HR 2386
115th Congress
House
Taxation
Budget process
Financial services and investments
Sales and excise taxes
Tax-exempt organizations
Private Foundation Excise Tax Simplification Act of 2017
Introduced: May 4, 2017
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 4, 2017
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.
May 4, 2017
Introduced in House
Plain-English summary
Private Foundation Excise Tax Simplification Act of 2017
This bill 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. The bill also excludes the budgetary effects of this bill from PAYGO scorecards maintained pursuant to the Statutory Pay-As-You-Go Act of 2010.
What's happening now
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.
Committees of jurisdiction
2