H.R. 2637

119 HR 2637 IH: Home Run for Kids Act
 U.S. House of Representatives
 2025-04-03
 text/xml
 EN
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 I  119th CONGRESS  1st Session  H. R. 2637  IN THE HOUSE OF REPRESENTATIVES   April 3, 2025   Mr. Lawler  introduced the following bill; which was referred to the  Committee on Ways and Means    A BILL
To amend the Internal Revenue Code of 1986 to allow a nonrefundable credit for certain organized sport equipment expenses.
1.
Short title
This Act may be cited as the   Home Run for Kids Act  .
2.
Credit for organized sport equipment expenses
(a)
In general
Subpart A of part IV of subchapter A of  chapter 1  of the Internal Revenue Code of 1986 is amended by inserting before section 26 the following new section:
25F.
Organized sport equipment expenses
(a)
In general
In the case of an individual, there shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to the qualified organized sport equipment expenses paid or incurred by the taxpayer during the taxable year.
(b)
Limitations
(1)
Dollar limitation
The credit allowed under subsection (a) for the taxable year shall not exceed $200.
(2)
Income limitation
(A)
In general
The amount allowable as a credit under subsection (a) for any taxable year shall be reduced (but not below zero) by an amount which bears the same ratio to the amount so allowable (determined without regard to this paragraph but with regard to paragraph (1)) as—
(i)
the amount (if any) by which the taxpayer’s modified adjusted gross income exceeds $150,000, bears to
(ii)
$65,000.
(B)
Modified adjusted gross income
For purposes of this paragraph, the term  modified adjusted gross income  means the adjusted gross income of the taxpayer for the taxable year increased by any amount excluded from gross income under section 911, 931, or 933.
(c)
Qualified organized sport equipment expenses
For purposes of this section, the term  qualified organized sport equipment expenses  means expenses which are paid or incurred for equipment in connection with participation of a dependent of the taxpayer (with respect to whom the taxpayer is allowed a deduction under section 151(c)) in an organized sport, game, or hobby program that is conducted primarily for unrelated individuals who have not attained age 19 to engage in such sport, game, or hobby.
 .
(b)
Clerical amendment
The table of sections for subpart A of part IV of subchapter A of chapter 1 of such Code is amended by inserting before the item relating to section 26 the following new item:
Sec. 25F. Organized sport equipment expenses.
  .
(c)
Effective date
The amendments made by this section shall apply to taxable years beginning after December 31, 2023.