The Illinois House of Representatives is considering legislation that would give the Chicago Bears a huge tax break to keep the team from moving to Indiana.
The idea of bears leaving the kingdom seems absurd. However, these are very different times for the NFL. With the value of teams and leagues at an all-time high, owners are looking to squeeze as much money as possible from venues, broadcasters and fans to maximize their money-making opportunities. The Kansas City Chiefs leaving Missouri in a few years to build a new stadium in Kansas shows that the franchise is prioritizing revenue over loyalty.
While the Bears should look higher than that due to their rich history in Chi-Town as one of the NFL’s original teams, they are already set to leave Chicago for a potential stadium in Arlington Heights, IL. However, the idea of leaving the state entirely has become very real in recent months as Indiana has made a serious effort to lure the iconic brand next door.
The idea has apparently struck fear in the hearts of Illinois natives and their state representatives, even though a stadium in Indiana would be quite close to the border of both states. Well, to avoid this possibility and anger its citizens, an interesting idea has come up in the capital.
Illinois may impose property tax moratorium on Chicago Bears stadium in Arlington Heights
According to the Chicago Sun Times, “State Rep. Kam Buckner, D-Chicago, plans to brief Illinois House Democrats on the new amendment Tuesday. The pilot measure, shorthand for payment in lieu of taxes, would allow the Bears to renegotiate their property taxes with Arlington Heights.”
The measure would have prohibited property tax assessments on land the Bears purchased in Arlington Heights for a potential stadium. Being able to build a state-of-the-art NFL stadium without having to worry about current property tax rates could save the Bears a tremendous amount of money. However, there is one issue.
As WGN 9 in Chicago reports, “Chicago lawmakers are hesitant in saying they want something in return for voting to have the Bears leave the city.” State Representative La Shawn Ford recently mentioned the need for some type of support on how the city uses Soldier Field if the Bears move to Arlington Heights.
The MPs are scheduled to meet over the next three days before taking a recess till May 4. It still must pass through the Illinois House of Representatives, but it’s a bold new step in the state’s efforts to avoid losing the Chicago Bears to Indiana.
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