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119th CONGRESS
1st Session |
To amend the Internal Revenue Code of 1986 with respect to wagering losses.
Ms. Titus (for herself and Mr. Khanna) introduced the following bill; which was referred to the Committee on Ways and Means
To amend the Internal Revenue Code of 1986 with respect to wagering losses.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
This Act may be cited as the “Fair Accounting for Income Realized from Betting Earnings Taxation Act or ‘FAIR Bet Act’”.
SEC. 2. Amendment to wagering loss provision.
Section 165(d) of the Internal Revenue Code of 1986, as amended, is amended—
(1) by striking “90 percent” and inserting “100 percent”.