HR 2311
112th Congress
House
Taxation
Financial services and investments
Sales and excise taxes
Tax-exempt organizations
To amend the Internal Revenue Code of 1986 to modify the tax rate for excise tax on investment income of private foundations.
Introduced: June 23, 2011
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 23, 2011
Referred to the House Committee on Ways and Means.
Jun 23, 2011
Introduced in House
Plain-English summary
Amends the Internal Revenue Code to: (1) reduce from 2% to 1.39% 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 House Committee on Ways and Means.
Committees of jurisdiction
1