Amends the Tax Reform Act of 1969 to exempt for ten years certain private foundations from the divestiture requirements imposed on private foundations having excess business holdings. Sets forth eligibility requirements for such exemption.
Introduced in Senate
Read twice and referred to the Committee on Finance.
Committee on Finance requested executive comment from OMB; Treasury Department; Health and Human Services Department.
Subcommittee on Taxation and Debt Management. Hearings held.
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