S5661Referred to Committee

A bill to amend the Internal Revenue Code of 1986 to provide parity in the taxation of professional sports franchises under the limitation on the deduction for certain employee renumeration, and for other purposes.

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Introduced
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2026-09-30
Introduced
1
Cosponsors
S
ⓘ
Type

Sponsor

Raphael G. Warnock
Raphael G. Warnock
Democrat · GA · Senator
Votes with party: 81.7% (889 recorded votes)

Full profile: /officials/W000790

Source: Congress.gov · FEC

Cosponsors (1)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

Read twice and referred to the Committee on Finance.

2026-09-30

Source: Congress.gov

Committee Activity

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Plain-English Summary

Plain-English summary pending. Introduced on 2026-09-30. Check back soon — summaries are generated as bills progress through Congress.

Full Bill Text

Verbatim text published on Congress.gov via GovInfo. Use Cmd+F / Ctrl+F to search within this excerpt.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 5661 Introduced in Senate (IS)] <DOC> 119th CONGRESS 2d Session S. 5661 To amend the Internal Revenue Code of 1986 to provide parity in the taxation of professional sports franchises under the limitation on the deduction for certain employee remuneration, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES September 30, 2026 Mr. Warnock (for himself and Mrs. Britt) introduced the following bill; which was read twice and referred to the Committee on Finance _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to provide parity in the taxation of professional sports franchises under the limitation on the deduction for certain employee remuneration, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. ESTABLISHING PARITY IN TAXATION OF PROFESSIONAL SPORTS FRANCHISES. (a) In General.--Section 162(m)(3)(C) of the Internal Revenue Code of 1986 is amended to read as follows: ``(C) such employee is among the 5 highest compensated employees for the taxable year other than-- ``(i) any individual described in subparagraph (A) or (B), or ``(ii) any individual who performs services in the field of athletics (within the meaning of section 1.199A-5(b)(2)(viii) of title 26, Code of Federal Regulations (as in effect on the date of the enactment of this subparagraph)) for the taxpayer, or''. (b) Technical Amendment.--Section 162(m)(3)(D) of such Code is amended by inserting ``such employee'' before ``was a covered employee''. (c) Effective Date.--The amendments made by this section shall apply to taxable years beginning after December 31, 2026. <all>
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