An Illinois lawmaker believes Olympic athletes who win medals in Sochi should not have to pay state tax on their award.
State Senator Julie Morrison, who is the sponsor of the legislation, proposes the current legislation. On Wednesday, a Senate Revenue Committee approved waiving on the tax for Olympians.
The purpose behind the bill is to demonstrate how Olympic athletes proudly represent Illinois and the United States. This tax exemption would be one way to show Illinois’s honor to their commitment.
There are approximately 20 athletes with ties to Illinois competing in the Olympics. Of the 20 athletes, 11 are for the United States and nine members are from the NHL’s Chicago Blackhawks At least 10 of these athletes reside in Illinois and would benefit from the tax exemption.
Olympians who win a gold medal also receive $25,000. Silver medalists win $15,000, while bronze medalists earn $10,000. The bill also includes Para-Olympians.
The Senate could hear the legislation as early as Thursday’s meeting.