A bill to provide that income from entertainment activities held in conjunction with a public fair conducted by an agricultural organization described in section 501 (c) (5) of the Internal Revenue Code of 1954 shall not be unrelated trade or business income and shall not affect the tax exemption of the organization.

Provides that income from entertainment activities held in conjunction with a National, State, local, regional, or international fair or exposition conducted by an "agricultural organization", as defined under the Internal Revenue Code, shall not be unrelated trade or business income and shall not affect the tax exemption of the organization. (Amends 26 U.S.C. 513)