Private Foundation Excise Tax Simplification Act of 2014

Hozzl · 2024-03-14T12:48:48Z

Explore the details of House Bill 4691 Private Foundation Excise Tax Simplification Act of 2014 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

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

Formatted Text PDF Formatted XML

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

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 4691

Primary Policy Focus

Taxation

Potential Impact Areas

Financial services and investmentsSales and excise taxesTax-exempt organizations

Alternate Title(s) of Bill HR 4691

Private Foundation Excise Tax Simplification Act of 2014To 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

Start holding our government accountable!