We have received text from H.R. 10148: Safeguarding America’s Nonprofits Act. This bill was received on 2026-08-24, and currently has 1 cosponsor.
Here is a short summary of the bill:
This bill would change the tax code to make clear that getting a federal tax exemption is not the same as receiving “federal financial assistance,” unless another law specifically says otherwise.
What the bill would do
- It would add a new rule to Section 501 of the Internal Revenue Code.
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For organizations covered by certain tax-exempt categories, including:
- organizations described in Section 501(c) or 501(d) , and
- organizations described in Section 401(a) (generally retirement plans),
Practical effect
In plain terms, the bill would try to prevent federal agencies or courts from counting a nonprofit’s or other covered organization’s tax-exempt status as if it were a government grant, subsidy, or other form of direct federal aid. The change would matter when other federal rules use the phrase “federal financial assistance” or similar language, because those rules would not automatically apply just because an organization is tax-exempt.
What it would not do
- It would not end tax exemption for nonprofits or other covered entities.
- It would not change whether an organization can receive actual federal grants or contracts.
- It would not stop Congress from writing a different rule in a specific law if it wants tax exemption to count as assistance in that context.
Additional clarification
The bill also says that nothing in this new rule should be read to mean that, before the law is enacted, tax exemption was already considered federal financial assistance. In other words, it is trying to clarify the legal status of tax exemption going forward without implying a position about earlier periods.
Relevant Companies
None found
Representative W. Gregory Steube Bill Proposals
Here are some bills which have recently been proposed by Representative W. Gregory Steube:
- H.R.10148: Safeguarding America’s Nonprofits Act
- H.R.10117: GATOR Act of 2026
- H.R.10104: Restoring Economic Diesel Fuel Act of 2026
- H.R.10078: Dollar-for-Dollar Deficit Reduction Act
- H.R.10006: Increasing Opportunity For Reindustrialization Act
- H.R.9767: Craft Distilled Spirits Direct-to-Consumer Shipping Act of 2026
You can track bills proposed by Representative W. Gregory Steube on Quiver Quantitative's politician page for Steube.
Representative W. Gregory Steube Net Worth
Quiver Quantitative estimates that Representative W. Gregory Steube is worth $1.0M, as of August 25th, 2026. This is the 337th highest net worth in Congress, per our live estimates.
Steube has approximately $695.1K invested in publicly traded assets which Quiver is able to track live.
You can track Representative W. Gregory Steube's net worth on Quiver Quantitative's politician page for Steube.
Representative W. Gregory Steube Stock Trading
We have data on up to $525.0K of trades from Representative W. Gregory Steube, which we parsed from STOCK Act filings. Some of the largest trades include:
- A March 9th, 2021 purchase of up to $50K of $SNV. The stock has risen 7.8% since then.
- A March 18th, 2026 purchase of up to $15K of $IONQ. The stock has risen 26.81% since then.
You can track Representative W. Gregory Steube's stock trading on Quiver Quantitative's politician page for Steube.
2026 Florida's 17th Congressional District Election
There has been approximately $1,931,460 of spending in Florida's 17th congressional district elections over the last two years, per our estimates.
The rating for this race is currently "Solid R".
You can track this election on our matchup page for the 2026 Florida's 17th congressional district election.
This article is not financial advice. See Quiver Quantitative's disclaimers for more information.
