Bill > HR2265

This bill aims to impose penalties on tax-exempt organizations that receive contributions from foreign nationals and subsequently make contributions to political committees. Specifically, the bill introduces a new penalty where any tax-exempt organization (under section 501(c)) that makes a contribution to a political committee will be required to pay a penalty equal to twice the amount of that contribution, if the organization received any contribution from a foreign national during the previous 8 years. The bill defines "specified tax-exempt organizations" as those with annual gross receipts of $200,000 or assets of $500,000 or more. Furthermore, if an organization makes more than two such "disqualified political committee contributions," it will lose its tax-exempt status. The penalties and provisions would take effect on January 1, 2026, and are designed to prevent foreign nationals from indirectly influencing U.S. political campaigns through tax-exempt organizations. Key terms like "foreign national" are defined by referencing existing federal election law, and the bill amends the Internal Revenue Code to implement these new rules and penalties.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/2265/all-info