A bill to amend the Internal Revenue Code of 1986 to repeal the increase in unrelated business taxable income by amount of certain fringe benefit expenses.
About This Bill
Committee
Latest Action · February 14, 2019
Read twice and referred to the Committee on Finance.
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%.
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