Bill > HR2355

This bill amends the Internal Revenue Code to allow charitable organizations to make collegiate housing and infrastructure grants without losing their tax-exempt status. Specifically, the bill creates a new provision that permits organizations to provide grants for collegiate housing property without being disqualified from charitable or educational status, even if the grants involve more than incidental social or recreational purposes. The grants can be used to provide, improve, operate, or maintain housing property where substantially all residents are full-time students at a specific college or university. Important limitations include that grants cannot be used for physical fitness facilities, and grants to organizations holding property on behalf of a college can be considered direct grants to the college. The bill defines "collegiate housing property" as residential property primarily occupied by full-time students and allows such grants to be made to organizations described under specific tax code subsections. The amendment will apply to grants made in taxable years following the Act's enactment, potentially providing new financial opportunities for improving student housing and infrastructure.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/2355/all-info