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.

Fact Sheet API

Bill Number

S 1242

Introduced

Apr 30, 2019

Latest Action

Read twice and referred to the Committee on Finance.

Sponsor

Cosponsors

Topics

Income tax exclusion Interest, dividends, interest rates Professional sports Securities Sports and recreation facilities State and local finance Taxation

Full Text

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Votes

Summary

This bill prohibits a professional stadium bond from being treated as a tax-exempt state or local bond. A "professional stadium bond" is used to finance or refinance a facility or real property used as a stadium or arena for professional sports exhibitions, games, or training.

Actions

Apr 30, 2019

Read twice and referred to the Committee on Finance.
Apr 30, 2019

Introduced in Senate

Amendments

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