S1192-119

1. Short title This Act may be cited as the No Tax Subsidies for Stadiums Act of 2025.

2. No tax-exempt bonds for professional stadiums Section 103(b) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: Any professional stadium bond. Section 103(c) of such Code is amended by adding at the end the following new paragraph: The term professional stadium bond means any bond issued as part of an issue any proceeds of which are used to finance or refinance capital expenditures allocable to a facility (or appurtenant real property) which, during at least 5 days during any calendar year, is used as a stadium or arena for professional sports exhibitions, games, or training. The amendments made by this section shall apply to bonds issued after the date of the enactment of this Act. (4)Professional stadium bondAny professional stadium bond.. (3)Professional stadium bondThe term professional stadium bond means any bond issued as part of an issue any proceeds of which are used to finance or refinance capital expenditures allocable to a facility (or appurtenant real property) which, during at least 5 days during any calendar year, is used as a stadium or arena for professional sports exhibitions, games, or training..