About the bill
Since 2000, 36 sports stadiums have been constructed using $3.2 billion in federal tax subsidies. Check out the full list — maybe your favorite team or your hometown squad is there.
A new bill would end this practice.
It all stems from a provision in a 1986 tax reform bill, which accidentally created a loophole which allowed tax avoidance for many bonds used to finance sports stadiums.
The provision stated that such bonds could be tax-exempt if they were used for more than 90 percent of a stadium’s construction, under the logic that this would almost never happen. After all, most sports teams were owned by billionaires or multi-millionaires who would help front much of the costs.
However, the opposite happened, as taxpayers started paying for way ...
Sponsor and status
Sponsor. Senator for New Jersey. Democrat.
Last Updated: Jun 12, 2017
Length: 2 pages
What legislators are saying
“Senator Lankfords Office Releases 2017 Activity Report”
— Sen. James Lankford [R-OK] (Co-sponsor) on Jan 2, 2018
Jun 12, 2017
Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber.
S. 1342 (115th) was a bill in the United States Congress.
A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.
Bills numbers restart every two years. That means there are other bills with the number S. 1342. This is the one from the 115th Congress.
This bill was introduced in the 115th Congress, which met from Jan 3, 2017 to Jan 3, 2019. Legislation not passed by the end of a Congress is cleared from the books.
How to cite this information.
We recommend the following MLA-formatted citation when using the information you see here in academic work:
GovTrack.us. (2021). S. 1342 — 115th Congress: Eliminating Federal Tax Subsidies for Stadiums Act of 2017. Retrieved from https://www.govtrack.us/congress/bills/115/s1342
“S. 1342 — 115th Congress: Eliminating Federal Tax Subsidies for Stadiums Act of 2017.” www.GovTrack.us. 2017. June 24, 2021 <https://www.govtrack.us/congress/bills/115/s1342>
Eliminating Federal Tax Subsidies for Stadiums Act of 2017, S. 1342, 115th Cong..
|title=S. 1342 (115th)
|accessdate=June 24, 2021
|author=115th Congress (2017)
|date=June 12, 2017
|quote=Eliminating Federal Tax Subsidies for Stadiums Act of 2017
Where is this information from?
GovTrack automatically collects legislative information from a variety of governmental and non-governmental sources. This page is sourced primarily from Congress.gov, the official portal of the United States Congress. Congress.gov is generally updated one day after events occur, and so legislative activity shown here may be one day behind. Data via the congress project.