US SB632 | 2019-2020 | 116th Congress
Status
Spectrum: Moderate Partisan Bill (Republican 10-2-1)
Status: Introduced on February 28 2019 - 25% progression, died in committee
Action: 2019-02-28 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on February 28 2019 - 25% progression, died in committee
Action: 2019-02-28 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Modifies the requirements for determining the unrelated business taxable income of tax-exempt organizations. The bill repeals a provision that requires unrelated business taxable income to be increased by the amount of expenses paid or incurred by a tax-exempt organization for certain fringe benefits for which a tax deduction is not allowed, including benefits relating to transportation, parking, or an on-premises athletic facility.
Title
LIFT for Charities Act Lessen Impediments From Taxes for Charities Act
Sponsors
| Sen. James Lankford [R-OK] | Sen. Christopher Coons [D-DE] | Sen. Angus King [I-ME] | Sen. Susan Collins [R-ME] |
| Sen. Josh Hawley [R-MO] | Sen. Steve Daines [R-MT] | Sen. Doug Jones [D-AL] | Sen. Marsha Blackburn [R-TN] |
| Sen. Joni Ernst [R-IA] | Sen. Martha McSally [R-AZ] | Sen. John Hoeven [R-ND] | Sen. Mike Lee [R-UT] |
| Sen. Roy Blunt [R-MO] |
History
| Date | Chamber | Action |
|---|---|---|
| 2019-02-28 | Senate | Read twice and referred to the Committee on Finance. |
Same As/Similar To
HB513 (Related) 2019-01-11 - Referred to the House Committee on Ways and Means.
HB1223 (Related) 2019-02-14 - Referred to the House Committee on Ways and Means.
HB1545 (Related) 2019-03-05 - Referred to the House Committee on Ways and Means.
SB501 (Related) 2019-02-14 - Read twice and referred to the Committee on Finance.
SB1282 (Related) 2019-05-02 - Read twice and referred to the Committee on Finance.
HB3300 (Related) 2020-02-04 - Placed on the Union Calendar, Calendar No. 307.
HB1223 (Related) 2019-02-14 - Referred to the House Committee on Ways and Means.
HB1545 (Related) 2019-03-05 - Referred to the House Committee on Ways and Means.
SB501 (Related) 2019-02-14 - Read twice and referred to the Committee on Finance.
SB1282 (Related) 2019-05-02 - Read twice and referred to the Committee on Finance.
HB3300 (Related) 2020-02-04 - Placed on the Union Calendar, Calendar No. 307.
Subjects
Business expenses
Income tax rates
Sports and recreation facilities
Tax-exempt organizations
Taxation
Transportation costs
Income tax rates
Sports and recreation facilities
Tax-exempt organizations
Taxation
Transportation costs
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/116th-congress/senate-bill/632/all-info |
| Text | https://www.congress.gov/116/bills/s632/BILLS-116s632is.pdf |
