                                 CODE OF VIRGINIA

DEFINITIONS (§ 15.2-5928)

As used in this chapter, unless the context requires a different meaning:
		&#8220;City&#8221; or &#8220;City of Virginia Beach&#8221; means the City of
Virginia Beach, the City of Virginia Beach Development Authority, or any
community development authority formed by the City of Virginia Beach pursuant to
the provisions of Article 6 (§ 15.2-5152 et seq.) of Chapter 51 for the purpose
of developing the sports and entertainment district.
		&#8220;Sales and use tax revenues&#8221; means tax collections under the
Virginia Retail Sales and Use Tax Act (§ 58.1-600 et seq.), as limited herein,
generated by transactions taking place upon the premises of a sports or
entertainment project, including transactions generating revenues in connection
with the development and construction of such project that would not be
generated but for the existence of such project. For purposes of this chapter,
&#8220;sales and use tax revenues&#8221; does not include the revenue generated
by (i) the one-half percent sales and use tax increase enacted by Chapters 11,
12, and 15 of the Acts of Assembly of 1986, Special Session I, which shall be
paid into the Commonwealth Transportation Fund as defined in § 33.2-1524; (ii)
the one percent of the state sales and use tax revenue distributed among the
counties and cities of the Commonwealth pursuant to subsection D of § 58.1-638
on the basis of school-age population; and (iii) the additional state sales and
use tax in certain counties and cities assessed pursuant to Chapter 766 of the
Acts of Assembly of 2013 and any amendments thereto.
		&#8220;Sports and entertainment district&#8221; means the geographic area in
the City of Virginia Beach located south of 21st Street, north of Norfolk
Avenue, east of Birdneck Road, and west of the Virginia Beach Boardwalk.
		&#8220;Sports or entertainment project&#8221; means a project including sports
facilities, entertainment facilities, or both, representing at least $100
million of investment in the sports and entertainment district of the City of
Virginia Beach, including any office, restaurant, concessions, retail,
residential, and lodging facilities that are owned and operated adjacent to or
in connection with such sports or entertainment project; film and sound studios
and any other sports or entertainment-related infrastructure; and any other
directly related properties, including onsite and offsite parking lots, garages,
and other properties. &#8220;Sports or entertainment project&#8221; includes
multiple facilities located on multiple properties, provided that such
facilities share a nexus of ownership or management.

HISTORY: 2019, c. 793; 2020, cc. 467, 1230, 1275.