Bill Details
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Title
PRO Sports Act
Official Title
To amend the Internal Revenue Code of 1986 to exclude major professional sports leagues from qualifying as tax-exempt organizations.
Summary
Properly Reducing Overexemptions for Sports Act or the PRO Sports Act
This bill amends the Internal Revenue Code to remove professional football leagues from the list of tax-exempt organizations.
No organization or entity shall be treated as tax-exempt if it: (1) is a professional sports league, organization, or association, a substantial activity of which is to foster national or international professional sports competitions (including by managing league business affairs, officiating or providing referees, coordinating schedules, managing sponsorships or broadcast sales, operating loan programs for competition facilities, or overseeing player conduct); and (2) has annual gross receipts in excess of $10 million.
bill Progress
- Not enactedThe President has not signed this bill
- The senate has not voted
- The house has not voted
- house Committees
Committee on Ways and MeansIntroducedJanuary 5th, 2017