H.R. 10148 — Safeguarding America’s Nonprofits Act

This section provides that tax exemptions under section 501(c), (d), or 401(a) of the Internal Revenue Code do not constitute Federal financial assistance, or any similar term, for purposes of any Federal law, rule, or regulation unless explicitly provided otherwise. It includes a rule of construction stating that the provision does not imply any prior treatment of such exemptions as Federal assistance.