,,ii  #aacth ,,congress  #ast ,session  
,s4 #fed  ,,in ,,the ,,senate ,,of ,,the
 ,,united ,,states  ,march #bb1 #bjac   
,ms4 ,landrieu 7for herself1 ,mr4 ,enzi1
 ,mr4 ,carper1 and ,mr4 ,roberts7       
introduced the following bill2 which was
 read twice and referred to the         
,committee on ,finance  ,a ,,bill  ,to  
amend the ,internal ,revenue ,code of   
#aihf to provide for collegiate housing 
and infrastructure grants4  #a4 ,short  
title ,this ,act may be cited as the    
,collegiate ,housing and ,infrastructure
 ,act of #bjac4  #b4 ,charitable        
organizations permitted to make         
collegiate housing and infrastructure   
grants  7a7 ,in general ,section #eja of
 the ,internal ,revenue ,code of #aihf  
7relating to exemption from tax on      
corporations1 certain trusts1 etc47 is  
amended by redesignating subsection 7s7 
as subsection 7t7 and by inserting after
 subsection 7r7 the following new       
subsection3  7s7 ,treatment of          
organizations making collegiate housing 

and infrastructure improvement grants   
7#a7 ,in general ,for purposes of       
subsection 7c77#c7 and sections         
#agj7;c77#b77;,b71 #bjee7;a77#b71 and   
#bebb7;a77#b71 an organization shall not
 fail to be treated as organized and    
operated exclusively for charitable or  
educational purposes solely because such
 organization makes collegiate housing  
and infrastructure grants to an         
organization described in subsection    
7c77#g7 which applies the grant to its  
collegiate housing property4  7#b7      
,housing and infrastructure grants ,for 
purposes of paragraph 7#a71 collegiate  
housing and infrastructure grants are   
grants to provide1 improve1 operate1 or 
maintain collegiate housing property    
that may involve more than incidental   
social1 recreational1 or private        
purposes1 so long as such grants are for
 purposes that would be permissible for 
a dormitory or other residential        
facility of the college or university   
with which the collegiate housing       

property is associated4 ,a grant shall  
not be treated as a collegiate housing  
and infrastructure grant for purposes of
 paragraph 7#a7 to the extent that such 
grant is used to provide physical       
fitness facilities4  7#c7 ,collegiate   
housing property ,for purposes of this  
subsection1 collegiate housing property 
is property in which1 at the time of a  
grant or following the acquisition1     
lease1 construction1 or modification of 
such property using such grant1         
substantially all of the residents are  
full-time students at the college or    
university in the community where such  
property is located4  7#d7 ,grants to   
certain organizations holding title to  
property1 etc ,for purposes of this     
subsection1 a collegiate housing and    
infrastructure grant to an organization 
described in subsection 7c77#b7 or      
7c77#g7 holding title to property       
exclusively for the benefit of an       
organization described in subsection    
7c77#g7 shall be considered a grant to  

the organization described in subsection
 7c77#g7 for whose benefit such property
 is held4  4  7b7 ,effective date ,the  
amendment made by this section shall    
apply to grants made in taxable years   
ending after the date of the enactment  
of this ,act4