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HR 5007 114th Congress House Taxation Business investment and capital Sales and excise taxes Social work, volunteer service, charitable organizations Tax-exempt organizations

Philanthropic Enterprise Act of 2016

Introduced: September 13, 2016 See on congress.gov
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This bill died when the 114th Congress ended
It never became law before the 114th Congress (2015–2016) 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
Apr 20, 2016
Referred to the House Committee on Ways and Means.
Apr 20, 2016
Introduced in House
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 Plain-English summary Congressional Research Service

Philanthropic Enterprise Act of 2016

This bill 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 distribution requirement), and independent operation (not controlled by a substantial contributor or family members) from the excise taxes on excess business holdings.

What's happening now April 20, 2016

Referred to the House Committee on Ways and Means.

 Related & companion bills 3
  • HR 3732 Related bill Philanthropic Enterprise Act of 2015
  • S 2750 Related bill Charities Helping Americans Regularly Throughout the Year Act
  • S 909 Related bill Philanthropic Enterprise Act of 2015
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 11
All 11 Democratic 5 Republican 2
Rice, Tom
· Sep 13, 2016
 R
Kelly, Mike
Pennsylvania · Jul 13, 2016
 D
Cohen, Steve
Tennessee · Jul 5, 2016
 D
McGovern, James P.
Massachusetts · May 17, 2016
Byrne, Bradley
· Apr 20, 2016
 D
Himes, James A.
Connecticut · Apr 20, 2016
Holding, George
· Apr 20, 2016
 D
Larson, John B.
Connecticut · Apr 20, 2016
 D
Neal, Richard E.
Massachusetts · Apr 20, 2016
 R
Smith, Jason
Missouri · Apr 20, 2016
TIBERI, PATRICK
· Apr 20, 2016
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 5007: Philanthropic Enterprise Act of 2016. 114th Congress. Open America. https://openamerica.io/bill/114-HR-5007/
MLA
"H.R. 5007: Philanthropic Enterprise Act of 2016." 114th Congress, 2026, Open America, https://openamerica.io/bill/114-HR-5007/.
Bluebook (legal)
H.R. 5007, 114th Cong. (2026), https://openamerica.io/bill/114-HR-5007/.
Markdown link
[H.R. 5007: Philanthropic Enterprise Act of 2016](https://openamerica.io/bill/114-HR-5007/)
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