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HR 7988 116th Congress House Taxation Professional sports Tax-exempt organizations

PRO Sports Act

Introduced: August 7, 2020 Introduced by: Steube, W. Gregory Republican · Florida See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 7, 2020
Referred to the House Committee on Ways and Means.
Aug 7, 2020
Introduced in House
 Plain-English summary Congressional Research Service

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.

What's happening now August 7, 2020

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1