Philanthropic Enterprise Act of 2016
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Apr 20, 2016)
Philanthropic Enterprise Act of 2016
This bill amends the Internal Revenue Code to exempt the holdings of a private foundation in any business enterprise that meet 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.
What just happenedApr 20, 2016
Referred to the House Committee on Ways and Means.
Who’s behind it
- Introduced in HouseApr 20, 2016
- Apr 20, 2016IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Apr 20, 2016IntroReferralIntro-H
Introduced in House
- Apr 20, 2016IntroReferral1000
Introduced in House