As ordered reported by the House Committee on Ways and Means on May 15, 2024
By Fiscal Year, Millions of Dollars
2024
2024-2029
2024-2034
Direct Spending (Outlays)
0
0
0
Revenues
0
*
*
Increase or Decrease (-) in the Deficit
0
*
*
Spending Subject to Appropriation (Outlays)
*
*
not estimated
Increases net direct spending in any of the four consecutive 10-year periods beginning in 2035?
No
Statutory pay-as-you-go procedures apply?
Yes
Mandate Effects
Increases on-budget deficits in any of the four consecutive 10-year periods beginning in 2035?
No
Contains intergovernmental mandate?
No
Contains private-sector mandate?
No
* = between -$500,000 and $500,000.
Summary
H.R. 8290 would require tax-exempt organizations to include certain information regarding grants they provide to foreign entities in their annual tax filings. Under current law, tax-exempt organizations must report foreign grant information to the Internal Revenue Service (IRS) but such information may be provided in aggregate and not on a per-recipient basis. H.R. 8290 would require the name and address of the foreign entity, the aggregate amount of grants or other assistance provided to the foreign entity during the year, and whether the foreign entity is a charity.
