3.0.0 2756 2022-11-01T04:47:41Z 2022-11-01T04:47:41Z Senate S 2019-10-31 116 ssfi00 Finance Committee Senate Standing Referred to 2019-10-31T15:09:02Z 2019-10-31 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2019-10-31 Introduced in Senate IntroReferral 10000 9 Library of Congress G000562 Sen. Gardner, Cory [R-CO] Cory Gardner R CO N P000595 Sen. Peters, Gary C. [D-MI] Gary Peters D MI 2019-10-31 True Taxation Administrative remedies Business investment and capital Business records Department of the Treasury Government information and archives Income tax deductions Internal Revenue Service (IRS) Judicial review and appeals Sales and excise taxes Social work, volunteer service, charitable organizations Tax administration and collection, taxpayers Tax-exempt organizations Taxation 00 2019-10-31 Introduced in Senate 2019-12-02T14:27:23Z Philanthropic Facilitation Act

This bill amends the Internal Revenue Code to (1) expand the definition of, and requirements relating to, "program-related investments" made by private foundations to for-profit entities to further certain charitable purposes; (2) allow a judicial determination (i.e., declaratory judgment) as to whether investments in any entity qualify as program-related investments; (3) require expanded reporting by for-profit entities that receive program-related investments of their gross income, expenses, disbursements, and other information; and (4) allow public inspection of any petition seeking a determination that an investment by a private foundation is a program-related investment and of any information reported by organizations receiving program-related investments.

]]> Philanthropic Facilitation Act Display Title Philanthropic Facilitation Act Short Title(s) as Introduced Philanthropic Facilitation Act Introduced in Senate IS Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to facilitate program-related investments by private foundations. Introduced in Senate IS Introduced in Senate 2019-10-31T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116s2756is/xml/BILLS-116s2756is.xml 2019-10-31 Read twice and referred to the Committee on Finance. 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.