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 United States Olympic Committee.

Establishes on the books of the Treasury a fund to be known as the "United States Olympic Committee Fund." Allows an individual taxpayer to designate $1 of his income taxes for the Fund.

Provides that amounts in the fund shall be paid to the United States Olympic Committee, which shall report on the uses made of these funds.