118th Congress · SENATE BILLBILL

S. 2519 — Sports League Tax-Exempt Status Limitation Act

“A bill to amend the Internal Revenue Code of 1986 to impose an asset test on professional sports leagues qualifying for 501(c)(6) status.”

Taxation

Introduced Jul 26, 2023

Last action Jul 26, 2023

Pipeline · Bill → Law

Step 1

Introduced

Jul 26, 2023

Step 2

Referred

Jul 26, 2023

Finance

Step 3

Committee

Step 4

Senate

Step 5

House floor

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill denies a tax exemption for professional sports leagues whose assets have an average annual value in excess of $500 million for any 3-taxable year period beginning after 2020.

Provisions · 2 sectionsIntroduced in Senate

Timeline · 2 actions

Jul 26, 2023

Introduced in Senate

Jul 26, 2023

Read twice and referred to the Committee on Finance.