S.1192 - No Tax Subsidies for Stadiums Act of 2025 (119th Congress)
Summary
The "No Tax Subsidies for Stadiums Act of 2025" aims to amend the Internal Revenue Code of 1986 to prevent professional sports stadiums from being financed with tax-exempt bonds. This bill, introduced in the Senate, specifically targets the use of public funds for private sports facilities. The core provision of the bill modifies Section 103 of the Internal Revenue Code to classify bonds used for professional stadiums as non-tax-exempt.
Expected Effects
If enacted, the bill would increase the cost of financing new stadiums and renovations for professional sports teams. This could lead to fewer publicly funded stadium projects. It may also shift the financial burden of stadium construction more towards team owners and private investors.
Potential Benefits
- Reduces the use of public funds for private sports ventures.
- Potentially frees up tax revenue for other public services and infrastructure.
- Promotes fiscal responsibility by limiting tax-exempt financing.
- May encourage more private investment in sports facilities.
- Could lead to more transparent and equitable allocation of public resources.
Most Benefited Areas:
Potential Disadvantages
- Could hinder stadium development and renovation projects.
- May increase costs for sports teams and potentially ticket prices for fans.
- Could lead to teams threatening to relocate if public funding is not available.
- May face opposition from sports leagues, team owners, and local communities seeking economic benefits from stadiums.
- Could be seen as government overreach into private sector investments.
Most Disadvantaged Areas:
Constitutional Alignment
The bill appears to align with the general principles of fiscal responsibility, although the Constitution does not explicitly address tax-exempt bonds or stadium financing. Congress has broad authority under Article I, Section 8 to lay and collect taxes, duties, imposts, and excises, to pay the debts and provide for the common defense and general welfare of the United States. This bill falls under Congress's power to regulate taxation.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).