H.R. 4035 (112th): Philanthropic Enterprise Act of 2012

Introduced:
Feb 15, 2012 (112th Congress, 2011–2013)
Sponsor:
Rep. David Reichert [R-WA8]
Status:
Died (Referred to Committee)
See Instead:

S. 3377 (same title)
Referred to Committee — Jul 12, 2012

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was introduced on February 15, 2012, in a previous session of Congress, but was not enacted.

Progress
Introduced Feb 15, 2012
Referred to Committee Feb 15, 2012
Cosponsors
6 cosponsors (3R, 3D) (show)
Committees

House Ways and Means

The committee chair determines whether a bill will move past the committee stage.

Full Title

To amend the Internal Revenue Code of 1986 to exempt private foundations from the tax on excess business holdings in the case of certain philanthropic enterprises which are independently supervised, and for other purposes.

Summary

No summaries available.

Text

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Last updated Feb 15, 2012.
6 pages

Primary Source

View on THOMAS (The Library of Congress)

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Citation

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

2/15/2012--Introduced.
Philanthropic Enterprise Act of 2012 - Amends the Internal Revenue Code to exempt the holdings of a private foundation in any business enterprise that meet specified requirements relating to exclusive ownership, minimum distribution of net operating income, and independent operation (i.e., not controlled by a substantial contributor) from the excise tax on excess business holdings and unrelated business income.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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