To amend the Internal Revenue Code of 1986 to disallow the issuance of tax-exempt bonds any proceeds of which are used to provide professional entertainment facilities.
No Tax Subsidies for Stadiums Act
This bill amends the Internal Revenue Code to prohibit the use of tax-exempt state and local financing bonds for a professional entertainment facility. A professional entertainment facility is a facility that is used during any five days in a calendar year as: (1) a stadium or arena for professional sports exhibitions, games, or training; or (2) a venue for any entertainment event which has a live audience exceeding 100 individuals and the net earnings from which benefit an individual or entity other than a governmental entity or a tax-exempt organization.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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