119-s1192

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 1192 Introduced in Senate

    (IS) ]

<DOC>

119th CONGRESS
 1st Session
 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

 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.
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