H.R. 640
IntroducedPrivate Foundation Excise Tax Simplification Act of 2015
Latest Action
Placed on the Union Calendar, Calendar No. 13.
2/9/2015 • House
Summary
Private Foundation Excise Tax Simplification Act of 2015
(Sec. 2) 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.
(Sec. 3) Excludes the budgetary effects of this Act from PAYGO scorecards.
Reported to House amended, Part I • 2/9/2015
Topics & Subjects
CBO Cost Estimates (1)
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Related Federal Spending
Sponsor & Cosponsors (4)
Party Breakdown
Sponsor
Cosponsors (3)
Bill Journey
Originated in the House
Introduced
February 2, 2015
Committee Review
February 4, 2015
Ordered to be Reported (Amended) by the Yeas and Nays: 24 - 14.
Floor Debate
Passed Chamber
Other Chamber
President
Enacted into Law