No Tax Subsidies for Stadiums Act of 2025

This bill amends the Internal Revenue Code to ensure that bonds used to finance professional stadiums are not treated as tax-exempt bonds. Sec. 2, No tax-exempt bonds for professional stadiums: The bill adds a new paragraph to Section 103(b) of the Internal Revenue Code, defining any professional stadium bond as not tax-exempt. It also adds a definition in Section 103(c) for 'professional stadium bond' as any bond whose proceeds finance or refinance capital expenditures for a facility or appurtenant real property used as a stadium or arena for professional sports exhibitions, games, or training for at least 5 days in any calendar year. The amendments apply to bonds issued after the date of enactment.