To amend the Internal Revenue Code of 1986 to provide a mechanism for taxpayers to designate $1 of any overpayment of income tax, and to contribute other amounts, for use by the United States Olympic Committee.
United States Olympic Checkoff Act - Amends the Internal Revenue Code to allow taxpayers to designate on their income tax returns a contribution of one dollar of their income tax refunds and any voluntary cash contributions for use by the U.S. Olympic Committee.
Establishes in the Treasury a U.S. Olympic Trust Fund to receive these amounts. Directs the Secretary of the Treasury to transfer amounts to the U.S. Olympic Committee at least quarterly.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
Executive Comment Requested from Treasury.
Unfavorable Executive Comment Received from Treasury.
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