A bill to amend the Internal Revenue Code of 1954 to exempt operators of punchboards from the occupational tax on wagering.

Amends the Internal Revenue Code to exempt punchboard operators from the occupational tax on wagering. Defines "punchboard" as a board used in a type of wagering in which entitlement to a prize is determined by the punching or drawing of numbers or other symbols from holes or other receptacles of uniform size in such board.