Property tax-free Bears deal fails to pass
(The Center Square) – The Illinois legislative session has ended with no stadium deal for the Chicago Bears.
House Bill 958 Senate Amendment 2 passed the Senate on Monday morning but was not called for a vote in the House.
State Sen. Bill Cunningham’s proposal would establish a municipal stadium authority to own a facility the Bears could build in Chicago, Arlington Heights or one of several other large suburbs.
“The municipality would own the stadium as a public property. It would pay no property taxes,” Cunningham, D-Chicago, said.
Cunningham said the legislation was intended for the Bears but was not franchise-specific.
The host municipality would be eligible to apply for the establishment of a sales tax and revenue bond district or a New Opportunities for Vacation Adventure district around the stadium. The project would then be eligible to receive reimbursement from the proceeds of bonds secured by state sales tax increment.
Traffic studies would be required around the stadium site and also around the Bears’ current home facility, Soldier Field in Chicago.
The amended bill came together after Senate Democrats decided not to support a payment-in-lieu-of-taxes package passed by the House in April.
Americans for Prosperity Illinois Deputy State Director Brian Costin said the House legislation would have frozen equalized assessed values and allowed local governments to use megaprojects to raise taxes.
“There shouldn’t be risks to other taxpayers from megaprojects. They shouldn’t be causing property tax increases that other people have to pay,” Costin told The Center Square.
Costin estimated the new legislation would have saved the Bears between $11 billion and $15 billion in property taxes over 40 years.
In a social media post, Costin said the bill was corporate welfare and not property tax relief.
State Rep. Kam Buckner, D-Chicago, said the negotiations were complex.
“This is how this building works, right? Things fit, they start, they go away, they come back,” Buckner said on Sunday.
Illinois House Speaker Emanuel “Chris” Welch, D-Hillside, called for session to adjourn without considering the new stadium legislation.
The new bill did not go through committee before arriving on the Senate floor.
Sunny
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