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End Tax Breaks for Dark Money Organizations

This act aims to eliminate tax breaks for donations made to certain tax-exempt organizations that operate similarly to political organizations. This means that transfers of appreciated property to these organizations will be treated the same as political donations, potentially impacting how campaigns and lobbying efforts are funded.
Key points
Tax law change: donations to certain tax-exempt organizations will be treated like political donations.
Funding impact: political organizations and some non-profits may lose previous tax benefits for receiving donations.
New rules apply to transfers made after the act's enactment date, affecting future donations.
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Additional Information
Print number: 118_HR_7244
Sponsor: Rep. Chu, Judy [D-CA-28]
Process start date: 2024-02-06