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Tax Exemption Changes for High-Revenue Professional Sports Leagues.

This bill aims to change tax rules so that professional sports leagues with annual revenues over one billion dollars are no longer exempt from paying taxes. This means some of the largest professional sports leagues will have to pay taxes, which could impact their finances and potentially affect ticket prices or the accessibility of sports events for citizens.
Key points
Professional sports leagues with annual gross receipts exceeding $1 billion will lose their tax-exempt status.
The changes apply to leagues involved in fostering competitions, managing business, officiating, coordinating schedules, and handling sponsorships or broadcast sales.
These new rules will apply to tax years beginning after December 31, 2022.
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Additional Information
Print number: 118_HR_6774
Sponsor: Rep. Thompson, Mike [D-CA-4]
Process start date: 2023-12-13
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

To amend the Internal Revenue Code of 1986 to establish special rules relating to which professional sports leagues qualify to be exempt from taxation.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_6774.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-12-13.

What are the main provisions?

Key points include:

  • Professional sports leagues with annual gross receipts exceeding $1 billion will lose their tax-exempt status.
  • The changes apply to leagues involved in fostering competitions, managing business, officiating, coordinating schedules, and handling sponsorships or broadcast sales.
  • These new rules will apply to tax years beginning after December 31, 2022.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Thompson, Mike [D-CA-4].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Taxes Economy