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- S.676
S.676: A bill to amend the Internal Revenue Code of 1986 to modify the tax rate for excise tax on investment income of private foundations.
About This Bill
- This bill was introduced in the 111th Congress
- This bill is primarily about taxation
- Introduced March 24, 2009
- Latest Major Action March 24, 2009
- See the one similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsors
7 (4 Democrats, 4 Republicans)
Bill Summary
Amends the Internal Revenue Code to: (1) reduce from 2 to 1.32% 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.
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
|
Referred to the Committee on Finance.
|
|
| March 24, 2009 |
Introduced in the Senate by Charles E. Schumer (D-N.Y.) |