United States Olympic Development Fund Checkoff Act of 1979

United States Olympic Development Fund Checkoff Act of 1979 - Amends the Internal Revenue Code to permit taxpayers to designate on their income tax returns that either $1 of any tax refund or $1 of any contribution which the taxpayer forwards with his return shall be payable to the United States Olympic Development Fund.

Establishes the United States Olympic Development Fund under the auspices of the Secretary of the Treasury for the receipt of tax contributions and payment to the United States Olympic Development Fund. Directs the United States Olympic Committee to use such funds for a program to expand and improve amateur athletics in the United States.

Requires reports on the expenditure of such funds to be submitted by the United States Olympic Committee and the President's Council on Physical Fitness and Sports.