Spotlight Act

Hozzl · 2023-01-11T13:46:40Z

Explore the details of Senate Bill 215 Spotlight Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

1/11/2023, 1:46 PM

Congressional Summary of S 215

Spotlight Act

This bill renders null and void final Internal Revenue Service (IRS) regulations published on May 28, 2020, relating to the reporting requirements of tax-exempt organizations.

The bill requires tax-exempt organizations that fall under sections 501(c)(4), 501(c)(5), and 501(c)(6) of the Internal Revenue Code (e.g., social welfare organizations, labor organizations, business leagues) to disclose the names and addresses of all substantial contributors (persons who contribute more than $5,000 per year to such organizations) on their information returns.

The bill also eliminates the authority of the IRS to provide exceptions to the disclosure requirements for tax-exempt organizations. This provision does not apply to determinations made by the IRS before July 16, 2018.

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Current Status of Bill S 215

Bill S 215 is currently in the status of Bill Introduced since February 3, 2021. Bill S 215 was introduced during Congress 117 and was introduced to the Senate on February 3, 2021. Bill S 215's most recent activity was Read twice and referred to the Committee on Finance. as of February 3, 2021

Bipartisan Support of Bill S 215

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 215

Primary Policy Focus

Taxation

Potential Impact Areas

Administrative law and regulatory proceduresDepartment of the TreasuryGovernment information and archivesInternal Revenue Service (IRS)Labor-management relationsTax administration and collection, taxpayersTax-exempt organizations

Alternate Title(s) of Bill S 215

Spotlight ActA bill to amend the Internal Revenue Code of 1986 to require certain tax-exempt organizations to include on annual returns the names and addresses of substantial contributors, and for other purposes.Spotlight Act

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