HR 640 · 114th Congress · Taxation

Private Foundation Excise Tax Simplification Act of 2015

Introduced 2015-02-02· Sponsored by Rep. Paulsen, Erik [R-MN-3]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Placed on the Union Calendar, Calendar No. 13.(2015-02-09)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to: (1) reduce from 2% to 1% the excise tax rate on the net investment income of tax-exempt private foundations, and (2) repeal the 1% reduction in such tax rate for private foundations that meet certain distribution requirements. Excludes the budgetary effects of this Act from PAYGO scorecards.…

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

CBO Cost Estimate

Congressional Budget Office

H.R. 640, Private Foundation Excise Tax Simplification Act of 2015

Feb 6, 2015

As ordered reported by the House Committee on Ways and Means on February 4, 2015

Full CBO report ↗

Official non-partisan budget analysis by the Congressional Budget Office

Cosponsors (3)

1 Democrat2 Republicans
Rep. Davis, Danny K. [D-IL-7]IL
Rep. Reed, Tom [R-NY-23]NY
Rep. Costello, Ryan A. [R-PA-6]PA