Fiscal impact statement on Bears stadium bill outlines millions in tax increases

(INDIANA CAPITAL CHRONICLE) — A fiscal note on the proposed Chicago Bears stadium construction package shows northwest Indiana residents could pay millions in new taxes, which could grow with use by visitors to the region.

The statement — prepared by the nonpartisan Legislative Services Agency — still includes many unknowns but does provide some baseline revenue estimates for hospitality-related taxes.

Under Senate Bill 27, a state-crafted authority would take out bonds to build the stadium. A bevy of taxes would provide revenue to make the annual bond payments.

The exact cost of the project is unknown at this time though the Chicago Bears have committed $2 billion and House Speaker Todd Huston said Thursday in unveiling the plan that as much as $1 billion in public funding could be involved.

The bill allows Lake and Porter counties to each adopt a 1% food-and-beverage tax by June 30, 2027. Revenue from these taxes would go to the Northwest Indiana Stadium Board.

If both counties impose the 1% food-and-beverage tax, they could collect an estimat...