A bill to amend the Internal Revenue Code of 1986 to exclude...
A bill to amend the Internal Revenue Code of 1986 to exclude micro-grants for food security from gross income.
The bill, SB4780, aims to modify the Internal Revenue Code to exclude micro-grants for food security from being counted as gross income. This means that any small grants provided to help with food security issues would not be taxed. This change could help more people and organizations receive these grants without worrying about their tax implications.
This bill would primarily affect individuals and organizations receiving micro-grants for food security. By not counting these grants as income, it could encourage more donations and support for food security initiatives, potentially helping more people in need of food assistance. However, it might also slightly reduce the government's tax revenue from these grants.
As of June 15, 2026, SB4780 has just been introduced and referred to the Senate Committee on Finance. This means it is in the early stages of the legislative process, and further steps include committee review, possible amendments, and votes before it could be sent to the full Senate and then to the House of Representatives for consideration.
