HR 640
114th Congress
House
Taxation
Financial services and investments
Sales and excise taxes
Tax-exempt organizations
Private Foundation Excise Tax Simplification Act of 2015
Introduced: February 2, 2015
See on congress.gov
Everywhere this bill has been
6 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 9, 2015
Placed on the Union Calendar, Calendar No. 13.
Feb 9, 2015
Committee on the Budget discharged.
Feb 9, 2015
Reported (Amended) by the Committee on Ways and Means. H. Rept. 114-19, Part I.
Feb 4, 2015
Ordered to be Reported (Amended) by the Yeas and Nays: 24 - 14.
Feb 2, 2015
Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Feb 2, 2015
Introduced in House
Plain-English summary
Private Foundation Excise Tax Simplification Act of 2015
(Sec. 2) Amends the Internal Revenue Code to: (1) reduce from 2% to 1% 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.
(Sec. 3) Excludes the budgetary effects of this Act from PAYGO scorecards.
What's happening now
Placed on the Union Calendar, Calendar No. 13.
Committees of jurisdiction
2
Cosponsors
1