This bill proposes to amend the Internal Revenue Code of 1986 to ensure that bonds used to finance professional stadiums are no longer treated as tax-exempt. It specifically adds a new category, "professional stadium bond," to the types of bonds that are not eligible for tax-exempt status under federal law. A professional stadium bond is defined as any bond whose proceeds are used to finance or refinance capital expenditures for a facility or its associated real property. This facility must be used as a stadium or arena for professional sports exhibitions, games, or training for at least five days during any calendar year. The primary objective of this legislation is to eliminate federal tax subsidies that have historically supported the construction and renovation of professional sports venues. By removing the tax-exempt status, these bonds would no longer offer the same financial advantages to the issuing entities and investors. These new provisions would apply to all bonds issued after the date the Act is officially enacted into law.