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S 2710 113th Congress Senate

Philanthropic Enterprise Act of 2014

Official title: A bill to amend the Internal Revenue Code of 1986 to exempt private foundations from the tax on excess business holdings in the case of certain philanthropic e… Show full official titleShow less

Official title: A bill to amend the Internal Revenue Code of 1986 to exempt private foundations from the tax on excess business holdings in the case of certain philanthropic enterprises which are independently supervised, and for other purposes.

Introduced: July 30, 2014 See on congress.gov
Taxation Business investment and capitalSales and excise taxesSocial work, volunteer service, charitable organizationsTax-exempt organizations
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This bill died when the 113th Congress ended
It never became law before the 113th Congress (2013–2014) 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
Jul 30, 2014
Read twice and referred to the Committee on Finance.
Jul 30, 2014
Introduced in Senate
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 Latest action July 30, 2014

Read twice and referred to the Committee on Finance.

 Plain-English summary Congressional Research Service

Philanthropic Enterprise Act of 2014 - Amends the Internal Revenue Code to exempt the holdings of a private foundation in any business enterprise that meet specified requirements relating to exclusive ownership, minimum distribution of net operating income for the charitable purpose (all profits to charity), and independent operation (i.e., not controlled by a substantial contributor or family members) from the excise taxes on excess business holdings and unrelated business income.

 Related & companion bills 1
  • HR 5645 Related bill Philanthropic Enterprise Act of 2014
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 5
All 5 Democratic 2 Republican 2 Independent 1
I
King, Angus S., Jr.
Maine · Nov 18, 2014
 R
Moran, Jerry
Kansas · Sep 9, 2014
 D
Murphy, Christopher
Connecticut · Sep 8, 2014
 D
Klobuchar, Amy
Minnesota · Jul 31, 2014
 R
Thune, John
South Dakota · Jul 30, 2014
Cite this page click to expand
APA
U.S. Congress. (2026). S. 2710: Philanthropic Enterprise Act of 2014. 113th Congress. Open America. https://openamerica.io/bill/113-S-2710/
MLA
"S. 2710: Philanthropic Enterprise Act of 2014." 113th Congress, 2026, Open America, https://openamerica.io/bill/113-S-2710/.
Bluebook (legal)
S. 2710, 113th Cong. (2026), https://openamerica.io/bill/113-S-2710/.
Markdown link
[S. 2710: Philanthropic Enterprise Act of 2014](https://openamerica.io/bill/113-S-2710/)
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