Collegiate Housing and Infrastructure Act of 2023

Subjects: Taxation

Summary:  <p><strong>Collegiate Housing and Infrastructure Act of 2023</strong></p> <p>This bill allows tax-exempt charitable or educational organizations to make collegiate housing and infrastructure grants to certain tax-exempt social clubs (e.g., college fraternities and sororities) that apply such grants to their collegiate housing property.</p> <p>A <i>collegiate housing and infrastructure grant </i>is a grant to provide, improve, operate, or maintain collegiate housing property that may involve more than incidental social, recreational, or private purposes. The grant must be 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. The grant may not be used to provide physical fitness facilities.</p>

<html><body><pre>[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 1420 Introduced in Senate (IS)]

&lt;DOC&gt;






118th CONGRESS
  1st Session
                                S. 1420

 To amend the Internal Revenue Code of 1986 to provide for collegiate 
                   housing and infrastructure grants.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                              May 3, 2023

Mr. Cardin (for himself, Mrs. Capito, Mr. Carper, Mr. Boozman, and Mr. 
    Wicker) introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to provide for collegiate 
                   housing and infrastructure grants.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Collegiate Housing and 
Infrastructure Act of 2023''.

SEC. 2. CHARITABLE ORGANIZATIONS PERMITTED TO MAKE COLLEGIATE HOUSING 
              AND INFRASTRUCTURE GRANTS.

    (a) In General.--Section 501 of the Internal Revenue Code of 1986 
is amended by adding at the end the following new subsection:
    ``(s) Treatment of Organizations Making Collegiate Housing and 
Infrastructure Improvement Grants.--
            ``(1) In general.--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.
            ``(2) Housing and infrastructure grants.--For purposes of 
        paragraph (1), collegiate housing and infrastructure grants are 
        grants for capital improvements 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.
            ``(3) Collegiate housing property.--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.
            ``(4) Grants to certain organizations holding title to 
        property, etc.--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.''.
    (b) Effective Date.--The amendment made by this section shall apply 
to grants made in taxable years ending after the date of the enactment 
of this Act.
                                 &lt;all&gt;
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