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![handle is hein.usccsset/usconset60315 and id is 1 raw text is: AUT-ENTICATED
US. GOVERNMENT
INFORMATION
GP
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
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