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- H.R.1551
H.R.1551: To amend the Internal Revenue Code of 1986 to provide an exclusion from unrelated business taxable income for certain sponsorship payments.
About This Bill
- This bill was introduced in the 103rd Congress
- This bill is primarily about sports and recreation
- Introduced March 31, 1993
- Latest Major Action April 22, 1993
- See the one similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsors
42 (20 Democrats, 22 Republicans)
Bill Summary
Amends the Internal Revenue Code to declare that unrelated trade or business does not include the activity of soliciting and receiving qualified sponsorship payments (payments received by tax-exempt organizations from corporations and other sponsors in connection with certain athletic and other public events) for purposes of the tax on unrelated business income of charitable, etc., organizations. Excludes royalties received by certain...
(Source: Library of Congress)
Bill Actions
| Date | Description |
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Referred to the House Committee on Ways and Means.
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Sponsor introductory remarks on measure.
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| March 31, 1993 |
Introduced in the House by Bill K. Brewster (D-Okla.) |