Philanthropic Enterprise Act of 2014
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (Jul 30, 2014)
Philanthropic Enterprise Act of 2014 - 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), and independent operation (i.e., not controlled by a substantial contributor or family members) from the excise taxes on excess business holdings and unrelated business income.
What just happenedJul 30, 2014
Read twice and referred to the Committee on Finance.
Who’s behind it
- Introduced in SenateJul 30, 2014
- Jul 30, 2014IntroReferral
Read twice and referred to the Committee on Finance.
- Jul 30, 2014IntroReferral10000
Introduced in Senate