arrow_back Back to App

Limiting Tax Exemptions for Large Professional Sports Leagues

This bill changes tax rules for professional sports leagues. Specifically, a professional football league will lose its federal income tax exemption if the average value of its assets exceeds $500 million over a three-year period. This aims to ensure that highly profitable sports organizations contribute federal taxes, potentially increasing government revenue.
Key points
An asset test is introduced for professional sports leagues, primarily targeting football leagues, to determine their tax-exempt status.
Leagues exceeding $500 million in average assets over three years will lose their 501(c)(6) tax-exempt status.
These changes take effect for tax years beginning after December 31, 2023, potentially increasing federal tax revenue.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_S_2519
Sponsor: Sen. Wyden, Ron [D-OR]
Process start date: 2023-07-26
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Sports League Tax-Exempt Status Limitation Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_2519.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-07-26.

What are the main provisions?

Key points include:

  • An asset test is introduced for professional sports leagues, primarily targeting football leagues, to determine their tax-exempt status.
  • Leagues exceeding $500 million in average assets over three years will lose their 501(c)(6) tax-exempt status.
  • These changes take effect for tax years beginning after December 31, 2023, potentially increasing federal tax revenue.
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 Sen. Wyden, Ron [D-OR].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Taxes Economy