The Oakland Raiders are already on the hook for more than $1.1 billion in construction costs for a planned stadium in Las Vegas, and the recent tax bill proposed by congressional Republicans could add to that tally.

Nevada officials are rushing to figure out what the proposed change to the tax code — unveiled last week by House Republicans — could have on the planned stadium ahead of a Thursday meeting of the Las Vegas Stadium Authority and a week ahead of a planned official groundbreaking for the stadium site on Nov. 13.

Though stadium officials say they factored in the likelihood of higher increased interest rates on the bonds when they’re issued sometime next year, the change from non-taxable to taxable status for the issued bonds could also eat up more of the hotel room tax revenue being used to fund the bonds, and possibly prevent the state from paying the full $750 million for construction efforts — with the difference fronted by the Raiders.

Clark County Commission chairman Steve Sisolak said he asked county officials last week to calculate how much revenue would be available if the change to bond status was made, but said initial assumptions weren’t positive.

“If it’s not tax exempt, we can’t finance 750 million dollars under the revenue,” he said.

Las Vegas Stadium Authority chairman Steve Hill said that the authority would likely receive an update on how the federal tax change could affect the project. Although he did not want to publicly speculate on how large or small the change in bond revenue could be and noted that several assumptions outside of bond tax status factored into revenue estimates, he told The Nevada Independent that there would likely be an impact.

“While it’s not an insignificant number, it is not, well, a knife in the heart,” he said, appearing to reference statements made to the Las Vegas Review-Journal.

The long-awaited tax code overhaul bill introduced in the House would eliminate the use of tax-exempt municipal bonds issued by local governments to finance construction of any stadium or arena that is used for professional sport exhibition, games or training for more than five days a year. Axios estimated that around $13 billion worth of tax-exempt bonds financing stadium construction have been issued since 2000.

Congressional officials estimate the change would result in a $200 million bump in tax revenue over the next decade.

That change could have a major effect on the Las Vegas stadium, more than a year after Gov. Brian Sandoval convened a special legislative session to approve a blockbuster deal spending up to $750 million in new hotel room taxes funding construction of a new domed stadium just south of the Las Vegas Strip.

According to the legislation passed by state lawmakers during the special session, the state is required to direct a 0.88 percent increase in hotel room taxes toward the stadium project, with one and a half times coverage ratio (meaning the state collects around 50 percent more than what’s required to make payments on the bonds).

Though the $750 million figure is often thrown around as the amount the state is paying for stadium construction, it only represents the maximum amount of hotel tax revenue that can be put towards construction of the stadium, not a pledged, flat amount agreed to be put forward by the state.

Ever since Las Vegas Sands CEO Sheldon Adelson decided to pull out of the stadium deal back in January, the structure of finances surrounding the rest of the $1.1 billion needed to build the facility have been somewhat murky. Bank of America agreed to loan the Raiders — already committed to paying $500 million for the stadium construction — another $650 million in funds that Adelson had previously pledged toward stadium construction.

Any shortfall in state funds would also need to be paid by the Raiders, which Hill said the team is aware of.

Sisolak said he had contacted Democratic Rep. Dina Titus and Sen. Catherine Cortez Masto on the tax bill and stadium funding since it was introduced, and said it would make sense for the bill to grandfather in existing stadium projects instead.

“We’re a year into this, a year and a half into this. It’s one thing if you change it now, when you say moving forward you can’t do this, but these bond issues take a long time to get to the point where we’re at right now,” he said. “I think it’s unfair to change the rules in the middle of the game, and that’s what would be happening here.”

Hill said that expediting the bonding process to avoid any sort of potential deadline would be close to “functionally impossible,” given that the process usually takes three to four months and likely couldn’t be completed by the end of the calendar year.

In a statement, Gov. Brian Sandoval spokeswoman Mari St. Martin said that the governor believed federal tax reform was “necessary,” and that the governor had dispatched his staff to analyze how the bill could affect Nevada — including the stadium project.

“The governor is aware of the potential elimination of private activity bonds which help finance some affordable housing and charter school projects in Nevada, the proposed change in sports stadium bonds and other issues raised by local businesses,” she said. “He has instructed his staff to review and analyze its full impact and will work with the federal delegation to fight for Nevada’s interests.”