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Ending Tax Exemptions for International Olympic Committee and Similar Organizations

This act aims to eliminate tax exemptions for the International Olympic Committee and similar organizations in the United States. This means these organizations, if they meet specific income criteria, will be required to pay taxes, potentially impacting their finances and operations. For citizens, these changes could mean potentially increased government revenue.
Key points
The International Olympic Committee and similar high-revenue organizations will lose their tax-exempt status.
The changes will apply to tax years beginning after the act's enactment.
No international treaties will provide an exemption from this new tax obligation.
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Additional Information
Print number: 117_S_3577
Sponsor: Sen. Scott, Rick [R-FL]
Process start date: 2022-02-03
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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_S_3577.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2022-02-03.

What are the main provisions?

Key points include:

  • The International Olympic Committee and similar high-revenue organizations will lose their tax-exempt status.
  • The changes will apply to tax years beginning after the act's enactment.
  • No international treaties will provide an exemption from this new tax obligation.
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 Sen. Scott, Rick [R-FL].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Taxes