[Congressional Record Volume 163, Number 194 (Wednesday, November 29, 2017)]
[Senate]
[Page S7410]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 1592. Mr. LANKFORD submitted an amendment intended to be proposed 
by him to the bill H.R. 1, to provide for reconciliation pursuant to 
titles II and V of the concurrent resolution on the budget for fiscal 
year 2018; which was ordered to lie on the table; as follows:

       At the appropriate place, insert the following:

     SEC. __. ELIMINATING FEDERAL TAX SUBSIDIZATION OF 
                   PROFESSIONAL SPORTS STADIUMS.

       (a) Treatment of Certain Obligations Financing Professional 
     Sports Stadiums as Private Activity Bonds.--Section 141(b) is 
     amended by adding at the end the following new paragraph:
       ``(10) Special rule for professional sports stadiums.--
       ``(A) In general.--In the case of any issue any proceeds of 
     which are to be used to provide a professional sports 
     stadium, such issue shall be treated as meeting the private 
     security or payment test of paragraph (2).
       ``(B) Professional sports stadium.--For purposes of this 
     paragraph, the term `professional sports stadium' means any 
     facility (and 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.''.
       (b) Effective Date.--The amendments made by this section 
     shall apply to obligations issued after the date of the 
     enactment of this Act.
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