A bill to amend section 4941 of the Internal Revenue Code of 1954, and section 101(1)(2) of the Tax Reform Act of 1969.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to exempt in certain circumstances, the leasing of property by a corporation, all the stock of which is owned by a private foundation, to a person affiliated with the foundation, from the excise tax on self-dealing by private foundations. Extends specified temporary provisions of the Tax Reform Act of 1969 which exempt certain transactions between private foundations and affiliated persons from the self-dealing tax.…