Backup Plans Proposed to Fund Vikings Stadium

By KBJR News 1

Backup Plans Proposed to Fund Vikings Stadium

May 16, 2013 Updated May 16, 2013 at 3:06 PM CST

St. Paul, MN (NNCNOW.com) - A plan to help pay for the state's share of the new Vikings Stadium could come from the proposed tax hike on cigarettes.

The idea hatched by Governor Mark Dayton comes in response to the lack of funding progress with electronic pulltab machines.

Right now there is a $12 million shortfall for the next two years.

The proposal calls for dipping into a one-time revenue source that will come from current cigarette inventories when the tax hike goes into effect.

"The new funding source would provide an immediate $24.5 million into the stadium reserve to eliminate that immediate shortfall and also be available in the future," said Dept. of Revenue commissioner Myron Frans.

Governor Mark Dayton is supporting a cigarette tax increase of $1.23 per pack.

A third backup revenue source would involve closing some corporate loopholes.

Kevin Jacobsen
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