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Tax Exemption for Micro-Grants Supporting Food Security Programs.

This bill amends tax law to exclude specific micro-grants aimed at food security from federal gross income. This change ensures that organizations receiving these funds can dedicate the full amount to supporting vulnerable populations and combating hunger, maximizing the impact of the aid. Citizens relying on these programs benefit from increased funding efficiency.
Key points
Organizations receiving micro-grants for food security will no longer pay federal income tax on those funds.
The full value of the grants can now be used directly for food programs, increasing aid effectiveness for citizens.
The tax exclusion applies to amounts received in taxable years beginning after the date the Act is signed into law.
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Additional Information
A bill to amend the Internal Revenue Code of 1986 to exclude micro-grants for food security from gross income.
Print number: S 2352
Sponsor: Sen. Murkowski, Lisa [R-AK]
Process start date: 2023-07-18