On May 22, the US House of Representatives passed H.R. 1, the “One Big Beautiful Bill Act.” This alert highlights the provisions in the Bill that could impact tax-exempt organizations.

As passed by the House, the Bill reflects significant changes from the version reported by the House and Ways and Means Committee (Committee version) covered in our previous alert.

The Bill now moves to the US Senate for consideration. Further changes are likely to occur in the Senate, and the revised version of the legislation would then need to be approved by the House before sending it to the president’s desk.

The Bill does not include the following provisions included in the Committee version: • Unrelated Business Taxable Income From Name and Logo Royalties: The Bill does not include the proposed mo

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