H.R.1223 - Stop the Tax Hike on Charities and Places of Worship Act116th Congress (2019-2020)
|Sponsor:||Rep. Clyburn, James E. [D-SC-6] (Introduced 02/14/2019)|
|Committees:||House - Ways and Means|
|Latest Action:||House - 02/14/2019 Referred to the House Committee on Ways and Means. (All Actions)|
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Summary: H.R.1223 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in House (02/14/2019)
Stop the Tax Hike on Charities and Places of Worship Act
This bill modifies 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 income tax rate from 21% to 21.03%.