(Rpld. 1/1/56)

1. A. Subject to subsection B of this section, the total amount of monies transmitted pursuant to section 42-1116, subsection D and sections 42-5032.03, 42-6018 and 42-6113 may not exceed $500,000,000.
2. B. Beginning from and after December 31, 2026 through December 31, 2055, the district treasurer shall annually increase the limit prescribed in subsection A of this section by three percent.
3. C. If the limit prescribed in subsection A of this section, as increased pursuant to subsection B of this section, is met, the district treasurer shall notify the state treasurer, the city or town in which the major league baseball facility is located and the department of revenue. On receipt of the notice, the state treasurer, the city or town in which the major league baseball facility is located and the department of revenue shall stop transmitting monies pursuant to section 42-1116, subsection D and sections 42-5032.03, 42-6018 and 42-6113.
4. D. The district treasurer shall return any monies transmitted pursuant to section 42-1116, subsection D and sections 42-5032.03, 42-6018 and 42-6113 over the limit prescribed in subsection A of this section, as increased pursuant to subsection B of this section, to the taxing jurisdiction from which the monies were generated.

5. E. If the professional baseball franchise organization that on or before September 26, 2025 occupies the major league baseball facility owned by the district and operated by the district or the professional baseball franchise organization leaves the major league baseball facility, the district treasurer shall:

   1. 1. Notify the state treasurer and the department of revenue that the professional baseball franchise organization left the major league baseball facility. On receiving the notice:

      1. (a) The state treasurer and the city or town in which the major league baseball facility is located may not continue to transmit monies pursuant to section 42-1116, subsection D and sections 42-5032.03, 42-6018 and 42-6113.

      2. (b) The state treasurer shall assess a penalty against the professional baseball franchise organization in an amount as follows:

         1. (i) $10,000,000 if the professional baseball franchise organization leaves the major league baseball facility on or before October 1, 2035.
         2. (ii) $5,000,000 if the professional baseball franchise organization leaves the major league baseball facility on or after October 2, 2035 and on or before October 1, 2045.
         3. (iii) $1,000,000 if the professional baseball franchise organization leaves the major league baseball facility on or after October 2, 2045 and before October 1, 2050.
      3. (c) The department of revenue shall stop separately accounting for the revenues that were subject to transmittal pursuant to section 42-1116, subsection D and sections 42-5032.03, 42-6018 and 42-6113.
   2. 2. Return any remaining monies transmitted pursuant to section 42-1116, subsection D and sections 42-5032.03, 42-6018 and 42-6113 that are unexpended and unencumbered to the taxing jurisdiction from which the monies were generated.
6. F. The state treasurer shall deposit, pursuant to sections 35-146 and 35-147, fifty percent of the amount of the penalty assessed pursuant to subsection E, paragraph 1, subdivision (b) of this section in the state general fund and shall distribute twenty-five percent of the amount of the penalty to the county in which the major league baseball facility is located and twenty-five percent of the amount of the penalty to the city or town in which the major league baseball facility is located.

7. G. The professional baseball franchise organization shall pay any remaining debts of the district relating to projects for reconstructing, equipping, repairing, maintaining or improving the major league baseball facility or any adjacent building that would have been paid for by the county stadium district fund established pursuant to section 48-4231 if either of the following occurs:

   1. 1. The professional baseball franchise organization that on or before September 26, 2025 occupies the major league baseball facility that is owned by the district and that is operated by the district or the professional baseball franchise organization leaves the major league baseball facility.
   2. 2. The legislature repeals the transmittal of monies pursuant to section 42-1116, subsection D and sections 42-5032.03, 42-6018 and 42-6113 before January 1, 2056 due to the failure of the professional baseball franchise organization to contribute financially to reconstructing, equipping, repairing, maintaining or improving the major league baseball facility or any adjacent building.