,,ii #aaith ,,congress #b;d ,session ,s4 #debb ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,may #ac1 #bjbf,mr4 ,murphy 7for himself and ,mr4 ,booker7 introduced the following bill2 which was read twice and referred to the ,committee on ,banking1 ,housing1 and ,urban ,affairs ,a ,,bill ,to prohibit vulture investors from investing in youth sports1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,let ,kids ,play ,act4 #b4 ,definitions ,in this ,act3 7#a7 ,acquired entity ,the term acquired entity means any company or organization in which a covered firm1 directly or indirectly1 holds an ownership interest1 maintains a management or operational control agreement1 or exercises control4 7#b7 ,affiliate ,the term affiliate means an entity that controls1 is controlled by1 or is under common control with another entity4 7#c7 ,assistant ,attorney ,general ,the term ,assistant ,attorney ,general means the ,assistant ,attorney ,general for the ,antitrust ,division of the ,united ,states ,department of ,justice4 7#d7 ,capital distribution ,the term capital distribution means-- 7,a7 a cash or share dividend2 7,b7 a share repurchase2 7,c7 a share redemption2 or 7,d7 a share buyback4 7#e7 ,commission ,the term ,commission means the ,federal ,trade ,commission4 7#f7 ,company ,the term company has the meaning given the term in section #b of the ,investment ,company ,act of #aidj 7#ae ,u4,s4,c4 #hj;a-#b74 7#g7 ,control ,the term control has the meaning given the term in section #b of the ,investment ,company ,act of #aidj 7#ae ,u4,s4,c4 #hj;a-#b74 7#h7 ,covered firm ,the term covered firm means-- 7,a7 a private equity fund2 or 7,b7 a company that is owned or controlled by a private equity fund4 7#i7 ,invest ,the term invest means to own1 operate1 control1 manage1 or otherwise direct the operation of the whole or any part of an entity or facility1 including by entering into a management agreement or operational control agreement with an entity or facility4 7#aj7 ,operational control agreement ,the term operational control agreement means any formal or informal contract1 agreement1 or understanding1 whether written or oral 7including a limited partnership agreement1 side letter1 or any agreement between or among investors7 through which a covered firm obtains the authority to influence or determine key operational decisions of a youth sports facility1 or where such authority is contractually delegated to the private equity fund by other investors or parties1 including decisions relating to-- 7,a7 staffing and personnel2 7,b7 scheduling and programming2 7,c7 budgeting and financial management2 7,d7 use and maintenance of athletic facilities2 or 7,e7 terms of participation or membership4 7#aa7 ,private equity fund ,the term private equity fund means a person who-- 7,a7 would be an investment company1 as defined in the ,investment ,company ,act of #aidj1 but for paragraphs 7#a7 or 7#g7 of section #c7;c7 of that ,act 7#ae ,u4,s4,c4 #hj;a-#c72 and 7,b7 directly1 or through an affiliate1 exercises control of such company4 7#ab7 ,vulture investor ,the term vulture investor means any covered firm that-- 7,a7 engages1 or has previously engaged1 in vulture practices with respect to an entity that was an acquired entity at the time of such engagement2 or 7,b7 has had #b or more acquired entities become financially insolvent or enter bankruptcy proceedings within #e years of acquisition4 7#ac7 ,vulture practice ,the term vulture practice means any practice1 term1 condition1 tactic1 instrument1 method1 or act that causes harm or creates long-term risk of harm to an acquired entity in order to extract profit1 assets1 or other value for the benefit of a covered firm or its affiliates1 including-- 7,a7 imposing any debt on an acquired entity to generate profit1 finance the acquisition or other business activity1 or otherwise create value for a covered firm2 7,b7 transferring to a covered firm the ownership or control of an acquired entity's assets or rights to the intellectual property or data generated by an acquired entity2 7,c7 shielding a covered firm from liability for legal infractions or financial obligations it benefits from or directly or indirectly causes2 7,d7 employing roll-up strategies through serial acquisitions or investments to consolidate control over local providers1 including by acquiring1 controlling1 managing1 financing1 advising1 or exercising governance rights2 7,e7 converting an acquired entity into a high-risk1 high-margin business by increasing prices1 adding junk fees1 reducing quality or safety1 cutting jobs1 wages1 or benefits1 or otherwise degrading operations to maximize profit2 7,f7 imposing operational costs on an acquired entity such as management fees1 leases for seized assets1 capital distribution1 or other burdensome or unnecessary charges2 or 7,g7 imposing one-sided terms on an acquired entity1 or its customers1 workers1 clients1 buyers1 or others that lock them into exclusive dealings with entities controlled by the covered firm1 or that otherwise exploit or restrict choice4 7#ad7 ,youth sports ,the term youth sports means any organization1 asset1 service1 or activity associated with organized athletic participation1 instruction1 or competition for individuals under the age of #ah1 including the following3 7,a7 ,all leagues1 clubs1 associations1 and teams at the recreational1 travel1 and elite levels4 7,b7 ,all youth sports facilities1 physical assets1 and infrastructure4 7,c7 ,all associated technology and intellectual property1 including registration platforms1 scheduling software1 scoring systems1 proprietary training methods1 performance metric technology1 and related data collection and algorithms4 7,d7 ,all youth sports training camps1 tournaments1 and showcases4 7,e7 ,all nonprofit and for-profit entities that provide or facilitate any aspect of the activities described in subparagraphs 7,a7 through 7,d74 7#ae7 ,youth sports entity ,the term youth sports entity means any person1 company1 partnership1 corporation1 association1 affiliate1 or organization 7whether for-profit or nonprofit7 that provides1 operates1 manages1 or facilitates youth sports4 7#af7 ,youth sports facility ,the term youth sports facility means a field1 court1 stadium1 sports complex1 gymnasium1 or similar athletic facility that is used for recreational1 competitive sporting activities or to provide ancillary services for participants under the age of #ah1 including as a part of a school-sponsored team1 recreational league1 or community-based program4 7#ag7 ,youth ,sports ,fund ,the term ,youth ,sports ,fund means the fund established under section #h4 #c4 ,prohibition on vulture investment in youth sports 7a7 ,vulture investor prohibition ,it shall be unlawful for any vulture investor to invest in a youth sports entity4 7b7 ,vulture practice prohibition ,it shall be unlawful for any covered firm to engage in vulture practices in connection with investment in a youth sports entity1 including by doing any of the following3 7#a7 ,consolidating control over youth sports by rolling up multiple youth sports entities1 or acquiring1 controlling1 managing1 financing1 advising1 exercising governance rights for1 or investing in more than #a entity that-- 7,a7 exclusively serves multiple youth sports entities2 or 7,b7 supplies products or services that are essential or mandatory for participation in youth sports4 7#b7 ,creating an integrated network of activities1 services1 partnerships1 tournaments1 apparel1 or tech platforms1 where participation in one requires1 directly or indirectly1 the use of others owned or controlled by the covered firm or offered by a third-party partner of the covered firm4 7#c7 ,conditioning eligibility to participate in any aspect of youth sports on the use of a designated travel agent1 hotel or lodging accommodation1 or transportation entity4 7#d7 ,imposing junk fees or other hidden or unfair charges in connection with youth sports participation1 including any fee or additional cost that-- 7,a7 is not clearly and conspicuously disclosed before a youth registers1 commits1 or makes a payment to participate in youth sports1 including any late-stage fee added after an initial price is presented or paid2 7,b7 is mandatory or effectively unavoidable as a condition of participation after a youth registers1 commits1 or makes a payment2 7,c7 penalizes a youth participant or family for declining to purchase goods or services2 7,d7 is unnecessary such that it incurs nominal or no cost to provide2 7,e7 is excessive such that it is disproportional to the cost to provide2 or 7,f7 duplicates1 overlaps with1 or is bundled with other fees or charges such that the cost is obscured or incurred more than once for the same or similar goods or services4 7#e7 ,imposing any of the following terms3 7,a7 ,exclusivity1 non-compete1 or right of first refusal requirements that directly or indirectly limit activities1 services1 partnerships1 tournaments1 apparel1 or tech platforms in youth sports to those controlled or owned by the covered firm or their third-party partners4 7,b7 ,multi-year1 non-cancelable commitments binding youth sports participants or entities for #b or more seasons without early termination rights4 7,c7 ,bans or restrictions1 direct or indirect1 on participating in competing tournaments or other non-affiliated athletic events offering within #aej miles4 7,d7 ,bans or restrictions1 direct or indirect1 on using competing tech platforms1 including non-affiliated scheduling1 registration1 or analytics tools4 7#f7 ,claiming1 securing1 transferring1 or licensing by or to a covered firm1 an entity affiliated with or controlled by a covered firm1 or any third party unaffiliated with youth sports1 the intellectual property rights to any of the following3 7,a7 ,record1 broadcast1 report1 attend1 portray1 share1 or otherwise capture any aspect of youth sports4 7,b7 ,any athlete biometric1 performance1 or family financial data1 including but not limited to heart rate1 global positioning system tracking1 injury history1 scouting reports1 or parental payment records4 7,c7 ,any technology or algorithms1 including software1 models1 or predictive systems developed in connection with any aspect of youth sports4 7#g7 ,violating any provision of the ,protecting ,young ,victims from ,sexual ,abuse and ,safe ,sport ,authorization ,act of #bjag 7#cf ,u4,s4,c4 #bbjeda et seq474 7#h7 ,engaging in any other practice1 term1 condition1 tactic1 instrument1 method1 or act that the ,commission or ,assistant ,attorney ,general has determined to be a vulture practice and has published notice thereof in the ,federal ,register without regard to the requirements under section #eec of title #e1 ,united ,states ,code4 #d4 ,vulture investor designation 7a7 ,designation 7#a7 ,presumptive designation for existing investment as of the date of enactment of this ,act ,any covered firm that is invested in a youth sports entity as of the date of enactment of this ,act shall be presumed to be a vulture investor for all purposes under this ,act4 7#b7 ,automatic designation for existing investment after the date of enactment of this ,act ,any covered firm that is invested in a youth sports entity as of the date of enactment of this ,act shall be automatically designated as a vulture investor #ia days after the date of enactment of this ,act unless certified under subsection 7b74 7#c7 ,designation for prospective investment after the date of enactment of this ,act ,a covered firm that is seeking to invest in a youth sports entity on or after the date of enactment of this ,act shall be designated a vulture investor for all purposes under this ,act and shall not initiate or proceed with any such investment unless and until certified under subsection 7b74 7b7 ,certification 7#a7 ,requirements ,a covered firm may rebut the designation under subsection 7a7 only by submitting to the ,commission a sworn certification1 executed under penalty of perjury and subject to strict liability for any material misstatement or omission1 by each general partner or equivalent individual with management authority over the covered firm1 attesting that-- 7,a7 the covered firm and any affiliate1 predecessor1 successor1 or entity under common control has never engaged in a vulture practice2 7,b7 not more than #a acquired entity of the covered firm1 including all affiliated or commonly controlled entities1 has become financially insolvent or entered bankruptcy proceedings within #e years of acquisition2 and 7,c7 the covered firm will not engage in any vulture practice at any time4 7#b7 ,timing of certification submission 7,a7 ,covered firms invested as of the date of enactment of this ,act ,not later than #fj days after the date of enactment of this ,act1 a covered firm invested in a youth sports entity as of the date of enactment of this ,act may submit a certification under paragraph 7#a74 7,b7 ,covered firms seeking to invest after the date of enactment of this ,act ,a covered firm seeking to invest in a youth sports entity after the date of enactment of this ,act shall submit a certification under paragraph 7#a7 not less than #fj days prior to initiating such investment4 7#c7 ,effect on operations ,a certification under paragraph 7#a7 shall have no force or effect unless and until approved by the ,commission1 and no certification submission1 pendency1 or review shall stay1 delay1 or otherwise affect any designation or obligation under this ,act4 7#d7 ,disposition of certification ,any certification under paragraph 7#a7 not approved on or before the date that is #ca days after the date of submission shall be deemed denied by operation of law4 7#e7 ,termination of certification ,the ,commission or the ,assistant ,attorney ,general may terminate a certification at any time by notifying the covered firm and publishing a notice in the ,federal ,register1 and1 effective on the date of publication1 the covered firm shall be automatically designated as a vulture investor for the purposes of this ,act4 7c7 ,false certification 7#a7 ,civil penalty ,any covered firm that submits a certification under subsection 7b7 that contains a material misstatement or omission shall be liable for a civil penalty of not less than #a1jjj1jjj per certification1 which shall-- 7,a7 be assessed separately for each false certification submitted under subsection 7b72 7,b7 be imposed jointly and severally on the covered firm and each individual who executes such certification1 including each general partner or equivalent individual with management authority over the covered firm1 without right of indemnification1 reimbursement1 insurance1 or contribution from any covered firm1 affiliate1 or other person1 and any agreement to the contrary shall be void as against public policy2 7,c7 apply by operation of law upon submission of such certification and may be enforced by the ,commission or the ,assistant ,attorney ,general2 and 7,d7 be deposited into the ,youth ,sports ,fund4 7#b7 ,criminal liability ,any individual who knowingly or willfully executes or submits a certification under subsection 7b7 that contains a material misstatement or omission shall be fined under title #ah1 ,united ,states ,code1 imprisoned for not more than #a year1 or both1 and may be prosecuted under this subsection1 section #ajja of title #ah1 ,united ,states ,code1 or both4 7d7 ,limitation on review ,any determination by the ,commission or the ,assistant ,attorney ,general under this section1 including the approval1 denial1 or termination of a certification1 shall not stay1 enjoin1 or otherwise delay the application of any requirement under this ,act1 including through temporary restraining order1 preliminary injunction1 or other equitable relief4 #e4 ,divestiture and remedies 7a7 ,divestiture ,not later than #b years after the date of enactment of this ,act or after designation as a vulture investor1 a vulture investor shall cure any violation of this ,act by-- 7#a7 divesting or unwinding any ownership stakes1 acquisitions1 rights1 agreements1 contracts1 terms1 and exclusivity arrangements related to the ownership1 operation1 control1 management1 or other direction of any youth sports entity2 7#b7 returning1 transferring1 or assigning ownership of all assets1 real estate1 and intellectual property1 including trademarks1 copyrights1 patents1 and related rights acquired by a vulture investor from a youth sports entity or generated by its activities1 or1 in the event of a non-reversible sale of a physical asset or real estate to an unaffiliated third party1 the vulture investor shall pay the youth sports entity the full proceeds the vulture investor received from the sale or the market value at the time of sale1 whichever is higher2 and 7#c7 at the time of designation as a vulture investor1 removing any individuals installed by the vulture investor from any management1 senior executive1 or board position within any youth sports entity4 7b7 ,divestiture process 7#a7 ,guidance ,not later than #cj days after the date of enactment of this ,act1 the ,chair of the ,commission shall issue guidance specifying milestones for divestment within the deadline established under subsection 7a7 by publishing notice thereof in the ,federal ,register without regard to the provisions under section #eec of title #e1 ,united ,states ,code4 7#b7 ,penalties for failure to comply ,for any entity subject to divestiture under subsection 7a7 that does not comply with the milestones specified under paragraph 7#a71 except in cases in which divestiture is blocked under paragraph 7#e71 the ,chair of the ,commission or the ,assistant ,attorney ,general shall cause #aj percent of all revenue received by the vulture investor attributable to the youth sports entity to be transferred into escrow on a monthly basis1 which shall be-- 7,a7 returned to the vulture investor if divestment occurs by the deadline under subsection 7a72 or 7,b7 deposited into the ,youth ,sports ,fund if divestment does not occur by the deadline under subsection 7a74 7#c7 ,reporting period ,any divestment required under subsection 7a7 shall be reported to the ,commission and the ,assistant ,attorney ,general under section #g;,a of the ,clayton ,act 7#ae ,u4,s4,c4 #ah;a7 without respect to the thresholds under subsection 7a77#b7 of that section4 7#d7 ,review of divestiture ,with respect to each divestiture undertaken pursuant to subsection 7a71 in addition to any applicable review under section #g;,a of the ,clayton ,act 7#ae ,u4,s4,c4 #ah;a71 the ,commission and the ,assistant ,attorney ,general shall review the effect on competition1 financial viability1 and the public interest-- 7,a7 of the divestiture2 and 7,b7 of the subsequent acquisition of the divested entity by the acquiring person4 7#e7 ,blocking divestiture ,the ,commission and the ,assistant ,attorney ,general1 jointly or separately1 may bring a civil action in any court of competent jurisdiction to block any divestiture that would constitute a violation of this ,act or harm competition1 result in financial insolvency1 or result in a conflict of interest to the detriment of the public interest4 7#f7 ,trustee ,if divestiture does not occur by the divestiture deadline under subsection 7a71 a divestiture trustee appointed by the ,chair of the ,commission or the ,assistant ,attorney ,general and paid for in full by the vulture investor subject to divestiture shall oversee the required divestiture and shall have the authority to sell the youth sports entity to which the divestiture requirement applies4 7c7 ,remedies in connection with divestiture 7#a7 ,in general ,as a condition of or in connection with any divestiture under this section1 the ,commission or the ,assistant ,attorney ,general may impose1 require1 supervise1 and enforce such restrictions and remedies as are necessary to cure1 mitigate1 or prevent any violation of this ,act4 7#b7 ,divestiture compliance ,no divestiture required under this section shall be considered complete or in compliance with this ,act unless and until the ,commission or the ,assistant ,attorney ,general determines that all such remedies have been satisfied4 7#c7 ,types of remedies ,the ,commission or the ,assistant ,attorney ,general may require a vulture investor to-- 7,a7 cease and desist from any violation of this ,act2 7,b7 disgorge any revenue1 fees1 special dividends1 or other forms of profit extracted from a youth sports entity through vulture practices1 including any pre-judgment and post-judgment interest2 7,c7 refund all junk fees charged directly or indirectly to customers2 7,d7 forgive and void in full any debts or outstanding payments owed by the youth sports entity1 the local community1 and any employees1 families1 participants1 or customers that were related to or resulted from vulture practices under this ,act2 7,e7 fund any scholarship or financial aid programs that existed at the acquisition1 including during the #a-year period before the date of acquisition1 at the pre-acquisition funding level for a minimum period of #e years2 7,f7 pay the youth sports entity any proceeds the vulture investor received from leasing1 licensing1 or granting access rights to any asset1 real estate1 or intellectual property the youth sports entity owned1 controlled1 generated1 procured1 or paid for prior to or during the period of investment2 7,g7 transfer all data1 algorithms1 software1 licenses1 platforms1 and other technology necessary to operate the business effectively to the youth sports entity1 and relinquish any past1 present1 or future ownership or rights thereto2 7,h7 disgorge or delete any proprietary customer1 participant1 or operational data acquired or collected during the period of investment1 as directed by the ,commission or the ,assistant ,attorney ,general2 7,i7 compensate for any asset transfers or transactions that diminished the value or viability of the youth sports entity2 and 7,j7 provide any other relief necessary to restore the financial viability1 operational independence1 and competitive position of the youth sports entity4 7d7 ,post-divestiture jurisdiction ,the ,commission and the ,assistant ,attorney ,general shall retain jurisdiction for a period of not less than #a year following the completion of any divestiture under this section to-- 7#a7 monitor compliance with this ,act and any conditions or remedies imposed under this subsection2 7#b7 impose additional conditions or remedies as necessary2 7#c7 modify or terminate previously imposed conditions or remedies2 and 7#d7 require additional transfers1 payments1 or operational changes to ensure compliance with this ,act and the effectiveness of the divestiture4 7e7 ,administrative authority 7#a7 ,in general ,the authority under this section may be exercised without any requirement to prove a violation in court and may be based on designation as a vulture investor or a failure to obtain or maintain certification under section #d1 or the application of this section4 7#b7 ,orders ,the ,commission or the ,assistant ,attorney ,general may issue such orders as are necessary to carry out this section1 including orders requiring compliance with any condition or remedy imposed under this subsection4 7#c7 ,escrow ,the ,commission or the ,assistant ,attorney ,general may require that funds1 proceeds1 or other assets be placed in escrow or otherwise withheld pending satisfaction of the divestiture1 or any condition or remedy imposed under this section4 #f4 ,enforcement 7a7 ,in general ,the ,commission or the ,assistant ,attorney ,general may enforce this ,act1 including any divestiture1 condition1 restriction1 or remedy imposed under section #e1 by-- 7#a7 exercising the administrative authorities provided under this ,act2 or 7#b7 bringing a civil action in an appropriate district court of the ,united ,states4 7b7 ,powers of the ,commission 7#a7 ,in general ,the ,commission shall enforce this ,act or an order1 requirement1 guidance1 rule1 process1 or procedure authorized under this ,act in the same manner1 by the same means1 and with the same jurisdiction1 powers1 and duties as though all applicable terms and provisions of the ,federal ,trade ,commission ,act 7#ae ,u4,s4,c4 #da et seq47 were incorporated into and made a part of this ,act4 7#b7 ,unfair or deceptive acts or practices2 unfair methods of competition ,a violation of this ,act or an order1 requirement1 guidance1 rule1 process1 or procedure authorized by this ,act shall also constitute a violation of section #e7;a7 of the ,federal ,trade ,commission ,act 7#ae ,u4,s4,c4 #de7;a77 regarding unfair methods of competition or a rule defining an unfair or deceptive act or practice under section #ah7;a77#a77;,b7 of the ,federal ,trade ,commission ,act 7#ae ,u4,s4,c4 #eg;a7a77#a77;,b774 7#c7 ,privileges and immunities ,any person who violates this ,act or an order1 requirement1 guidance1 rule1 process1 or procedure authorized by this ,act shall be subject to the penalties and entitled to the privileges and immunities provided in the ,federal ,trade ,commission ,act 7#ae ,u4,s4,c4 #da et seq474 7c7 ,actions by ,state attorneys general 7#a7 ,in general ,if the attorney general of a ,state has reason to believe that an interest of the residents of the ,state has been or is being threatened or adversely affected by a practice that violates this section1 the attorney general of the ,state may1 as parens patriae1 bring a civil action on behalf of the residents of the ,state in an appropriate district court of the ,united ,states4 7#b7 ,rule of construction ,for purposes of bringing a civil action under this subsection1 nothing in this ,act shall be construed to prevent an attorney general1 official1 or agency of a ,state from exercising the powers conferred on the attorney general1 official1 or agency by the laws of such ,state to conduct investigations1 administer oaths and affirmations1 or compel the attendance of witnesses or the production of documentary and other evidence4 7d7 ,private right of action ,any individual or class of individuals adversely affected by a covered firm's violation of this ,act1 or a regulation promulgated thereunder1 may bring a civil action in any court of competent jurisdiction against the covered firm4 7e7 ,award ,in a civil action brought under this ,act in which the plaintiff prevails1 the court may award-- 7#a7 damages in an amount equal to-- 7,a7 #c times the amount of actual monetary damages incurred as a result of the violation2 or 7,b7 in the event of a willful violation1 an amount determined appropriate by the court1 but in no case shall such amount be less than the amount described in subparagraph 7,a72 7#b7 restitution or other appropriate equitable relief2 7#c7 reasonable attorney's fees and litigation costs2 7#d7 any condition1 restriction1 or remedy described in section #e2 and 7#e7 any other relief that the court determines appropriate4 7f7 ,right to jury trial ,either party1 upon request1 shall have the right to a jury trial4 7g7 ,invalidity of pre-dispute arbitration agreements and pre-dispute joint action waivers 7#a7 ,definitions ,for purposes of this subsection3 7,a7 ,pre-dispute arbitration agreement ,the term pre-dispute arbitration agreement means any agreement to arbitrate a dispute that has not arisen at the time of the making of the agreement4 7,b7 ,pre-dispute joint-action waiver ,the term pre-dispute joint-action waiver means an agreement1 whether or not part of a pre-dispute arbitration agreement1 that would prohibit or waive the right of #a of the parties to the agreement to participate in a joint1 class1 or collective action in a judicial1 arbitral1 administrative1 or other related forum1 concerning a dispute that has not yet arisen at the time of the making of the agreement4 7#b7 ,invalidity ,notwithstanding any other provision of law1 no pre-dispute arbitration agreement or pre-dispute joint action waiver shall be valid or enforceable with regard to a dispute arising under this ,act4 7#c7 ,applicability ,any determination as to whether or how this subsection applies to any dispute shall be made by a court1 rather than an arbitrator1 without respect to whether such agreement purports to delegate such determination to an arbitrator4 #g4 ,joint and several liability ,notwithstanding any other provision of law1 or the terms of any contract or agreement1 a vulture investor1 including any control person or affiliate1 shall be held jointly and severally liable with the youth sports entity for all liabilities incurred by the youth sports entity during the period of the vulture investor's control1 including-- 7#a7 all debt obligations assumed by the youth sports entity2 7#b7 legal judgments2 7#c7 pension-related obligations2 and 7#d7 any legal1 regulatory1 or safety infractions including1 but not limited to1 child safety1 labor violations1 and facility code failures4 #h4 ,youth sports fund ,any money disgorged pursuant to an action under this ,act without a specified recipient shall be deposited in a youth sports fund created and distributed under terms set by the ,commission to be put to use in the interest of serving the youth sports needs of the harmed community or communities1 including by-- 7#a7 providing funds to youth sports entities to reduce or eliminate participation costs for families2 7#b7 supporting free community access to youth sports facilities2 7#c7 increasing financial aid or scholarships2 or 7#d7 otherwise providing any necessary funding to ensure a divested youth sports entity can operate at a safe and effective level4 #i4 ,authority to implement this act ,the ,commission shall have the authority to issue orders1 requirements1 guidance1 rules1 processes1 or procedures necessary to implement this ,act by publishing notice thereof in the ,federal ,register without regard to the provisions under section #eec of title #e1 ,united ,states ,code4 #aj4 ,preemption ,nothing in this ,act shall be construed to restrict or preempt any ,state or local law that-- 7a7 provides protection against vulture practices or a covered firm that are greater than those set forth in this ,act2 7b7 imposes civil or criminal sanctions or penalties greater than those imposed by this ,act2 or 7c7 creates any public or private right of action relating to vulture practices or a covered firm4 #aa4 ,anti-evasion 7a7 ,in general ,it shall be unlawful for any person to structure1 restructure1 or otherwise arrange any transaction1 relationship1 or agreement for the purpose of evading the requirements of this ,act4 7b7 ,substance over form ,for purposes of determining compliance with this ,act1 the ,commission and the ,assistant ,attorney ,general may disregard the form of any transaction and consider its substance4 7c7 ,treatment as a covered firm ,any entity created1 reorganized1 or utilized for the purpose of avoiding designation under this ,act shall be deemed to be a covered firm4