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.

TL;DR (AI)

• This bill removes income limitations for athletes excluding medal and prize money won in the Olympic and Paralympic Games from their gross income.
• The bill excludes the value of Olympic and Paralympic medals and prize money from federal income taxes.
• This exclusion applies to prize and award money received after December 31, 2025.