LAS VEGAS (AP) — The Republican tax overhaul introduced in Congress could affect funding for the proposed $1.9 billion stadium that will house the Las Vegas Raiders.
The Las Vegas Review-Journal reported Saturday that a provision of the 429-page bill ends tax-exempt status on bonds used to pay for stadiums used by professional sports teams.
The Oakland Raiders’ bid to build a 65,000-seat domed football stadium clearly falls within circumstances that would be banned in legislation President Donald Trump has vowed to approve by Thanksgiving. The stadium’s financing plan includes $750 million in publicly issued tax exempt bonds.
A staff adviser to the Las Vegas Stadium Authority and the Southern Nevada Tourism Infrastructure Committee says he’s been inundated with calls about the change. He says it could increase costs or cut returns for investors.
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