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To amend the Internal Revenue Code of 1986 to remove the income limitation on the exclusion from gross income of any medal or prize money won in competition in the Olympic Games or Paralympic Games.
To amend the Internal Revenue Code of 1986 to remove the income limitation on the exclusion from gross income of any medal or prize money won in competition in the Olympic Games or Paralympic Games.
Summary
This bill amends the Internal Revenue Code to remove the income limitation on the exclusion of Olympic and Paralympic medals and prize money from federal income taxation. Under the bill, all prize money received from the United States Olympic Committee for competing in the Olympic or Paralympic Games would be excluded from gross income, regardless of the competitor's other income. The change applies to medals and prizes received after December 31, 2025.
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)
5 cosponsors
- Rep. Hurd, Jeff [R-CO-3] (R-CO)
- Rep. Kelly, Mike [R-PA-16] (R-PA)
- Rep. Stauber, Pete [R-MN-8] (R-MN)
- Rep. Tenney, Claudia [R-NY-24] (R-NY)
- Rep. Wied, Tony [R-WI-8] (R-WI)
Actions (2)
- Feb 26, 2026 Referred to the House Committee on Ways and Means. · house
- Feb 26, 2026 Introduced in House
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Full text
IN THE HOUSE OF REPRESENTATIVES
February 26, 2026
Mrs. Fischbach (for herself, Mr. Stauber, Ms. Tenney, Mr. Wied, Mr. Kelly of Pennsylvania, and Mr. Hurd of Colorado) 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 remove the income limitation on the exclusion from gross income of any medal or prize money won in competition in the Olympic Games or Paralympic Games.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. REMOVAL OF INCOME LIMITATION ON EXCLUSION FROM GROSS INCOME OF OLYMPIC AND PARALYMPIC MEDALS AND PRIZE MONEY.
(a) In General.—Section 74(d) of the Internal Revenue Code of 1986 is amended to read as follows:
“(d) Exception for Olympic and Paralympic Medals and Prizes.— Gross income shall not include the value of any medal awarded in, or any prize money received from the United States Olympic Committee on account of, competition in the Olympic Games or Paralympic Games.”.
(b) Effective Date.—The amendment made by this section shall apply to prizes and awards received after December 31, 2025. <all>
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