Summary: H.R.5645 — 113th Congress (2013-2014)All Information (Except Text)

There is one summary for H.R.5645. Bill summaries are authored by CRS.

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Introduced in House (09/18/2014)

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.