H.R. 4090 · 111th Congress
To amend the Internal Revenue Code of 1986 to modify the rate of the excise tax on investment income of…
Full title
To amend the Internal Revenue Code of 1986 to modify the rate of the excise tax on investment income of private foundations, and for other purposes.
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
DavisSponsor21 cosponsors · 15 D, 6 R
D
Lewis
PT
R
Tiberi
JJ
D
Jackson
FU
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Upton
DY
R
Young
SL
D
Levin
GP
D
Peters
BE
D
Etheridge
TM
R
Murphy
MS
D
Schauer
SB
D
Bishop
JS
D
Spratt
HJ
D
Johnson
KE
D
Ellison
NR
D
Rahall
TC
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Cole
DK
D
Kildee
LG
D
Gutiérrez
RH
D
Holt
CD
R
Dent
JS
D
Schakowsky2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Amends the Internal Revenue Code to: (1) reduce between 2010 and 2015 the excise tax rate on the net investment income of tax-exempt private foundations from 2 to 1.32%; and (2) suspend between 2010 and 2015 the 1% reduction in such tax rate for private foundations that meet certain distribution requirements.
What it does: CRS summary · Introduced in House · Nov 17, 2009
Amends the Internal Revenue Code to: (1) reduce between 2010 and 2015 the excise tax rate on the net investment income of tax-exempt private foundations from 2 to 1.32%; and (2) suspend between 2010 and 2015 the 1% reduction in such tax rate for private foundations that meet certain distribution requirements.
Directs the Secretary of the Treasury to conduct and submit to Congress by December 31, 2013, a study which examines the effect of the tax rate changes of this Act on the level of grantmaking by private foundations.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To amend the Internal Revenue Code of 1986 to modify the rate of the excise tax on investment income of private foundations, and for other purposes.
Latest action (Nov 17, 2009): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Nov 17, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.