[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[S. 751 Introduced in Senate (IS)]







104th CONGRESS
  1st Session
                                 S. 751

   To provide that certain games of chance conducted by a nonprofit 
     organization not be treated as an unrelated business of such 
                             organization.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                  May 3 (legislative day, May 1), 1995

   Mr. Exon introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
   To provide that certain games of chance conducted by a nonprofit 
     organization not be treated as an unrelated business of such 
                             organization.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. CONDUCTING OF CERTAIN GAMES OF CHANCE NOT TREATED AS 
              UNRELATED TRADE OR BUSINESS.

    Section 1834 of the Tax Reform Act of 1986 is repealed for games 
conducted after October 22, 1986, and subparagraph (A) of section 
311(a)(3) of the Tax Reform Act of 1984 shall be applied and 
administered as if such section 1834 (and the amendments made by such 
section 1834) had not been enacted.
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