Amends the Internal Revenue Code to exempt from the occupational excise tax on wagering any tax-exempt charitable organization and any person engaged in receiving wagers only on behalf of such organization, if the only wagers accepted by the organization (and the person) are authorized under the law of the State in which accepted.
Provides for taxing a percentage of wagering winnings in excess of charitable expenditures.
Pocket Vetoed by President.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
Reported by the Committee on Ways and Means. H. Rept. 102-718.
Reported by the Committee on Ways and Means. H. Rept. 102-718.
Placed on the Union Calendar, Calendar No. 408.
Mr. Gibbons moved to suspend the rules and pass the bill.
Considered under suspension of the rules.
DEBATE - The House proceeded with forty minutes of debate.
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.
On motion to suspend the rules and pass the bill Agreed to by voice vote.
Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate and read twice and referred to the Committee on Finance.
See H.R.11.
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