Bill Details
HR.2434 - 119th Congress
Status
Latest action
2025-03-27 - Referred to the House Committee on Ways and Means.
Introduced Date
2025-03-27
Policy Area
Taxation
Committees
View committees (1)
Sponsors
Cosponsors
View cosponsors (1)
7
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AI Summary This summary was generated by AI from the bill text. AI can get information wrong.
This bill would stop federal tax breaks for bonds used to build or improve professional sports stadiums and arenas. In simple terms, if a state or local government issues bonds to help pay for a professional stadium, those bonds would no longer be treated as tax-exempt. That means investors could not get the usual federal tax advantage from these bonds, which is meant to reduce the cost of borrowing for the project. The change is aimed at ending taxpayer-supported financing for stadiums used by professional teams.
- It adds a new rule to the tax code saying bonds for professional stadiums are not tax-exempt bonds.
- A “professional stadium bond” is any bond where the money is used to build, rebuild, or refinance a facility tied to a stadium or arena for professional sports.
- The rule applies to places used at least 5 days in a year for professional sports games, exhibitions, or team training.
- The change would only apply to bonds issued after the bill becomes law.
Official Summaries
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Current Full Text
[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2434 Introduced in House (IH)]
<DOC>
119th CONGRESS
1st Session
H. R. 2434
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 HOUSE OF REPRESENTATIVES
March 27, 2025
Mr. Grothman (for himself and Mr. Beyer) introduced the following bill;
which was referred to the Committee on Ways and Means
_______________________________________________________________________
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.
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