The Indiana General Assembly passed a new law co-sponsored by 50 House Republicans to create the Northwest Indiana Stadium Authority and a financing framework for a proposed stadium aimed at bringing the Chicago Bears to northwest Indiana while driving regional growth and protecting Hoosier taxpayers.
Senate Enrolled Act 27 authorizes the stadium authority to acquire land, issue long-term bonds, and finance the construction of a stadium and related facilities. The authority will be governed by a seven-member board, including the Indiana Office of Management and Budget director (or designee), an additional OMB appointee, the state’s public finance director and four local officials from Porter and Lake counties.
Under the law, the state would own the facility, while the Chicago Bears would enter a long-term lease of at least 35 years. The team would be responsible for stadium operations, maintenance and improvements.
The law follows a user-pay financing model. Bond repayment would primarily come from lease payments supported by stadium-generated revenue and local, event-related taxes within a designated district such as admissions, food, beverage and innkeeper taxes. The intent is to ensure that those attending games, concerts and other events help fund the project, rather than taxpayers statewide.
The framework mirrors financing models used for other major sports venues in Indiana, including Lucas Oil Stadium in Indianapolis.
This transformational opportunity would bring jobs, new businesses, increased tourism, and long-term economic and population growth. It would benefit the region and the entire state.
Click here to learn more about other new laws passed in this year's legislative session.
