Amends the Internal Revenue Code to permit tax-exempt private foundations and community foundations to establish tax-exempt cooperative service organizations to operate exclusively for charitable purposes. Applies the excise taxes on private foundations, except the taxes on investment income and on failure to distribute income, to such organizations.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
Committee Hearings Held.
Committee Hearings Held.
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