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HR 2519 104th Congress House

Philanthropy Protection Act of 1995

Official title: To facilitate contributions to charitable organizations by codifying certain exemptions from the Federal securities laws, and for other purposes.

Introduced: October 24, 1995 See on congress.gov
Finance and Financial Sector AnnuitiesBrokersCharitiesFederal preemption
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Fund raisingGovernment Operations and PoliticsGovernment paperworkInformation disclosure (Securities law)Investment advisersLabor and EmploymentLawLicensesMutual fundsSecuritiesSecurities industrySecurities regulationSocial WelfareState lawsTrusts and trustees
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 Everywhere this bill has been 26 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 8, 1995
Signed by President.
Dec 8, 1995
Became Public Law No: 104-62.
Nov 30, 1995
Message on Senate action sent to the House.
Nov 30, 1995
Presented to President.
Nov 29, 1995
Received in the Senate, read twice, considered, read the third time, and passed without amendment by Voice Vote. (consideration: CR S17828)
Nov 29, 1995
Passed/agreed to in Senate: Received in the Senate, read twice, considered, read the third time, and passed without amendment by Voice Vote.(consideration: CR S17828)
Nov 28, 1995
The previous question was ordered on the amendment and the bill without objection.
Nov 28, 1995
DEBATE - The House proceeded with one hour of debate.
Nov 28, 1995
Called up from the Corrections Calendar for consideration.
Nov 28, 1995
Considered from the Corrections Calendar. (consideration: CR H13670-13677, H13679-13680)
Nov 28, 1995
Considered as unfinished business.
Nov 28, 1995
Motion to reconsider laid on the table Agreed to without objection.
Nov 28, 1995
On passage Passed by the Yeas and Nays: (3/5 required): 421 - 0 (Roll no. 822).
Nov 28, 1995
VOTE POSTPONED - At the conclusion of debate, the Chair put the question on passage of the bill, as amended, and announced that, by voice vote, three-fifths of the Members voting in the affirmative, the bill was passed. Mr. Markey objected to the vote on the grounds that a quroum was not present and made a point of order that a quorum was not present. The Chair postponed further consideration and without objection the point of no quorum was withdrawn.
Nov 14, 1995
Placed on the Corrections Calendar, Calendar No. 8.
Nov 10, 1995
Placed on the Union Calendar, Calendar No. 178.
Nov 10, 1995
Reported (Amended) by the Committee on Commerce. H. Rept. 104-333.
Nov 1, 1995
Ordered to be Reported (Amended) by Voice Vote.
Nov 1, 1995
Committee Consideration and Mark-up Session Held.
Oct 31, 1995
Forwarded by Subcommittee to Full Committee by Voice Vote.
Oct 31, 1995
Subcommittee Consideration and Mark-up Session Held.
Oct 31, 1995
Subcommittee Hearings Held.
Oct 27, 1995
Referred to the Subcommittee on Telecommunications and Finance.
Oct 24, 1995
Referred to the House Committee on Commerce.
Oct 24, 1995
Sponsor introductory remarks on measure. (CR E2006-2007)
Oct 24, 1995
Introduced in House
 Votes taken on this bill 1
DateChamberWhat was voted onResultYes–No
Nov 28, 1995 House · vote #822 On Passage Passed 421–0 See who voted →
 Amendments to this bill 1

Amendments propose changes to this bill. Members vote on amendments separately before the final bill vote. An agreed amendment becomes part of the bill; a failed amendment does not.

1 agreed to

AmendmentSponsorPurposeStatusLatest action
HAMDT 908 – An amendment in the nature of a substitute to replace the amendments recommended by the report of the Committ… Agreed to Nov 28, 1995
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 Latest action December 8, 1995

Became Public Law No: 104-62.

 Plain-English summary Congressional Research Service

Philanthropy Protection Act of 1995 - Exempts from the jurisdiction of the Investment Company Act of 1940, the Securities Act of 1933, the Securities Exchange Act of 1934, and the Investment Advisers Act of 1940 any security issued by or any interest or participation in any pooled income fund, collective trust fund, collective investment fund, or similar fund maintained by a charitable organization exclusively for the collective investment and reinvestment of certain assets. Includes among such assets those of: (1) a charitable remainder trust or of any other trust the remainder interests of which are irrevocably dedicated to any charitable organization; or (2) a trust the remainder interests of which are revocably dedicated to a charitable organization, subject to specified conditions. Deems such a charitable income fund, in specified circumstances, not to be an investment company under the Investment Company Act of 1940.

Amends the Investment Company Act of 1940 to set forth disclosure requirements for exempt charitable organizations.

Amends the Securities Exchange Act of 1934 to require solicitors of funds for such exempt charitable organizations to be volunteers or to be engaged in overall fund-raising activities of the organization but receiving no commission or other special compensation based on the amount of donations collected.

Exempts such charitable organizations from State regulation in general, and such securities from State registration or qualification requirements in particular.

Permits a State to enact a statute that specifically refers to this Act and provides prospectively that it does not preempt the laws of such State.

 Bill text 6 versions

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Democratic 1
D
Markey, Edward J.
Massachusetts · Oct 24, 1995
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 2519: Philanthropy Protection Act of 1995. 104th Congress. Open America. https://openamerica.io/bill/104-HR-2519/
MLA
"H.R. 2519: Philanthropy Protection Act of 1995." 104th Congress, 2026, Open America, https://openamerica.io/bill/104-HR-2519/.
Bluebook (legal)
H.R. 2519, 104th Cong. (2026), https://openamerica.io/bill/104-HR-2519/.
Markdown link
[H.R. 2519: Philanthropy Protection Act of 1995](https://openamerica.io/bill/104-HR-2519/)
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