To amend the Internal Revenue Code of 1986 to exempt qualified religious institutions from the excise tax on investment income.

Q: What does Preamble of To amend the Internal Revenue Code of 1986 to exempt qualified religious institutions from the excise tax on investment income. do?

This bill proposes to amend the Internal Revenue Code of 1986. The proposed amendment would exempt qualified religious institutions from the excise tax on investment income.

Q: What does EXEMPTION OF QUALIFIED RELIGIOUS INSTITUTIONS FROM EXCISE of To amend the Internal Revenue Code of 1986 to exempt qualified religious institutions from the excise tax on investment income. do?

This section amends Section 4968 of the Internal Revenue Code of 1986 to exempt certain qualified religious institutions from an excise tax on investment income. A 'qualified religious institution' is defined as one established after July 4, 1776, and associated with an organization described in section 170(b)(1)(A)(i). To qualify, the institution must meet specific criteria related to its governing body, have a formal written agreement with the associated organization, or be formally designated as a religious institution by the organization's governing body. The institution must also maintain a published mission that includes religious tenets, beliefs, or teachings approved by its governing body. The amendments apply to taxable years beginning after December 31, 2025. The Secretary of the Treasury must prescribe regulations or guidance to carry out the amendments by December 31, 2026.

Last updated: 6/18/2026 · Introduced: 6/18/2026

Author: Mike Kelly (R-PA)

TL;DR (AI)

This bill exempts qualified religious institutions from the excise tax on investment income, as defined within the Internal Revenue Code.
To qualify for this exemption, institutions must be established after 1776, associated with a recognized charitable organization, and maintain a published mission including religious tenets.
The exemption applies to taxable years beginning after December 31, 2025, and the Treasury Secretary must issue related regulations by December 31, 2026.

119th Congressin committeeOfficial page

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Includes provisions on preamble, exemption of qualified religious institutions from excise.

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