H.R. 4035 · 112th Congress
Philanthropic Enterprise Act of 2012
- Stage
- In committee
- Sponsor
- David Reichert
- Introduced
- 2012-02-15
- Latest action
- 2012-02-15 · Introduced in House
Summary
Philanthropic Enterprise Act of 2012 - Amends the Internal Revenue Code to exempt the holdings of a private foundation in any business enterprise that meet specified requirements relating to exclusive ownership, minimum distribution of net operating income, and independent operation (i.e., not controlled by a substantial contributor) from the excise tax on excess business holdings and unrelated business income.