| 1 | 1 | | II |
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| 2 | 2 | | 119THCONGRESS |
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| 3 | 3 | | 1 |
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| 4 | 4 | | STSESSION S. 1192 |
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| 5 | 5 | | To amend the Internal Revenue Code of 1986 to ensure that bonds used |
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| 6 | 6 | | to finance professional stadiums are not treated as tax-exempt bonds. |
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| 7 | 7 | | IN THE SENATE OF THE UNITED STATES |
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| 8 | 8 | | MARCH27, 2025 |
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| 9 | 9 | | Mr. L |
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| 10 | 10 | | ANKFORD(for himself and Mr. BOOKER) introduced the following bill; |
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| 11 | 11 | | which was read twice and referred to the Committee on Finance |
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| 12 | 12 | | A BILL |
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| 13 | 13 | | To amend the Internal Revenue Code of 1986 to ensure |
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| 14 | 14 | | that bonds used to finance professional stadiums are |
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| 15 | 15 | | not treated as tax-exempt bonds. |
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| 16 | 16 | | Be it enacted by the Senate and House of Representa-1 |
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| 17 | 17 | | tives of the United States of America in Congress assembled, 2 |
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| 18 | 18 | | SECTION 1. SHORT TITLE. 3 |
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| 19 | 19 | | This Act may be cited as the ‘‘No Tax Subsidies for 4 |
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| 20 | 20 | | Stadiums Act of 2025’’. 5 |
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| 21 | 21 | | SEC. 2. NO TAX-EXEMPT BONDS FOR PROFESSIONAL STA-6 |
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| 22 | 22 | | DIUMS. 7 |
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| 23 | 23 | | (a) I |
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| 24 | 24 | | NGENERAL.—Section 103(b) of the Internal 8 |
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| 25 | 25 | | Revenue Code of 1986 is amended by adding at the end 9 |
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| 26 | 26 | | the following new paragraph: 10 |
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| 27 | 27 | | VerDate Sep 11 2014 07:58 Apr 02, 2025 Jkt 000000 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S1192.IS S1192 |
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| 28 | 28 | | mprince on LAP1J3WLY3PROD with $$_JOB 2 |
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| 29 | 29 | | •S 1192 IS |
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| 30 | 30 | | ‘‘(4) PROFESSIONAL STADIUM BOND .—Any pro-1 |
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| 31 | 31 | | fessional stadium bond.’’. 2 |
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| 32 | 32 | | (b) P |
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| 33 | 33 | | ROFESSIONALSTADIUMBONDDEFINED.—Sec-3 |
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| 34 | 34 | | tion 103(c) of such Code is amended by adding at the end 4 |
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| 35 | 35 | | the following new paragraph: 5 |
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| 36 | 36 | | ‘‘(3) P |
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| 37 | 37 | | ROFESSIONAL STADIUM BOND .—The 6 |
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| 38 | 38 | | term ‘professional stadium bond’ means any bond 7 |
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| 39 | 39 | | issued as part of an issue any proceeds of which are 8 |
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| 40 | 40 | | used to finance or refinance capital expenditures al-9 |
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| 41 | 41 | | locable to a facility (or appurtenant real property) 10 |
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| 42 | 42 | | which, during at least 5 days during any calendar 11 |
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| 43 | 43 | | year, is used as a stadium or arena for professional 12 |
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| 44 | 44 | | sports exhibitions, games, or training.’’. 13 |
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| 45 | 45 | | (c) E |
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| 46 | 46 | | FFECTIVEDATE.—The amendments made by 14 |
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| 47 | 47 | | this section shall apply to bonds issued after the date of 15 |
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| 48 | 48 | | the enactment of this Act. 16 |
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| 49 | 49 | | Æ |
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| 50 | 50 | | VerDate Sep 11 2014 07:58 Apr 02, 2025 Jkt 000000 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\S1192.IS S1192 |
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| 51 | 51 | | mprince on LAP1J3WLY3PROD with $$_JOB |
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