September 30, 2026
Mr. Whitehouse (for himself, Ms. Cortez Masto, Mr. Welch, Ms. Smith, Mr. Merkley, Mr. Schatz, Ms. Warren, and Ms. Baldwin) introduced the following bill; which was read twice and referred to the Committee on Finance
To amend the Internal Revenue Code of 1986 to treat transfers of appreciated property to certain tax-exempt organizations the same as transfers of appreciated property to political organizations.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
Section 1. Short title
This Act may be cited as the End Tax Breaks for Dark Money Act
.
Sec. 2. Treatment of transfers of appreciated property to certain tax-exempt organizations
(a) In general
Subsections (a) and (b) of section 84 of the Internal Revenue Code of 1986 are each amended by striking political organization
each place it appears and inserting specified organization
.
(b) Specified organization
Section 84(c) of the Internal Revenue Code of 1986 is amended to read as follows:
(c) Specified organization
For purposes of this section, the term specified organization means—
(1)
any political organization (as defined in section 527(e)(1)), and
(2)
any organization described in paragraph (4), (5), or (6) of section 501(c).
(c) Clerical amendments
(1)
The heading of section 84 of the Internal Revenue Code of 1986 is amended by striking political
and inserting specified
.
(2)
The item relating to section 84 in the table of sections for part II of subchapter B of chapter 1 of such Code is amended to read as follows:
(d) Effective date
The amendments made by this section shall apply to transfer after the date of the enactment of this Act, in taxable years ending after such date.