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1 (2024-06-28)

handle is hein.congrecreports/crptxaghy0001 and id is 1 raw text is: AUT-ENTICATED US. GOVERNMENT INFORMATION GP 118TH CONGRESS REPORT 2d Session HOUSE OF REPRESENTATIVES 118-569 FOREIGN GRANT REPORTING ACT JUNE 28, 2024.-Committed to the Committee of the Whole House on the State of the Union and ordered to be printed Mr. SMITH of Missouri, from the Committee on Ways and Means, submitted the following REPORT together with ADDITIONAL VIEWS [To accompany H.R. 8290] [Including cost estimate of the Congressional Budget Office] The Committee on Ways and Means, to whom was referred the bill (H.R. 8290) to amend the Internal Revenue Code of 1986 to re- quire the public disclosure of grants made by certain tax-exempt organizations to foreign entities, having considered the same, re- ports favorably thereon with an amendment and recommends that the bill as amended do pass. CONTENTS Page I. SUMMARY AND BACKGROUND ............................................................... 2 A. Purpose and Sum m ary ..................................................................... 2 B. Background and Need for Legislation .................... 3 C. Legislative H istory ........................................................................... . 4 B ackground ................................................................................ . 4 Com m ittee H earings ................................................................... 4 Com m ittee A ction ....................................................................... 4 D . Designated H earing .......................................................................... 4 II. EXPLANATION OF THE BILL ................................................................. 4 A. Disclosure of Grants Made by Certain Tax-Exempt Organiza- tions to Foreign Entities (sec. 2 of the bill and sec. 6033 of the C ode) ..................................................................................... 4 B. Reasons for Change .......................................................................... 8 C. Explanation of Provisions ................................................................. 8 D . E ffective D ate .................................................................................... 8 III. VOTES OF THE COMM ITTEE ................................................................... 9 IV. BUDGET EFFECTS OF THE BILL ........................................................... 10 49-006