A bill to amend the Internal Revenue Code of 1986 to repeal the inclusion of certain fringe benefit expenses for which a deduction is disallowed in unrelated business taxable income.
Lessen Impediments From Taxes for Charities Act or the LIFT for Charities 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.
Referred to the House Committee on Ways and Means.
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.
Placed on the Union Calendar, Calendar No. 307.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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