S. 2650Senate114th Congress (2015-2017)Passed Senate

United States Appreciation for Olympians and Paralympians Act

Legislative Activity

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5 earlier actions

SenateFloor Latest Action

Ordered held at desk.

July 12, 2016

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SenateIntro Referral

Introduced in Senate

March 8, 2016

SenateIntro Referral

Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S1346)

Finance Committee

March 8, 2016

SenateCommittee

Senate Committee on Finance discharged by Unanimous Consent.(consideration: CR S5010-5011)

Finance Committee

July 12, 2016

SenateDischarge

Senate Committee on Finance discharged by Unanimous Consent. (consideration: CR S5010-5011)

Finance Committee

July 12, 2016

SenateFloor

Passed Senate without amendment by Unanimous Consent. (text: CR S5011)

July 12, 2016

SenateFloor

Ordered held at desk.

July 12, 2016

Bill Text

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Engrossed in SenateIssued July 12, 2016

114th CONGRESS

2d Session

S. 2650

AN ACT

To amend the Internal Revenue Code of 1986 to exclude from gross income any prizes or awards won in competition in the Olympic Games or the Paralympic Games.

Short title

This Act may be cited as the United States Appreciation for Olympians and Paralympians Act.

Olympic and Paralympic medals and USOC prize money excluded from gross income

(a)

In general

Section 74 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection:

(d)

Exception for Olympic and Paralympic medals and prizes

Gross income shall not include the value of any medal awarded in, or any prize money received from the United States Olympic Committee on account of, competition in the Olympic Games or Paralympic Games.

(b)

Effective date

The amendment made by this section shall apply to prizes and awards received after December 31, 2015.

Passed the Senate July 12, 2016.

Secretary