Senate Bill 501
116th Congress(2019-2020)
Stop the Tax Hike on Charities and Places of Worship Act
Introduced
Introduced in Senate on Feb 14, 2019
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
501
Congress
116
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
No Senate votes have been held for this bill.
Summary
Stop the Tax Hike on Charities and Places of Worship Act
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 22%.
February 14, 2019
Sort by most recent
02/14/2019
Read twice and referred to the Committee on Finance.
02/14/2019
Introduced in Senate
Public Record
Record Updated
Nov 1, 2022 4:32:55 PM