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1 (2024-12-17)

handle is hein.congrecreports/crptxagzz0001 and id is 1 raw text is: AUT-ENTICATED US. GOVERNMENT INFORMATION GPO 118TH CONGRESS REPT. 118-896 2d Session HOUSE OF REPRESENTATIVES Part 1 AMERICAN DONOR PRIVACY AND FOREIGN FUNDING TRANSPARENCY ACT DECEMBER 17, 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 DISSENTING VIEWS [To accompany H.R. 8293] [Including cost estimate of the Congressional Budget Office] The Committee on Ways and Means, to whom was referred the bill (H.R. 8293) to amend the Internal Revenue Code of 1986 to provide for the public reporting of data on certain contributions re- ceived by tax-exempt organizations from foreign sources, and for other purposes, having considered the same, reports favorably thereon with an amendment and recommends that the bill as amended do pass. CONTENTS Page I. SUMMARY AND BACKGROUND ............................................................... 3 A. Purpose and Sum m ary ..................................................................... 3 B. Background and Need for Legislation .................... 4 C. Legislative H istory ........................................................................... . 5 B ackground ..................................................................................... 5 Com m ittee H earings ....................................................................... 5 Com m ittee A ction ........................................................................... 5 D . Designated H earing .......................................................................... 5 II. EXPLANATION OF THE BILL .................................................................. 6 A. Annual Disclosure of Data on Contributions Received by Tax- Exempt Organizations from Foreign Sources; Protecting Pri- vacy of Donors to Tax-Exempt Organizations (secs. 2 and 3 of the bill and secs. 6033 and 6104 of the Code) ............. 6 B. Reasons for Change .......................................................................... 8 59-006