,,ii  #aag? ,,congress  #b;d ,session   
,s4 #cegg  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,febru>y #c1 #bjbb,mr4 
,scott ( ,florida introduc$ ! foll[+    
bill2 :i* 0 read twice & ref]r$ to !    
,committee on ,f9ance  ,a ,,bill  ,to   
am5d ! ,int]nal ,rev5ue ,code ( #aihf to
 elim9ate ! tax exemption ( !           
,int]national ,olympic ,committee &     
simil> organizations4  #a4 ,%ort title  
,?is ,act may be cit$ z ! ,irresponsible
 ,olympic ,collaboration ,act or z !    
,,ioc ,act4  #b4 ,elim9ation ( tax      
exemption = ! ,int]national ,olympic    
,committee & simil> organizations  7a7  
,9 g5]al ,section #eja ( ! ,int]nal     
,rev5ue ,code ( #aihf is am5d$ by add+  
at ! end ! foll[+ new subsection3  7s7  
,elim9ation ( tax exemption =           
,int]national ,olympic ,committee &     
simil> organizations ,if any            
organization or entity = any taxable    
ye>-- 7#a7 has ! prim>y purpose (       
int]national1 multi-sport1 a?letic      
competitions1 &  7#b7 has gross receipts

 9 excess ( #ajj1jjj1jjj = any ( ! #c   
prec$+ taxable ye>s1  su* organization  
%all n be treat$ z describ$ 9 subsection
 7c77#d7 = su* taxable ye>2 & no        
successor ( any organization or entity  
:i* 0 describ$ 9 su* subsection & ceases
 to be s describ$ by reason ( ! enactm5t
 ( ?is subsection %all be treat$ z      
describ$ 9 any p>agraph ( subsection 7c7
 = any subsequ5t taxable ye>4  4  7b7   
,special rule = treaties ,no?+ 9 section
 #hid or #gheb7;d7 ( ! ,int]nal ,rev5ue 
,code ( #aihf or 9 any o!r provision (  
law %all be con/ru$ z p]mitt+ an        
exemption1 by reason ( any treaty       
obligation ( ! ,unit$ ,/ates h]et(ore or
 h]eaft] ent]$ into1 f ! am5dm5t made by
 ?is section4  7c7 ,effective date ,!   
am5dm5t made by ?is section %all apply  
to taxable ye>s beg9n+ aft] ! date ( !  
enactm5t ( ?is ,act4