H.R. 4838 · 114th Congress
No Tax Subsidies for Stadiums Act
- Stage
- In committee
- Sponsor
- Steve Russell
- Introduced
- 2016-03-22
- Latest action
- 2016-03-22 · Introduced in House
Summary
No Tax Subsidies for Stadiums Act
This bill amends the Internal Revenue Code to prohibit the use of tax-exempt state and local financing bonds for a professional entertainment facility. A professional entertainment facility is a facility that is used during any five days in a calendar year as: (1) a stadium or arena for professional sports exhibitions, games, or training; or (2) a venue for any entertainment event which has a live audience exceeding 100 individuals and the net earnings from which benefit an individual or entity other than a governmental entity or a tax-exempt organization.