A bill to amend the Internal Revenue Code of 1986 to provide changes in application of wagering taxes to charitable organizations.

Summary

Amends the Internal Revenue Code to exempt from the occupational excise tax on wagering any tax-exempt charitable organization and any person engaged in receiving wagers only on behalf of such organization, if the only wagers accepted by the organization (and the person) are authorized under the law of the State in which accepted. Provides for taxing a percentage of wagering winnings in excess of charitable expenditures.

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

Timeline

1. 3 March 1993

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 3 March 1993

   Introduced

   Sponsor introductory remarks on measure. (CR S2354)

   Source: IntroReferral

3. 3 March 1993

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 3 March 1993 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 3 March 1993

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 3 March 1993

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 3 March 1993

  Open at official source

Sponsors

• Sen. Daschle, Thomas A. [D-SD] · D · Sponsor
• Rep. Brown, Hank [R-CO-4] · R · Sponsor
• · ssfi00 · Standing

Related records

• related to → To amend the Internal Revenue Code of 1986 to provide changes in application of wagering taxes to charitable organizations.