The Parity for Athletic Recreation Act removes restrictions on using certain proceeds for private or commercial golf courses and country clubs.
The Parity for Athletic Recreation Act, also known as the PAR Act, amends the Internal Revenue Code to eliminate restrictions on using certain proceeds for private or commercial golf courses and country clubs. This change applies to obligations issued after the enactment of the Act and to individuals who begin work for the employer after the enactment date. The Act aims to provide parity in the use of proceeds for these facilities.
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