II
119THCONGRESS
1
STSESSION S. 1192
To amend the Internal Revenue Code of 1986 to ensure that bonds used
to finance professional stadiums are not treated as tax-exempt bonds.
IN THE SENATE OF THE UNITED STATES
MARCH27, 2025
Mr. L
ANKFORD(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 Representa-1
tives of the United States of America in Congress assembled, 2
SECTION 1. SHORT TITLE. 3
This Act may be cited as the ‘‘No Tax Subsidies for 4
Stadiums Act of 2025’’. 5
SEC. 2. NO TAX-EXEMPT BONDS FOR PROFESSIONAL STA-6
DIUMS. 7
(a) I
NGENERAL.—Section 103(b) of the Internal 8
Revenue Code of 1986 is amended by adding at the end 9
the following new paragraph: 10
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•S 1192 IS
‘‘(4) PROFESSIONAL STADIUM BOND .—Any pro-1
fessional stadium bond.’’. 2
(b) P
ROFESSIONALSTADIUMBONDDEFINED.—Sec-3
tion 103(c) of such Code is amended by adding at the end 4
the following new paragraph: 5
‘‘(3) P
ROFESSIONAL STADIUM BOND .—The 6
term ‘professional stadium bond’ means any bond 7
issued as part of an issue any proceeds of which are 8
used to finance or refinance capital expenditures al-9
locable to a facility (or appurtenant real property) 10
which, during at least 5 days during any calendar 11
year, is used as a stadium or arena for professional 12
sports exhibitions, games, or training.’’. 13
(c) E
FFECTIVEDATE.—The amendments made by 14
this section shall apply to bonds issued after the date of 15
the enactment of this Act. 16
Æ
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