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[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 10148 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H. R. 10148 To amend the Internal Revenue Code of 1986 to clarify that certain exemptions from Federal income tax are not treated as Federal financial assistance. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES August 24, 2026 Mr. Steube (for himself and Ms. DelBene) introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to clarify that certain exemptions from Federal income tax are not treated as Federal financial assistance. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Safeguarding America's Nonprofits Act''. SEC. 2. CERTAIN EXEMPTIONS FROM FEDERAL INCOME TAX NOT TREATED AS FEDERAL FINANCIAL ASSISTANCE. (a) In General.--Section 501 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection: ``(s) Certain Exemptions Not Treated as Federal Financial Assistance.--In the case of any organization described in subsection (c) or (d) or any organization described in section 401(a), for purposes of any Federal law, rule, or regulation, unless explicitly provided otherwise, the term `Federal financial assistance', or any other term referring to assistance provided by the Federal Government, shall not include any exemption from the taxes imposed by this subtitle.''. (b) Rule of Construction.--Nothing in this section or the amendments made by this section shall be construed to imply that an exemption from Federal income taxes under section 501(a) of the Internal Revenue Code of 1986 constituted assistance from the Federal Government for periods before the date of the enactment of this Act. <all>
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