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INFORMATION
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                    114TH CONGRESS                                       REPORT
                       2d Session    HOUSE   OF REPRESENTATIVES          114-762







                       UNITED   STATES   APPRECIATION FOR OLYMPIANS AND
                                    PARALYMPIANS ACT OF 2016



                      SEPTEMBER 20, 2016.-Committed to the Committee of the Whole House on the
                                   State of the Union and ordered to be printed



                      Mr. BRADY  of Texas, from the Committee on Ways  and  Means,
                                        submitted  the following


                                            REPORT

                                          [To accompany H.R. 5946]

                             [Including cost estimate of the Congressional Budget Office]

                      The Committee   on Ways  and Means,  to whom   was referred the
                    bill (H.R. 5946) to amend the Internal Revenue Code of 1986 to ex-
                    clude from gross income any  prizes or awards won  in competition
                    in the Olympic Games  or the Paralympic Games,  having considered
                    the same, report favorably thereon  with an amendment and rec-
                    ommend  that the bill as amended do pass.

                                                CONTENTS
                                                                                  Page
                     I. SUMMARY AND  BACKGROUND       .................................................................  2
                          A. Purpose and Sum m ary  .........................................................................  2
                          B. Background and Need  for Legislation  ................................................  2
                          C. Legislative  H istory  ...............................................................................  2
                    II. EXPLANATION OF THE BILL ......................................................................  3
                          A. Exclusion from Gross Income for the Value of Medals Awarded
                             at Olympic or Paralympic Games for Certain Prizes or Awards
                             Paid by the U.S. Olympic Committee to Competitors (sec. 2 of
                             the bill and  sec. 74  of the  Code)  .......................................................  3
                    III. VOTES OF THE COMM ITTEE ......................................................................  5
                    IV. BUDGET EFFECTS OF THE BILL .............................................................  5
                          A. Committee Estimate of Budgetary Effects ........................................  5
                          B. Statement Regarding New Budget Authority and Tax Expendi-
                             tures Budget Authority  ......................................................................  5
                          C. Cost Estimate Prepared by the Congressional Budget Office ...........  6
                    V. OTHER  MATTERS  TO BE DISCUSSED  UNDER  THE RULES OF THE
                         H O U SE ........................................................................................................  7
                         A. Committee Oversight Findings and Recommendations ...................  7
                         B. Statement of General Performance Goals and Objectives ...............  7
                         C. Information Relating to Unfunded Mandates ....................................  7
                         D. Applicability  of House Rule XXI 5(b)  .................................................  7
                       59-006

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