Safeguarding Charity Act

[AI summary unavailable — showing source text] [Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 1428 Introduced in Senate (IS)] <DOC> 119th CONGRESS 1st Session S. 1428 To amend title 1, United States Code, to clarify that certain tax exemptions are not treated as Federal financial assistance. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES April 10, 2025 Mr. Lankford (for himself, Mr. Lee, Mr. Hawley, and Mr. Budd) introduced the following bill; which was read twice and referred to the Committee on Finance _______________________________________________________________________ A BILL To amend title 1, United States Code, to clarify that certain tax exemptions 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 Charity Act''. SEC. 2. FEDERAL FINANCIAL ASSISTANCE NOT TO INCLUDE CERTAIN TAX BENEFITS. (a) In General.--Chapter 1 of title 1, United States Code, is amended by adding at the end the following new section: ``SEC. 9. FEDERAL FINANCIAL ASSISTANCE. …