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United States · Law · HR

H.R. 2519 (104th)

Philanthropy Protection Act of 1995

enactedUnited States· United States Congress· EN

Introduced

24 October 1995

Last action

8 December 1995 · President

Status

Became Public Law No: 104-62.

Sponsors

Rep. Fields, Jack [R-TX-8], Rep. Bliley, Tom [R-VA-7], Sen. Burr, Richard [R-NC], Rep. Dingell, John D. [D-MI-12], Rep. Edwards, Chet [D-TX-17], Rep. Frisa, Dan [R-NY-4], Sen. Markey, Edward J. [D-MA], Rep. Bryant, John W. [D-TX-5], Rep. Gillmor, Paul E. [R-OH-5], Rep. Hall, Ralph M. [R-TX-4], Sen. Hutchinson, Tim [R-AR], Rep. Inglis, Bob [R-SC-4], Rep. Oxley, Michael G. [R-OH-4], Rep. Smith, Lamar [R-TX-21], Rep. Barton, Joe [R-TX-6], Rep. Bentsen, Ken [D-TX-25], Rep. Lewis, John [D-GA-5], Rep. Brewster, Bill K. [D-OK-3], Rep. McDermott, Jim [D-WA-7], Rep. Ramstad, Jim [R-MN-3], Rep. Hastert, J. Dennis [R-IL-14], Rep. Funderburk, David [R-NC-2], Rep. Emerson, Bill [R-MO-8], Rep. Cramer, Robert E. (Bud), Jr. [D-AL-5], Rep. Quillen, James H. (Jimmy) [R-TN-1], Rep. Stump, Bob [R-AZ-3], Rep. Woolsey, Lynn C. [D-CA-6]

Subjects

Discovery layer

Source updated

7 April 2025

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Summary

Philanthropy Protection Act of 1995 - Exempts from the jurisdiction of the Investment Company Act of 1940, the Securities Act of 1933, the Securities Exchange Act of 1934, and the Investment Advisers Act of 1940 any security issued by or any interest or participation in any pooled income fund, collective trust fund, collective investment fund, or similar fund maintained by a charitable organization exclusively for the collective investment and reinvestment of certain assets. Includes among such assets those of: (1) a charitable remainder trust or of any other trust the remainder interests of which are irrevocably dedicated to any charitable organization; or (2) a trust the remainder interests of which are revocably dedicated to a charitable organization, subject to specified conditions. Deems such a charitable income fund, in specified circumstances, not to be an investment company under the Investment Company Act of 1940. Amends the Investment Company Act of 1940 to set forth disclosure requirements for exempt charitable organizations. Amends the Securities Exchange Act of 1934 to require solicitors of funds for such exempt charitable organizations to be volunteers or to be engaged in overall fund-raising activities of the organization but receiving no commission or other special compensation based on the amount of donations collected. Exempts such charitable organizations from State regulation in general, and such securities from State registration or qualification requirements in particular. Permits a State to enact a statute that specifically refers to this Act and provides prospectively that this Act does not preempt the laws of such State.

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Timeline

  1. 24 October 1995

    Introduced

    Referred to the House Committee on Commerce.

    Source: IntroReferral

  2. 24 October 1995

    Introduced

    Sponsor introductory remarks on measure. (CR E2006-2007)

    Source: IntroReferral

  3. 24 October 1995

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 24 October 1995

    Introduced

    Introduced in House

    Source: IntroReferral

  5. 27 October 1995

    Referred

    Referred to the Subcommittee on Telecommunications and Finance.

    Source: Committee

  6. 31 October 1995

    Committee

    Forwarded by Subcommittee to Full Committee by Voice Vote.

    Source: Committee

  7. 31 October 1995

    Committee

    Subcommittee Consideration and Mark-up Session Held.

    Source: Committee

  8. 31 October 1995

    Committee

    Subcommittee Hearings Held.

    Source: Committee

  9. 1 November 1995

    Reported

    Ordered to be Reported (Amended) by Voice Vote.

    Source: Committee

  10. 1 November 1995

    Committee

    Committee Consideration and Mark-up Session Held.

    Source: Committee

  11. 10 November 1995

    Calendars

    Placed on the Union Calendar, Calendar No. 178.

    Source: Calendars

  12. 10 November 1995

    Reported

    Reported (Amended) by the Committee on Commerce. H. Rept. 104-333.

    Source: Committee

  13. 10 November 1995

    Reported

    Reported (Amended) by the Committee on Commerce. H. Rept. 104-333.

    Source: Committee

  14. 14 November 1995

    Calendars

    Placed on the Corrections Calendar, Calendar No. 8.

    Source: Calendars

  15. 28 November 1995

    Passed

    Motion to reconsider laid on the table Agreed to without objection.

    Source: Floor

  16. 28 November 1995

    Vote

    On passage Passed by the Yeas and Nays: (3/5 required): 421 - 0 (Roll no. 822).

    Source: Floor

  17. 28 November 1995

    Vote

    Passed/agreed to in House: On passage Passed by the Yeas and Nays: (3/5 required): 421 - 0 (Roll no. 822).

    Source: Floor

  18. 28 November 1995

    Floor

    DEBATE - The House proceeded with one hour of debate.

    Source: Floor

  19. 28 November 1995

    Floor

    The previous question was ordered on the amendment and the bill without objection.

    Source: Floor

  20. 28 November 1995

    Floor

    Considered from the Corrections Calendar. (consideration: CR H13670-13677, H13679-13680)

    Source: Floor

  21. 28 November 1995

    Floor

    Called up from the Corrections Calendar for consideration.

    Source: Floor

  22. 29 November 1995

    Introduced

    Received in the Senate, read twice, considered, read the third time, and passed without amendment by Voice Vote. (consideration: CR S17828)

    Source: Floor

  23. 29 November 1995

    Introduced

    Passed/agreed to in Senate: Received in the Senate, read twice, considered, read the third time, and passed without amendment by Voice Vote.(consideration: CR S17828)

    Source: Floor

  24. 30 November 1995

    Floor

    Presented to President.

    Source: Floor

  25. 30 November 1995

    President

    Presented to President.

    Source: President

  26. 30 November 1995

    Floor

    Message on Senate action sent to the House.

    Source: Floor

  27. 8 December 1995

    Became law

    Became Public Law No: 104-62.

    Source: President

  28. 8 December 1995

    Became law

    Signed by President.

    Source: BecameLaw

  29. 8 December 1995

    President

    Signed by President.

    Source: President

Votes

No vote records are attached yet.

Versions

Documents

15 official files

Enrolled Bill (text)

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  • Enrolled Bill (text)

    Enrolled Bill · EN

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  • Enrolled Bill (PDF)

    Enrolled Bill · EN

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  • Public Law (text)

    Public Law · EN · 9 December 1995

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  • Public Law (PDF)

    Public Law · EN · 9 December 1995

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  • Received in Senate (text)

    Received in Senate · EN · 29 November 1995

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  • Received in Senate (PDF)

    Received in Senate · EN · 29 November 1995

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  • Engrossed in House (text)

    Engrossed in House · EN · 28 November 1995

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  • Engrossed in House (PDF)

    Engrossed in House · EN · 28 November 1995

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  • Passed House amended

    summary · EN · 28 November 1995

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  • Reported in House (text)

    Reported in House · EN · 10 November 1995

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  • Reported in House (PDF)

    Reported in House · EN · 10 November 1995

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  • Reported to House with amendment(s)

    summary · EN · 10 November 1995

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  • Introduced in House (text)

    Introduced in House · EN · 24 October 1995

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  • Introduced in House (PDF)

    Introduced in House · EN · 24 October 1995

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  • Introduced in House

    summary · EN · 24 October 1995

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