A bill to amend section 4945(g) of the Internal Revenue Code of 1954 to make it clear that nothing in that provision authorizes the limitation of the grants awarded by a private Foundation to a fixed percentage of the number of applicants for such grants.

Amends the Internal Revenue Code to provide that the Secretary of the Treasury may not prescribe regulations which limit the number of education grants by private foundations to specified portions of their applicants in order to qualify as nontaxable expenditures.