No Tax Subsidies for Stadiums Act
- Last Action
- 2/1/2017
Actions
- 2017-02-01Referred to the House Committee on Ways and Means.
- 2017-02-01Introduced in House
- 2017-02-01Introduced in House
CRS Summary
As of 2017-02-01 (00)
No Tax Subsidies for Stadiums Act
This bill amends the Internal Revenue Code, with respect to the tax exemption requirements for state and local bonds, to specify that bonds issued to finance professional sports stadiums meet the private security or payment test. (A state or local bond that satisfies both the private business use test and the private security or payment test is considered a private activity bond that is taxable unless it is used for certain qualified private activities.)
Cosponsors (16)
- Mark Meadows (R-NC)
- EARL BLUMENAUER (D-OR)
- TIM RYAN (D-OH)
- Matt Gaetz (R-FL)
- Donald Beyer (D-VA)
- Ralph Norman (R-SC)
- Steven Palazzo (R-MS)
- Ro Khanna (D-CA)
- Jamie Raskin (D-MD)
- Karen Handel (R-GA)
- WALTER JONES (R-NC)
- Ralph Abraham (R-LA)
- Mike Kelly (R-PA)
- Jim Jordan (R-OH)
- Carlos Curbelo (R-FL)
- Paul Gosar (R-AZ)
Subjects
- Income tax exclusion
- Professional sports
- Securities
- Sports and recreation facilities
- State and local finance
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.