I
113th CONGRESS
2d Session
H. R. 4544
IN THE HOUSE OF REPRESENTATIVES
May 1, 2014
Mr. Cárdenas (for himself, Mr. Grijalva, Mrs. Napolitano, Mr. Rush, Mr. Vargas, Mr. Garcia, and Mr. Ruiz) introduced the following bill; which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to disallow a deduction for any fine paid by an owner of professional sports franchise.
Short title
This Act may be cited as the Stop Penalizing Taxpayers for Sports Owner Fouls Act of 2014
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Denial of deduction for fines paid by owner of professional sports franchise
In general
Section 162 of the Internal Revenue Code of 1986 is amended by redesignating subsection (q) as subsection (r) and by inserting after subsection (p) the following new subsection:
Fines and penalties paid by owners of professional sports franchises
In the case of an individual who owns (directly or indirectly) a professional sports franchise, no deduction shall be allowed under subsection (a) for any fine or similar penalty paid to the professional sports league or association of which the franchise is a member.
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Effective date
The amendment made by this section shall apply to amounts paid or incurred after December 31, 2013.