Indiana Senators passed a bill Tuesday that will provide funding for the state's professional basketball and soccer team facilities.
The bill will give the Capital Improvement Board millions of dollars to revamp Bankers Life Fieldhouse, where the Indiana Pacers play, and help build a proposed Indy Eleven soccer stadium.
Sen. Greg Taylor (D-Indianapolis) says revenue collected in the downtown Indianapolis professional sports district is felt across the state.
“In 2017, the CIB’s facilities produced over $80 million in state revenue,” says Taylor.
Four senators voted against the bill, including Sen. Michael Young (R-Indianapolis). By extending the expiration on ticket, hotel and rental car sales taxes to 2040, he says the bill makes them more permanent.
“Even when we tell them it’s only good till 2023, we cannot get rid of a tax,” says Young.
The bill’s approval was dependent on the CIB getting a new 25-year contract with the Pacers. A deal was approved earlier in April.
The bill now goes to the governor’s desk.
