U.S. Congress legislation · 119th Congress
SB5669: End Tax Breaks for Dark Money Act
Status: In committee, September 30, 2026
A bill to amend the Internal Revenue Code of 1986 to treat transfers of appreciated property to certain tax-exempt organizations the same as transfers of appreciated property to political organizations.
What the bill says
To amend the Internal Revenue Code of 1986 to treat transfers of appreciated property to certain tax-exempt organizations the same as transfers of appreciated property to political organizations.
From the introduced text, September 30, 2026:
A BILL To amend the Internal Revenue Code of 1986 to treat transfers of appreciated property to certain tax-exempt organizations the same as transfers of appreciated property to political organizations. SECTION 1. Short title This Act may be cited as the End Tax Breaks for Dark Money Act . SECTION 2. Treatment of transfers of appreciated property to certain tax-exempt organizations (a) In general Subsections (a) and (b) of section 84 of the Internal Revenue Code of 1986 are each amended by striking political organization each place it appears and inserting specified organization . (b) Specified organization Section 84(c) of the Internal Revenue Code of 1986 is amended to read as follows: (c) Specified organization For purposes of this section, the term specified organization means-- (1) any political organization (as defined in section 527(e)(1)), and (2) any organization described in paragraph (4), (5), or (6) of section 501(c). . (c) Clerical amendments (1) The heading of section 84 of the Internal Revenue Code of 1986 is amended by striking political and inserting specified . (2) The item relating to section 84 in the table of sections for part II of subchapter B of chapter 1 of such Code is amended to read as follows: Sec. 84. Transfer of appreciated property to specified organizations. . (d) Effective date The amendments made …
Sponsors
- Whitehouse, Sheldon (D) · primary sponsor
- Cortez Masto, Catherine (D)
- Welch, Peter (D)
- Smith, Tina (D)
- Merkley, Jeff (D, SD-OR)
- Schatz, Brian (D)
- Warren, Elizabeth (D)
- Baldwin, Tammy (D)
Latest actions
- : Read twice and referred to the Committee on Finance.
- : Introduced in Senate
Subjects: Taxation
Common questions
- What is SB5669?
- SB5669 is a bill in Congress (119th Congress): End Tax Breaks for Dark Money Act.
- What does SB5669 do?
- In its own words: To amend the Internal Revenue Code of 1986 to treat transfers of appreciated property to certain tax-exempt organizations the same as transfers of appreciated property to political organizations.
- What is the status of SB5669?
- In committee as of September 30, 2026. Latest action: Read twice and referred to the Committee on Finance. (September 30, 2026).
- Who sponsored SB5669?
- Whitehouse, Sheldon (D), with 7 co-sponsors.
- Where is the official record for SB5669?
- On the Congress website: https://www.congress.gov/bill/119th-congress/senate-bill/5669
Source: official Congress record. Tracked by Delilah, AI for legislation across all 50 states and Congress.