This legislation, titled the "Let Kids Play Act," seeks to protect youth sports from exploitative investment practices by prohibiting "vulture investors" and specific "vulture practices." A vulture investor is defined as a private equity fund or controlled company that engages in harmful practices or has a history of acquired entities becoming insolvent. Vulture practices encompass actions designed to extract profit or assets at the expense of the acquired entity's long-term health, including imposing debt, transferring ownership of assets, or shielding liability. The bill broadly defines youth sports to include all associated organizations, facilities, technology, and activities for individuals under 18. The Act makes it unlawful for any vulture investor to invest in a youth sports entity and prohibits any covered firm from engaging in specified vulture practices. These prohibited practices include consolidating control through serial acquisitions, creating integrated networks that restrict choice, imposing junk fees, or demanding restrictive terms like exclusivity or multi-year non-cancelable commitments. The bill also forbids claiming intellectual property rights to youth sports data or media, and violating child safety laws. Firms are presumptively or automatically designated as vulture investors, but can seek certification by attesting they have not engaged in vulture practices, have a clean insolvency record, and will not engage in such practices in the future, with strict penalties for false certifications. Designated vulture investors are required to divest their interests within two years, which includes unwinding ownership, returning assets and intellectual property, and removing installed management. Failure to comply with divestiture milestones can lead to revenue being placed in escrow and ultimately deposited into a Youth Sports Fund. The Commission or Assistant Attorney General can impose various remedies, such as disgorging profits, refunding junk fees, forgiving debts, funding scholarships, and transferring necessary technology and data back to the youth sports entity, ensuring its financial viability and operational independence. Enforcement of the Act is granted to the Federal Trade Commission and the Assistant Attorney General, who can bring civil actions. State attorneys general are also empowered to act on behalf of their residents, and a private right of action allows affected individuals or classes to sue for treble damages, restitution, and other relief. Significantly, pre-dispute arbitration agreements and joint-action waivers are deemed invalid for disputes arising under this Act. Furthermore, vulture investors and their affiliates are held jointly and severally liable for all liabilities incurred by the youth sports entity during their control, including debt obligations, legal judgments, and safety infractions. A Youth Sports Fund will be established to receive disgorged money, which will be used to reduce participation costs, support free community access to facilities, and provide financial aid to harmed communities. The Act includes strong anti-evasion provisions, allowing authorities to disregard the form of transactions and treat entities created to avoid designation as covered firms. It also clarifies that the Act does not preempt stronger state or local laws offering greater protections against vulture practices.