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US HR1223

Stop the Tax Hike on Charities and Places of Worship Act


summary

Introduced
02/14/2019
In Committee
02/14/2019
Crossed Over
Passed
Dead
12/31/2020

Introduced Session

116th Congress

Bill Summary

To amend the Internal Revenue Code of 1986 to repeal the increase in unrelated business taxable income by amount of certain fringe benefit expenses. This bill modifies the requirements for determining the unrelated business taxable income of tax-exempt organizations. The bill repeals a provision that requires unrelated business taxable income to be increased by the amount of expenses paid or incurred by a tax-exempt 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. The bill also increases the corporate income tax rate from 21% to 21.03%.

AI Summary

This bill, the Stop the Tax Hike on Charities and Places of Worship Act, amends the Internal Revenue Code to repeal the requirement that tax-exempt organizations include certain fringe benefit expenses, such as those related to transportation, parking, or on-premises athletic facilities, in their unrelated business taxable income. The bill also increases the corporate income tax rate from 21% to 21.03%.

Committee Categories

Budget and Finance

Sponsors (48)

Jim Clyburn (D)* Joyce Beatty (D),  Sanford Bishop (D),  Brendan Boyle (D),  Anthony Brown (D),  Julia Brownley (D),  G. Butterfield (D),  David Cicilline (D),  Yvette Clarke (D),  Lacy Clay (D),  Emanuel Cleaver (D),  Steve Cohen (D),  Jim Cooper (D),  Elijah Cummings (D),  Val Demings (D),  Marcia Fudge (D),  Alcee Hastings (D),  Katie Hill (D),  Jim Himes (D),  Steven Horsford (D),  Hakeem Jeffries (D),  Eddie Johnson (D),  Hank Johnson (D),  Brenda Lawrence (D),  Barbara Lee (D),  Susie Lee (D),  Daniel Lipinski (D),  Donald McEachin (D),  Jim McGovern (D),  Gwen Moore (D),  Eleanor Holmes Norton (D),  Ilhan Omar (D),  Scott Peters (D),  Chellie Pingree (D),  Stacey Plaskett (D),  Jamie Raskin (D),  Cedric Richmond (D),  Bobby Rush (D),  Mary Gay Scanlon (D),  David Scott (D),  Tom Suozzi (D),  Eric Swalwell (D),  Bennie Thompson (D),  David Trone (D),  Lauren Underwood (D),  Jeff Van Drew (R),  Bonnie Watson Coleman (D),  Frederica Wilson (D), 

Last Action

Referred to the House Committee on Ways and Means. (on 02/14/2019)

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