S 2306 · 98th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954 to provide that a defined contribution plan qualified under section 401(a) will not be a disqualified person with respect to a private foundation merely because it owns more than 20 percent interest in a corporation, partnership or trust which is a substantial contributor to the foundation.

Introduced 1984-02-09· Sponsored by Sen. Pryor, David H. [D-AR]· Senate

Bill Progress

✓
Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Committee on Finance requested executive comment from OMB, Treasury Department.(1984-02-21)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to provide that a defined contribution plan shall not be treated as a disqualified person with respect to a private foundation because it owns more than a 20 percent interest in a corporation, partnership, or trust which is a substantial contributor to the foundation.…

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