OLYMPICS Act

[AI summary unavailable — showing source text] [Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 7707 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H. R. 7707 To amend the Internal Revenue Code of 1986 to impose a tax on income earned from competing in global athletic events on behalf of foreign entities of concern. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES February 25, 2026 Mr. Ogles 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 impose a tax on income earned from competing in global athletic events on behalf of foreign entities of concern. 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 ``Officially Limiting Yearly Money Procured by Individuals Concerning Sportmanship Act'' or as the ``OLYMPICS Act''. SEC. 2. TAX ON INCOME EARNED FROM COMPETING IN GLOBAL ATHLETIC EVENTS ON BEHALF OF FOREIGN ENTITIES OF CONCERN. (a) In General.--Subtitl…