S 2710
113th Congress
Senate
Taxation
Business investment and capital
Sales and excise taxes
Social work, volunteer service, charitable organizations
Tax-exempt organizations
Philanthropic Enterprise Act of 2014
Introduced: July 30, 2014
See on congress.gov
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
Plain-English summary
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.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1