US SB3554

Amends Internal Revenue Code Section 501(p) to authorize the Treasury Secretary to designate organizations as "terrorist supporting organizations" and suspend their tax-exempt status if they provided more than de minimis material support or resources to designated terrorist organizations within the preceding 3 years

Defines "material support or resources" using 18 U.S.C. 2339B standards, but exempts support approved by the Secretary of State with Attorney General concurrence and humanitarian aid approved by the Office of Foreign Assets Control

Requires the Secretary to provide written notice to organizations before designation, giving them a 90-day period to demonstrate they did not provide the support, or to make reasonable efforts to recover the resources and certify in writing they will not provide further support

Allows organizations to challenge designations through the IRS Independent Office of Appeals and grants U.S. district courts exclusive jurisdiction to review final determinations, with provisions for classified information to be submitted ex parte and in camera

Applies to designations made after enactment for taxable years ending after the date of enactment