S. 3332
Referred to CommitteeLIFT for Charities Act
Latest Action
Read twice and referred to the Committee on Finance.
8/1/2018 • Senate
Summary
Lessen Impediments From Taxes for Charities Act or the LIFT for Charities Act
This bill amends the Internal Revenue Code to modify the requirements for determining the unrelated business taxable income of tax-exempt organizations. The bill repeals a provision that requires unrelated business taxable income to be increased by the amount of expenses paid or incurred by a tax-exempt organization for certain fringe benefits for which a tax deduction is not allowed, including benefits relating to transportation, parking, or an on-premises athletic facility.
Introduced in Senate • 8/1/2018
Topics & Subjects
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Related Federal Spending
Sponsor & Cosponsors (4)
Party Breakdown
Sponsor
Cosponsors (3)
Bill Journey
Originated in the Senate
Introduced
August 1, 2018
Read twice and referred to the Committee on Finance.
Committee Review
Floor Debate
Passed Chamber
Other Chamber
President
Enacted into Law