Amateur Sports Act

Amateur Sports Act - Title I: Declaration of Policy - Makes findings and states that the policy of Congress is to promote amateur athletics and protect the right of amateur athletes to participate in athletic competition.

Title II: Olympic Committee Reorganization - Amends the corporate charter of the Olympic Committee to (1) provide for a principal place of business of the United States Olympic Committee (Corporation); (2) set forth the objectives and purposes of the Corporation; (3) set forth the powers of the Corporation; (4) provide reasonable representation for specified individuals and organizations in establishing and maintaining provisions for the governance and conduct of its affairs; and (5) subject to civil liability any person who uses an Olympic designation without authority to promote a private financial interest. Permits contributors or suppliers of goods or services to use the name of the United States Olympic Committee or its designation to advertise that such goods or services have been furnished to, approved, or selected by the Corporation.

Requires the Corporation to establish in its constitution and bylaws provisions for the resolution of disputes involving the opportunity of an amateur athlete or other specified individuals to participate in sanctioned athletic competitions.

Authorizes the Corporation to recognize as a national governing body any amateur sports organization (but only one for each sport) which submits an application for recognition and complies with eligibility requirements. Sets forth such eligibility requirements.

Sets forth the duties and powers of a national governing body and the requirements which an amateur sports organization must meet to hold an athletic competition or sponsor athletes in competition and be sanctioned by a national governing body.

Grants to the Corporation the power of review over the actions of any national governing body and invests a United States district court with jurisdiction to enjoin any action of a national governing body inconsistent with the terms of the Corporate charter.

Sets forth procedures for the Corporation in (1) processing a complaint against a national governing body by an individual athlete or an amateur sports organization; (2) revoking recognition of a national governing body; and (3) replacing an incumbent national governing body. Provides for arbitration of a determination of the Corporation.

Authorizes the Secretary of Commerce to lend financial assistance to the Corporation in developing amateur athletics in the United States. Authorizes appropriations for carrying out the work of the national governing bodies.

Directs the Secretary to conduct a feasibility study to determine the most appropriate means of providing funding to the Corporation for the construction and operation of training centers and sports medicine research facilities.