A bill to amend the Internal Revenue Code of 1986 to exclude from gross income any prizes or awards won in competition in the Olympic Games or the Paralympic Games.
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)
United States Appreciation for Olympians and Paralympians Act
(Sec. 2) This bill amends the Internal Revenue Code to exclude from gross income, for income tax purposes, the value of any medal or prize money received on account of competition in the Olympic Games or Paralympic Games.
Referred to the House Committee on Ways and Means.
Became Public Law No: 114-239.
Introduced in Senate
Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S1346)
Senate Committee on Finance discharged by Unanimous Consent.(consideration: CR S5010-5011)
Senate Committee on Finance discharged by Unanimous Consent. (consideration: CR S5010-5011)
Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.(text: CR S5011)
Passed Senate without amendment by Unanimous Consent. (text: CR S5011)
Ordered held at desk.
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