[Congressional Record Volume 142, Number 134 (Wednesday, September 25, 1996)]
[Senate]
[Page S11314]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




 THE NATIONAL PHYSICAL FITNESS AND SPORTS FOUNDATION ESTABLISHMENT ACT

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                      PRESSLER AMENDMENT NO. 5403

  Mr. GRASSLEY (for Mr. Pressler) proposed an amendment to the bill (S. 
1311) to establish a National Fitness and Sports Foundation to carry 
out activities to support and supplement the mission of the President's 
Council on Physical Fitness and Sports, and for other purposes; as 
follows:

       On page 2, line 8, strike ``nonprofit'' and insert ``not 
     for profit''.
       On page 2, line 10, after the period insert the following: 
     ``The Foundation shall be established as an organization 
     described in section 501(c)(3) of the Internal Revenue Code 
     of 1986 and shall be presumed, for purposes of such Code, to 
     be such an organization until the Secretary of the Treasury 
     determines that the Foundation does not meet the requirements 
     applicable to such an organization. Section 508(a) of such 
     Code does not apply to the Foundation.''.
       On page 5, line 8, after the period, insert the following: 
     ``The three numbers appointed by the Secretary shall include 
     the representative of the United States Olympic Committee.''.
       On page 5, line 21, after the period insert the following: 
     ``The Chairman of the President's Council on Physical Fitness 
     shall serve as Chairperson until a Chairman is elected by the 
     Board.''.
       On page 12, line 4, strike ``contributors,'' and insert 
     ``contributions,''.

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