HR 4035 · 112th Congress · Taxation
Philanthropic Enterprise Act of 2012
Bill Progress
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Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the House Committee on Ways and Means.(2012-02-15)
Plain Language Summary
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Philanthropic Enterprise Act of 2012 - 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, and independent operation (i.e., not controlled by a substantial contributor) from the excise tax on excess business holdings and unrelated business income.…
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (6)
3 Democrats3 Republicans