Bill journey · stage 2 of 5
Under committee review
What it doesSummary reported to house amended, part i (Feb 9, 2015)
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.
What just happenedFeb 9, 2015
Placed on the Union Calendar, Calendar No. 13.
Who’s behind it
Placed on the Union Calendar, Calendar No. 13.
Committee on the Budget discharged.
Committee on the Budget discharged.
Reported (Amended) by the Committee on Ways and Means. H. Rept. 114-19, Part I.
Reported (Amended) by the Committee on Ways and Means. H. Rept. 114-19, Part I.
Ordered to be Reported (Amended) by the Yeas and Nays: 24 - 14.
Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Introduced in House
Introduced in House
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.
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. Excludes the budgetary effects of this Act from PAYGO scorecards.