Amends the Internal Revenue Code to eliminate adjusted net income as a standard for determining the amount which a private foundation is required to distribute to avoid the tax on undistributed income.
Introduced in Senate
Read second time and referred to Senate Committee on Finance.
Subcommittee on Energy and Agricultural Taxation took the following actions.
Subcommittee on Taxation and Debt Management took the following actions.
Committee on Finance requested executive comment from OMB; Treasury Department.
Subcommittee on Energy and Agricultural Taxation. Hearings held.
Subcommittee on Taxation and Debt Management. Hearings held.
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