S. 501
Referred to CommitteeStop the Tax Hike on Charities and Places of Worship Act
Latest Action
Read twice and referred to the Committee on Finance.
2/14/2019 • Senate
Summary
Stop the Tax Hike on Charities and Places of Worship Act
This bill modifies 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.
The bill also increases the corporate income tax rate from 21% to 22%.
Introduced in Senate • 2/14/2019
Topics & Subjects
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Sponsor
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Bill Journey
Originated in the Senate
Introduced
February 14, 2019
Read twice and referred to the Committee on Finance.
Committee Review
Floor Debate
Passed Chamber
Other Chamber
President
Enacted into Law
Text Versions (1)
Related Bills (5)
H.R. 513
Nonprofits Support Act
H.R. 1545
To amend the Internal Revenue Code of 1986 to repeal the inclusion of certain fringe benefit expenses for which a deduction is disallowed in unrelated business taxable income.
S. 632
LIFT for Charities Act
S. 1282
Preserve Charities and Houses of Worship Act
H.R. 1223
Stop the Tax Hike on Charities and Places of Worship Act