherwise transfers all or part of the rights of that league's member clubs in the sponsored telecasting of games; (2) by which the member clubs of two or more professional football leagues that are exempt from taxation combine their operations in an expanded single league that is exempt from income tax, if that agreement increases the number of professional football clubs operating and contains provisions that are directly relevant to the combination of operations for such league; or (3) by which any league of clubs participating in such a professional sport denies a member club the right to transfer the location of the franchise of that member club.
Conditions the exemption, with respect to a football league or major league baseball league, on the football league or major league baseball clubs involved agreeing to meet specified requirements, including the establishment of a special trust fund into which the league will deposit ten percent of the amounts received under the joint agreement for the sale or transfer of the rights in sponsored telecasting of games to finance the construction or renovation of playing facilities, upon request of a local governmental entity.