Sec. 112017. Limitation on amortization of certain sports franchises
111 words·~1 min read·
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Section 197 is amended by redesignating subsection
(g)as subsection
(h)and by inserting after subsection
(f)the following new subsection: In the case of a specified sports franchise intangible, subsection
(a)shall be applied by substituting 50 percent of the adjusted basis for the adjusted basis . For purposes of this subsection, the term specified sports franchise intangible means any amortizable section 197 intangible which is— a franchise to engage in professional football, basketball, baseball, hockey, soccer, or other professional sport, or acquired in connection with such a franchise. . The amendments made by this section shall apply to property acquired after the date of the enactment of this Act.