S 1342
115th Congress
Senate
Taxation
Income tax exclusion
Professional sports
Securities
Sports and recreation facilities
State and local finance
Eliminating Federal Tax Subsidies for Stadiums Act of 2017
Introduced: June 12, 2017
Introduced by:
Booker, Cory A.
Democratic
· New Jersey
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 12, 2017
Read twice and referred to the Committee on Finance.
Jun 12, 2017
Introduced in Senate
Plain-English summary
Eliminating Federal Tax Subsidies for Stadiums Act of 2017
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.)
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1
Cosponsors
1