An Act to amend the Internal Revenue Code of 1954 to provide that income from the conducting of certain bingo games by certain tax-exempt organizations will not be subject to tax, and for other purposes.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to extend the income tax exclusion for political organizations' fund raising events to proceeds from gambling activities where the wagers are placed, the winners determined, and the prices distributed in the presence of all the players.…