A recently introduced Senate bill would prohibit the use of taxpayer funds to construct sports stadiums for professional teams.
Senators Cory Booker, D-N.J., and James Lankford, R-Okla., are sponsoring the bill that would stop teams from using municipal bonds on stadium projects. Municipal bond interest is exempt from federal taxes.
A report by the Brookings Institution found that $3.2 billion in federal taxpayer money, through municipal bonds, has been used to fund 36 newly built or renovated sports stadiums since 2000. “Professional sports teams generate billions of dollars in revenue,” Booker said in a news release. “There's no reason why we should give these multimillion-dollar businesses a federal tax break to build new stadiums.”
A similar bill was introduced by Rep. Steve Russell, R-Okla., in the House of Representatives in March 2016.
Related Stories
Codes and Standards | Mar 19, 2021
California city bans construction of new gas stations
Existing stations will not be allowed to add more pumps.
Codes and Standards | Mar 18, 2021
Congressmen ask Biden to tackle rising lumber costs
Rising materials costs and supply shortages threaten economic recovery, housing starts.
Codes and Standards | Mar 16, 2021
Massachusetts bill would mandate rooftop solar on new homes, commercial buildings
Proposed Bay State mandate modeled on California’s.
Codes and Standards | Mar 15, 2021
Nevada may create areas for tech companies to form own governments
Legislation calls for ‘Innovation Zones’ that could become smart cities.
Codes and Standards | Mar 11, 2021
Los Angeles commits to carbon-free city buildings
City will take into account embedded carbon when contracting to buy construction products.
Codes and Standards | Mar 10, 2021
‘Smart retrofitting’ will be crucial to net zero aspirations
AI, analytical software, Internet of Things are keys to decarbonization of built environment.
Codes and Standards | Mar 9, 2021
Salt Lake City is first jurisdiction to adopt new standards for off-site construction
Code Council and Modular Building Institute developing standards and compliance protocols.
Codes and Standards | Mar 8, 2021
Hyperlocal zoning could spur more affordable housing construction
Letting blocks and streets pass their own rules could have impact.
Codes and Standards | Mar 5, 2021
Biden builds on Trump’s “Buy American” order
New administration extends preferences for domestic construction materials.
Codes and Standards | Mar 4, 2021
Biden administration overturns Trump’s federal building design mandate
Previous order promoted classical and “traditional” architecture above others.