This bill exempts certain sales of Olympic products for the 2034 Olympic and Paralympic Winter Games by the host committee's affiliate from sales and use tax. This exemption may forgo total local sales tax revenues by $30 million in aggregate; however, the actual impact will depend on the volume and timing of the exempted transactions.

This bill exempts certain sales of Olympic products for the 2034 Olympic and Paralympic Winter Games from sales and use tax when sold by the host committee or its affiliate. Based on publicly available estimates, this exemption may decrease total sales tax liability for consumers by $88 million; however, the actual impact will depend on the volume and timing of the exempted transactions. This bill also authorizes the host committee to charge a government Olympic services recovery fee on these products. This fee may not exceed the combined state and local sales tax rate at the host committee's headquarters. Assuming that the Olympic Committee enacts the fee authorized in the legislation, the net impact to the consumers would be revenue neutral and instead there will be a shift of $88 million from state and local entities to the Olympic Committee or its affiliate.