II 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 Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. SHORT TITLE. 3 This Act may be cited as the ‘‘Collegiate Housing and 4 Infrastructure Act of 2023’’. 5 VerDate Sep 11 2014 05:20 May 12, 2023 Jkt 039200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S1420.IS S1420 pbinns on DSKJLVW7X2PROD with $$_JOB 2 •S 1420 IS SEC. 2. CHARITABLE ORGANIZATIONS PERMITTED TO 1 MAKE COLLEGIATE HOUSING AND INFRA- 2 STRUCTURE GRANTS. 3 (a) IN GENERAL.—Section 501 of the Internal Rev- 4 enue Code of 1986 is amended by adding at the end the 5 following new subsection: 6 ‘‘(s) TREATMENT OF ORGANIZATIONS MAKING COL- 7 LEGIATE HOUSING AND INFRASTRUCTURE IMPROVEMENT 8 GRANTS.— 9 ‘‘(1) IN GENERAL.—For purposes of subsection 10 (c)(3) and sections 170(c)(2)(B), 2055(a)(2), and 11 2522(a)(2), an organization shall not fail to be 12 treated as organized and operated exclusively for 13 charitable or educational purposes solely because 14 such organization makes collegiate housing and in- 15 frastructure grants to an organization described in 16 subsection (c)(7) which applies the grant to its colle- 17 giate housing property. 18 ‘‘(2) HOUSING AND INFRASTRUCTURE 19 GRANTS.—For purposes of paragraph (1), collegiate 20 housing and infrastructure grants are grants for 21 capital improvements to provide, improve, operate, 22 or maintain collegiate housing property that may in- 23 volve more than incidental social, recreational, or 24 private purposes, so long as such grants are for pur- 25 poses that would be permissible for a dormitory or 26 VerDate Sep 11 2014 05:20 May 12, 2023 Jkt 039200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\S1420.IS S1420 pbinns on DSKJLVW7X2PROD with $$_JOB 3 •S 1420 IS other residential facility of the college or university 1 with which the collegiate housing property is associ- 2 ated. A grant shall not be treated as a collegiate 3 housing and infrastructure grant for purposes of 4 paragraph (1) to the extent that such grant is used 5 to provide physical fitness facilities. 6 ‘‘(3) COLLEGIATE HOUSING PROPERTY.—For 7 purposes of this subsection, collegiate housing prop- 8 erty is property in which, at the time of a grant or 9 following the acquisition, lease, construction, or 10 modification of such property using such grant, sub- 11 stantially all of the residents are full-time students 12 at the college or university in the community where 13 such property is located. 14 ‘‘(4) GRANTS TO CERTAIN ORGANIZATIONS 15 HOLDING TITLE TO PROPERTY, ETC.—For purposes 16 of this subsection, a collegiate housing and infra- 17 structure grant to an organization described in sub- 18 section (c)(2) or (c)(7) holding title to property ex- 19 clusively for the benefit of an organization described 20 in subsection (c)(7) shall be considered a grant to 21 the organization described in subsection (c)(7) for 22 whose benefit such property is held.’’. 23 VerDate Sep 11 2014 05:20 May 12, 2023 Jkt 039200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\S1420.IS S1420 pbinns on DSKJLVW7X2PROD with $$_JOB 4 •S 1420 IS (b) EFFECTIVE DATE.—The amendment made by 1 this section shall apply to grants made in taxable years 2 ending after the date of the enactment of this Act. 3 Æ VerDate Sep 11 2014 05:20 May 12, 2023 Jkt 039200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6301 E:\BILLS\S1420.IS S1420 pbinns on DSKJLVW7X2PROD with $$_JOB