US SB1428

Amends Title 1, United States Code to establish that federal income tax exemptions for nonprofit organizations under IRC sections 501(c), 501(d), and 401(a) do not constitute "federal financial assistance"

Applies to any federal law, rule, or regulation unless that law explicitly provides otherwise

Covers charitable organizations, social welfare groups, religious organizations, labor unions, pension plans, and other tax-exempt entities

Includes a rule of construction clarifying that the amendment should not be interpreted as implying tax exemptions were considered federal assistance before the Act's enactment

Introduced April 10, 2025 by Senators Lankford, Lee, Hawley, and Budd; referred to the Senate Finance Committee