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S 1242 116th Congress Senate Taxation Income tax exclusion Interest, dividends, interest rates Professional sports Securities Sports and recreation facilities State and local finance

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.

Introduced: April 30, 2019 Introduced by: Booker, Cory A. Democratic · New Jersey See on congress.gov
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This bill died when the 116th Congress ended
It never became law before the 116th Congress (2019–2020) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 30, 2019
Read twice and referred to the Committee on Finance.
Apr 30, 2019
Introduced in Senate
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 Plain-English summary Congressional Research Service

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.

What's happening now April 30, 2019

Read twice and referred to the Committee on Finance.

 Related & companion bills 1
  • HR 2446 Related bill No Tax Subsidies for Stadiums Act of 2019
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1
R
Lankford, James
Oklahoma · Apr 30, 2019
Cite this page click to expand
APA
U.S. Congress. (2026). S. 1242: 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.. 116th Congress. Open America. https://openamerica.io/bill/116-S-1242/
MLA
"S. 1242: 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.." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-S-1242/.
Bluebook (legal)
S. 1242, 116th Cong. (2026), https://openamerica.io/bill/116-S-1242/.
Markdown link
[S. 1242: 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.](https://openamerica.io/bill/116-S-1242/)
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