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Ending Tax Exemptions for International Olympic Committee and Similar Organizations

This bill aims to end tax exemptions for the International Olympic Committee and similar organizations that generate significant revenue. This means these organizations will be required to pay taxes in the United States, potentially impacting their finances and operations.
Key points
The act eliminates tax exemptions for international multi-sport athletic organizations with high revenues.
Changes apply to organizations with gross receipts exceeding $100 million in any of the three preceding tax years.
New tax rules will apply to taxable years beginning after the act's enactment, overriding any prior treaty obligations.
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Expired
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Additional Information
Print number: 117_HR_6433
Sponsor: Rep. Waltz, Michael [R-FL-6]
Process start date: 2022-01-19
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

IOC Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_6433.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-01-19.

What are the main provisions?

Key points include:

  • The act eliminates tax exemptions for international multi-sport athletic organizations with high revenues.
  • Changes apply to organizations with gross receipts exceeding $100 million in any of the three preceding tax years.
  • New tax rules will apply to taxable years beginning after the act's enactment, overriding any prior treaty obligations.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Waltz, Michael [R-FL-6].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Taxes