Bills Currently Winding Their Way Through Congress On Eliminating Sports Federal Tax Subsidies

Bills Currently Winding Their Way Through Congress On Eliminating Sports Federal Tax Subsidies Senate Bill 1342 submitted June 12, 2017 and House Bill 811 submitted February 1, 2017 are tax subsidy reform measures that 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 … Continue reading