March 27, 2025
Mr. Lankford (for himself and Mr. Booker) introduced the following bill; which was read twice and referred to the Committee on Finance
To amend the Internal Revenue Code of 1986 to ensure that bonds used to finance professional stadiums are not treated as tax-exempt bonds.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
Section 1. Short title
This Act may be cited as the No Tax Subsidies for Stadiums Act of 2025
.
Sec. 2. No tax-exempt bonds for professional stadiums
(a) In general
Section 103(b) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph:
(4) Professional stadium bond
Any professional stadium bond.
(b) Professional stadium bond defined
Section 103(c) of such Code is amended by adding at the end the following new paragraph:
(3) Professional stadium bond
The term
professional stadium bondmeans any bond issued as part of an issue any proceeds of which are used to finance or refinance capital expenditures allocable to a facility (or appurtenant real property) which, during at least 5 days during any calendar year, is used as a stadium or arena for professional sports exhibitions, games, or training.
(c) Effective date
The amendments made by this section shall apply to bonds issued after the date of the enactment of this Act.