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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.
Introduced in HouseFeb 26, 2026

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.

4 sections · 1 min read

(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.

(a) In general

.

(b) Effective date

The amendment made by this section shall apply to prizes and awards received after December 31, 2025.

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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. — Full text — Govroll