Politics & Government
Pritzker Not In Favor Of Latest Tax Proposal For A New Chicago Bears Stadium
"I certainly don't want to burden taxpayers with major support for a private business," the governor said.
ARLINGTON HEIGHTS, IL — Legislation that could help the Chicago Bears finance a proposed stadium development in Arlington Heights by freezing property tax assessments for decades is getting a thumbs down from the governor.
In September 2021, the Bears signed a purchase agreement to buy the former Arlington International Racecourse property. The team has unveiled plans for a multi-billion dollar stadium complex and commercial and residential development.
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State Sen. Ann Gillespie, D-Arlington Heights, has filed a bill that would allow up to 40 years worth of tax breaks to major organizations like the Bears.
During an appearance in Peoria Tuesday, Gov. J.B. Pritzker said he loves the Bears, but it is a private business.
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“I am of the opinion that it's not our obligation as the state to step in and provide major funding, and I certainly don’t want to burden taxpayers with major support for a private business,” Pritzker said.
The latest proposal comes in the wake of an earlier tax subsidy plan that was floating around. According to a report, a measure would create a new type of tax subsidy called payment in lieu of taxes, or PILT. The property tax in a PILT district would be frozen for 20 years and part of the revenue from the developments would offset costs for the developers. PILTs differ from tax-increment financing because the tax amount can be negotiated.
Brain Costin, Illinois deputy state director for Americans for Prosperity, said the Bears are trying to use their power to protect billionaires and big businesses and not hardworking Illinois taxpayers.
“It’s not good economics because you have government getting into the business of picking winners and losers and a lot of times they pick wrong,” Costin told The Center Square. “It's bad politically, it's bad economically, it's just plain bad for the state of Illinois.”
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