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H.R. 5645

Philanthropic Enterprise Act of 2014

Philanthropic Enterprise Act of 2014 - Amends the Internal Revenue Code to exempt the holdings of a private foundation in any business enterprise that meets specified requirements relating to exclusive ownership, minimum distribution of net operating income for the charitable purpose, and independent operation (i.e., not controlled by a substantial contributor or family members) from the excise taxes on excess business holdings and unrelated business income.

Referred to the House Committee on Ways and Means.

Rep. Reichert, David G. [R-WA-8](R-WA)Sponsor
5 cosponsors2 D3 R
5cosponsors1committees3actions1related bills4subjects
  • Introduced in HouseSep 18, 2014
  1. IntroReferralH11100

    Referred to the House Committee on Ways and Means.

  2. IntroReferralIntro-H

    Introduced in House

  3. IntroReferral1000

    Introduced in House