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S 3577 117th Congress Senate Taxation International organizations and cooperation Olympic games Tax-exempt organizations

IOC Act

Introduced: February 3, 2022 Introduced by: Scott, Rick Republican · Florida See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 8, 2022
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 117-541.
Feb 3, 2022
Read twice and referred to the Committee on Finance.
Feb 3, 2022
Introduced in Senate
 Plain-English summary Congressional Research Service

Irresponsible Olympic Collaboration Act or the IOC Act

This bill eliminates the tax exemption for any organization or entity whose primary purpose is the promotion of international, multi-sport, athletic competitions, and that has gross receipts in in excess of $100 million for any of the 3 preceding taxable years (e.g., the International Olympic Committee).

What's happening now March 8, 2022

Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 117-541.

 Committees of jurisdiction 2