Bill > HR8788

This bill, titled the "Let Kids Play Act," aims to prevent "vulture investors"—defined as private equity funds or companies controlled by them that engage in harmful practices or have a history of acquired entities failing financially—from investing in or controlling youth sports organizations. It prohibits these vulture investors from engaging in "vulture practices," which are defined as actions taken to extract profit at the expense of the acquired entity, such as imposing excessive debt, transferring assets, shielding themselves from liability, consolidating control through serial acquisitions, degrading operations to maximize profit, imposing burdensome fees, or enforcing one-sided terms. The bill also establishes a process for designating entities as vulture investors, allowing for certification to rebut this designation if certain conditions are met, and imposes penalties for false certifications. Furthermore, it mandates divestiture of any youth sports entities controlled by vulture investors within two years, outlines remedies for violations, and grants enforcement powers to the Federal Trade Commission (FTC) and the Assistant Attorney General for the Antitrust Division, while also allowing for private rights of action and establishing a Youth Sports Fund for money recovered.