I
105TH CONGRESS
1ST SESSION
H. R. 1016
To amend the Internal Revenue Code of 1986 to provide a mechanism
for taxpayers to designate $1 of any overpayment of income tax, and
to contribute other amounts, for use by the United States Olympic
Committee.
IN THE HOUSE OF REPRESENTATIVES
MARCH 11, 1997
Mr. HEFLEY 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 provide
a mechanism for taxpayers to designate $1 of any over-
payment of income tax, and to contribute other amounts,
for use by the United States Olympic Committee.
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as ‘‘United States Olympic
Checkoff Act’’.
SEC. 2. DESIGNATION FOR UNITED STATES OLYMPIC
TRUST FUND.
(a) GENERAL RULE.—Subchapter A of chapter 61 of
the Internal Revenue Code of 1986 is amended by adding
at the end thereof the following new part:
‘‘PART IX—DESIGNATION OF OVERPAY-
MENTS 
AND 
CONTRIBUTIONS 
FOR
UNITED 
STATES 
OLYMPIC 
TRUST
FUND
‘‘Sec. 6097. Amounts for United States Olympic Trust Fund.
‘‘SEC. 6097. AMOUNTS FOR UNITED STATES OLYMPIC TRUST
FUND.
‘‘(a) IN GENERAL.—With respect to each taxpayer’s
return for the taxable year of the tax imposed by chapter
1, such taxpayer may designate that—
‘‘(1) $1 of any overpayment of such tax for
such taxable year, and
‘‘(2) any cash contribution which the taxpayer
includes with such return,
be paid over to the United States Olympic Trust Fund.
‘‘(b) JOINT RETURNS.—In the case of a joint return
showing an overpayment of $2 or more, each spouse may
designate $1 of such overpayment under subsection (a)(1).
‘‘(c) MANNER AND TIME OF DESIGNATION.—A des-
ignation under subsection (a) may be made with respect
to any taxable year only at the time of filing the return
of the tax imposed by chapter 1 for such taxable year.
Such designation shall be made on the first page of the
return.
‘‘(d) OVERPAYMENTS TREATED
AS REFUNDED.—
For purposes of this title, any overpayment of tax des-
ignated under subsection (a) shall be treated as being re-
funded to the taxpayer as of the last date prescribed for
filing the return of tax imposed by chapter 1 (determined
without regard to extensions) or, if later, the date the re-
turn is filed.’’
(b) CLERICAL AMENDMENT.—The table of parts for
subchapter A of chapter 61 of such Code is amended by
adding at the end thereof the following new item:
‘‘Part IX. Designation of overpayments and contributions for
United States Olympic Trust Fund.’’
(c) EFFECTIVE DATE.—The amendments made by
this section shall apply to taxable years ending after the
date of enactment of this Act.
SEC. 3. ESTABLISHMENT OF UNITED STATES OLYMPIC
TRUST FUND.
(a) IN GENERAL.—Subchapter A of chapter 98 of the
Internal Revenue Code of 1986 (relating to trust fund
code) is amended by adding at the end thereof the follow-
ing new section:
‘‘SEC. 9512. UNITED STATES OLYMPIC TRUST FUND.
‘‘(a) CREATION OF TRUST FUND.—There is estab-
lished in the Treasury of the United States a trust fund
to be known as the ‘United States Olympic Trust Fund’,
consisting of such amounts as may be appropriated or
credited to the United States Olympic Trust Fund as pro-
vided in this section or section 9602(b).
‘‘(b) TRANSFER TO UNITED STATES OLYMPIC TRUST
FUND OF AMOUNTS DESIGNATED.—There is hereby ap-
propriated to the United States Olympic Trust Fund
amounts equivalent to the amounts designated under sec-
tion 6097 and received in the Treasury.
‘‘(c) EXPENDITURES FROM TRUST FUND.—
‘‘(1) IN GENERAL.—The Secretary shall pay,
not less often than quarterly, to the United States
Olympic Committee from the United States Olympic
Trust Fund an amount equal to the amount in such
Fund as of the time of such payment less any ad-
ministrative expenses of the Secretary which may be
paid under paragraph (2).
‘‘(2) ADMINISTRATIVE EXPENSES.—Amounts in
the United States Olympic Trust Fund shall be
available to pay the administrative expenses of the
Department of the Treasury directly allocable to—
‘‘(A) modifying the individual income tax
return forms to carry out section 6097,