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Inserts specified text after each place a referenced phrase appears and adds a new subsection (e) requiring public disclosure of Schedule B of Form 990 (or successor form) for organizations described in subsection (c) of section 501 that receive Federal funding, including unredacted contributor name, zip code, and total contribution, and requiring disclosure within 60 days of processing the Form.
Adds a new paragraph (4) to subsection (j) creating a revocation process for organizations described in subsection (e) that fail to file Schedule B of Form 990: the Secretary must notify organizations lacking a record of the return, provide a 60-day period to file, and revoke exempt status effective on the date set by the Secretary if not cured; requires the Secretary to publish and maintain a list of revoked organizations. Also amends references to subsection (j) by striking each place it appears and inserting the phrase 'paragraph (1) or (4)'.
Requires tax-exempt organizations that receive federal funds to make their Schedule B donor information public without redactions (including donor names, zip codes, and contribution amounts). Organizations that fail to file the Schedule B on time receive IRS notice and risk revocation of their tax-exempt status after a 60-day cure period; the IRS must publish a list of revoked organizations. Changes apply to returns filed for taxable years beginning after enactment.
Referred to the House Committee on Ways and Means.
Introduced April 10, 2025 by Paul Gosar · Last progress April 10, 2025