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    <number>4035</number>
    <updateDate>2019-11-15T21:46:48Z</updateDate>
    <updateDateIncludingText>2019-11-15T21:46:48Z</updateDateIncludingText>
    <originChamber>House</originChamber>
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    <type>HR</type>
    <introducedDate>2012-02-15</introducedDate>
    <congress>112</congress>
    <constitutionalAuthorityStatementText><![CDATA[<pre>From the Congressional Record Online through the Government Publishing Office [<a href='http://www.gpo.gov'>www.gpo.gov</a>]By Mr. REICHERT:H.R. 4035.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 1: The Congress shall havePower to lay and collect Taxes, Duties, Imposts and Excises,to pay the Debts and provide for the common Defence andgeneral Welfare of the United States; but all Duties, Impostsand Excises shall be uniform throughout the United States.[Page H802]</pre>]]></constitutionalAuthorityStatementText>
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        <title>Philanthropic Enterprise Act of 2012</title>
        <congress>112</congress>
        <number>3377</number>
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        <latestAction>
          <actionDate>2012-07-12</actionDate>
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        <fullName>Rep. Reichert, David G. [R-WA-8]</fullName>
        <firstName>David</firstName>
        <lastName>Reichert</lastName>
        <party>R</party>
        <state>WA</state>
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        <fullName>Rep. Larson, John B. [D-CT-1]</fullName>
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        <state>CT</state>
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        <sponsorshipDate>2012-02-15</sponsorshipDate>
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        <bioguideId>G000549</bioguideId>
        <fullName>Rep. Gerlach, Jim [R-PA-6]</fullName>
        <firstName>Jim</firstName>
        <lastName>Gerlach</lastName>
        <party>R</party>
        <state>PA</state>
        <district>6</district>
        <sponsorshipDate>2012-02-28</sponsorshipDate>
        <isOriginalCosponsor>False</isOriginalCosponsor>
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        <fullName>Rep. Paulsen, Erik [R-MN-3]</fullName>
        <firstName>Erik</firstName>
        <lastName>Paulsen</lastName>
        <party>R</party>
        <state>MN</state>
        <district>3</district>
        <sponsorshipDate>2012-03-29</sponsorshipDate>
        <isOriginalCosponsor>False</isOriginalCosponsor>
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        <fullName>Rep. Neal, Richard E. [D-MA-2]</fullName>
        <firstName>RICHARD</firstName>
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        <party>D</party>
        <state>MA</state>
        <middleName>E.</middleName>
        <district>2</district>
        <sponsorshipDate>2012-03-29</sponsorshipDate>
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        <fullName>Rep. Schock, Aaron [R-IL-18]</fullName>
        <firstName>Aaron</firstName>
        <lastName>Schock</lastName>
        <party>R</party>
        <state>IL</state>
        <district>18</district>
        <sponsorshipDate>2012-07-09</sponsorshipDate>
        <isOriginalCosponsor>False</isOriginalCosponsor>
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      <item>
        <bioguideId>P000096</bioguideId>
        <fullName>Rep. Pascrell, Bill, Jr. [D-NJ-8]</fullName>
        <firstName>WILLIAM</firstName>
        <lastName>PASCRELL</lastName>
        <party>D</party>
        <state>NJ</state>
        <middleName>J.</middleName>
        <district>8</district>
        <sponsorshipDate>2012-07-11</sponsorshipDate>
        <isOriginalCosponsor>False</isOriginalCosponsor>
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      <name>Taxation</name>
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    <subjects>
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          <name>Business investment and capital</name>
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          <name>Sales and excise taxes</name>
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          <name>Social work, volunteer service, charitable organizations</name>
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    <summaries>
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        <actionDate>2012-02-15</actionDate>
        <actionDesc>Introduced in House</actionDesc>
        <updateDate>2012-04-02T14:42:04Z</updateDate>
        <text><![CDATA[ <p>Philanthropic Enterprise Act of 2012 - 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, and independent operation (i.e., not controlled by a substantial contributor) from the excise tax on excess business holdings and unrelated business income.</p>]]></text>
      </summary>
    </summaries>
    <title>Philanthropic Enterprise Act of 2012</title>
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        <titleType>Short Titles as Introduced</titleType>
        <title>Philanthropic Enterprise Act of 2012</title>
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        <titleType>Display Title</titleType>
        <title>Philanthropic Enterprise Act of 2012</title>
      </item>
      <item>
        <titleType>Official Title as Introduced</titleType>
        <title>To amend the Internal Revenue Code of 1986 to exempt private foundations from the tax on excess business holdings in the case of certain philanthropic enterprises which are independently supervised, and for other purposes.</title>
      </item>
    </titles>
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        <type>Introduced in House</type>
        <date>2012-02-15T05:00:00Z</date>
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            <url>https://www.govinfo.gov/content/pkg/BILLS-112hr4035ih/xml/BILLS-112hr4035ih.xml</url>
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    <latestAction>
      <actionDate>2012-02-15</actionDate>
      <text>Referred to the House Committee on Ways and Means.</text>
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    <dc:language>EN</dc:language>
    <dc:rights>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.</dc:rights>
    <dc:contributor>Congressional Research Service, Library of Congress</dc:contributor>
    <dc:description>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.</dc:description>
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