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    <number>4691</number>
    <updateDate>2023-01-11T13:26:17Z</updateDate>
    <updateDateIncludingText>2023-01-11T13:26:17Z</updateDateIncludingText>
    <originChamber>House</originChamber>
    <originChamberCode>H</originChamberCode>
    <type>HR</type>
    <introducedDate>2014-05-20</introducedDate>
    <congress>113</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. PAULSEN:H.R. 4691.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8, Clause 1 of the United StatesConstitution.[Page H4685]</pre>]]></constitutionalAuthorityStatementText>
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        <citation>H. Rept. 113-497</citation>
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        <text>Placed on the Union Calendar, Calendar No. 370.</text>
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        <text>Reported (Amended) by the Committee on Ways and Means. H. Rept. 113-497.</text>
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        <text>Reported (Amended) by the Committee on Ways and Means. H. Rept. 113-497.</text>
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        <text>Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 23 - 10.</text>
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        <text>Referred to the House Committee on Ways and Means.</text>
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    <sponsors>
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        <bioguideId>P000594</bioguideId>
        <fullName>Rep. Paulsen, Erik [R-MN-3]</fullName>
        <firstName>Erik</firstName>
        <lastName>Paulsen</lastName>
        <party>R</party>
        <state>MN</state>
        <district>3</district>
        <isByRequest>N</isByRequest>
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    </sponsors>
    <cosponsors>
      <item>
        <bioguideId>D000096</bioguideId>
        <fullName>Rep. Davis, Danny K. [D-IL-7]</fullName>
        <firstName>DANNY</firstName>
        <lastName>DAVIS</lastName>
        <party>D</party>
        <state>IL</state>
        <middleName>K.</middleName>
        <district>7</district>
        <sponsorshipDate>2014-05-20</sponsorshipDate>
        <isOriginalCosponsor>True</isOriginalCosponsor>
      </item>
      <item>
        <bioguideId>R000585</bioguideId>
        <fullName>Rep. Reed, Tom [R-NY-23]</fullName>
        <firstName>Tom</firstName>
        <lastName>Reed</lastName>
        <party>R</party>
        <state>NY</state>
        <district>23</district>
        <sponsorshipDate>2014-05-28</sponsorshipDate>
        <isOriginalCosponsor>False</isOriginalCosponsor>
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    <policyArea>
      <name>Taxation</name>
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    <subjects>
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          <name>Financial services and investments</name>
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          <name>Sales and excise taxes</name>
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          <name>Tax-exempt organizations</name>
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        <name>Taxation</name>
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    <summaries>
      <summary>
        <versionCode>00</versionCode>
        <actionDate>2014-05-20</actionDate>
        <actionDesc>Introduced in House</actionDesc>
        <updateDate>2014-06-03T19:41:03Z</updateDate>
        <text><![CDATA[ <p>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.</p>]]></text>
      </summary>
      <summary>
        <versionCode>17</versionCode>
        <actionDate>2014-06-26</actionDate>
        <actionDesc>Reported to House with amendment(s)</actionDesc>
        <updateDate>2014-08-28T17:47:18Z</updateDate>
        <text><![CDATA[ <p>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.</p>]]></text>
      </summary>
    </summaries>
    <title>Private Foundation Excise Tax Simplification Act of 2014</title>
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        <titleType>Display Title</titleType>
        <title>Private Foundation Excise Tax Simplification Act of 2014</title>
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        <titleType>Official Title as Introduced</titleType>
        <title>To amend the Internal Revenue Code of 1986 to modify the tax rate for excise tax on investment income of private foundations.</title>
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      </item>
      <item>
        <titleType>Short Titles as Reported to House</titleType>
        <title>Private Foundation Excise Tax Simplification Act of 2014</title>
        <chamberCode>H</chamberCode>
        <chamberName>House</chamberName>
      </item>
    </titles>
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        <type>Reported in House</type>
        <date>2014-06-26T04:00:00Z</date>
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            <url>https://www.govinfo.gov/content/pkg/BILLS-113hr4691rh/xml/BILLS-113hr4691rh.xml</url>
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        <type>Introduced in House</type>
        <date>2014-05-20T04:00:00Z</date>
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            <url>https://www.govinfo.gov/content/pkg/BILLS-113hr4691ih/xml/BILLS-113hr4691ih.xml</url>
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    <latestAction>
      <actionDate>2014-06-26</actionDate>
      <text>Placed on the Union Calendar, Calendar No. 370.</text>
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    <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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