H.R. 2399 — A bill to amend the Internal Revenue Code of 1954 to provide special rules for the application of section 4943 of the Internal Revenue Code of 1954 to any private foundation the principal asset of which is a bank holding company.

Summary

Provides special rules for determining whether a private foundation's ownership interest in a bank holding company qualifies as an interest in a business enterprise, for purposes of the penalty tax on the excess business holdings of private foundations.

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Related Legislation

S. 977A bill to provide special rules for the application of section 4943 of the Internal Revenue Code of 1954 to any private foundation the principal asset of which is a bank holding company.
1983-04-07Committee on Finance requested executive comment from OMB, Treasury Department.
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Legislative Actions

1983-04-05
Introduced in House
1983-04-05
Introduced in House
1983-04-05
Referred to House Committee on Ways and Means.

A bill to amend the Internal Revenue Code of 1954 to provide special rules for the application of section 4943 of the Internal Revenue Code of 1954 to any private foundation the principal asset of which is a bank holding company.

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