H.R.2311 - To amend the Internal Revenue Code of 1986 to modify the tax rate for excise tax on investment income of private foundations.

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  • Official: To amend the Internal Revenue Code of 1986 to modify the tax rate for excise tax on investment income of private foundations. as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
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06/23/11
 
 
 
 
 
 
 

Sponsor

P000594

Representative

Erik Paulsen

R-MN

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Official Summary

Amends the Internal Revenue Code to: (1) reduce from 2% to 1.39% 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.

Official Summary

Amends the Internal Revenue Code to:
(1) reduce from 2% to 1.39% 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.

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