Bill Would Exempt Private Foundations from Excess Business Holdings on Certain Philanthropic Enterprises | Planned Giving Design Center

Bill Would Exempt Private Foundations from Excess Business Holdings on Certain Philanthropic Enterprises | Planned Giving Design Center: The Philanthropic Enterprise Act of 2012, introduced by Rep. David G. Reichert, R-WA, would amend the Internal Revenue Code of 1986 to exempt private foundations from the tax on excess business holdings in the case of certain philanthropic enterprises which are independently supervised, and for other purposes.