H.R. 2311 · 112th Congress
To amend the Internal Revenue Code of 1986 to modify the tax rate for excise tax on investment income of…
Full title
To amend the Internal Revenue Code of 1986 to modify the tax rate for excise tax on investment income of private foundations.
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Never voted on. It didn't reach a floor vote before the 112th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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PaulsenSponsor13 cosponsors · 9 D, 4 R
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Davis
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Dent
RH
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Holt
JS
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Speier
DK
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Kildee
SJ
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Jackson Lee
MQ
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Quigley
DR
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Ross
MH
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Hinchey
TL
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Latham
GP
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Peters
CP
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Peterson
DY
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Young1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Amends the Internal Revenue Code to: (1) reduce from 2% to 1.39% 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.
What it does: CRS summary · Introduced in House · Jun 23, 2011
Amends the Internal Revenue Code to: (1) reduce from 2% to 1.39% 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.
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 tax rate for excise tax on investment income of private foundations.
Latest action (Jun 23, 2011): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Jun 23, 2011
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.