S 977 · 98th Congress · Social Sciences and History

A bill to provide special rules for the application of section 4943 of the Internal Revenue Code of 1954 to any private foundation the principal asset of which is a bank holding company.

Introduced 1983-04-05· Sponsored by Sen. Durenberger, Dave [R-MN]· Senate

Bill Progress

✓
Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Committee on Finance requested executive comment from OMB, Treasury Department.(1983-04-07)

Plain Language Summary

[AI summary unavailable — showing source text] Provides special rules for determining whether a private foundation's ownership interest in a bank holding company qualifies as an interest in a business enterprise, for purposes of the penalty tax on the excess holdings of a private foundation.…

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

Cosponsors (1)

1 Republican
Sen. Boschwitz, Rudy [R-MN]MN