legislation: 98-hr-2032

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
98-hr-2032 98 hr 2032 A bill to amend the Internal Revenue Code of 1954 to permit the Secretary of the Treasury to extend, under certain circumstances, the 5-year period within which private foundations must dispose of excess business holdings. Social Sciences and History 1983-03-09 1984-06-27 See H.R.4170. House Rep. Russo, Martin A. [D-IL-3] IL D R000543 2 Amends the Internal Revenue Code to authorize the Secretary of the Treasury to grant one or more extensions of the five-year period within which tax-exempt private foundations must dispose of excess business holdings. Requires the Secretary, in granting or denying an extension, to consider, among other factors: (1) whether the private foundation has in good faith taken reasonable steps to dispose of such holdings throughout the initial five-year period; (2) whether orderly disposition of such holdings can reasonably be expected to occur before the expiration of the extension period; and (3) all other facts and circumstances which the Secretary considers relevant. Requires that the extension so granted be no less than 24 months in duration. 2024-02-07T16:32:33Z  

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