Indiana Senate committee advances legislation setting up Chicago Bears stadium plan
An Indiana Senate committee has advanced proposed legislation setting the framework for a potential new stadium for the Chicago Bears in northwest Indiana.
The Senate Appropriations Committee on Thursday passed a measure establishing the "Northwest Indiana Stadium Authority."
The authority's three-member board would be given the power to acquire land for a stadium, finance construction, and then lease the stadium to the Bears.
The bill would require the Bears to enter into a lease of at least 35 years. The Bears would pay for repairs and operational costs, but also keep all the operating revenue generated by the stadium. The team also would have the option to buy the stadium for $1 at the end of the lease.
The legislation still needs approval from the full Senate before it is sent to the Indiana House.