NASHVILLE, Tenn. (WTVF) — A new proposal in the Tennessee legislature could provide some of the money to build a new Titans stadium.
Under the idea, Metro Nashville could choose to increase the hotel/motel tax by up to 1%.
A legislative committee heard the proposal this week, with the sponsorship of two Nashville Democrats. State Rep. Bill Beck, D-Nashville, said it could raise about $10-20 million per year and would last for 30 years.
Also, since it's a tax on short-term stays, lawmakers believe it would mean visitors who would help pay for the stadium.
"They're going to be watching our games, be here for the events in the arena, be there for the home games," Beck said. "They're going to help us pay for this property and this improvement."
The potential law comes with certain conditions. Nashville could only use the increased money for a new stadium. It would have to have a dome and be able to seat at least 50,000 people.
So far, it's seen bipartisan support. Top leaders said a new stadium would allow Nashville to hold large events year-round and could even lead to championship sporting events to be held in the city.
"I think that's a good thing," said Lt. Gov. Randy McNally. "It will bring business in and hopefully balance itself out with the increase in sales tax throughout the city when the Titans come to town."
So far, the bill has passed through a subcommittee in the House. Rep. Beck said there's already support from hotel groups and from some city leaders.
