Local government: professional sports franchises.

Existing law authorizes any agency, commission, or board provided for by a joint powers agreement to issue revenue bonds to pay the cost and expenses of acquiring or constructing a project or conducting a program for the purposes of a coliseum, a stadium, a sports arena or sports pavilion or other building for holding sports events, athletic contests, contests of skill, exhibitions, spectacles, and other public meetings, among others. This bill would state the intent of the Legislature to enact legislation that will require a study of the impact of local government incentives to recruit, retain, and maintain professional sports franchises in California cities and counties and the impact of losing professional sports franchises upon localities which have incurred debt to recruit, retain, and maintain those professional sports franchises.