S 676
111th Congress
Senate
Taxation
Financial services and investments
Sales and excise taxes
Tax-exempt organizations
A bill to amend the Internal Revenue Code of 1986 to modify the tax rate for excise tax on investment income of private foundations.
Introduced: March 24, 2009
Introduced by:
Schumer, Charles E.
Democratic
· New York
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 24, 2009
Referred to the Committee on Finance.
Mar 24, 2009
Introduced in Senate
Plain-English summary
Amends the Internal Revenue Code to: (1) reduce from 2 to 1.32% the excise tax rate on the net investment income of tax-exempt private foundations; and (2) repeal the 1% reduction in such tax rate for private foundations that meet certain distribution requirements.
What's happening now
Referred to the Committee on Finance.
Committees of jurisdiction
1
Cosponsors
1