To amend the Internal Revenue Code of 1986 to exempt qualified...
To amend the Internal Revenue Code of 1986 to exempt qualified religious institutions from the excise tax on investment income.
This bill proposes to change the tax rules for certain religious institutions by exempting them from the excise tax on investment income. This means that these religious groups would not have to pay an additional tax on the money they earn from investments.
The bill would impact qualified religious institutions that currently pay this excise tax. It would relieve them of a financial burden by removing this tax, potentially allowing them to allocate more resources to their religious activities and community services.
HB9353 was introduced on June 18, 2026, and has been referred to the House Committee on Ways and Means for further consideration. The bill is currently in its initial stages, and the committee will review and potentially make changes before it moves forward in the legislative process.
