GovTrack’s Bill Summary
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S. 593 (112th): A bill to amend the Internal Revenue Code of 1986 to modify the tax rate for excise tax on investment income of private foundations.
- Introduced:
- Mar 16, 2011 (112th Congress, 2011–2013)
- Sponsor:
- Sen. Charles Schumer [D-NY]
- Status:
- Died (Referred to Committee)
The bill’s title was written by the bill’s sponsor. S. stands for Senate bill.
- Summary
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No summaries available.
- Text
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Last updated Mar 16, 2011.
2 pages
- Primary Source
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View on THOMAS (The Library of Congress)
GovTrack gets most information from THOMAS, which is updated generally one day after events occur. Activity since the last update may not be reflected here.
- Citation
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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.
3/16/2011--Introduced.
Amends the Internal Revenue Code to: (1) reduce from 2% to 1.39% the excise tax rate on the net investment income of tax-exempt private foundations, and (2) repeal the 1% reduction in such tax rate for private foundations that meet certain distribution requirements.
House Republican Conference Summary
The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.
No summary available.
House Democratic Caucus Summary
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