Wisconsin § 16.09 - Grant to a local professional baseball park district; short-term loans.

§ 16.09. Grant to a local professional baseball park district; short-term loans.

16.09(1) (1) Public purpose. The legislature finds and determines that baseball park facilities encourage economic development and tourism in this state, reduce unemployment in this state, preserve business activities within this state, generate additional tax revenues that would not exist without the baseball park facilities, and bring needed capital into this state for the benefit and welfare of people throughout the state. It is therefore in the public interest and serves a statewide public purpose, and it is the public policy of this state, to assist a local professional baseball park district created under subch. III of ch. 229 in the development, construction, improvement, repair, and maintenance of baseball park facilities. 16.09(2) (2) Definitions. In this section: 16.09(2)(a) (a) “Baseball park facilities” has the meaning given in s. 229.65 (1) . 16.09(2)(b) (b) “District” has the meaning given in s. 229.65 (5) . 16.09(2)(c) (c) “Gap payment” means payment of the amount specified in sub. (3) (a) , which is intended to substantially equal the total estimated taxes imposed under ch. 71 in calendar years 2021, 2022, and 2023 on the payroll of the professional baseball team and of visiting professional baseball franchises using the professional baseball park facilities. 16.09(2)(d) (d) “Professional baseball team” has the meaning given in s. 229.65 (6m) . 16.09(3) (3) Grant. Subject to sub. (4) , the department shall award a grant to a district to assist in the development, construction, improvement, repair, and maintenance of baseball park facilities. The grant shall consist of the following: 16.09(3)(a) (a) The gap payment of $35,800,000 upon execution of the lease and nonrelocation agreements satisfying s.