Ends the federal tax break for municipal bonds used to finance professional sports stadiums. It adds a new category of bonds to federal tax law—“professional stadium bonds”—and treats their interest as taxable rather than tax‑exempt.

The change applies only to bonds issued after the law takes effect. Existing bonds are not affected. Cities, states, stadium authorities, teams, and investors would likely face higher borrowing costs for future stadium projects, shifting more costs away from federal taxpayers and toward local or private financing.