H.R. 5645: Philanthropic Enterprise Act of 2014
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H.R. 5645: Philanthropic Enterprise Act of 2014
113th Congress · introduced 2014-09-18 · Taxation · Latest: Referred to the House Committee on Ways and Means.
federal
Follow this bill, step by step
- Where it came from: introduced 2014-09-18 · official record
- Who proposed it: Rep. Reichert, David G. [R-WA-8] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- Where it stands now: Referred to the House Committee on Ways and Means. Not final yet: this can still change. We check for updates every day.
- If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.
Official title
Philanthropic Enterprise Act of 2014
Plain summary
Philanthropic Enterprise Act of 2014 - Amends the Internal Revenue Code to exempt the holdings of a private foundation in any business enterprise that meets specified requirements relating to exclusive ownership, minimum distribution of net operating income for the charitable purpose, and independent operation (i.e., not controlled by a substantial contributor or family members) from the excise taxes on excess business holdings and unrelated business income.
Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.
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A “Yea” vote
If it passes both chambers and is signed, it becomes law.
A “Nay” vote
If it is not passed, current law stays as it is.
PSI Sci description of the legislative step (not an opinion).
What does this mean? (plain words)
Official text
Philanthropic Enterprise Act of 2014
Source: Congressional Research Service summary (Introduced in House)
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Rep. Reichert, David G. [R-WA-8] · 5 cosponsors
Cost estimate: No cost estimate published yet.
Cosponsors on this site
John B. Larson (D-CT), Richard E. Neal (D-MA)
No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.
Words on this page, explained (1)
- Exemption
- A rule that removes certain people, property or activities from a tax or requirement.
Plain meanings written from linked sources. All words.
Sources
- Congressional Research Service summary (Introduced in House)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-113hr5645.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/113/hr>
Record fed-us-cong113-hr5645 · catalog fed-us-congress-bills-cong113 · updated 2026-11-15 by psicol fed-bills-cong113