A bill to amend the Internal Revenue Code of 1954 to allow individuals to designate $1 of their income tax liability to be used for purposes of providing financial assistance to the U.S. Olympic Committee.

Authorizes every individual whose income tax liability, under the Internal Revenue Code, is $1 or more to designate $1 of that liability to provide financial assistance to the United States Olympic Committee.

Establishes the United States Olympic Committee Fund in the Treasury of the United States. Directs the Secretary of the Treasury to transfer amounts so designated to such fund. Directs the Secretary to pay, not less often than quarterly, such amounts in the fund to the United States Olympic Committee.