[Congressional Bills 114th Congress] [From the U.S. Government Publishing Office] [H.R. 5946 Introduced in House (IH)] <DOC> 114th CONGRESS 2d Session H. R. 5946 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. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES September 7, 2016 Mr. Dold (for himself and Mr. Farenthold) introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL 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. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``United States Appreciation for Olympians and Paralympians Act''. SEC. 2. 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. <all>