Safeguarding America’s Nonprofits Act
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Overview
This bill clarifies that certain exemptions organizations receive from federal income taxes are not considered ‘Federal financial assistance’ under existing law. Specifically, it addresses how organizations described in sections 401(a) and 501 of the Internal Revenue Code are treated when receiving these exemptions. The bill aims to reduce confusion and ensure nonprofits are not inappropriately categorized as recipients of government funding due to tax exemptions.
Key provisions
- Clarifies that exemptions from federal income tax are not considered ‘Federal financial assistance’.
- Applies to organizations described in sections 401(a) and 501 of the Internal Revenue Code.
- Defines ‘Federal financial assistance’ in the context of federal laws and regulations.
- Provides a rule of construction to prevent retroactive interpretation of exemptions.
Who is affected
- Nonprofit organizations
- Taxpayers
- The Internal Revenue Service (IRS)
- Federal Government agencies
Notable changes
- Redefines ‘Federal financial assistance’ to exclude tax exemptions.
- Provides a specific rule of construction regarding the interpretation of tax exemptions.
Bill text
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Sponsors
Official sponsors from legislative records.
2 on record
Primary sponsor
Cosponsor
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