Friday, July 18, 2014
Bipartisan House Super-Majority Passes "America Gives More Act" | Council on Foundations
Bipartisan House Super-Majority Passes "America Gives More Act" | Council on Foundations: H.R. 4719 includes several provisions of particular importance to foundations. First, it would make the IRA charitable rollover permanent through a provision adapted from legislation sponsored by Congressman Aaron Schock (R-IL-18). Second, the bill includes a provision, adapted from legislation introduced by Congressman Erik Paulsen (R-MN-3), to simplify the two-tier excise tax on private foundations by replacing it with a single rate of one percent. The Council on Foundations has supported both of these provisions for many years.