A bill to amend the Internal Revenue Code of 1954 with respect to the determination of whether scholarships under certain employer-related programs of private foundations will be treated as taxable expenditures under Section 4945 of such Code.
Amends the Internal Revenue Code to prohibit the treatment of employer-related private foundation scholarships as taxable expenditures solely because of the percentage of applications accepted if the percentage of applications accepted is less than 50.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
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