To provide that certain games of chance conducted by a nonprofit organization not be treated as an unrelated trade or business of such organization.

Repeals the provision of the Tax Reform Act of 1986 that requires certain games of chance conducted by a nonprofit organization to be treated as an unrelated trade or business for tax purposes.

Allows the refund or credit of any resulting overpayment if a claim is filed before the end of the one-year period beginning on the date of enactment of this Act.