End Tax Breaks for Dark Money Act

3/14/2024, 4:05 AM

End Tax Breaks for Dark Money Act

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.

Congress
118

Number
HR - 7244

Introduced on
2024-02-06

# Amendments
0

Sponsors
+5

Cosponsors
+5

Variations and Revisions

2/6/2024

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

End Tax Breaks for Dark Money Act

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.

Alternative Names
Official Title as IntroducedTo 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.

Policy Areas
Taxation

Comments

Recent Activity

Latest Summary2/23/2024

End Tax Breaks for Dark Money Act

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 lea...


Latest Action2/6/2024
Referred to the House Committee on Ways and Means.