H.R.6504 - Stop the Tax Hike on Charities and Places of Worship Act115th Congress (2017-2018)
|Sponsor:||Rep. Clyburn, James E. [D-SC-6] (Introduced 07/25/2018)|
|Committees:||House - Ways and Means|
|Latest Action:||House - 07/25/2018 Referred to the House Committee on Ways and Means. (All Actions)|
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Summary: H.R.6504 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in House (07/25/2018)
Stop the Tax Hike on Charities and Places of Worship Act
This bill amends the Internal Revenue Code to modify the requirements for determining the unrelated business taxable income of tax-exempt organizations. The bill repeals a provision that requires unrelated business taxable income to be increased by the amount of expenses paid or incurred by a tax-exempt organization for certain fringe benefits for which a tax deduction is not allowed, including benefits relating to transportation, parking, or an on-premises athletic facility.
The bill also increases the corporate tax rate from 21% to 22%.