S.3554

Amends the Internal Revenue Code to end tax-exempt status for terrorist supporting organizations.

The bill amends the Internal Revenue Code to terminate the tax-exempt status of organizations designated as terrorist supporting organizations. It defines a terrorist supporting organization as one providing material support or resources to a designated terrorist organization. The Secretary of the Treasury must notify the organization before designation and allow a 90-day period for the organization to cure any issues. The designation can be rescinded if the Secretary determines it was erroneous.