No Goodwill for Harming Women Act
Sponsored By: Representative Tenney, Claudia [R-NY-24]
Introduced
Summary
Prohibits amortization deductions under section 197(e) for certain women's professional sports franchises that allow male participation. This bill would amend the Internal Revenue Code to bar that amortization deduction for specified franchises and for any property acquired in connection with them.
Show full summary
- Owners of affected teams would not be able to claim the amortization deduction for franchise goodwill and related property purchased after enactment.
- Buyers and investors would face limits on spreading purchase costs over time for tax purposes, which could affect deal structuring and valuations.
- The Secretary of the Treasury would get authority to issue regulations and verification policies to identify qualifying franchises and confirm whether male participation applies.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 1 costs, 0 mixed.
Higher taxes for women's sports owners
This bill would disallow the section 197 amortization deduction for a "specified sports franchise." A specified sports franchise would be a professional sport designated for females that allows any individual whose sex is male to participate. The bill would define "sex" as an individual's reproductive biology and genetics at birth. The disallowance would apply only to property acquired after the date of enactment. If you own or invest in such a franchise, you would not be able to claim amortization for that franchise or items acquired in connection with it. The Treasury Secretary would write rules and verification methods to identify and verify affected franchises.
Sponsors & CoSponsors
Sponsor
Tenney, Claudia [R-NY-24]
NY • R
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov