A bill to amend the Internal Revenue Code of 1986 to modify the tax rate for excise tax on investment income of private foundations.

3.0.0 4090 2023-01-11T13:17:18Z 2023-01-11T13:17:18Z House H HR 2009-11-17 111 hswm00 Ways and Means Committee House Standing Referred to 2009-11-17T15:31:50Z A bill to amend the Internal Revenue Code of 1986 to modify the tax rate for excise tax on investment income of private foundations. 111 676 S 2009-03-24 Referred to the Committee on Finance. Related bill CRS 2009-11-17 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2009-11-17 Introduced in House IntroReferral Intro-H 9 Library of Congress 2009-11-17 Introduced in House IntroReferral 1000 9 Library of Congress D000096 Rep. Davis, Danny K. [D-IL-7] DANNY DAVIS D IL K. 7 N L000287 Rep. Lewis, John [D-GA-5] JOHN LEWIS D GA 5 2009-11-17 True T000462 Rep. Tiberi, Patrick J. [R-OH-12] PATRICK TIBERI R OH J. 12 2009-11-17 True J000283 Rep. Jackson, Jesse L., Jr. [D-IL-2] JESSE JACKSON D IL L. 2 2009-12-01 False U000031 Rep. Upton, Fred [R-MI-6] FRED UPTON R MI 6 2009-12-07 False Y000033 Rep. Young, Don [R-AK-At Large] DON YOUNG R AK E. 0 2009-12-07 False L000263 Rep. Levin, Sander M. [D-MI-12] SANDER LEVIN D MI M. 12 2009-12-09 False P000595 Rep. Peters, Gary C. [D-MI-9] Gary Peters D MI 9 2009-12-11 False M001151 Rep. Murphy, Tim [R-PA-18] Tim Murphy R PA 18 2010-01-26 False E000226 Rep. Etheridge, Bob [D-NC-2] BOB ETHERIDGE D NC 2 2010-01-26 False S001178 Rep. Schauer, Mark H. [D-MI-7] Mark Schauer D MI H. 7 2010-03-17 False S000749 Rep. Spratt, John M., Jr. [D-SC-5] JOHN SPRATT D SC M. 5 2010-03-18 False B000490 Rep. Bishop, Sanford D., Jr. [D-GA-2] SANFORD BISHOP D GA D. 2 2010-03-18 False J000288 Rep. Johnson, Henry C. "Hank," Jr. [D-GA-4] Henry Johnson D GA C. "Hank" 4 2010-03-22 False R000011 Rep. Rahall, Nick J., II [D-WV-3] NICK RAHALL D WV J. 3 2010-04-14 False E000288 Rep. Ellison, Keith [D-MN-5] Keith Ellison D MN 5 2010-04-14 False K000172 Rep. Kildee, Dale E. [D-MI-5] DALE KILDEE D MI E. 5 2010-04-26 False C001053 Rep. Cole, Tom [R-OK-4] Tom Cole R OK 4 2010-04-26 False G000535 Rep. Gutierrez, Luis V. [D-IL-4] LUIS GUTIERREZ D IL V. 4 2010-05-04 False H001032 Rep. Holt, Rush [D-NJ-12] RUSH HOLT D NJ D. 12 2010-05-19 False D000604 Rep. Dent, Charles W. [R-PA-15] Charles Dent R PA W. 15 2010-09-14 False S001145 Rep. Schakowsky, Janice D. [D-IL-9] JANICE SCHAKOWSKY D IL D. 9 2010-12-14 False Taxation Financial services and investments Sales and excise taxes Tax-exempt organizations Taxation

00 2009-11-17 Introduced in House 2009-12-22T19:08:52Z Amends the Internal Revenue Code to: (1) reduce between 2010 and 2015 the excise tax rate on the net investment income of tax-exempt private foundations from 2 to 1.32%; and (2) suspend between 2010 and 2015 the 1% reduction in such tax rate for private foundations that meet certain distribution requirements.

Directs the Secretary of the Treasury to conduct and submit to Congress by December 31, 2013, a study which examines the effect of the tax rate changes of this Act on the level of grantmaking by private foundations.

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To amend the Internal Revenue Code of 1986 to modify the rate of the excise tax on investment income of private foundations, and for other purposes. Display Title To amend the Internal Revenue Code of 1986 to modify the rate of the excise tax on investment income of private foundations, and for other purposes. Official Title as Introduced To amend the Internal Revenue Code of 1986 to modify the rate of the excise tax on investment income of private foundations, and for other purposes. Introduced in House IH Introduced in House 2009-11-17T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr4090ih/xml/BILLS-111hr4090ih.xml 2009-11-17 Referred to the House Committee on Ways and Means. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.