HB6703: To amend the Internal Revenue Code of 1986 to allow a nonrefundable credit for certain organized sport equipment expenses.
- 1Introduced (current step)
- 2Passed One Chamber
- 3Passed Both Chambers
- 4Became Law
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Bill information
Summary
To amend the Internal Revenue Code of 1986 to allow a nonrefundable credit for certain organized sport equipment expenses.
Plain-language summary
This bill would let people claim a tax credit—a reduction in taxes owed—for money spent on organized sports equipment. A nonrefundable credit means you can reduce your tax bill but won't receive money back if the credit exceeds what you owe. The bill amends federal tax law and is currently in the early stage after being introduced in Congress. The bill specifies which sports equipment expenses qualify, though the full details would appear in the complete bill text.
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HB6703: To amend the Internal Revenue Code of 1986 to allow a nonrefundable credit for…