H.R. 2386 · 115th Congress
Private Foundation Excise Tax Simplification Act of 2017
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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
PaulsenSponsor11 cosponsors · 3 D, 8 R
D
Davis
GH
R
Holding
RN
D
Nolan
PT
R
Tiberi
PM
R
Meehan
KM
R
Marchant
TR
R
Rice
JW
R
Walorski
MB
R
Bishop
CP
D
Peterson
PS
R
Sessions4 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
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.
What it does: CRS summary · Introduced in House · May 4, 2017
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Private Foundation Excise Tax Simplification Act of 2017
Latest action (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.
Policy area: Taxation · Origin: House · Introduced: May 4, 2017
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.