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United States · Bill · HR

H.R. 640 (114th)

Private Foundation Excise Tax Simplification Act of 2015

openUnited States· United States Congress· EN

Introduced

2 February 2015

Last action

9 February 2015 · Reported

Status

Placed on the Union Calendar, Calendar No. 13.

Sponsors

Rep. Paulsen, Erik [R-MN-3], Rep. Davis, Danny K. [D-IL-7], Rep. Reed, Tom [R-NY-23], Rep. Costello, Ryan A. [R-PA-6]

Subjects

Taxation

Source updated

7 April 2025

Taxation

Official sourceDownload fileView documentsShare

Summary

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. Excludes the budgetary effects of this Act from PAYGO scorecards.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 2 February 2015

    Introduced

    Introduced in House

    Source: IntroReferral

  2. 2 February 2015

    Introduced

    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.

    Source: IntroReferral

  3. 2 February 2015

    Introduced

    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.

    Source: IntroReferral

  4. 2 February 2015

    Introduced

    Introduced in House

    Source: IntroReferral

  5. 4 February 2015

    Vote

    Ordered to be Reported (Amended) by the Yeas and Nays: 24 - 14.

    Source: Committee

  6. 9 February 2015

    Calendars

    Placed on the Union Calendar, Calendar No. 13.

    Source: Calendars

  7. 9 February 2015

    Discharge

    Committee on the Budget discharged.

    Source: Discharge

  8. 9 February 2015

    Committee

    Committee on the Budget discharged.

    Source: Committee

  9. 9 February 2015

    Reported

    Reported (Amended) by the Committee on Ways and Means. H. Rept. 114-19, Part I.

    Source: Committee

  10. 9 February 2015

    Reported

    Reported (Amended) by the Committee on Ways and Means. H. Rept. 114-19, Part I.

    Source: Committee

Votes

No vote records are attached yet.

Versions

Documents

6 official files

Reported in House (text)

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Leesvertaling

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  • Reported in House (text)

    Reported in House · EN · 9 February 2015

    ViewDownloadOpen at official source

  • Reported in House (PDF)

    Reported in House · EN · 9 February 2015

    ViewDownloadOpen at official source

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  • Reported to House amended, Part I

    summary · EN · 9 February 2015

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  • Introduced in House (text)

    Introduced in House · EN · 2 February 2015

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  • Introduced in House (PDF)

    Introduced in House · EN · 2 February 2015

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  • Introduced in House

    summary · EN · 2 February 2015

    Open at official source

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Sponsors

Related records

Sources

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