A bill to amend the Internal Revenue Code of 1986 to repeal the increase in unrelated business taxable income by amount of certain fringe benefit expenses.
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 22%.
Referred to the House Committee on Ways and Means.
Referred to the House Committee on Ways and Means.
Read twice and referred to the Committee on Finance.
Read twice and referred to the Committee on Finance.
Referred to the House Committee on Ways and Means.
Introduced in Senate
Read twice and referred to the Committee on Finance.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line