SENATE BILL 483

Sponsored By:

Senators Teitelbaum, Pinsky, Derr, Dyson, and Van Hollen

Entitled:

Major League Athletic Franchises - Right of First Refusal When Sold

Synopsis:

Providing that when a major league athletic franchise located in the State is sold, the State has a right of first refusal to purchase the franchise; requiring the owner of a franchise that is being sold to send a copy of any bona fide offer received for the franchise to the Governor within 7 days after it is received; requiring the Governor to take specified actions in connection with the exercise of the State's right of first refusal; etc.

History by Legislative Date

Senate Action

2/6

First Reading Finance

2/11

Hearing 3/3 at 1:00 p.m.

2/26

Hearing cancelled

Hearing 3/10 at 1:00 p.m.

3/17

Unfavorable Report by Finance

House Action

No Action

Sponsored by:

Senator Leonard H. Teitelbaum, District 19

Senator John W. Derr, District 3

Senator Roy P. Dyson, District 29

Senator Paul G. Pinsky, District 22

Senator Christopher Van Hollen, Jr., District 18

Bill indexed under the following Subjects:

FRANCHISES

GOVERNOR

SPORTS -see also- RECREATION; STADIUMS

Bill affects the following Statute:

Financial Institutions

( 13-725 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled

Fiscal Note: Available (PDF)

Amendments: None offered