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H.R. 3035 115th Congress House

Philanthropic Enterprise Act of 2017

Official title: To amend the Internal Revenue Code of 1986 to exempt private foundations from the tax on excess business holdings in the case of certain philanthropic enterpri… Show full official titleShow less

Official title: To amend the Internal Revenue Code of 1986 to exempt private foundations from the tax on excess business holdings in the case of certain philanthropic enterprises which are independently supervised, and for other purposes.

Introduced: September 14, 2017 See on congress.gov
Taxation Business investment and capitalSales and excise taxesSocial work, volunteer service, charitable organizationsTax-exempt organizations
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This bill died when the 115th Congress ended
It never became law before the 115th Congress (2017–2018) 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
Jun 23, 2017
Referred to the House Committee on Ways and Means.
Jun 23, 2017
Introduced in House
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 Latest action June 23, 2017

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service

Philanthropic Enterprise Act of 2017

This bill amends the Internal Revenue Code to exempt the holdings of a private foundation in any business enterprise that meets 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.

 Related & companion bills 3
  • S 1343 Charities Helping Americans Regularly Throughout the Year Act of 2017
  • S 1 An original bill to provide for reconciliation pursuant to title II of the concurrent resolution on the budget for fisc…
  • HR 1 Tax Cuts and Jobs Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 17
All 17 Democratic 6 Republican 3
D
Titus, Dina
Nevada · Oct 26, 2017
 D
Dingell, Debbie
Michigan · Sep 14, 2017
Lance, Leonard
· Sep 13, 2017
 D
McGovern, James P.
Massachusetts · Sep 8, 2017
 D
Courtney, Joe
Connecticut · Jul 25, 2017
 D
Himes, James A.
Connecticut · Jul 25, 2017
 R
Calvert, Ken
California · Jun 23, 2017
Esty, Elizabeth
· Jun 23, 2017
FRELINGHUYSEN, RODNEY
· Jun 23, 2017
Holding, George
· Jun 23, 2017
Jenkins, Lynn
· Jun 23, 2017
 R
Kelly, Mike
Pennsylvania · Jun 23, 2017
 D
Larson, John B.
Connecticut · Jun 23, 2017
Paulsen, Erik
· Jun 23, 2017
Rice, Tom
· Jun 23, 2017
 R
Smith, Jason
Missouri · Jun 23, 2017
TIBERI, PATRICK
· Jun 23, 2017
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 3035: Philanthropic Enterprise Act of 2017. 115th Congress. Open America. https://openamerica.io/bill/115-HR-3035/
MLA
"H.R. 3035: Philanthropic Enterprise Act of 2017." 115th Congress, 2026, Open America, https://openamerica.io/bill/115-HR-3035/.
Bluebook (legal)
H.R. 3035, 115th Cong. (2026), https://openamerica.io/bill/115-HR-3035/.
Markdown link
[H.R. 3035: Philanthropic Enterprise Act of 2017](https://openamerica.io/bill/115-HR-3035/)
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