H.R.734: To amend the Internal Revenue Code of 1986 to provide an exemption from income tax for certain common investment funds.

About This Bill

Bill Summary

Amends the Internal Revenue Code to permit tax-exempt private foundations and community foundations to establish tax-exempt cooperative service organizations to operate exclusively for charitable purposes. Applies the excise taxes on private foundations, except the taxes on investment income and on failure to distribute income, to such organizations.

(Source: Library of Congress)

Bill Actions

Date Description
Referred to the House Committee on Ways and Means.
Committee Hearings Held.
Committee Hearings Held.
Jan. 30, 1995

Introduced in the House by Andrew Jacobs Jr. (D-Ind.)

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