US HB5645 | 2013-2014 | 113th Congress
Status
Spectrum: Slight Partisan Bill (Republican 4-2)
Status: Introduced on September 18 2014 - 25% progression, died in committee
Action: 2014-09-18 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on September 18 2014 - 25% progression, died in committee
Action: 2014-09-18 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Philanthropic Enterprise Act of 2014 - Amends the Internal Revenue Code to exempt the holdings of a private foundation in any business enterprise that meets specified requirements relating to exclusive ownership, minimum distribution of net operating income for the charitable purpose, and independent operation (i.e., not controlled by a substantial contributor or family members) from the excise taxes on excess business holdings and unrelated business income.
Title
Philanthropic Enterprise Act of 2014
Sponsors
| Rep. David Reichert [R-WA] | Rep. John Larson [D-CT] | Rep. Richard Neal [D-MA] | Rep. Erik Paulsen [R-MN] |
| Rep. Aaron Schock [R-IL] | Rep. Patrick Tiberi [R-OH] |
History
| Date | Chamber | Action |
|---|---|---|
| 2014-09-18 | House | Referred to the House Committee on Ways and Means. |
Same As/Similar To
SB2710 (Related) 2014-07-30 - Read twice and referred to the Committee on Finance.
Subjects
Business investment and capital
Sales and excise taxes
Social work, volunteer service, charitable organizations
Tax-exempt organizations
Taxation
Sales and excise taxes
Social work, volunteer service, charitable organizations
Tax-exempt organizations
Taxation
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/113th-congress/house-bill/5645/all-info |
| Text | https://www.congress.gov/113/bills/hr5645/BILLS-113hr5645ih.pdf |
