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To amend the Internal Revenue Code of 1986 to modify the tax rate for excise tax on investment income of private foundations.

USA115th CongressHR-2386| House 
| Updated: 5/4/2017
Erik Paulsen

Erik Paulsen

Republican Representative

Minnesota

Cosponsors (11)
Richard M. Nolan (Democratic)Jackie Walorski (Republican)Pete Sessions (Republican)Collin C. Peterson (Democratic)Mike Bishop (Republican)Danny K. Davis (Democratic)Kenny Marchant (Republican)Patrick Meehan (Republican)Tom Rice (Republican)Patrick J. Tiberi (Republican)George Holding (Republican)

Ways and Means Committee, Budget Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Private Foundation Excise Tax Simplification Act of 2017 This bill amends the Internal Revenue Code to: (1) reduce from 2% to 1% 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. The bill also excludes the budgetary effects of this bill from PAYGO scorecards maintained pursuant to the Statutory Pay-As-You-Go Act of 2010.
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Timeline
May 4, 2017
Introduced in House
May 4, 2017
Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
  • May 4, 2017
    Introduced in House
  • May 4, 2017
    Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Taxation

Budget processFinancial services and investmentsSales and excise taxesTax-exempt organizations

To amend the Internal Revenue Code of 1986 to modify the tax rate for excise tax on investment income of private foundations.

USA115th CongressHR-2386| House 
| Updated: 5/4/2017
Private Foundation Excise Tax Simplification Act of 2017 This bill amends the Internal Revenue Code to: (1) reduce from 2% to 1% 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. The bill also excludes the budgetary effects of this bill from PAYGO scorecards maintained pursuant to the Statutory Pay-As-You-Go Act of 2010.
View Full Text

Suggested Questions

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Timeline
May 4, 2017
Introduced in House
May 4, 2017
Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
  • May 4, 2017
    Introduced in House
  • May 4, 2017
    Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Erik Paulsen

Erik Paulsen

Republican Representative

Minnesota

Cosponsors (11)
Richard M. Nolan (Democratic)Jackie Walorski (Republican)Pete Sessions (Republican)Collin C. Peterson (Democratic)Mike Bishop (Republican)Danny K. Davis (Democratic)Kenny Marchant (Republican)Patrick Meehan (Republican)Tom Rice (Republican)Patrick J. Tiberi (Republican)George Holding (Republican)

Ways and Means Committee, Budget Committee

Taxation

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Budget processFinancial services and investmentsSales and excise taxesTax-exempt organizations