H.R. 3035 · 115th Congress
Philanthropic Enterprise 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.
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ReichertSponsor19 cosponsors · 9 D, 10 R
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Calvert
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Esty
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Frelinghuysen
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Higgins
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Holding
LJ
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Jenkins
MK
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Kelly
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Larson
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Paulsen
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Rice
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Smith
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Tiberi
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Courtney
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Himes
BP
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Pascrell
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McGovern
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Lance
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Dingell
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Titus12 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
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…
What it does: CRS summary · Introduced in House · Jun 23, 2017
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Philanthropic Enterprise Act of 2017
Latest action (Jun 23, 2017): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Jun 23, 2017
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.