There is one summary for this bill. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (06/23/2011)

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.