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Ending Federal Tax Exemptions for Professional Sports Stadium Bonds

This bill aims to stop the use of federal tax-exempt bonds for financing the construction or renovation of stadiums and arenas used by professional sports teams. This means local governments will no longer be able to use federal tax breaks to lower borrowing costs for these projects. If enacted, the cost of stadium construction will shift away from federal taxpayers, potentially increasing the financial burden on local municipalities and states.
Key points
Tax changes: Bonds issued to finance professional sports stadiums and arenas will no longer be treated as tax-exempt under federal law.
Impact on public finance: Reduces federal tax subsidies benefiting professional sports teams and their facilities.
Scope: Applies to facilities used for professional sports exhibitions, games, or training for at least 5 days during any calendar year.
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Expired
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Additional Information
Print number: 118_S_392
Sponsor: Sen. Lankford, James [R-OK]
Process start date: 2023-02-13
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Summarized by: gemini-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

No Tax Subsidies for Stadiums Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_392.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-02-13.

What are the main provisions?

Key points include:

  • Tax changes: Bonds issued to finance professional sports stadiums and arenas will no longer be treated as tax-exempt under federal law.
  • Impact on public finance: Reduces federal tax subsidies benefiting professional sports teams and their facilities.
  • Scope: Applies to facilities used for professional sports exhibitions, games, or training for at least 5 days during any calendar year.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Lankford, James [R-OK].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Taxes Public Investments Economy