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Illinois advances tax deal for Bears stadium; Indiana approves $1B for rival stadium.
Illinois lawmakers advanced House Bill 910, which would allow major developments like a proposed Bears stadium in Arlington Heights to negotiate tax payments instead of paying standard property taxes, with a 13-7 committee vote.
The bill offers a 40-year tax freeze and a 10-year sales tax exemption on construction materials and requires significant investment and job commitments but does not address public infrastructure funding.
While proponents say it promotes economic growth, critics warn it could shift tax burdens to residents.
The bill now heads to the full House, with no vote scheduled until March 18.
Meanwhile, Indiana enacted a law authorizing $1 billion in bonds to build a stadium in Hammond, with Governor Mike Braun expected to sign it, intensifying competition to keep the Bears in the region.
Illinois adelanta un acuerdo de impuestos para el estadio de los Bears; Indiana aprueba $ 1B para el estadio rival.