118th Congress · HOUSE BILLBILL

H.R. 7244End Tax Breaks for Dark Money Act

To amend the Internal Revenue Code of 1986 to treat transfers of appreciated property to certain tax-exempt organizations the same as transfers of appreciated property to political organizations.

Taxation
Introduced Feb 6, 2024
Last action Feb 6, 2024
Pipeline · Bill → Law
Step 1
Introduced
Feb 6, 2024
Step 2
Referred
Feb 6, 2024
Ways & Means
Step 3
Committee
Step 4
House floor
Step 5
Senate
Step 6
Resolve Changes
Step 7
Signed
SummaryCRS Summary

This bill extends the capital gains tax on transfers of appreciated property to certain tax-exempt social organizations (e.g., civics leagues, agricultural organizations, or business leagues). Currently, the tax is imposed only on transfers to political organizations.

Provisions · 2 sectionsIntroduced in House
Timeline · 2 actions
Feb 6, 2024
Introduced in House
Feb 6, 2024
Referred to the House Committee on Ways and Means.