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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
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This bill died when the 111th Congress ended
It never became law before the 111th Congress (2009–2010) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 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
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 Plain-English summary Congressional Research Service

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 March 24, 2009

Referred to the Committee on Finance.

 Related & companion bills 1
  • HR 4090 Related bill To amend the Internal Revenue Code of 1986 to modify the rate of the excise tax on investment income of private foundat…
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1
R
Murkowski, Lisa
Alaska · Aug 4, 2009
Cite this page click to expand
APA
U.S. Congress. (2026). S. 676: A bill to amend the Internal Revenue Code of 1986 to modify the tax rate for excise tax on investment income of private foundations.. 111th Congress. Open America. https://openamerica.io/bill/111-S-676/
MLA
"S. 676: A bill to amend the Internal Revenue Code of 1986 to modify the tax rate for excise tax on investment income of private foundations.." 111th Congress, 2026, Open America, https://openamerica.io/bill/111-S-676/.
Bluebook (legal)
S. 676, 111th Cong. (2026), https://openamerica.io/bill/111-S-676/.
Markdown link
[S. 676: A bill to amend the Internal Revenue Code of 1986 to modify the tax rate for excise tax on investment income of private foundations.](https://openamerica.io/bill/111-S-676/)
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