Summary: H.R.10155 — 94th Congress (1975-1976)All Information (Except Text)

Bill summaries are authored by CRS.

Shown Here:
Reported to House with amendment(s) (07/21/1976)

(Reported to House from the Committee on Ways and Means with amendment, H. Rept. 94-1355)

Amends the Internal Revenue Code to provide that income received by a political organization from qualified games which are regularly carried on is not taxable if (1) substantially all the work in carrying on the trade or business is performed for the political organization without compensation; (2) the activity is not ordinarily conducted on a commercial basis; and (3) the conduct of the activity does not violate any State or local law.

Defines the term qualified game for the purposes of this Act.