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After much uncertainty surrounding competing bills, the House of Representatives voted to pass comprehensive tax reform legislation (the “Act”) on December 20, 2017, shortly after the Senate passed the measure. The Act will now be sent to President Trump’s desk, and it is expected that he will sign the bill into law. The Act contains a number of provisions relevant to tax-exempt organizations, and many provisions contained in earlier versions of the legislation have been eliminated.

Key provisions of interest are summarized here.