(INDIANAPOLIS) - Illinois lawmakers are facing a Sunday night deadline as negotiations continue over a proposal aimed at keeping the Chicago Bears in the Chicago area with a new stadium development in Arlington Heights.
The proposal under consideration in Springfield would provide major property tax breaks connected to a potential Bears stadium project in the northwest Chicago suburb.
At the same time, Indiana leaders continue pursuing a proposal to move the NFL franchise to Hammond. Governor Mike Braun has stated Indiana's chances of landing the Bears are now "above 50/50 odds."
Indiana's proposal would include a domed stadium in Hammond with the Bears contributing $2 billion toward construction. Indiana would finance another $1 billion through state-backed bonds and infrastructure funding.
A report from the Cook County Treasurer's Office found Illinois and Chicago could still benefit economically even if the team relocates to northwest Indiana because Hammond would remain close to Chicago and could continue drawing visitors from Illinois.
Illinois lawmakers are currently debating a "Megaprojects" bill that could freeze property taxes and reduce long-term tax payments tied to a proposed Arlington Heights stadium development.
The Bears and the NFL have reportedly said a new stadium within Chicago city limits is not financially feasible.
The team has said it expects to choose between the Hammond and Arlington Heights proposals sometime in late spring or early summer.