Summary: S.2756 — 116th Congress (2019-2020)All Information (Except Text)

There is one summary for S.2756. Bill summaries are authored by CRS.

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Introduced in Senate (10/31/2019)

Philanthropic Facilitation Act

This bill amends the Internal Revenue Code to (1) expand the definition of, and requirements relating to, "program-related investments" made by private foundations to for-profit entities to further certain charitable purposes; (2) allow a judicial determination (i.e., declaratory judgment) as to whether investments in any entity qualify as program-related investments; (3) require expanded reporting by for-profit entities that receive program-related investments of their gross income, expenses, disbursements, and other information; and (4) allow public inspection of any petition seeking a determination that an investment by a private foundation is a program-related investment and of any information reported by organizations receiving program-related investments.