| 1 | 1 | | I |
|---|
| 2 | 2 | | 119THCONGRESS |
|---|
| 3 | 3 | | 1 |
|---|
| 4 | 4 | | STSESSION H. R. 2233 |
|---|
| 5 | 5 | | To amend the Internal Revenue Code of 1986 to increase the information |
|---|
| 6 | 6 | | reporting threshold for slot winnings. |
|---|
| 7 | 7 | | IN THE HOUSE OF REPRESENTATIVES |
|---|
| 8 | 8 | | MARCH18, 2025 |
|---|
| 9 | 9 | | Ms. T |
|---|
| 10 | 10 | | ITUS(for herself, Mr. RESCHENTHALER, Mr. KELLYof Pennsylvania, |
|---|
| 11 | 11 | | Mr. V |
|---|
| 12 | 12 | | ANDREW, Mr. BERGMAN, Mr. JOHNSONof Georgia, Mr. EZELL, |
|---|
| 13 | 13 | | and Mr. C |
|---|
| 14 | 14 | | ORREA) introduced the following bill; which was referred to the |
|---|
| 15 | 15 | | Committee on Ways and Means |
|---|
| 16 | 16 | | A BILL |
|---|
| 17 | 17 | | To amend the Internal Revenue Code of 1986 to increase |
|---|
| 18 | 18 | | the information reporting threshold for slot winnings. |
|---|
| 19 | 19 | | Be it enacted by the Senate and House of Representa-1 |
|---|
| 20 | 20 | | tives of the United States of America in Congress assembled, 2 |
|---|
| 21 | 21 | | SECTION 1. SHORT TITLE. 3 |
|---|
| 22 | 22 | | This Act may be cited as the ‘‘Shifting Limits on 4 |
|---|
| 23 | 23 | | Thresholds Act of 2025’’ or the ‘‘SLOT Act of 2025’’. 5 |
|---|
| 24 | 24 | | SEC. 2. REPORTING THRESHOLD FOR SLOT MACHINES. 6 |
|---|
| 25 | 25 | | (a) I |
|---|
| 26 | 26 | | NGENERAL.—Section 6041 of the Internal Rev-7 |
|---|
| 27 | 27 | | enue Code of 1986 is amended by adding at the end the 8 |
|---|
| 28 | 28 | | following new subsection: 9 |
|---|
| 29 | 29 | | VerDate Sep 11 2014 00:05 Mar 29, 2025 Jkt 059200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H2233.IH H2233 |
|---|
| 30 | 30 | | ssavage on LAPJG3WLY3PROD with BILLS 2 |
|---|
| 31 | 31 | | •HR 2233 IH |
|---|
| 32 | 32 | | ‘‘(h) SLOTMACHINES.— 1 |
|---|
| 33 | 33 | | ‘‘(1) I |
|---|
| 34 | 34 | | N GENERAL.—No return shall be required 2 |
|---|
| 35 | 35 | | under subsection (a) in the case of a payment in the 3 |
|---|
| 36 | 36 | | course of a trade or business of winnings from one 4 |
|---|
| 37 | 37 | | slot machine play unless the winnings from one such 5 |
|---|
| 38 | 38 | | play are at least $5,000 (without reduction for the 6 |
|---|
| 39 | 39 | | amount wagered). 7 |
|---|
| 40 | 40 | | ‘‘(2) I |
|---|
| 41 | 41 | | NFLATION ADJUSTMENT .—In the case of 8 |
|---|
| 42 | 42 | | payments in any calendar year beginning after 2026, 9 |
|---|
| 43 | 43 | | the $5,000 amount in paragraph (1) shall be in-10 |
|---|
| 44 | 44 | | creased by an amount equal to— 11 |
|---|
| 45 | 45 | | ‘‘(A) such dollar amount, multiplied by 12 |
|---|
| 46 | 46 | | ‘‘(B) the cost-of-living adjustment deter-13 |
|---|
| 47 | 47 | | mined under section 1(f)(3) for the calendar 14 |
|---|
| 48 | 48 | | year in which the taxable year begins, deter-15 |
|---|
| 49 | 49 | | mined by substituting ‘2025’ for ‘2016’ in sub-16 |
|---|
| 50 | 50 | | paragraph (A)(ii) thereof. 17 |
|---|
| 51 | 51 | | If any increase determined under the preceding sen-18 |
|---|
| 52 | 52 | | tence is not a multiple of $100, such increase shall 19 |
|---|
| 53 | 53 | | be rounded to the nearest multiple of $100.’’. 20 |
|---|
| 54 | 54 | | (b) E |
|---|
| 55 | 55 | | FFECTIVEDATE.—The amendment made by 21 |
|---|
| 56 | 56 | | this section shall apply to payments after December 31, 22 |
|---|
| 57 | 57 | | 2025. 23 |
|---|
| 58 | 58 | | Æ |
|---|
| 59 | 59 | | VerDate Sep 11 2014 00:05 Mar 29, 2025 Jkt 059200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\H2233.IH H2233 |
|---|
| 60 | 60 | | ssavage on LAPJG3WLY3PROD with BILLS |
|---|