Bill summaries are authored by CRS.

Shown Here:
Public Law No: 114-239 (10/07/2016)

(This measure has not been amended since it was reported to the House on September 20, 2016. The summary of that version is repeated here.)

United States Appreciation for Olympians and Paralympians Act of 2016

(Sec. 2) This bill amends the Internal Revenue Code to exclude from gross income, for income tax purposes, the value of any medal awarded or prize money received from the U.S. Olympic Committee on account of competition in the Olympic Games or Paralympic Games. The exclusion does not apply to a taxpayer for any year in which the taxpayer's adjusted gross income exceeds $1 million, or half of that amount in the case of a married individual filing a separate return.