Bill Status of HB2969

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HB2969 - 104th General Assembly

DA BEARS STADIUM OVERSIGHT ACT
Last Action
3/21/2025 - House: Rule 19(a) / Re-referred to Rules Committee
Statutes Amended In Order of Appearance
New Act
Synopsis As Introduced
Creates the Balanced Earnings And Record Standards (BEARS) and Stadium Oversight and Expectations Act. Sets forth the purpose of the Act. Defines terms. Provides that, to be eligible for public financing, a professional sports team must have achieved a 0.500 record in at least 3 out of the last 5 regular seasons. Provides that the eligibility requirement applies to all requests for public financing related to: (1) stadium construction; (2) stadium renovation; and (3) stadium maintenance. Provides that teams that have been in existence for fewer than 5 years are exempt from the eligibility requirement but must demonstrate competitive performance by achieving a 0.500 or above record in at least 2 out of the team's first 5 seasons before applying for additional public financing. Provides that the Illinois Sports Facilities Authority shall issue a public report confirming the team's eligibility before any consideration of public financing by the State or a unit of local government. Provides that, prior to any public hearing on a proposal for public financing, the Illinois Sports Facilities Authority shall publish a report detailing: (1) the team's performance record over the last 5 seasons; (2) the total amount of public financing requested; and (3) the projected economic impact of the proposed financing on the local community. Requires the report to be made publicly available on the Illinois Sports Facilities Authority website at least 30 days prior to the public hearing. Provides that any team found to have intentionally misrepresented its performance record or eligibility criteria shall be subject to: (1) a fine of up to $500,000; and (2) a ban on applying for public financing for a period of 5 years. Allows the Attorney General to pursue legal action to enforce the penalties. Includes a severability clause. Effective immediately.
Actions
Date Chamber Action
2/06/2025 House Filed with the Clerk by Rep. Bob Morgan
2/06/2025 House First Reading
2/06/2025 House Referred to Rules Committee
2/14/2025 House Added Chief Co-Sponsor Rep. Eva-Dina Delgado
2/14/2025 House Added Co-Sponsor Rep. Terra Costa Howard
2/14/2025 House Added Co-Sponsor Rep. Jennifer Gong-Gershowitz
2/14/2025 House Added Co-Sponsor Rep. Anne Stava
2/14/2025 House Added Co-Sponsor Rep. Amy Briel
2/26/2025 House Added Co-Sponsor Rep. Sharon Chung
3/04/2025 House Assigned to Executive Committee
3/13/2025 House Added Chief Co-Sponsor Rep. Harry Benton
3/21/2025 House Rule 19(a) / Re-referred to Rules Committee