This bill establishes a new federal grant program to help cities prepare their transportation infrastructure for hosting major international sporting events like the Olympics and FIFA World Cup. The Transportation Assistance for Olympic and World Cup Cities Act authorizes 50 million dollars annually to fund planning and construction of transportation projects within 100 miles of host cities, including public transit improvements, roads, and other infrastructure that supports movement of people and goods during these events. Eligible recipients include state and local governments, transit agencies, and metropolitan planning organizations in host cities and surrounding areas, with assistance available for up to five years before an event through 30 days after it concludes. The bill also requires the Department of Commerce to study and report on how hosting the 2028 Los Angeles Olympics and 2026 World Cup affects international and domestic travel patterns, business revenues, and employment in the travel and tourism industry.