Bill > HR314

This bill aims to reduce the financial burden on certain nonprofit organizations by requiring executive agencies to lower cost-sharing requirements for grants by 25% for a period of five years after the bill's enactment. Specifically, the bill applies to nonprofit organizations (those recognized under section 501(c)(3) of the Internal Revenue Code) that are located in states where more than 20% of the population lives below the federal poverty line. The bill defines "state" broadly to include all U.S. states, territories, the District of Columbia, and federally recognized tribes. The cost-sharing reduction is meant to help these nonprofit organizations more easily access and manage federal grants by decreasing the amount of money they must contribute from their own resources to fund projects. Executive agencies, as defined by U.S. Code Title 41, would be required to implement this 25% reduction in cost-sharing requirements, potentially providing significant financial relief to nonprofits operating in economically disadvantaged areas.

Government Affairs

https://www.congress.gov/bill/119th-congress/house-bill/314/all-info