HR 7988 · 116th Congress · Taxation
PRO Sports Act
Bill Progress
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Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the House Committee on Ways and Means.(2020-08-07)
Plain Language Summary
[AI summary unavailable — showing source text]
Properly Reducing Overexemptions for Sports Act or the PRO Sports Act This bill removes professional football leagues from the list of tax-exempt organizations. The bill also prohibits an organization or entity from being 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; and (2) has annual gross receipts in excess of $10 million.…
Summarized by Claude AI · Non-partisan · For informational purposes only