A bill to simplify the private foundation return and reporting requirements under the Internal Revenue Code, and to make private foundation information returns more readily accessible to the public.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to repeal the requirement that private foundations file annual reports with the Secretary of the Treasury. Requires certain information that is currently included in such reports to be included in the tax returns of foundations and that the returns be made available to the public in the same manner that such reports are currently.…