(i) providing instruction in a program of physical exercise, offering facilities for the preservation, maintenance, encouragement, or development of physical fitness, or serving as the site of such a program of a State or local government,

(ii) which is not a private club owned and operated by its members,

(iii) which does not offer golf, hunting, sailing, or riding facilities,

(iv) whose health or fitness facility is not incidental to its overall function and purpose, and

(v) which is fully compliant with the State of jurisdiction and Federal anti-discrimination laws.

Exercise videos and books qualify for the deduction if the content of such materials constitute instruction in a program of physical exercise or physical activity.