Committee Recommends $750M In Public Money Be Used For NFL Stadium
An oversight committee is recommending Nevada put $750 million in public money toward an NFL stadium for the Raiders in Las Vegas.
The approval Thursday from the Southern Nevada Tourism Infrastructure Committee is a major victory for the plan, which still needs approval from the governor and Legislature.
Stadium proponents including the Las Vegas Sands want to raise the hotel tax for a venue that's estimated to cost $1.9 billion. They don't want to return any profits to the public because they say they'll make little or no money on the 65,000-seat stadium.
Proponents want state lawmakers to meet and approve the deal as soon as possible so they can pitch it to NFL owners. Three-quarters of owners must approve of any team relocation.
They're expected to meet in January.