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End Tax Breaks for Dark Money Act
3/14/2024, 4:05 AM
Congressional Summary of HR 7244
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.
Read the Full Bill
Current Status of Bill HR 7244
Bill HR 7244 is currently in the status of Bill Introduced since February 6, 2024. Bill HR 7244 was introduced during Congress 118 and was introduced to the House on February 6, 2024. Bill HR 7244's most recent activity was Referred to the House Committee on Ways and Means. as of February 6, 2024
Bipartisan Support of Bill HR 7244
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
19Democrat Cosponsors
19Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 7244
Primary Policy Focus
TaxationAlternate Title(s) of Bill HR 7244
End Tax Breaks for Dark Money Act
End 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.
Comments
Sponsors and Cosponsors of HR 7244
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