Clarifies that certain exemptions from Federal income tax are not considered Federal financial assistance.
The Safeguarding America’s Nonprofits Act amends the Internal Revenue Code to clarify that exemptions from Federal income tax are not treated as Federal financial assistance. This applies to organizations described in subsections (c) or (d) or any organization described in section 401(a). The change ensures that these tax exemptions are not considered as assistance provided by the Federal Government.
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