No Tax Subsidies for Stadiums Act of 2023

This bill prohibits the use of tax-free bonds to finance professional sports stadiums. It directly affects cities, states, or public entities that previously sought to fund stadium construction through tax-exempt bond programs. The key mechanism adds a new definition to tax law, excluding bonds used for facilities hosting professional sports events for at least five days annually from tax-exempt status. This change prevents public funds from being channeled into stadium projects via tax-advantaged financing.