Let Kids Play Act

This bill would make it illegal for private equity firms labeled "vulture investors" to invest in youth sports organizations, and would ban certain practices by private equity firms in youth sports, such as hidden fees, required travel or hotel vendors, and multi-year contracts without early exit. Any private equity firm already invested in youth sports would be treated as a vulture investor unless it files a sworn certification that the Federal Trade Commission approves. Firms labeled vulture investors would have to sell or unwind their youth sports holdings within 2 years and could be ordered to refund fees, return assets, and keep funding scholarships. The Federal Trade Commission, the Justice Department, state attorneys general, and harmed individuals could enforce the law in court, and some collected money would go to a Youth Sports Fund to lower costs for families.

Full text and official record on Congress.gov

Sponsors

• Christopher Murphy Democrat sponsor
• 4 cosponsors