S. 2379 — A bill to repeal the application of Revenue Ruling 86-63, relating to the deductibility of contributions to university athletic funds.

Summary

Provides that the Internal Revenue Code shall be applied without regard to Revenue Ruling 86-63 or any similar regulation. (Revenue Ruling 86-63 provides that no charitable contribution will be allowed for donations to university athletic scholarship funds if the donor receives the right to purchase season tickets on preferential basis.)

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Related Legislation

H.R. 4943A bill to repeal the application of Revenue Ruling 86-63, relating to the deductibility of contributions to university athletic funds.
1986-06-05Referred to House Committee on Ways and Means.
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Legislative Actions

1986-04-28
Introduced in Senate
1986-04-28
Read twice and referred to the Committee on Finance.
1986-05-01
Committee on Finance requested executive comment from OMB, Treasury Department.

A bill to repeal the application of Revenue Ruling 86-63, relating to the deductibility of contributions to university athletic funds.

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