To amend the Internal Revenue Code of 1986 to exempt qualified religious institutions from the excise tax on investment income.
- Bill Number
- H.R. 9353
- Origin Chamber
- House
- Congress
- 119th Congress, Session 2
- Policy Area
- Taxation
- Status
- Introduced
- Latest Action
- 2026-06-18: Referred to the House Committee on Ways and Means.
- Last Updated
- 2026-07-07T17:11:36Z
AI-Generated Summary
Summary of H.R. 9353
Purpose This bill amends the Internal Revenue Code to exempt certain qualified religious institutions from the excise tax on investment income.
Key Provisions
- Adds a new exemption under Section 4968(c) for institutions that qualify as "qualified religious institutions."
- Defines a qualified religious institution as one that:
- Was established after July 4, 1776.
- Was established by or in association with a church or religious organization under Section 170(b)(1)(A)(i).
- Meets at least one of the following: at least 25% of its highest governing body is appointed or approved by the religious organization, or consists of clerical members; has a formal written agreement acknowledging the relationship and shared mission; or is formally designated as religious by the organization's governing body.
- Maintains a published mission statement approved by its governing body that includes or is based on religious tenets.
- Applies the exemption to taxable years beginning after December 31, 2025.
- Requires the Secretary of the Treasury to issue regulations or guidance by December 31, 2026.
Significant Changes to Existing Law The bill creates a new exclusion from the existing excise tax rules in Section 4968, carving out an exemption specifically for institutions meeting the religious criteria outlined above.
Potential Impacts
- Government agencies: The Treasury Department and IRS must develop and administer new regulatory guidance to implement the exemption.
- Institutions and citizens: Qualifying religious institutions would no longer pay the excise tax on investment income, potentially retaining more funds for operations.
- No provisions address international relations.
Main Stakeholders Affected
- Religiously affiliated educational institutions that meet the bill's criteria.
- Churches and religious organizations under Section 170(b)(1)(A)(i).
- The Department of the Treasury and Internal Revenue Service.
Notable Legal, Constitutional, or Political Implications The legislation introduces a tax exemption based on specific religious governance, affiliation, and mission requirements, which directly ties eligibility to religious identity and relationships.
This summary was generated by AI and may contain inaccuracies. Refer to the official source document for the authoritative text.
Sponsor
Cosponsors (1)
Rep. Boyle, Brendan F. [D-PA-2]
Recent Actions
- 2026-06-18: Referred to the House Committee on Ways and Means.
- 2026-06-18: Introduced in House
- 2026-06-18: Introduced in House
Bill Versions
- To amend the Internal Revenue Code of 1986 to exempt qualified religious institutions from the excise tax on investment income. — issued 2026-06-18 — PDF (4 pages)