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Sonics funding plan
Senate Bill 5986 would extend several taxes paying off existing sports stadiums to fund a new arena, arts groups and stadium maintenance.
Sales taxes: A .017 percent sales tax for Safeco Field debt would be extended by 17 years, to 2029, raising $150 million. A separate .016 percent sales tax for Qwest Field debt would be extended by eight years, to 2029, raising $77 million.
Restaurant tax: A 0.5 percent tax on restaurant meals and drinks for Safeco Field debt would remain until 2015, raising $75 million.
Car rental taxes: A 2 percent car-rental tax for Safeco Field debt, and another 0.75 percent car-rental tax for Kingdome debt, would be extended until 2012, raising $40 million.
Hotel/motel tax: After Qwest Field debt is paid off in 2021, a 2 percent tax on hotel- and motel-room rentals would be split between the new arena and arts groups, raising $81 million.
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