S. 1745 — A bill to amend the Tax Reform Act of 1969 with respect to the application of the excess business holding provisions to private foundations.

Summary

Amends the Tax Reform Act of 1969 to exempt from the divestiture requirements of the Internal Revenue Code certain private foundations which owned 100 percent of the voting stock in an incorporated business enterprise on May 26, 1969, and which are not managed by the donor of the stock or any family member.

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Legislative Actions

1981-10-16
Introduced in Senate
1981-10-16
Read second time and referred to Senate Committee on Finance.
1981-10-27
Committee on Finance requested executive comment from OMB; Treasury Department.
1981-10-30
Subcommittee on Taxation and Debt Management took the following actions.
1981-10-30
Subcommittee on Taxation and Debt Management. Hearings held.

A bill to amend the Tax Reform Act of 1969 with respect to the application of the excess business holding provisions to private foundations.

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