Home Run for Kids Act

Bill 119 HR 2637, also known as the Organized Sport Equipment Expenses Credit Act, aims to amend the Internal Revenue Code of 1986 to provide a nonrefundable tax credit for certain expenses related to organized sports equipment.

Under this proposed legislation, individuals would be eligible to receive a tax credit for expenses incurred for equipment used in organized sports activities. This credit would be nonrefundable, meaning that it can only be used to offset tax liability and cannot result in a refund if the credit exceeds the amount owed in taxes.

The bill does not specify the exact amount of the tax credit or the specific types of organized sports equipment that would be eligible for the credit. However, it is intended to incentivize participation in organized sports activities by providing financial relief for the costs associated with purchasing necessary equipment. Overall, the Organized Sport Equipment Expenses Credit Act seeks to promote physical activity and healthy lifestyles by making it more affordable for individuals to participate in organized sports. It is important to note that this summary is based on the information available at the time of writing and may be subject to changes as the bill progresses through the legislative process.