[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5383 Introduced in House (IH)]

113th CONGRESS
  2d Session
                                H. R. 5383

  To amend the Internal Revenue Code of 1986 to exempt sports betting 
                   from the tax on authorized wagers.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 31, 2014

  Ms. Titus 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 exempt sports betting 
                   from the tax on authorized wagers.

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

SECTION 1. SPORTS BETTING EXEMPT FROM THE EXCISE TAX ON AUTHORIZED 
              WAGERS.

    (a) In General.--Section 4402 of the Internal Revenue Code of 1986 
is amended adding at the end the following new paragraph:
            ``(4) Sports betting authorized under state law.--On any 
        wager which is authorized under the law of the State in which 
        accepted and which is placed with respect to any sporting 
        event.''.
    (b) Effective Date.--The amendment made by this section shall apply 
to wagers placed after the date of the enactment of this Act.
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