To amend the Internal Revenue Code of 1986 to provide that the conducting of certain games of chance shall not be treated as an unrelated trade or business, and for other purposes.

Summary

Amends the Internal Revenue Code to exclude from the tax on unrelated trade or business income the conducting of qualified games of chance by certain tax-exempt organizations. Describes such games as any game: (1) that does not violate State or local law; (2) that the conduct of which by for-profit organizations would violate such law; and (3) where no substantial part of the work is performed by individuals principally engaged to perform gaming services for hire. Increases the excise on State authorized wagers.

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Documents

6 official files

• Reported in House (text)

  Reported in House · EN

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• Referred in Senate (text)

  Referred in Senate · EN

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• Introduced in House (text)

  Introduced in House · EN

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• Engrossed in House (text)

  Engrossed in House · EN

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• Passed House amended

  summary · EN · 3 August 1992

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• Introduced in House

  summary · EN · 22 July 1992

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