Illinois bill would require sports projects to include independent analysis, public hearings, repayment of lost tax revenue

In the midst of all the Chicago Bears stadium drama, in which team owners are still requesting around $1 billion in infrastructure spending and tax breaks, Illinois state representative Kam Buckner has quietly introduced the Stadium Transparency and Responsible Spending (STARS) Act, which would require that any sports construction or renovation projects costing the public more than $25 million:

• Have its subsidy agreement posted online for at least 30 days before it can be enacted.
• Receive a “neutral cost-benefit analysis of the agreement” by the state Commission on Government Forecasting and Accountability, with the cost footed by the sports franchise seeking the subsidy.
• Hold at least two public hearings in the affected community.
• Reimburse in full all public schools, public libraries, or public fire, police, or emergency service for any loss of property taxes as a result of the deal.
• Contain a clawback provision where the sports franchise must repay all subsidies, plus 5% annual compounded interest, if it relocates or fails to meet its stated community or economic commitments.
• Provide annual reports on the number of jobs created, tax revenue generated, and community benefits delivered.

Can it pass? Who knows! Front Office Sports reports that Buckner “intends for this to be at least the start of a broader conversation around the stadium financing,” which makes it sound like more like points to be haggled over than the likely final form of any legislation. But that’s still a start, especially given how often sports projects get rushed through the approval process without much public oversight. And there’s nothing stopping other states from modeling similar legislation on Buckner’s bill — hint, hint, legislators in other 49 states.