summary
Introduced
01/11/2019
01/11/2019
In Committee
01/11/2019
01/11/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
To amend the Internal Revenue Code of 1986 to repeal certain rules related to the determination of unrelated business taxable income. This bill modifies the requirements for determining the unrelated business taxable income of tax-exempt organizations. The bill repeals provisions that (1) require organizations with more than one unrelated trade or business to compute unrelated business taxable income separately for each trade or business; and (2) increase unrelated business taxable income by the amount of expenses paid or incurred by an organization for certain fringe benefits for which a tax deduction is not allowed, including benefits relating to transportation, parking, or an on-premises athletic facility.
AI Summary
This bill, the Nonprofits Support Act, aims to amend the Internal Revenue Code by repealing certain rules related to the determination of unrelated business taxable income (UBTI) for tax-exempt organizations. Specifically, it repeals provisions that (1) require organizations with more than one unrelated trade or business to compute UBTI separately for each trade or business, and (2) increase UBTI by the amount of expenses paid or incurred by an organization for certain fringe benefits, such as transportation, parking, or on-premises athletic facilities, for which a tax deduction is not allowed.
Committee Categories
Budget and Finance
Sponsors (11)
K. Michael Conaway (R)*,
Brian Babin (R),
Neal Dunn (R),
Trent Kelly (R),
Ralph Norman (R),
David Roe (R),
David Rouzer (R),
Steve Watkins (R),
Randy Weber (R),
Joe Wilson (R),
Ted Yoho (R),
Last Action
Referred to the House Committee on Ways and Means. (on 01/11/2019)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/house-bill/513/all-info |
| BillText | https://www.congress.gov/116/bills/hr513/BILLS-116hr513ih.pdf |
| Bill | https://www.congress.gov/116/bills/hr513/BILLS-116hr513ih.pdf.pdf |
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