S 427
103th Congress
Senate
Taxation
Capital gains tax
Charities
Cooperative societies
Excise tax
Foundations
Income tax
Investments
Tax-exempt organizations
A bill to amend the Internal Revenue Code of 1986 to permit private foundations to use common investment funds.
Introduced: February 24, 1993
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 24, 1993
Read twice and referred to the Committee on Finance.
Feb 24, 1993
Sponsor introductory remarks on measure. (CR S2022)
Feb 24, 1993
Introduced in Senate
Plain-English summary
Amends the Internal Revenue Code to permit tax-exempt private foundations and community foundations to establish tax-exempt cooperative service organizations to operate exclusively for charitable purposes. Declares that the excise tax based on investment income applies to such organizations.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1
Cosponsors
1