US Congress Senate Bill 2313 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on November 19 2015 - 25% progression, died in committee
Action: 2015-11-19 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Philanthropic Facilitation Act This bill amends the Internal Revenue Code to: (1) expand the definition of, and requirements relating to, "program-related investments" made by private foundations to for-profit entities to further certain charitable purposes; (2) allow a judicial determination (i.e., declaratory judgment) as to whether investments in any entity qualify as program-related investments; (3) require expanded reporting by for-profit entities that receive program-related investments of their gross income, expenses, disbursements, and other information; and (4) allow public inspection of any petition seeking a determination that an investment by a private foundation is a program-related investment and of any information reported by organizations receiving program-related investments.

Philanthropic Facilitation Act

Sen. Cory Gardner [R-CO]

Sen. Gary Peters [D-MI]

Date	Chamber	Action
2015-11-19	Senate	Read twice and referred to the Committee on Finance.

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/senate-bill/2313/all-info
Text	https://www.congress.gov/114/bills/s2313/BILLS-114s2313is.pdf