S. 1514 · 108th Congress
Philanthropy Expansion and Responsibility Act of 2003
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Never voted on. It didn't reach a floor vote before the 108th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
HutchisonSponsorNo cosponsors.
Philanthropy Expansion and Responsibility Act of 2003 - Amends the Internal Revenue Code to reduce from two to one percent the excise tax on the net investment income of private foundations that are exempt from Federal income tax.
What it does: CRS summary · Introduced in Senate · Jul 31, 2003
Philanthropy Expansion and Responsibility Act of 2003 - Amends the Internal Revenue Code to reduce from two to one percent the excise tax on the net investment income of private foundations that are exempt from Federal income tax.
Increases the self-dealing excise tax on such foundations from five to 25 percent.
Modifies provisions concerning the excise tax for the failure of such foundations to distribute income.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Philanthropy Expansion and Responsibility Act of 2003
Latest action (Jul 31, 2003): Read twice and referred to the Committee on Finance. (text of measure as introduced: CR 8/1/2003 S10636)
Policy area: Taxation · Origin: Senate · Introduced: Jul 31, 2003
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.