Lawmakers Reviewing Rupp Arena Financing Proposal
Gov. Steve Beshear said Monday he’s trying to win support for a plan that calls for $80 million in state-backed bonds to help renovate the home of the University of Kentucky men’s basketball team. Officials from Lexington and UK are pressing their case with lawmakers.
Lawmakers refused to include $65 million in state-backed bonds in the two-year state budget that passed the General Assembly.
Beshear says the revised financing plan does not depend on letting Lexington officials increase their local hotel tax.
That proposal passed the House but has stalled in the Senate.