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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
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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 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
Introduced in House
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.
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 Plain-English summary Congressional Research Service

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 February 9, 2015

Placed on the Union Calendar, Calendar No. 13.

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 Bill text 2 versions

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 2
All 2 Democratic 1
Costello, Ryan
· Feb 3, 2015
 D
Davis, Danny K.
Illinois · Feb 2, 2015
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 640: Private Foundation Excise Tax Simplification Act of 2015. 114th Congress. Open America. https://openamerica.io/bill/114-HR-640/
MLA
"H.R. 640: Private Foundation Excise Tax Simplification Act of 2015." 114th Congress, 2026, Open America, https://openamerica.io/bill/114-HR-640/.
Bluebook (legal)
H.R. 640, 114th Cong. (2026), https://openamerica.io/bill/114-HR-640/.
Markdown link
[H.R. 640: Private Foundation Excise Tax Simplification Act of 2015](https://openamerica.io/bill/114-HR-640/)
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