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United States · Bill · HR

H.R. 5729 (93rd)

A bill to amend the Internal Revenue Code of 1954 to require private foundations to diversify their holdings.

referredUnited States· United States Congress· EN

Introduced

15 March 1973

Last action

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Status

Referred to House Committee on Ways and Means.

Sponsors

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Subjects

Discovery layer

Source updated

1 August 2024

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Summary

Requires private foundations to diversify their holdings for income tax purposes by providing that for each day on which a private foundation fails to dispose of any non-diversified holding such foundation shall be treated as making an investment, in an amount equal to the amount of such holding, in such a manner as to jeopardize the carrying out of its charitable purposes. (Amends 26 U.S.C. 4944)

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Documents

1 official file

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Sources

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