A bill to amend the Internal Revenue Code of 1986 to eliminate the tax exemption of the International Olympic Committee and similar organizations.
Irresponsible Olympic Collaboration Act or the IOC Act
This bill eliminates the tax exemption for any organization or entity whose primary purpose is the promotion of international, multi-sport, athletic competitions, and that has gross receipts in in excess of $100 million for any of the 3 preceding taxable years (e.g., the International Olympic Committee).
Referred to the House Committee on Ways and Means.
Introduced in Senate
Read twice and referred to the Committee on Finance.
Committee on Banking, Housing, and Urban Affairs. Hearings held.
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