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<!DOCTYPE bill PUBLIC "-//US Congress//DTDs/bill.dtd//EN" "bill.dtd"> |
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<bill bill-stage="Introduced-in-Senate" dms-id="A1" public-private="public"><metadata xmlns:dc="http://purl.org/dc/elements/1.1/"> |
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<dublinCore> |
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<dc:title>114 S1002 IS: Collegiate Housing and Infrastructure Act of 2015</dc:title> |
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<dc:publisher>U.S. Senate</dc:publisher> |
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<dc:date>2015-04-16</dc:date> |
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<dc:format>text/xml</dc:format> |
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<dc:language>EN</dc:language> |
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<dc:rights>Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.</dc:rights> |
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<distribution-code display="yes">II</distribution-code><congress>114th CONGRESS</congress><session>1st Session</session><legis-num>S. 1002</legis-num><current-chamber>IN THE SENATE OF THE UNITED STATES</current-chamber><action><action-date date="20150416">April 16, 2015</action-date><action-desc><sponsor name-id="S308">Mr. Cardin</sponsor> (for himself, <cosponsor name-id="S254">Mr. Enzi</cosponsor>, and <cosponsor name-id="S277">Mr. Carper</cosponsor>) introduced the following bill; which was read twice and referred to the <committee-name committee-id="SSFI00">Committee on Finance</committee-name></action-desc></action><legis-type>A BILL</legis-type><official-title>To amend the Internal Revenue Code of 1986 to provide for collegiate housing and infrastructure |
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grants.</official-title></form> |
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<legis-body> |
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<section id="H0250E80707F44C7CA931DDAACD826FA" section-type="section-one"><enum>1.</enum><header>Short title</header><text display-inline="no-display-inline">This Act may be cited as the <quote><short-title>Collegiate Housing and Infrastructure Act of 2015</short-title></quote>.</text> |
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</section><section id="H1BD557A636D74483A809E88F0002BA86"><enum>2.</enum><header>Charitable |
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organizations permitted to make collegiate housing and infrastructure |
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grants</header> |
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<subsection id="H93ABA70472C44DA38B3D23B75FF2BB7F"><enum>(a)</enum><header>In |
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general</header><text><external-xref legal-doc="usc" parsable-cite="usc/26/501">Section 501</external-xref> of the Internal Revenue Code of 1986 (relating to exemption from tax on corporations, certain trusts, etc.) is amended by adding at the end the following new subsection:</text> |
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<quoted-block id="H11468BEE83694393AC1D2BEE00AFB660" style="OLC"> |
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<subsection id="H1106FF41E8D84ECA9D4F6B6BFCFE21B9"><enum>(s)</enum><header>Treatment of |
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organizations making collegiate housing and infrastructure |
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improvement |
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grants</header> |
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<paragraph id="HC39E5567985942BD9E594EAFB3B82E98"><enum>(1)</enum><header>In |
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general</header><text>For purposes of subsection (c)(3) and sections 170(c)(2)(B), 2055(a)(2), and 2522(a)(2), an organization shall not fail to be treated as organized and operated exclusively for charitable or educational purposes solely because such organization makes collegiate housing and infrastructure grants to an organization described in subsection (c)(7) which applies the grant to its collegiate housing property.</text> |
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</paragraph><paragraph id="H7A726FF6333C4886887D6342CCF9D8A3"><enum>(2)</enum><header>Housing and |
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infrastructure grants</header><text>For purposes of paragraph (1), collegiate housing and infrastructure grants are grants to provide, improve, operate, or maintain collegiate housing property that may involve more than incidental social, recreational, or private purposes, so long as such grants are for purposes that would be permissible for a dormitory or other residential facility of the college or university with which the collegiate housing property is associated. A grant shall not be treated as a collegiate housing and infrastructure grant for purposes of paragraph (1) to the extent that such grant is used to provide physical fitness facilities.</text> |
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</paragraph><paragraph id="HBBFB596B0EFF4A03B194252849005899"><enum>(3)</enum><header>Collegiate |
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housing property</header><text>For purposes of this subsection, collegiate housing property is property in which, at the time of a grant or following the acquisition, lease, construction, or modification of such property using such grant, substantially all of the residents are full-time students at the college or university in the community where such property is located.</text> |
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</paragraph><paragraph id="H01A37DF4189445C1ACAD4E83BCCDE43F"><enum>(4)</enum><header>Grants to |
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certain organizations holding title to property, etc</header><text>For purposes of this subsection, a collegiate housing and infrastructure grant to an organization described in subsection (c)(2) or (c)(7) holding title to property exclusively for the benefit of an organization described in subsection (c)(7) shall be considered a grant to the organization described in subsection (c)(7) for whose benefit such property is held.</text></paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block> |
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</subsection><subsection id="H74FDC4E16B1842C89FE9DEA587791EC"><enum>(b)</enum><header>Effective |
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date</header><text>The amendment made by this section shall apply to grants made in taxable years ending after the date of the enactment of this Act.</text></subsection></section></legis-body></bill> |
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