The failure of Senate Bill 501 in the Legislature Monday means all three proposals for stadium projects in Las Vegas will need to go back to the drawing board for financing.
Lobbyists for the Las Vegas arena proposals unsuccessfully spent the day trying to cut deals. SB501 contained three proposals for “facility districts” that would have diverted taxpayer money to help finance one of three potential stadium projects in Las Vegas, one near Mandalay Bay, another in downtown Las Vegas and a third on the University of Nevada, Las Vegas campus.
“The whole plan isn’t going to get through so I don’t know why they’re trying to get a sliver,” said one lobbyist following the action.
Nevada System of Higher Education Chancellor Dan Klaich said the development puts a damper on plans for the UNLV proposal.
“I wouldn’t just foreclose the possibility but I think that projects of this magnitude need this type of legislation,” Klaich said.
SB501 also contained provisions that could have helped generate money to finance venues that would help Reno attract the Winter Olympics.
The bill ran into trouble in the Assembly Taxation Committee, led by Assemblywoman Marilyn Kirkpatrick, D-North Las Vegas, where members were skeptical of the proposal
Contact reporter Benjamin Spillman at email@example.com or 702-477-3861.