This bill proposes to amend the Internal Revenue Code of 1986 to provide an exemption for qualified religious institutions from the existing excise tax on investment income. This legislative change would specifically modify Section 4968(c) to exclude these institutions from the tax burden. To be considered a "qualified religious institution," an entity must have been established after July 4, 1776, and be associated with a religious organization as defined in section 170(b)(1)(A)(i). Furthermore, it must satisfy specific criteria regarding its governance, such as having a significant portion of its governing body appointed by or composed of clerical members from the associated organization, or possessing a formal written agreement or designation from that organization. The institution must also maintain a published mission statement that is approved by its governing body and explicitly incorporates religious tenets, beliefs, or teachings. The amendments made by this bill are slated to take effect for taxable years beginning after December 31, 2025 , with the Secretary of the Treasury mandated to issue necessary regulations or guidance by December 31, 2026.