A bill to amend the Internal Revenue Code of 1986 with respect to the taxation of certain sponsorship payments to tax-exempt organizations and certain amounts received by Olympic organizations.

Summary

Amends the Internal Revenue Code to declare that unrelated trade or business does not include the activity of soliciting and receiving qualified sponsorship payments (payments received by tax-exempt organizations from corporations and other sponsors in connection with certain athletic and other public events) for purposes of the tax on unrelated business income of charitable, etc., organizations. Excludes royalties received by certain tax-exempt olympic organizations for the 1996 Olympics as income from an unrelated trade or business.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 29 June 1993

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 29 June 1993

   Introduced

   Sponsor introductory remarks on measure. (CR S8234-8235)

   Source: IntroReferral

3. 29 June 1993

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 29 June 1993 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 29 June 1993

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 29 June 1993

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 29 June 1993

  Open at official source

Sponsors

• Rep. Breaux, John B. [D-LA-7] · D · Sponsor
• Sen. Pryor, David H. [D-AR] · D · Sponsor
• Sen. Boren, David L. [D-OK] · D · Sponsor
• Sen. Chafee, John H. [R-RI] · R · Sponsor
• Sen. Nunn, Sam [D-GA] · D · Cosponsor
• Sen. Heflin, Howell [D-AL] · D · Cosponsor
• Sen. Johnston, J. Bennett [D-LA] · D · Cosponsor
• Sen. Bond, Christopher S. [R-MO] · R · Cosponsor
• Sen. Hutchison, Kay Bailey [R-TX] · R · Cosponsor
• Sen. Coverdell, Paul [R-GA] · R · Cosponsor
• Sen. Hatch, Orrin G. [R-UT] · R · Cosponsor
• · ssfi00 · Standing

Related records

• related to → To amend the Internal Revenue Code of 1986 to provide an exclusion from unrelated business taxable income for certain sponsorship payments.