A bill to amend the Internal Revenue Code of 1986 with respect to the tax treatment of certain cooperative service organizations of private and community foundations.

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. Declares that the excise tax based on investment income applies to such organizations.

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

Timeline

1. 7 March 1991

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 7 March 1991

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · — · Download file

Documents

2 official files

• Introduced in Senate (text)

  Introduced in Senate · EN

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 7 March 1991

  Open at official source

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Sponsors

• Sen. Mitchell, George J. [D-ME] · D · Sponsor
• Sen. Durenberger, Dave [R-MN] · R · Sponsor
• Sen. Dole, Robert J. [R-KS] · R · Sponsor
• Sen. Kassebaum, Nancy Landon [R-KS] · R · Cosponsor
• Sen. Jeffords, James M. [I-VT] · R · Cosponsor
• Sen. Nunn, Sam [D-GA] · D · Cosponsor
• Sen. Cranston, Alan [D-CA] · D · Cosponsor
• Sen. Riegle, Donald W., Jr. [D-MI] · D · Cosponsor
• Sen. Levin, Carl [D-MI] · D · Cosponsor
• Sen. DeConcini, Dennis [D-AZ] · D · Cosponsor
• Sen. Brown, Hank [R-CO] · R · Cosponsor
• Sen. Wallop, Malcolm [R-WY] · R · Cosponsor
• Sen. Lugar, Richard G. [R-IN] · R · Cosponsor
• Sen. Rudman, Warren [R-NH] · R · Cosponsor
• Sen. Moynihan, Daniel Patrick [D-NY] · D · Cosponsor
• Sen. Smith, Bob [R-NH] · R · Cosponsor
• Sen. Wellstone, Paul D. [D-MN] · D · Cosponsor
• Sen. Fowler, Wyche, Jr. [D-GA] · D · Cosponsor
• Sen. D'Amato, Alfonse [R-NY] · R · Cosponsor
• · ssfi00 · Standing

Related records

• related to → To amend the Internal Revenue Code of 1986 to provide an exemption from income tax for certain common investment funds.