IHE Nonprofit Clarity Act

IHE Nonprofit Clarity Act This bill specifies that an institution of higher education (IHE) that is recognized as a tax-exempt nonprofit organization under Section 501(c)(3) of the Internal Revenue Code of 1986 must also be deemed as a nonprofit IHE for purposes of the Higher Education Act of 1965. Thus, if the Internal Revenue Service recognizes an IHE as a tax-exempt nonprofit organization, then the Department of Education must also recognize the IHE as a nonprofit IHE.

Source: Congressional Research Service (CRS).