SB5661: 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.

What the bill says

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. II 119th CONGRESS 2d Session S. 5661 IN THE SENATE OF THE UNITED STATES September 30, 2026 Mr. Warnock (for himself and Mrs. Britt ) introduced the following bill…

From the introduced text, September 30, 2026:

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. II 119th CONGRESS 2d Session S. 5661 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. 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 …

Read the full official text

Sponsors

• Warnock, Raphael (D) · primary sponsor
• Katie Boyd Britt (R, SD-AL)

Latest actions

1. September 30, 2026: Read twice and referred to the Committee on Finance.
2. September 30, 2026: Introduced in Senate

Common questions

What is SB5661?

SB5661 is a bill in Congress (119th Congress): 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.

What does SB5661 do?

In its own words: 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. II 119th CONGRESS 2d Session S. 5661 IN THE SENATE OF THE UNITED STATES September 30, 2026 Mr. Warnock (for himself and Mrs. Britt ) introduced the following bill…

What is the status of SB5661?

In committee as of September 30, 2026. Latest action: Read twice and referred to the Committee on Finance. (September 30, 2026).

Who sponsored SB5661?

Warnock, Raphael (D), with 1 co-sponsor.

Where is the official record for SB5661?

On the Congress website: https://www.congress.gov/bill/119th-congress/senate-bill/5661