S. 1416: Reduction of Excess Business Holding Accrual Act

S. 1416 is a federal bill in the 119th Congress. Currently, private foundations face a federal excise tax if they own more than 20% of a corporation's voting stock, after accounting for stock held by certain related parties. This bill changes how some stock is counted when calculating this tax.… See its sponsors, how members voted, and a plain-English breakdown on PolityLens.