Summary: H.R.5222 — 96th Congress (1979-1980)All Information (Except Text)

There is one summary for H.R.5222. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (09/10/1979)

United States Olympic Development Fund Checkoff Act of 1979 - Amends the Internal Revenue Code to permit taxpayers to designate on their income tax returns that either $1 of any tax refund or $1 of any contribution which the taxpayer forwards with his tax return shall be payable to the United States Olympic Development Fund.

Establishes the United States Olympic Development Fund under the auspices of the Secretary of the Treasury for the receipt of tax contributions and payments to the United States Olympic Development Fund. Directs the United States Olympic Committee to use such funds for a program to expand and improve amateur athletics in the United States.

Requires reports on the expenditure of such funds to be submitted by the United States Olympic Committee and the President's Council on Physical Fitness and Sports.