This bill changes how tax-exempt organizations report and protect donor information. It requires larger nonprofits, those with gross receipts of $200,000 or more or assets of $500,000 or more, to publicly disclose the total amount of contributions they receive from foreign nationals each year, broken down by country of origin. The IRS would maintain a searchable public database containing this foreign funding information. At the same time, the bill strengthens privacy protections for domestic donors by generally prohibiting federal agencies from collecting or publicly releasing the identities of individual donors to tax-exempt organizations, with limited exceptions for the IRS, congressional lobbying disclosure offices, the Federal Election Commission, and court orders. Government officials who illegally disclose donor identities could face felony charges, fines up to $250,000, up to 5 years in prison, and job termination. These changes would take effect for tax returns filed for taxable years beginning after the law is enacted.
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