3.0.0 3732 2023-01-11T13:29:40Z 2023-01-11T13:29:40Z House HR 2015-10-09 114 [Congressional Record Volume 161, Number 149 (Friday, October 9, 2015)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. REICHERT:H.R. 3732.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 H6974]]]> hswm00 Ways and Means Committee House Standing Referred to 2015-10-09T13:01:10Z Philanthropic Enterprise Act of 2015 114 909 S 2015-04-14 Placed on Senate Legislative Calendar under General Orders. Calendar No. 43. Related bill CRS Charities Helping Americans Regularly Throughout the Year Act 114 2750 S 2016-04-06 Read twice and referred to the Committee on Finance. Related bill CRS Philanthropic Enterprise Act of 2016 114 5007 HR 2016-04-20 Referred to the House Committee on Ways and Means. Related bill CRS 2015-10-09 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2015-10-09 Introduced in House IntroReferral Intro-H 9 Library of Congress 2015-10-09 Introduced in House IntroReferral 1000 9 Library of Congress R000578 Rep. Reichert, David G. [R-WA-8] David Reichert R WA G. 8 N L000557 Rep. Larson, John B. [D-CT-1] JOHN LARSON D CT B. 1 2015-10-09 True T000462 Rep. Tiberi, Patrick J. [R-OH-12] PATRICK TIBERI R OH J. 12 2015-10-09 True N000015 Rep. Neal, Richard E. [D-MA-1] RICHARD NEAL D MA E. 1 2015-10-09 True P000594 Rep. Paulsen, Erik [R-MN-3] Erik Paulsen R MN 3 2015-10-09 True Taxation Business investment and capital Sales and excise taxes Social work, volunteer service, charitable organizations Tax-exempt organizations Taxation 00 2015-10-09 Introduced in House 2015-11-13T14:35:13Z Philanthropic Enterprise Act of 2015

This bill 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 for the charitable purpose (all profits to charity distribution requirement), and independent operation (not controlled by a substantial contributor or family members) from the excise taxes on excess business holdings and unrelated business income.

]]> Philanthropic Enterprise Act of 2015 Display Title Philanthropic Enterprise Act of 2015 Official Title as Introduced 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. Introduced in House IH Short Titles as Introduced Philanthropic Enterprise Act of 2015 Introduced in House 2015-10-09T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr3732ih/xml/BILLS-114hr3732ih.xml 2015-10-09 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.