S 3377 · 112th Congress · Taxation

Philanthropic Enterprise Act of 2012

Introduced 2012-07-12· Sponsored by Sen. Lieberman, Joseph I. [ID-CT]· Senate

Bill Progress

✓
Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Read twice and referred to the Committee on Finance.(2012-07-12)

Plain Language Summary

[AI summary unavailable — showing source text] 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 (1)

1 Republican
Sen. Snowe, Olympia J. [R-ME]ME