3.0.0 909 2021-07-10T19:57:53Z 2022-11-04T13:28:08Z Senate S 2015-04-14 114 ssfi00 Finance Committee Senate Standing Reported original measure 2015-04-14T14:42:08Z S. Rept. 114-20 Philanthropic Enterprise Act of 2015 114 3732 HR 2015-10-09 Referred to the House Committee on Ways and Means. 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 2015-04-14 Senate Placed on Senate Legislative Calendar under General Orders. Calendar No. 43. Calendars 2015-04-14 ssfi00 Finance Committee Senate Committee on Finance. Original measure reported to Senate by Senator Hatch. With written report No. 114-20. Committee 2015-04-14 Committee on Finance. Original measure reported to Senate by Senator Hatch. With written report No. 114-20. Committee 14000 9 Library of Congress ssfi00 Finance Committee 2015-04-14 Introduced in Senate IntroReferral 10000 9 Library of Congress H000338 Sen. Hatch, Orrin G. [R-UT] ORRIN HATCH R UT GRANT N Taxation Business investment and capital Sales and excise taxes Social work, volunteer service, charitable organizations Tax-exempt organizations Taxation 00 2015-04-14 Introduced in Senate 2015-04-21T21:04:23Z Philanthropic Enterprise Act of 2015

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), and independent operation (i.e., not controlled by a substantial contributor or family members) from the excise tax on excess business holdings.

]]> 80 2015-04-14 Reported to Senate without amendment 2015-05-20T18:12:44Z (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

Philanthropic Enterprise Act of 2015

(Sec. 2) 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), and independent operation (i.e., not controlled by a substantial contributor or family members) from the excise tax on excess business holdings, in taxable years beginning after 2014. Makes such exemption inapplicable to donor advised funds or supporting organizations that are subject to excess business holdings rules and certain charitable and split interest trusts.

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Philanthropic Enterprise Act of 2015 Short Titles as Introduced Philanthropic Enterprise Act of 2015 Short Titles as Reported to Senate Philanthropic Enterprise Act of 2015 S Senate Display Title Philanthropic Enterprise Act of 2015 Official Title as Introduced An original bill 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. Placed on Calendar Senate 2015-04-14T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114s909pcs/xml/BILLS-114s909pcs.xml 2015-04-14 Placed on Senate Legislative Calendar under General Orders. Calendar No. 43. 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.