[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[S. 1246 Introduced in Senate (IS)]
108th CONGRESS
1st Session
S. 1246
To amend the Internal Revenue Code of 1986 to provide for collegiate
housing and infrastructure grants.
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IN THE SENATE OF THE UNITED STATES
June 12, 2003
Mr. Roberts introduced the following bill; which was read twice and
referred to the Committee on Finance
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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 Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Collegiate Housing and
Infrastructure Act of 2003''.
SEC. 2. CHARITABLE ORGANIZATIONS PERMITTED TO MAKE COLLEGIATE HOUSING
AND INFRASTRUCTURE GRANTS.
(a) In General.--Section 501 of the Internal Revenue Code of 1986
(relating to exemption from tax on corporations, certain trusts, etc.)
is amended by redesignating subsection (p) as subsection (q) and by
inserting after subsection (o) the following new subsection:
``(p) Treatment of Organizations Making Collegiate Housing and
Infrastructure Improvement Grants.--
``(1) In general.--For purposes of subsection (c)(3) and
sections 170(c)(2)(B), 2055(a), and 2522(a)(2), an organization
shall not fail to be treated as organized and operated
exclusively for charitable or educational purposes solely
because such organization makes collegiate housing and
infrastructure grants to an organization described in
subsection (c)(7), so long as, at the time of each such grant,
substantially all of the active members of the recipient
organization are full-time students at the college or
university with which such recipient organization is
associated.
``(2) Housing and infrastructure grants.--For purposes of
paragraph (1), collegiate housing and infrastructure grants are
grants to provide, improve, operate, or maintain collegiate
housing that may involve more than incidental social,
recreational, or private purposes, so long as such grants are
for purposes (including provision for students of sleeping
quarters, dining areas, study areas, libraries, instructional
areas, fire and other safety improvements, computers and
peripheral equipment, computer wiring, dedicated social or
recreational areas, physical fitness facilities or equipment,
laundry facilities, and telephone service) that would be
permissible for a college or university described in subsection
(c)(3).
``(3) Grants to certain organizations holding title to
property, etc.--For purposes of this subsection, a grant to an
organization described in subsection (c)(2) or (c)(7) holding
title to property for the benefit of an organization described
in subsection (c)(7) shall be considered a grant to the
organization described in subsection (c)(7) for whose benefit
such property is held.''.
(b) Effective Date.--The amendment made by this section shall apply
to grants made in taxable years ending after the date of the enactment
of this Act.
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