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The jock tax works via a unique structure: bonds worth up to $800 million will be issued, and the repayment is aimed to come directly from the income taxes generated by MLB players and team staff once the team is established. To clarify, these taxes won’t be captured until a baseball team is operational. Thus, the state positions itself to financially back the stadium using future income taxes from players who will be part of the league.
Historically, there was a similar measure in Oregon called SB5, established 22 years ago, which was aimed at raising $150 million for baseball infrastructure. The significant increase to $800 million reflects the soaring costs associated with sports venues over the years.