Colleges Won't Lose Tax Exempt Status over Gay Marriage

Colleges and universities that reject gay marriage can still keep their tax exempt status, at least for now. 

At a Senate hearing, Internal Revenue Service Commissioner John Koskinen said he "can make that commitment."

Koskinen was responding to a question from Sen. Mike Lee, R-Utah, about whether the IRS chilef could pledge that he would not "take any action to remove the tax-exempt status from religious colleges and universities based on their belief that marriage is between a man and a woman."

However, Koskinen left the door open for change. He said if public policy shifts, it could mean the IRS would reevaluate that position in the future.

But said that won't happen wtihin the next several years and would have to be preceded by a draft regulation with time for public comments.