Industry, CA (My Sportsbook) - Legislation signed Thursday by California Governor Arnold Schwarzenegger allowed the state and city of Los Angeles to move forward on building a 75,000-seat stadium in hopes of luring an NFL team back to LA.

While similar attempts to bring an NFL franchise back to the country's second largest media market have failed, the signing of an environmental exemption bill Thursday by Schwarzenegger realistically paves the way for construction and job creation to begin.

The Los Angeles stadium complex underwent an extensive environmental review and produced public backlash and a subsequent lawsuit from nearby residents centered around the environmental impact to the surrounding community. The bill, though, exempts activities associated with the building of the three million square foot complex from the California Environmental Quality Act.

"This is the best kind of action state government can create -- action that cuts red tape, generates jobs, is environmentally friendly and brings a continued economic boost to California," Schwarzenegger said at a news conference held to announce the latest development. "This legislation allows us to move forward with the construction of the nation's greenest football stadium and create thousands of jobs."

In addition to the stadium itself, construction is proposed for an orthopedic hospital, a movie and live performance theater and office and retail space. The $800 million project by developer Majestic Realty Co. is slated for the city of Industry, California, approximately 15 miles east of LA in the San Gabriel Valley.

Los Angeles has not had an NFL team to call its own since both the Rams and Raiders left town after the 1994 season. The Chargers had a brief stay in LA in 1960 in their inaugural season in the AFL. A team in Los Angeles would likely be an existing one that relocates from another city, as the league has kept a longstanding stance against further expansion.

Among the teams rumored to be targeted for a move to Los Angeles include the Buffalo Bills, Jacksonville Jaguars, Minnesota Vikings, St. Louis Rams, San Diego Chargers, Oakland Raiders and San Francisco 49ers.