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S 276 116th Congress Senate Taxation Administrative law and regulatory procedures Department of the Treasury Government information and archives Internal Revenue Service (IRS) Labor-management relations Tax administration and collection, taxpayers Tax-exempt organizations

Spotlight Act

Introduced: January 30, 2019 See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 30, 2019
Read twice and referred to the Committee on Finance.
Jan 30, 2019
Introduced in Senate
 Plain-English summary Congressional Research Service

Spotlight Act

This bill repeals an Internal Revenue Service (IRS) revenue procedure (Rev. Proc. 2018-38) that exempts certain tax-exempt organizations that are not 501(c)(3) organizations from the requirement to report the names and addresses of substantial contributors (persons who contribute more than $5,000 per year) on information returns that are filed with the IRS.

The bill requires tax-exempt organizations that fall under sections 501(c)(4), 501(c)(5), and 501(c)(6) of the Internal Revenue Code (e.g., social welfare organizations, labor organizations, business leagues) to disclose the names and addresses of all substantial contributors on their returns.

The bill also eliminates the authority of the IRS to provide exceptions to the disclosure requirements for tax-exempt organizations. This provision does not apply to determinations made by the IRS before July 16, 2018.

What's happening now January 30, 2019

Read twice and referred to the Committee on Finance.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1