A bill to amend the Internal Revenue Code of 1954 to deny certain tax benefits for private luxury boxes at sports facilities, and for other purposes.

Amends the Internal Revenue Code to disallow an investment tax credit for any skybox or other private luxury box at a sports facility and any property used in connection with such a skybox or luxury box.

Denies an income tax deduction for the depreciation of any such skybox, luxury box, or related property.

Treats as ordinary income any gain realized on the dispostion of any such skybox, luxury box, or related property.

Repeals the exception for sports facilities from industrial development bond rules relating to the tax exclusion of interest on such bonds.