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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Feb 26, 2021.
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.
