,,ii  #aahth ,,congress  #ast ,session  
,s4 #beai  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,july #bf1     
#bjbc,mr4 ,wyden introduced the         
following bill2 which was read twice and
 referred to the ,committee on ,finance 
,a ,,bill  ,to amend the ,internal      
,revenue ,code of #aihf to impose an    
asset test on professional sports       
leagues qualifying for #eja7;c77#f7     
status4  #a4 ,short title ,this ,act may
 be cited as the ,sports ,league        
,tax-,exempt ,status ,limitation ,act4  
#b4 ,asset test for professional sports 
leagues  7a7 ,in general ,paragraph 7#f7
 of section #eja7;c7 of the ,internal   
,revenue ,code of #aihf is amended--    
7#a7 by inserting 7,a7 after 7#f7 1 and 
7#b7 by adding at the end the following 
new subparagraph3  7,b7 ,subparagraph   
7,a7 shall not apply to any professional
 football league if the average annual  
value of the assets of such league1 as  
reported on the league's annual return1 
for any #c-taxable-year period beginning

 after ,december #ca1 #bjbj1 exceeds    
#ejj1jjj1jjj4  4  7b7 ,effective date   
,the amendments made by this section    
shall apply to taxable years beginning  
after ,december #ca1 #bjbc4