No CRS summary available for this bill.
This section permits organizations exempt from tax under IRC §501(c)(3) (charitable organizations) to make collegiate housing and infrastructure grants to organizations described in IRC §501(c)(7) (social clubs, e.g., fraternities and sororities)—or title-holding companies under §501(c)(2) exclusively for their benefit—without failing to qualify as organized and operated exclusively for charitable or educational purposes. Such grants may support providing, improving, operating, or maintaining collegiate housing property (i.e., where substantially all residents are full-time students at the associated local college or university) for purposes permissible for a university dormitory, including more than incidental social, recreational, or private uses, but excluding physical fitness facilities. The provision applies to grants made in taxable years ending after the date of enactment.