H.R. 2032 (98th): A bill to amend the Internal Revenue Code of 1954 to permit the Secretary of the Treasury to extend, under certain circumstances, the 5-year period within which private foundations must dispose of excess business holdings.

Mar 09, 1983 (98th Congress, 1983–1984)
Died (Referred to Committee)
Martin Russo
Representative for Illinois's 3rd congressional district
Related Bills
H.R. 4170 (Related)
Deficit Reduction Act of 1984

Signed by the President
Jul 18, 1984


This bill was introduced on March 9, 1983, in a previous session of Congress, but was not enacted.

Introduced Mar 09, 1983
Referred to Committee Mar 09, 1983

No summaries available.

2 cosponsors (2R) (show)

House Ways and Means

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

Primary Source

THOMAS.gov (The Library of Congress)

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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.

Amends the Internal Revenue Code to authorize the Secretary of the Treasury to grant one or more extensions of the five-year period within which tax-exempt private foundations must dispose of excess business holdings.
Requires the Secretary, in granting or denying an extension, to consider, among other factors:
(1) whether the private foundation has in good faith taken reasonable steps to dispose of such holdings throughout the initial five-year period;
(2) whether orderly disposition of such holdings can reasonably be expected to occur before the expiration of the extension period; and
(3) all other facts and circumstances which the Secretary considers relevant.
Requires that the extension so granted be no less than 24 months in duration.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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