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Private Foundation Excise Tax Simplification Act of 2014
3/14/2024, 12:48 PM
Congressional Summary of HR 4691
Private Foundation Excise Tax Simplification Act of 2014 - 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.
Read the Full Bill
Current Status of Bill HR 4691
Bill HR 4691 is currently in the status of Bill Introduced since May 20, 2014. Bill HR 4691 was introduced during Congress 113 and was introduced to the House on May 20, 2014. Bill HR 4691's most recent activity was Placed on the Union Calendar, Calendar No. 370. as of June 26, 2014
Bipartisan Support of Bill HR 4691
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
2Democrat Cosponsors
1Republican Cosponsors
1Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 4691
Primary Policy Focus
TaxationPotential Impact Areas
- Financial services and investments
- Sales and excise taxes
- Tax-exempt organizations
Alternate Title(s) of Bill HR 4691
Private Foundation Excise Tax Simplification Act of 2014
To amend the Internal Revenue Code of 1986 to modify the tax rate for excise tax on investment income of private foundations.
Private Foundation Excise Tax Simplification Act of 2014
Comments
Sponsors and Cosponsors of HR 4691
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