WASHINGTON – Congressman Blake Farenthold (R-Texas) reintroduced the Properly Reducing Overexemptions for Sports Act (PRO Sports Act) Tuesday. This legislation would exclude major professional sports leagues from qualifying as tax-exempt organizations. This bill continues the work of recently retired Congressman Jason Chaffetz.
“Professional sports leagues should not be exempt from paying taxes,” said Congressman Farenthold. “These are highly profitable businesses that make tens of millions of dollars each year and have been exploiting loopholes to game the system. It’s time we blow the whistle on this foul, and get this bill over the goal line.”
Currently, the National Football League (NFL), National Hockey League (NHL), PGA Tour and Ladies Professional Golf Association (LPGA) are registered with the Internal Revenue Service as nonprofit organizations. These organizations together generate more than $1 billion in annual revenue.