Summary: H.R.1223 — 116th Congress (2019-2020)All Information (Except Text)

There is one summary for H.R.1223. Bill summaries are authored by CRS.

Shown Here:
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%.