(HAMMOND) - The Chicago Bears moved a step closer to a possible relocation to Northwest Indiana after a stadium authority bill cleared a key legislative committee Thursday.
WISH-TV reports the Indiana House Ways and Means Committee unanimously approved a proposal to create the Northwest Indiana Stadium Authority, which could finance a multibillion-dollar NFL stadium project in Hammond near Wolf Lake.
Under the plan, the state would own the stadium while an NFL team -- widely expected to be the Bears -- would lease the facility under a long-term agreement. The authority would be formally established if the bill becomes law.
Supporters say the project could deliver major economic benefits to the region. Hammond Mayor Tom McDermott Jr. told lawmakers opportunities of this scale are rare and emphasized the site's proximity to Chicago. Indiana House Speaker Todd Huston said the proposal reflects a shared commitment between the state and the team.
Funding would rely on bonds and local revenue sources, including proposed food-and-beverage and innkeeper taxes in Lake County, along with proceeds tied to the Indiana Toll Road lease.
State Rep. Earl Harris previously said lawmakers would not advance the plan without serious interest from the Bears. Team officials released a statement calling the legislation the most meaningful step forward in stadium planning so far.
The Bears have been exploring alternatives after stalled negotiations over a new stadium in Arlington Heights, Illinois. Illinois officials had scheduled a meeting on their own stadium proposal today, but it was later canceled.
Governor Mike Braun also voiced support on the "X" social media platform, calling the potential partnership a major opportunity for economic growth and a possible "win for taxpayers."
The bill now continues through the legislative process as negotiations over a final deal move forward.