Skip to main content
S 593 112th 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 16, 2011 Introduced by: Schumer, Charles E. Democratic · New York See on congress.gov
Sign in to write a letter Sign in to watch
This bill died when the 112th Congress ended
It never became law before the 112th Congress (2011–2012) 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 16, 2011
Read twice and referred to the Committee on Finance.
Mar 16, 2011
Introduced in Senate
 Ask about this bill AI · grounded in the bill text

Have a question about what this bill does? Ask in plain English; the answer is drawn from the bill's actual text and official record, and it'll tell you when something isn't in the text rather than guess.

AI answers can be imperfect; always confirm against the full bill text.

 Plain-English summary Congressional Research Service

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 March 16, 2011

Read twice and referred to the Committee on Finance.

 Related & companion bills 1
  • HR 2311 Identical bill To amend the Internal Revenue Code of 1986 to modify the tax rate for excise tax on investment income of private founda…
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Democratic 1 Republican 2
R
Crapo, Mike
Idaho · Mar 29, 2011
 D
Gillibrand, Kirsten E.
New York · Mar 16, 2011
 R
Murkowski, Lisa
Alaska · Mar 16, 2011
Cite this page click to expand
APA
U.S. Congress. (2026). S. 593: A bill to amend the Internal Revenue Code of 1986 to modify the tax rate for excise tax on investment income of private foundations.. 112th Congress. Open America. https://openamerica.io/bill/112-S-593/
MLA
"S. 593: A bill to amend the Internal Revenue Code of 1986 to modify the tax rate for excise tax on investment income of private foundations.." 112th Congress, 2026, Open America, https://openamerica.io/bill/112-S-593/.
Bluebook (legal)
S. 593, 112th Cong. (2026), https://openamerica.io/bill/112-S-593/.
Markdown link
[S. 593: 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/112-S-593/)
Report a problem