Wednesday, January 19, 2022

Legislation Proposed to Revoke International Olympic Committee's Tax Exempt Status

Reps. Michael Waltz (R-Fla.) and Jennifer Wexton (D-Va.) introduced a measure today intended to revoke the International Olympic Committee's exempt status in the United States.

From Politico: "Waltz and Wexton’s legislation, dubbed the Irresponsible Olympic Collaboration Act, specifically targets the IOC’s status as a 501c(4) tax-exempt organization by revoking that privilege for any international “multi-sport” organization that has revenues of more than $100 million." Wexton argues that social welfare organizations ought not host sporting events in China with ongoing genocide.

Have not found the text of the proposed legislation yet. However, you can see a resolution introduced on the issue back in December here. Be interested to see it, as the Politico story seems to suggest the bill was written neutrally yet would appear to apply to only one organization.

Update: Here is the link to the proposed bill. H/t to Sam Brunson

Philip Hackney

https://lawprofessors.typepad.com/nonprofit/2022/01/legislation-proposed-to-revoke-international-olympic-committees-tax-exempt-status.html

Federal – Legislative, In the News | Permalink

Comments

Hey Phil, the text of the bill is now available here: https://waltz.house.gov/uploadedfiles/ioc_act.pdf. I don't know if the bill is really written neutrally--it explicitly name-checks the IOC and "similar organizations," then sets criteria (international multi-sport athletic competitions and receipts in excess of $100 million) that likely only apply to the IOC.

Posted by: Sam Brunson | Jan 19, 2022 10:20:29 PM

Further info: The bill has been designated as H.R. 6433 and has been referred to the House Ways and Means Committee. There are now three additional cosponsors, all Republicans. See: https://www.congress.gov/bill/117th-congress/house-bill/6433?q=%7B%22search%22%3A%5B%22hr6433%22%2C%22hr6433%22%5D%7D&s=4&r=1

Posted by: Michael L. Wyland | Jan 20, 2022 10:06:28 AM

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