A new tax reform bill was introduced on Thursday and it may affect your season tickets to see the Wildcats (or any other team you follow, both college and pro).
As it stands now, many UK season ticket holders are required to contribute to the K Fund, which then goes on to support the university and athletic department in a variety ways. That contribution is 80 percent tax deductible, but not under
this new 76-page bill.
The News & Observer writes, "Congressional Republicans are eliminating many tax deductions to help pay for lowering personal income and corporate tax rates."
This will be a major hit to college athletic departments -- and financing pro stadiums -- if it passes. The news story notes donations to college athletic departments and related booster clubs totaled $1.2 billion in 2015.
It will also hit you, the fans, because that tax deduction is a nice little perk.
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GOP tax bill hits college, pro sports]
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