HR 5660
102th Congress
House
Taxation
Excise tax
Gambling
Income tax
Tax exclusion
Tax-exempt organizations
Unrelated business income tax
Withholding tax
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.
Everywhere this bill has been
11 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 5, 1992
Received in the Senate and read twice and referred to the Committee on Finance.
Aug 3, 1992
Motion to reconsider laid on the table Agreed to without objection.
Aug 3, 1992
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
Aug 3, 1992
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
Aug 3, 1992
DEBATE - The House proceeded with forty minutes of debate.
Aug 3, 1992
Considered under suspension of the rules.
Aug 3, 1992
Mr. Gibbons moved to suspend the rules and pass the bill, as amended.
Jul 23, 1992
Placed on the Union Calendar, Calendar No. 396.
Jul 23, 1992
Reported by the Committee on Ways and Means. H. Rept. 102-703.
Jul 22, 1992
Referred to the House Committee on Ways and Means.
Jul 22, 1992
Introduced in House
Plain-English 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 rate of withholding tax on certain gambling winnings from 20 percent to 28 percent.
What's happening now
Received in the Senate and read twice and referred to the Committee on Finance.
Committees of jurisdiction
2