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Marco Rubio Olympics Bill

Marco Rubio Olympics Bill

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Published by Nick

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Categories:Types, Legal forms
Published by: Nick on Aug 03, 2012
Copyright:Attribution Non-commercial

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08/03/2012

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OTT12240 S.L.C.
112
TH
CONGRESS2
D
S
ESSION
 
S.
 ll 
To amend the Internal Revenue Code of 1986 to eliminate the tax onOlympic medals won by United States athletes.
IN THE SENATE OF THE UNITED STATES
 llllllllll 
Mr. R
UBIO
introduced the following bill; which was read twice and referredto the Committee on
 llllllllll 
A BILL
To amend the Internal Revenue Code of 1986 to eliminatethe tax on Olympic medals won by United States athletes.
 Be it enacted by the Senate and House of Representa-
1
tives of the United States of America in Congress assembled,
2
SECTION 1. ELIMINATION OF TAX ON OLYMPIC MEDALS.
3
(a) I
N
G
ENERAL
.—Section 74 of the Internal Rev-
4
enue Code of 1986 is amended by adding at the end the
5
following new subsection:
6
‘‘(d) E
 XCEPTION FOR
O
LYMPIC
M
EDALS AND
 
7
P
RIZES
.—Gross income shall not include the value of any 
8
prize or award won by the taxpayer in athletic competition
9
in the Olympic Games.’’.
10

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