Tax insight

H.R. 1, the “One Big Beautiful Bill Act” includes provisions affecting universities and other tax-exempt organizations

Insight
9 minute read
July 10, 2025

What happened?

President Donald J. Trump on July 4 signed into law H.R. 1, the “One Big Beautiful Bill Act” (Act). The Act was passed by the House on July 3 by vote of 218 to 214 and by the Senate on July 1 by a vote of 51 to 50, with the tie-breaking vote of Vice President JD Vance.

Why is it relevant?

The Act contains significant tax law changes affecting universities and other tax-exempt organizations, with various effective dates, including some tied to the legislation’s July 4 enactment date.

Action to consider 

Tax-exempt organizations will need to evaluate the potential effect of the Act on their business operations.