A bill to amend the Internal Revenue Code of 1954 to provide that contributions to the Indoor Sports and Outdoor Athletic Recreation Foundation shall be deductible for purposes of the Federal income and estate and gift taxes, and to create a trust fund to receive contributions to such foundation which may be used to improve sports and recreational facilities.

[AI summary unavailable — showing source text] Provides that contributions to the Indoor Sport and Outdoor Athletic Recreation Foundation shall be deductible for purposes of Federal income and estate and gift taxes. Creates on the books of the Treasury of the United States a trust fund to be known as the Indoor Sports and Outdoor Athletic Recreation Trust Fund, consisting of donations deposited by individuals, and of an Equal amount for each fiscal year appropriated from money in the Treasury not otherwise appropriated. Creates the Indoor Sports and Outdoor Athletic Recreation Foundation, consisting of the Secretary of the Treasury, the Secretaries of the Interior, and of Health, Education, and Welfare, Defense, Labor, and Housing and Urban Development, the Commissioner of Education, and ten persons appointed for terms of five years by the President, by and with the advice and consent of the Senate. Authorizes compensation for members of the Foundation who are not full-time employees of the United States. Authorizes the Foundation to solicit and accept donations given to further the purposes of the Foundation. Authorizes the Foundation to accept and utilize the services of voluntary and uncompensated personnel, and to make rule…