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No Tax Subsidies for Stadiums Act of 2025
To amend the Internal Revenue Code of 1986 to ensure that bonds used to finance professional stadiums are not treated as tax-exempt bonds.
Summary
This bill would amend the Internal Revenue Code to prevent bonds used to finance professional sports stadiums from being issued as tax-exempt bonds. A professional stadium bond would be defined as any bond used to finance or refinance capital expenditures for a facility (or related property) used as a stadium or arena for professional sports exhibitions, games, or training at least 5 days per calendar year. The change would apply only to bonds issued after the bill's enactment, eliminating a federal tax incentive that has been used to help fund stadium construction and renovation projects.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Sen. Lankford, James [R-OK] (R-OK)
1 cosponsor
- Sen. Booker, Cory A. [D-NJ] (D-NJ)
Actions (2)
- Mar 27, 2025 Read twice and referred to the Committee on Finance. · senate
- Mar 27, 2025 Introduced in Senate
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Full text
IN THE SENATE OF THE UNITED STATES
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
A BILL
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 bond’ means 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. <all>
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