Philanthropic Enterprise Act of 2017
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Jun 23, 2017)
Philanthropic Enterprise Act of 2017
This bill amends the Internal Revenue Code to exempt the holdings of a private foundation in any business enterprise that meets 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 happenedJun 23, 2017
Referred to the House Committee on Ways and Means.
Who’s behind it
- Introduced in HouseJun 23, 2017
- Jun 23, 2017IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Jun 23, 2017IntroReferralIntro-H
Introduced in House
- Jun 23, 2017IntroReferral1000
Introduced in House