CHICAGO – An Illinois lawmaker introduced a bill this week that would link the use of taxpayer dollars for public sports stadium funding to the performance of the teams.
HB 2969
What we know:
Illinois State Rep. Bob Morgan introduced the ‘Balanced Earnings And Record Standards & Stadium Oversight Expectations Act,’ also known as ‘The BEARS Act.’ which would require professional sports teams to have a .500 record or above in at least three of five regular seasons in order to qualify for public financing for stadium construction, renovation, or maintenance.
If a team drops below .500, the bill says the club will be ineligible for future funding until they improve their performance over three out of five seasons.
Morgan said the goal of the bill is to make sure taxpayer funds are only given to teams that demonstrate a basic level of competitiveness.
Morgan also claimed that sports stadiums often don’t offer a good return on investment. The jobs they create are usually low-wage and temporary, and the economic benefits rarely make up for the public subsidies.
What they’re saying:
Morgan released the following statement in regards to the bill:
“Our primary goal with this bill is not to punish teams, but to ensure that Illinois taxpayers’ dollars are spent responsibly. No one wants to see taxpayer dollars wasted by billionaire team owners that are not investing in their teams’ competitiveness. As families across Illinois are tightening their belts due to the rising cost of living, we must be careful with how we spend limited public dollars, especially when it comes to billion-dollar franchises. Illinois should be committed to ensuring that public investments are directed to Illinois residents, and then to teams that, at the very least, are performing at a competitive level.”
“While Illinois enters an unprecedented time, with state funding under constant threat from the Trump administration, Illinois must be vigilant with every cent spent. While I don’t support using taxpayer dollars for stadiums, this framework ensures that, if funds are spent, they go to teams offering the best return on investment.
“This isn’t about perfection; it’s about making sure that the teams we invest in have a realistic chance of being successful and bringing value back to the community.”
