AN ACT CONCERNING THE TRANSFER AND RENOVATION OF THE XL CENTER.

HB 5819 eliminates state funding for the XL Center and requires its transfer to a private entity that commits to renovating the facility using only private funds, demonstrating sufficient financial resources. The bill directly affects the state (by ending state spending) and potential private developers (who must secure renovation financing without public money). Its key mechanism mandates that the property cannot be transferred until a private party proves they can renovate it independently, with the goal of restoring the venue to the property tax base. The bill’s purpose is to prevent further state expenditure on the facility while enabling private investment for its renewal.