Limitation on amortization of certain sports franchises
Title XI — Committee on Ways and Means, The One, Big, Beautiful Bill › Subtitle C — Make America Win Again › Part 1 — Working Families over Elites
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No wording changed between Committee version and Passed the House.
How the text changed
(a) In general Section 197 is amended by redesignating subsection (g) as subsection (h) and by inserting after subsection (f) the following new subsection: (g) Limitation on amortization of certain sports franchises (1) In general In the case of a specified sports franchise intangible, subsection (a) shall be applied by substituting 50 percent of the adjusted basis for the adjusted basis. (2) Specified sports franchise intangible For purposes of this subsection, the term specified sports franchise intangible means any amortizable section 197 intangible which is— (A) a franchise to engage in professional football, basketball, baseball, hockey, soccer, or other professional sport, or (B) acquired in connection with such a franchise.. (b) Effective date The amendments made by this section shall apply to property acquired after the date of the enactment of this Act.
(a) In general Section 197 is amended by redesignating subsection (g) as subsection (h) and by inserting after subsection (f) the following new subsection: (g) Limitation on amortization of certain sports franchises (1) In general In the case of a specified sports franchise intangible, subsection (a) shall be applied by substituting 50 percent of the adjusted basis for the adjusted basis. (2) Specified sports franchise intangible For purposes of this subsection, the term specified sports franchise intangible means any amortizable section 197 intangible which is— (A) a franchise to engage in professional football, basketball, baseball, hockey, soccer, or other professional sport, or (B) acquired in connection with such a franchise.. (b) Effective date The amendments made by this section shall apply to property acquired after the date of the enactment of this Act.
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