Summary of Bill HR 314
Bill 119 HR 314, also known as the "Reducing Cost-Sharing for Nonprofit Organizations Act," is a piece of legislation introduced in the US Congress. The main objective of this bill is to mandate executive agencies to decrease cost-sharing requirements for specific grants awarded to certain nonprofit organizations by 25 percent. This reduction in cost-sharing is aimed at easing the financial burden on these nonprofit organizations and enabling them to better fulfill their missions and serve their communities.
The bill does not specify which specific nonprofit organizations would be eligible for this reduced cost-sharing, but it is likely that it would apply to organizations that provide essential services and support to vulnerable populations, such as food banks, shelters, and healthcare providers. By lowering the cost-sharing requirements for these organizations, the bill seeks to ensure that they have the necessary resources to continue their important work without being overly burdened by financial constraints.
In addition to reducing cost-sharing requirements, the bill also includes provisions for other purposes, although the specifics of these provisions are not detailed in the summary. Overall, Bill 119 HR 314 aims to support and strengthen nonprofit organizations by alleviating some of the financial pressures they face when applying for and receiving grants from executive agencies.
Congressional Summary of HR 314
Empowering Nonprofits Act
This bill reduces cost-sharing requirements for grants directly awarded to certain nonprofit organizations for the five years following the bill's enactment. Eligible nonprofit organizations are those located in a U.S. state (including the District of Columbia or a U.S. commonwealth, territory, or possession) or federally recognized Indian tribe that has more than 20% of individuals living below the poverty line.
Specifically, the bill requires an executive agency, during that time frame, to reduce any cost-sharing requirement by 25% for grants made directly to an eligible nonprofit.