Summary: H.R.2386 — 115th Congress (2017-2018)All Information (Except Text)

There is one summary for H.R.2386. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (05/04/2017)

Private Foundation Excise Tax Simplification Act of 2017

This bill amends the Internal Revenue Code to: (1) reduce from 2% to 1% 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. The bill also excludes the budgetary effects of this bill from PAYGO scorecards maintained pursuant to the Statutory Pay-As-You-Go Act of 2010.