To amend the Internal Revenue Code of 1986 to remove the income limitation on the exclusion from gross income of any medal or prize money won in competition in the Olympic Games or Paralympic Games.

Summary

The bill changes Section 74(d) of the Internal Revenue Code to eliminate the dollar limit on the exclusion of medal values and prize money from taxable income. It applies to any athlete who receives a medal or prize from the U.S. Olympic Committee for competing in the Olympic or Paralympic Games after Dec. 31, 2025. This makes the full value of those awards non‑taxable.

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