US Congress House Bill 4090 (Prior Session Legislation)

---

Spectrum: Slight Partisan Bill (Democrat 16-6)
Status: Introduced on November 17 2009 - 25% progression, died in committee
Action: 2009-11-17 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Amends the Internal Revenue Code to: (1) reduce between 2010 and 2015 the excise tax rate on the net investment income of tax-exempt private foundations from 2 to 1.32%; and (2) suspend between 2010 and 2015 the 1% reduction in such tax rate for private foundations that meet certain distribution requirements. Directs the Secretary of the Treasury to conduct and submit to Congress by December 31, 2013, a study which examines the effect of the tax rate changes of this Act on the level of grantmaking by private foundations.

To amend the Internal Revenue Code of 1986 to modify the rate of the excise tax on investment income of private foundations, and for other purposes.

Rep. Sanford Bishop [D-GA]	Rep. Tom Cole [R-OK]	Rep. Danny Davis [D-IL]	Rep. Charles Dent [R-PA]
Rep. Keith Ellison [D-MN]	Rep. Bob Etheridge [D-NC]	Rep. Luis Gutierrez [D-IL]	Rep. Rush Holt [D-NJ]
Rep. Jesse Jackson [D-IL]	Rep. Henry Johnson [D-GA]	Rep. Dale Kildee [D-MI]	Rep. Sander Levin [D-MI]
Rep. John Lewis [D-GA]	Rep. Tim Murphy [R-PA]	Sen. Gary Peters [D-MI]	Rep. Nick Rahall [D-WV]
Rep. Janice Schakowsky [D-IL]	Rep. Mark Schauer [D-MI]	Rep. John Spratt [D-SC]	Rep. Patrick Tiberi [R-OH]
Rep. Fred Upton [R-MI]	Rep. Don Young [R-AK]

Date	Chamber	Action
2009-11-17		Referred to the House Committee on Ways and Means.

SB676 (Related) 2009-03-24 - Referred to the Committee on Finance.

Type	Source
Summary	https://www.congress.gov/bill/111th-congress/house-bill/4090/all-info
Text	https://www.congress.gov/111/bills/hr4090/BILLS-111hr4090ih.pdf