HR 5645 · 113th Congress · Taxation

Philanthropic Enterprise Act of 2014

Introduced 2014-09-18· Sponsored by Rep. Reichert, David G. [R-WA-8]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(2014-09-18)

Plain Language Summary

[AI summary unavailable — showing source text] Philanthropic Enterprise Act of 2014 - Amends the Internal Revenue Code to exempt the holdings of a private foundation in any business enterprise that meets specified requirements relating to exclusive ownership, minimum distribution of net operating income for the charitable purpose, and independent operation (i.e., not controlled by a substantial contributor or family members) from the excise taxes on excess business holdings and unrelated business income.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (5)

2 Democrats3 Republicans
Rep. Larson, John B. [D-CT-1]CT
Rep. Neal, Richard E. [D-MA-1]MA
Rep. Paulsen, Erik [R-MN-3]MN
Rep. Tiberi, Patrick J. [R-OH-12]OH
Rep. Schock, Aaron [R-IL-18]IL