HR 704 · 93th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954 to provide that the 4-percent excise tax on the net investment income of a private foundation shall not apply to a private foundation organized and operated exclusively as a library or museum.

Introduced 1973-01-03· Sponsored by Rep. Koch, Edward I. [D-NY-18]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1973-01-03)

Plain Language Summary

[AI summary unavailable — showing source text] Provides, under the Internal Revenue Code, that the 4 percent excise tax on the net investment income of a private foundation shall not apply to a private foundation organized and operated exclusively as a library or museum. (Amends 26 U.S.C. 4940)…

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