PILOTs and Public Policy: Steering through the Economic Ramifications
A recent IRS ruling has allowed the new Yankees Stadium construction project to be financed by a tax exempt bond offering backed by payments in lieu of taxes (PILOTS). This decision appears to contradict the spirit of the Tax Reform Act of 1986. From an economic standpoint, the question is whether it is desirable to significantly expand the number of projects eligible for tax subsidies in exchange for a more direct connection between those receiving benefits from the projects and those paying the taxes, or should the state and municipal bond tax exemption narrowly extend only to true public works even if this means taxing the populace more broadly when certain segments of the population are more apt to benefit from certain projects.
|Date of creation:||Dec 2008|
|Date of revision:|
|Publication status:||Published in Villanova Sports and Entertainment Law Journal, Vol. 16:2, Summer 2009, 273-289.|
|Contact details of provider:|| Phone: (508)793-3362|
Fax: (508) 793-3708
Web page: http://www.holycross.edu/departments/economics/website/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Rodney Fort, 2004. "Inelastic sports pricing," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 25(2), pages 87-94.
- Dennis Coates & Brad R. Humphreys, 2008.
"Do Economists Reach a Conclusion on Subsidies for Sports Franchises, Stadiums, and Mega-Events?,"
Econ Journal Watch,
Econ Journal Watch, vol. 5(3), pages 294-315, September.
- Dennis Coates & Brad R. Humphreys, 2008. "Do Economists Reach a Conclusion on Subsidies for Sports Franchises, Stadiums, and Mega-Events?," Working Papers 0818, International Association of Sports Economists;North American Association of Sports Economists.
When requesting a correction, please mention this item's handle: RePEc:hcx:wpaper:0817. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Victor Matheson)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.