The home of the “Granddaddy of Them All” may be getting an upgrade in the near future.

On Sunday, Gov. Gavin Newsom signed into law Senate Bill 96, the Historic Venue Restoration and Resiliency Act, for which the Rose Bowl Stadium & Legacy Foundation has been lobbying for several months, the organization said in a news release.

The Pasadena stadium, which celebrates its 101st birthday this month, has been designated a National Historic Landmark, but to “keep up with modern-day safety standards and expectations, there are significant compliance requirements,” the release said.

To meet that need, SB 96 provides “a portion of sales and use taxes generated at the Rose Bowl Stadium on major event days to be reinvested back into the site for restoration, infrastructure, safety, security, and maintenance purposes,” the release added.

Other venues are also beneficiaries of the bill, said state Sen. Anthony Portantino (D-Burbank), who authored the bill.

Any structure that meets seating requirements, has been used for live performances for more than 50 continuous years, was built before 1940 and has been designated as National Historic Landmark is eligible, which Portantino noted includes such venues as the Hollywood Bowl and Berkeley’s Cal Memorial Stadium. The provision sunsets in five years, at which point it can be renewed.

“These venues have been critical to California’s culture and economy for over a century,” Portantino said in a statement. “In order to keep them thriving we need to invest in them so they can continue to do what they do best – entertain and enlighten us.”

In the release, L.A. County Supervisor Kathryn Barger described the new law as “huge.”

“Undeniably, time and use take their toll on our historic venues,” she said. “We must be intentional about keeping them well-maintained, secure, and safe for all. I couldn’t be more pleased.”