S. 1282 - Preserve Charities and Houses of Worship Act
S. 1282; Preserve Charities and Houses of Worship Act
- AuthorsCruz, Sen. Ted
- Institutional AuthorsU.S. Senate
- Code Sections
- Subject Area/Tax Topics
- Jurisdictions
- Tax Analysts Document Number2019-17280
- Tax Analysts Electronic Citation2019 TNT 86-332019 EOR 6-48
- Magazine CitationThe Exempt Organization Tax Review, June 2019, p. 46483 Exempt Org. Tax Rev. 464 (2019)
116TH CONGRESS
1ST SESSION
S. 1282
To amend the Internal Revenue Code of 1986 to repeal certain rules
related to the determination of unrelated business taxable income.
IN THE SENATE OF THE UNITED STATES
MAY 2, 2019
Mr. CRUZ (for himself and Mrs. SHAHEEN) introduced the following bill;
which was read twice and referred to the Committee on Finance
A BILL
To amend the Internal Revenue Code of 1986 to repeal certain rules related to the determination of unrelated business taxable income.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the "Preserve Charities and Houses of Worship Act".
SEC. 2. REPEAL OF REQUIREMENT THAT UNRELATED BUSINESS TAXABLE INCOME BE COMPUTED SEPARATELY FOR EACH TRADE OR BUSINESS ACTIVITY.
(a) IN GENERAL. — Section 512(a) of the Internal Revenue Code of 1986 is amended by striking paragraph (6).
(b) EFFECTIVE DATE. — The amendment made by this section shall take effect as if included in section 13702 of Public Law 115-97.
SEC. 3. REPEAL OF INCREASE OF UNRELATED BUSINESS TAXABLE INCOME BY CERTAIN DISALLOWED FRINGE BENEFITS.
(a) IN GENERAL. — Section 512(a) of the Internal Revenue Code of 1986 is amended by striking paragraph (7).
(b) EFFECTIVE DATE. — The amendment made by this section shall take effect as if included in section 13703 of Public Law 115-97.
- AuthorsCruz, Sen. Ted
- Institutional AuthorsU.S. Senate
- Code Sections
- Subject Area/Tax Topics
- Jurisdictions
- Tax Analysts Document Number2019-17280
- Tax Analysts Electronic Citation2019 TNT 86-332019 EOR 6-48
- Magazine CitationThe Exempt Organization Tax Review, June 2019, p. 46483 Exempt Org. Tax Rev. 464 (2019)