US HB4035 | 2011-2012 | 112th Congress
Status
Spectrum: Bipartisan Bill
Status: Introduced on February 15 2012 - 25% progression, died in committee
Action: 2012-02-15 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on February 15 2012 - 25% progression, died in committee
Action: 2012-02-15 - 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 2012 - Amends the Internal Revenue Code to exempt the holdings of a private foundation in any business enterprise that meet specified requirements relating to exclusive ownership, minimum distribution of net operating income, and independent operation (i.e., not controlled by a substantial contributor) from the excise tax on excess business holdings and unrelated business income.
Title
Philanthropic Enterprise Act of 2012
Sponsors
Rep. David Reichert [R-WA] | Rep. Jim Gerlach [R-PA] | Rep. John Larson [D-CT] | Rep. Richard Neal [D-MA] |
Rep. Bill Pascrell [D-NJ] | Rep. Erik Paulsen [R-MN] | Rep. Aaron Schock [R-IL] |
History
Date | Chamber | Action |
---|---|---|
2012-02-15 | House | Referred to the House Committee on Ways and Means. |
Same As/Similar To
SB3377 (Same As) 2012-07-12 - 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/112th-congress/house-bill/4035/all-info |
Text | https://www.congress.gov/112/bills/hr4035/BILLS-112hr4035ih.pdf |