US HB3035 | 2017-2018 | 115th Congress


Spectrum: Bipartisan Bill
Status: Introduced on June 23 2017 - 25% progression
Action: 2017-06-23 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]


Philanthropic Enterprise Act of 2017 This bill 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 (all profits to charity distribution requirement), and independent operation (not controlled by a substantial contributor or family members) from the excise taxes on excess business holdings.

Tracking Information

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Philanthropic Enterprise Act of 2017



2017-06-23HouseReferred to the House Committee on Ways and Means.
2017-06-23HouseIntroduced in House

Same As/Similar To

SB1343 (Related) 2017-06-13 - Read twice and referred to the Committee on Finance.
HB1 (Related) 2017-12-22 - Became Public Law No: 115-97. (TXT | PDF)
HR619 (Similar To) 2017-11-15 - Motion to reconsider laid on the table Agreed to without objection.
SB1 (Related) 2017-11-28 - Placed on Senate Legislative Calendar under General Orders. Calendar No. 269.


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Bill Comments