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Congress Takes Aim at Tax-Exempt Funding for Professional Sports Facilities

While President Trump’s very public feud with the NFL grabs the headlines these days, the U.S. House inserted a provision in the tax reform bill introduced last week which would eliminate a State or local government’s ability to issue tax-exempt debt for the development of any professional sports facility.   The House Staff prepared a summary of the bill, which includes an explanation of Section 3604, the provision relating to tax-exempt …Read More

High Point Seeks Economic Development with Baseball

The City of High Point, North Carolina seeks to make a significant public investment in construction of a downtown baseball stadium which would be home to an Atlantic League (Independent) baseball team. The city wants to use the ballpark as a lynchpin for a broader downtown economic development plan. High Point seeks to take a page from the economic development playbook of quite a few other North Carolina municipalities that …Read More