[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1108 Introduced in House (IH)]

114th CONGRESS
  1st Session
                                H. R. 1108

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


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           February 26, 2015

  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. SHORT TITLE.

    This Act may be cited as the ``Sports Bets Collection Tax 
Correction Act''.

SEC. 2. SPORTS BETTING EXEMPT FROM THE EXCISE TAX ON AUTHORIZED WAGERS.

    (a) In General.--Section 4402 of the Internal Revenue Code of 1986 
is amended by striking ``or'' at the end of paragraph (2), by striking 
the period at the end of paragraph (3) and inserting ``, or'', and by 
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 amendments made by this section shall 
apply to wagers placed after the date of the enactment of this Act.
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