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    <number>593</number>
    <updateDate>2019-02-20T23:01:26Z</updateDate>
    <updateDateIncludingText>2019-02-23T20:37:21Z</updateDateIncludingText>
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    <originChamberCode>S</originChamberCode>
    <type>S</type>
    <introducedDate>2011-03-16</introducedDate>
    <congress>112</congress>
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        <name>Finance Committee</name>
        <chamber>Senate</chamber>
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            <date>2011-03-16T16:02:05Z</date>
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        <title>To amend the Internal Revenue Code of 1986 to modify the tax rate for excise tax on investment income of private foundations.</title>
        <congress>112</congress>
        <number>2311</number>
        <type>HR</type>
        <latestAction>
          <actionDate>2011-06-23</actionDate>
          <text>Referred to the House Committee on Ways and Means.</text>
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        <actionDate>2011-03-16</actionDate>
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        <text>Read twice and referred to the Committee on Finance.</text>
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        <actionDate>2011-03-16</actionDate>
        <text>Introduced in Senate</text>
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        <actionCode>10000</actionCode>
        <sourceSystem>
          <code>9</code>
          <name>Library of Congress</name>
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    <sponsors>
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        <bioguideId>S000148</bioguideId>
        <fullName>Sen. Schumer, Charles E. [D-NY]</fullName>
        <firstName>Charles</firstName>
        <lastName>Schumer</lastName>
        <party>D</party>
        <state>NY</state>
        <middleName>E.</middleName>
        <isByRequest>N</isByRequest>
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        <bioguideId>B001135</bioguideId>
        <fullName>Sen. Burr, Richard [R-NC]</fullName>
        <firstName>Richard</firstName>
        <lastName>Burr</lastName>
        <party>R</party>
        <state>NC</state>
        <middleName>Mauze</middleName>
        <sponsorshipDate>2011-03-16</sponsorshipDate>
        <isOriginalCosponsor>True</isOriginalCosponsor>
      </item>
      <item>
        <bioguideId>S000770</bioguideId>
        <fullName>Sen. Stabenow, Debbie [D-MI]</fullName>
        <firstName>Debbie</firstName>
        <lastName>Stabenow</lastName>
        <party>D</party>
        <state>MI</state>
        <sponsorshipDate>2011-03-16</sponsorshipDate>
        <isOriginalCosponsor>True</isOriginalCosponsor>
      </item>
      <item>
        <bioguideId>I000055</bioguideId>
        <fullName>Sen. Isakson, Johnny [R-GA]</fullName>
        <firstName>Johnny</firstName>
        <lastName>Isakson</lastName>
        <party>R</party>
        <state>GA</state>
        <sponsorshipDate>2011-03-16</sponsorshipDate>
        <isOriginalCosponsor>True</isOriginalCosponsor>
      </item>
      <item>
        <bioguideId>L000261</bioguideId>
        <fullName>Sen. Levin, Carl [D-MI]</fullName>
        <firstName>CARL</firstName>
        <lastName>LEVIN</lastName>
        <party>D</party>
        <state>MI</state>
        <middleName>MILTON</middleName>
        <sponsorshipDate>2011-03-16</sponsorshipDate>
        <isOriginalCosponsor>True</isOriginalCosponsor>
      </item>
      <item>
        <bioguideId>C000286</bioguideId>
        <fullName>Sen. Chambliss, Saxby [R-GA]</fullName>
        <firstName>SAXBY</firstName>
        <lastName>CHAMBLISS</lastName>
        <party>R</party>
        <state>GA</state>
        <sponsorshipDate>2011-03-16</sponsorshipDate>
        <isOriginalCosponsor>True</isOriginalCosponsor>
      </item>
      <item>
        <bioguideId>B001265</bioguideId>
        <fullName>Sen. Begich, Mark [D-AK]</fullName>
        <firstName>Mark</firstName>
        <lastName>Begich</lastName>
        <party>D</party>
        <state>AK</state>
        <sponsorshipDate>2011-03-16</sponsorshipDate>
        <isOriginalCosponsor>True</isOriginalCosponsor>
      </item>
      <item>
        <bioguideId>M001153</bioguideId>
        <fullName>Sen. Murkowski, Lisa [R-AK]</fullName>
        <firstName>Lisa</firstName>
        <lastName>Murkowski</lastName>
        <party>R</party>
        <state>AK</state>
        <sponsorshipDate>2011-03-16</sponsorshipDate>
        <isOriginalCosponsor>True</isOriginalCosponsor>
      </item>
      <item>
        <bioguideId>G000555</bioguideId>
        <fullName>Sen. Gillibrand, Kirsten E. [D-NY]</fullName>
        <firstName>Kirsten</firstName>
        <lastName>Gillibrand</lastName>
        <party>D</party>
        <state>NY</state>
        <middleName>E.</middleName>
        <sponsorshipDate>2011-03-16</sponsorshipDate>
        <isOriginalCosponsor>True</isOriginalCosponsor>
      </item>
      <item>
        <bioguideId>I000025</bioguideId>
        <fullName>Sen. Inouye, Daniel K. [D-HI]</fullName>
        <firstName>DANIEL</firstName>
        <lastName>INOUYE</lastName>
        <party>D</party>
        <state>HI</state>
        <middleName>KEN</middleName>
        <sponsorshipDate>2011-03-16</sponsorshipDate>
        <isOriginalCosponsor>True</isOriginalCosponsor>
      </item>
      <item>
        <bioguideId>H001049</bioguideId>
        <fullName>Sen. Hagan, Kay R. [D-NC]</fullName>
        <firstName>Kay</firstName>
        <lastName>Hagan</lastName>
        <party>D</party>
        <state>NC</state>
        <middleName>R.</middleName>
        <sponsorshipDate>2011-03-16</sponsorshipDate>
        <isOriginalCosponsor>True</isOriginalCosponsor>
      </item>
      <item>
        <bioguideId>S000663</bioguideId>
        <fullName>Sen. Snowe, Olympia J. [R-ME]</fullName>
        <firstName>Olympia</firstName>
        <lastName>Snowe</lastName>
        <party>R</party>
        <state>ME</state>
        <middleName>J.</middleName>
        <sponsorshipDate>2011-03-16</sponsorshipDate>
        <isOriginalCosponsor>True</isOriginalCosponsor>
      </item>
      <item>
        <bioguideId>C000880</bioguideId>
        <fullName>Sen. Crapo, Mike [R-ID]</fullName>
        <firstName>Mike</firstName>
        <lastName>Crapo</lastName>
        <party>R</party>
        <state>ID</state>
        <sponsorshipDate>2011-03-29</sponsorshipDate>
        <isOriginalCosponsor>False</isOriginalCosponsor>
      </item>
      <item>
        <bioguideId>F000457</bioguideId>
        <fullName>Sen. Franken, Al [D-MN]</fullName>
        <firstName>Al</firstName>
        <lastName>Franken</lastName>
        <party>D</party>
        <state>MN</state>
        <sponsorshipDate>2011-05-04</sponsorshipDate>
        <isOriginalCosponsor>False</isOriginalCosponsor>
      </item>
      <item>
        <bioguideId>M001183</bioguideId>
        <fullName>Sen. Manchin, Joe, III [D-WV]</fullName>
        <firstName>Joseph</firstName>
        <lastName>Manchin</lastName>
        <party>D</party>
        <state>WV</state>
        <sponsorshipDate>2012-01-30</sponsorshipDate>
        <isOriginalCosponsor>False</isOriginalCosponsor>
      </item>
      <item>
        <bioguideId>R000361</bioguideId>
        <fullName>Sen. Rockefeller, John D., IV [D-WV]</fullName>
        <firstName>JAY</firstName>
        <lastName>ROCKEFELLER</lastName>
        <party>D</party>
        <state>WV</state>
        <sponsorshipDate>2012-03-01</sponsorshipDate>
        <isOriginalCosponsor>False</isOriginalCosponsor>
      </item>
    </cosponsors>
    <policyArea>
      <name>Taxation</name>
    </policyArea>
    <subjects>
      <legislativeSubjects>
        <item>
          <name>Financial services and investments</name>
        </item>
        <item>
          <name>Sales and excise taxes</name>
        </item>
        <item>
          <name>Tax-exempt organizations</name>
        </item>
      </legislativeSubjects>
      <policyArea>
        <name>Taxation</name>
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    <summaries>
      <summary>
        <versionCode>00</versionCode>
        <actionDate>2011-03-16</actionDate>
        <actionDesc>Introduced in Senate</actionDesc>
        <updateDate>2011-04-26T12:59:41Z</updateDate>
        <text><![CDATA[ <p>Amends the Internal Revenue Code to: (1) reduce from 2% to 1.39% 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.</p>]]></text>
      </summary>
    </summaries>
    <title>A bill to amend the Internal Revenue Code of 1986 to modify the tax rate for excise tax on investment income of private foundations.</title>
    <titles>
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        <titleType>Display Title</titleType>
        <title>A bill to amend the Internal Revenue Code of 1986 to modify the tax rate for excise tax on investment income of private foundations.</title>
      </item>
      <item>
        <titleType>Official Title as Introduced</titleType>
        <title>A bill to amend the Internal Revenue Code of 1986 to modify the tax rate for excise tax on investment income of private foundations.</title>
      </item>
    </titles>
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        <type>Introduced in Senate</type>
        <date>2011-03-16T04:00:00Z</date>
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            <url>https://www.govinfo.gov/content/pkg/BILLS-112s593is/xml/BILLS-112s593is.xml</url>
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    <latestAction>
      <actionDate>2011-03-16</actionDate>
      <text>Read twice and referred to the Committee on Finance.</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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