No Tax Subsidies for Stadiums Act of 2023

This bill prohibits state and local governments from using tax-exempt bonds to finance professional sports stadiums. It amends the tax code to define "professional stadium bonds" as those financing facilities hosting professional sports events for at least five days yearly, making such bonds ineligible for tax-exempt status. The law directly affects municipalities and public authorities considering stadium projects that would rely on tax-exempt bond financing. The policy change takes effect for bonds issued after the bill's enactment, eliminating a common public funding mechanism for new or renovated sports venues.