---
kind: "diff"
citation: "H.R. 640"
bill: "114-hr-640"
heading: "Private Foundation Excise Tax Simplification Act of 2015"
from: "ih"
from_label: "Introduced in House"
to: "rh"
to_label: "Reported in House"
sections_amended: 2
sections_added: 1
sections_removed: 0
url: "https://uscodex.org/bills/114/hr/640/changes/rh"
---

# H.R. 640 — what changed

H.R. 640, Private Foundation Excise Tax Simplification Act of 2015 — 2 sections amended and 1 added between Introduced in House and Reported in House.

Edits are marked `<del>struck</del>` and `<ins>inserted</ins>`.

## Section 1 Short title

- <ins>This Act may be cited as the “Private Foundation Excise Tax Simplification Act of 2015”.</ins>
- (a) <del>In general—</del> <del>Section 4940(a) of the Internal Revenue Code of 1986 is amended by striking “2 percent” and inserting “1 percent”.</del>
- (b) <del>Elimination of reduced tax where foundation meets certain distribution requirements—</del> <del>Section 4940 of such Code is amended by striking subsection (e).</del>
- (c) <del>Effective date—</del> <del>The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.</del>

## Sec. 2 Modification of the tax rate for the excise tax on investment income of private foundations

- (a) <ins>In general—</ins> <ins>Section 4940(a) of the Internal Revenue Code of 1986 is amended by striking “2 percent” and inserting “1 percent”.</ins>
- (b) <ins>Elimination of reduced tax where foundation meets certain distribution requirements—</ins> <ins>Section 4940 of such Code is amended by striking subsection (e).</ins>
- (c) <ins>Effective date—</ins> <ins>The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.</ins>
- <del>The budgetary effects of this Act shall not be entered on either PAYGO scorecard maintained pursuant to section 4(d) of the Statutory Pay-As-You-Go Act of 2010.</del>

## Sec. 3 Budgetary effects — added

- <ins>The budgetary effects of this Act shall not be entered on either PAYGO scorecard maintained pursuant to section 4(d) of the Statutory Pay-As-You-Go Act of 2010.</ins>