A bill to provide that income from horse races and dog races conducted by agricultural organizations described in section 501 (c) (5) of the Internal Revenue Code of 1954 shall not be unrelated business taxable income.

referredUnited States· United States Congress· EN

Introduced

10 May 1976

Last action

—

Status

Referred to House Committee on Ways and Means.

Summary

Amends the Internal Revenue Code to provide that income to agricultural organizations derived from conducting of horse races and dog races shall not be unrelated business taxable income. Denies all deductions directly connected with such races for any taxable year.

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Documents

1 official file

Introduced in House
summary · EN · 10 May 1976
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/94th-congress/house-bill/13677
Open data entity: https://api.congress.gov/v3/bill/94/hr/13677