To amend the Internal Revenue Code of 1986 to impose excise taxes on acts of self-dealing and private inurement by certain tax-exempt organizations.

Summary

Amends the Internal Revenue Code to impose an excise tax on: (1) each act of self-dealing between a disqualified person and a tax-exempt organization; and (2) any direct or indirect inurement of net earnings of a tax-exempt organization to the benefit of any disqualified person. Describes a disqualified person as: (1) any organization manager; (2) any family member of an organization manager; or (3) any 35-percent controlled entity of such persons.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 22 November 1993

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• Introduced in House (PDF)

  Introduced in House · EN · 22 November 1993

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• Introduced in House

  summary · EN · 22 November 1993

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