A bill to amend the Internal Revenue Code of 1954 to treat the conducting of certain games by tax-exempt organizations as not being an unrelated trade or business and to provide similar treatment for the conducting of such games by political organizations.

Amends the Internal Revenue Code to exempt gambling activities conducted by tax-exempt and political organizations, where the wagers are placed, the winners determined, and the prizes distributed in the presence of all the players, from treatment as unrelated business activities for purposes of the unrelated business tax.