HR 264 · 100th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954 to provide that net legal wagering gains shall not be included in gross income.

Introduced 1987-01-06· Sponsored by Rep. Vucanovich, Barbara F. [R-NV-2]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1987-01-06)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to exclude from gross income the net legal wagering gains of a taxpayer who is not engaged in the trade or business of placing wagers. Sets forth the method of calculating net legal wagering gains.…

Summarized by Claude AI · Non-partisan · For informational purposes only