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To amend the Internal Revenue Code of 1986 to impose a tax on income earned from competing in global athletic events on behalf of foreign entities of concern.
Summary
The bill imposes a 100 percent tax on income earned by U.S. citizens and permanent residents who compete in global athletic events on behalf of foreign entities of concern. The tax applies to both prize money and sponsorships received from or as a result of competing in events such as the Olympics, World Cup, Tour de France, and Wimbledon on behalf of these foreign entities. Foreign entities of concern are defined as covered nations as specified in existing federal law. The taxable income is excluded from regular gross income for federal income tax purposes and is subject only to this 100 percent excise tax.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Rep. Ogles, Andrew [R-TN-5] (R-TN)
Actions (2)
- Feb 25, 2026 Referred to the House Committee on Ways and Means. · house
- Feb 25, 2026 Introduced in House
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Full text
IN THE HOUSE OF REPRESENTATIVES
February 25, 2026
Mr. Ogles introduced the following bill; which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to impose a tax on income earned from competing in global athletic events on behalf of foreign entities of concern.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Officially Limiting Yearly Money Procured by Individuals Concerning Sportmanship Act” or as the “OLYMPICS Act”.
SEC. 2. TAX ON INCOME EARNED FROM COMPETING IN GLOBAL ATHLETIC EVENTS ON BEHALF OF FOREIGN ENTITIES OF CONCERN.
(a) In General.—Subtitle D of the Internal Revenue Code of 1986 is amended by adding at the end the following new chapter:
“CHAPTER 50B—CERTAIN INCOME FOR REPRESENTING FOREIGN ENTITIES OF CONCERN AT GLOBAL ATHLETIC EVENTS
“Sec. 5000E. Imposition of tax on income earned from competing in global athletic events on behalf of foreign entities of concern.
“SEC. 5000E. IMPOSITION OF TAX ON INCOME EARNED FROM COMPETING IN GLOBAL ATHLETIC EVENTS ON BEHALF OF FOREIGN ENTITIES OF CONCERN.
“(a) In General.—There is hereby imposed on each covered individual for any taxable year a tax equal to 100 percent of the amounts received by such individual during such taxable year from—
“(1) competing in any global athletic event on behalf of any foreign entity of concern, and
“(2) any sponsorships received as a result of, or inducement for, so competing.
“(b) Covered Individual.—For purposes of this section—
“(1) In general.—The term ‘covered individual’ means any national of the United States or alien lawfully admitted for permanent residence.
“(2) Certain terms.—For purposes of paragraph (1), the terms ‘national of the United States’ and ‘lawfully admitted for permanent residence’ have the respective meanings given such terms under section 101 of the Immigration and Nationality Act (8 U.S.C. 1101).
“(c) Global Athletic Event.—For purposes of this section, the term ‘global athletic event’ means the Summer Olympics, Winter Olympics, World Cup, Tour de France, Wimbledon, and any other competition in which individuals participate as representatives of countries.
“(d) Foreign Entity of Concern.—For purposes of this section, the term ‘foreign entity of concern’ means any covered nation (as defined in section 4872(f)(2) of title 10, United States Code).
“(e) Special Rules.—
“(1) Administrative provisions.—For purposes of subtitle F, any tax imposed by this section shall be treated as a tax imposed by subtitle A.
“(2) Exclusion from gross income.—For purposes of chapter 1, the gross income of any covered person for any taxable year shall not include any amount with respect to which tax is imposed under subsection (a).”.
(b) Clerical Amendment.—The table of chapters for subtitle D of such Code is amended by inserting after the item relating to chapter 50A the following new item:
“Chapter 50B—Certain Income for Representing Foreign Entities of Concern at Global Athletic Events”.
(c) Effective Date.—The amendments made by this section shall apply with respect to amounts received after the date of the enactment of this Act. <all>
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