S. 5669Senate119th Congress (2025-2027)In Committee

End Tax Breaks for Dark Money Act

A bill to amend the Internal Revenue Code of 1986 to treat transfers of appreciated property to certain tax-exempt organizations the same as transfers of appreciated property to political organizations.

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Updated October 9, 2026 at 3:42 AM UTC

The End Tax Breaks for Dark Money Act would change the tax code so that donations of appreciated property (like stocks or real estate) to certain tax‑exempt groups no longer receive the special tax benefit they currently get. Instead, these transfers would be treated the same way as gifts to political organizations, removing the deduction. The change applies to political groups and to specific types of 501(c) nonprofits listed in the code, affecting donors who give appreciated assets to those groups.

Key Provisions

Amends Section 84 of the Internal Revenue Code to replace the term “political organization” with “specified organization.”
Defines “specified organization” to include any political organization and any organization covered by paragraphs (4), (5), or (6) of Section 501(c) (certain charitable nonprofits).
Eliminates the tax deduction for transfers of appreciated property to these specified organizations, treating them like transfers to political groups.
Updates headings and table of sections to reflect the new terminology.
Effective for transfers made after the law’s enactment, applying to taxable years ending thereafter.

Legislative Activity

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1 earlier action

SenateIntro Referral Latest Action

Read twice and referred to the Committee on Finance.

Finance Committee

September 30, 2026

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SenateIntro Referral

Introduced in Senate

September 30, 2026

SenateIntro Referral

Read twice and referred to the Committee on Finance.

Finance Committee

September 30, 2026

Bill Text

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Introduced in SenateIssued September 30, 2026

119th CONGRESS

2d Session

S. 5669

IN THE SENATE OF THE UNITED STATES

September 30, 2026

Mr. Whitehouse (for himself, Ms. Cortez Masto, Mr. Welch, Ms. Smith, Mr. Merkley, Mr. Schatz, Ms. Warren, and Ms. Baldwin) 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 treat transfers of appreciated property to certain tax-exempt organizations the same as transfers of appreciated property to political organizations.

Short title

This Act may be cited as the End Tax Breaks for Dark Money Act.

Treatment of transfers of appreciated property to certain tax-exempt organizations

(a)

In general

Subsections (a) and (b) of section 84 of the Internal Revenue Code of 1986 are each amended by striking political organization each place it appears and inserting specified organization.

(b)

Specified organization

Section 84(c) of the Internal Revenue Code of 1986 is amended to read as follows:

(c)

Specified organization

For purposes of this section, the term specified organization means—

(1)

any political organization (as defined in section 527(e)(1)), and

(2)

any organization described in paragraph (4), (5), or (6) of section 501(c).

(c)

Clerical amendments

(1)

The heading of section 84 of the Internal Revenue Code of 1986 is amended by striking political and inserting specified.

(2)

The item relating to section 84 in the table of sections for part II of subchapter B of chapter 1 of such Code is amended to read as follows:

Sec. 84. Transfer of appreciated property to specified organizations.

(d)

Effective date

The amendments made by this section shall apply to transfer after the date of the enactment of this Act, in taxable years ending after such date.