Philanthropic Enterprise Act of 2016
Latest action · Apr 20, 2016 Referred to the House Committee on Ways and Means.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedApr 20, 2016
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Philanthropic Enterprise Act of 2016
This bill 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 for the charitable purpose (all profits to charity distribution requirement), and independent operation (not controlled by a substantial contributor or family members) from the excise taxes on excess business holdings.
Cosponsors 15
Members who signed on, in the order they did. Signatures ran from Apr 20, 2016 to Nov 14, 2016, with 9 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-AL | Bradley Byrne | Original | Apr 20, 2016 |
| D-CT | Elizabeth H. Esty | Original | Apr 20, 2016 |
| R-MN | Erik Paulsen | Original | Apr 20, 2016 |
| R-NC | George Holding | Original | Apr 20, 2016 |
| D-CT | James A. Himes | Original | Apr 20, 2016 |
| R-MO | Jason Smith | Original | Apr 20, 2016 |
| D-CT | John B. Larson | Original | Apr 20, 2016 |
| R-OH | Patrick J. Tiberi | Original | Apr 20, 2016 |
| D-MA | Richard E. Neal | Original | Apr 20, 2016 |
| D-MA | James P. McGovern | May 17, 2016 | |
| D-TN | Steve Cohen | Jul 5, 2016 | |
| R-PA | Mike Kelly | Jul 13, 2016 | |
| R-LA | Charles W. Boustany, Jr. | Jul 14, 2016 | |
| R-SC | Tom Rice | Sep 13, 2016 | |
| R-NJ | Leonard Lance | Nov 14, 2016 |
Actions 2
Everything that happened, newest first.
- Apr 20, 2016Introduced in House
- Apr 20, 2016Referred to the House Committee on Ways and Means.
Related bills 3
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 909 | Philanthropic Enterprise Act of 2015 | Related bill | Apr 14, 2015 |
| S 2750 | Charities Helping Americans Regularly Throughout the Year Act | Related bill | Apr 6, 2016 |
| HR 3732 | Philanthropic Enterprise Act of 2015 | Related bill | Oct 9, 2015 |
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- Apr 20, 2016Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.