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H.R. 6037 - Nonprofits Support Act

Introduced: 2018-06-07
Bill Status: Referred to the House Committee on Ways and Means.
 
Summary Not Available

Full Text


115th CONGRESS
2d Session
H. R. 6037


    To amend the Internal Revenue Code of 1986 to repeal certain rules related to the determination of unrelated business taxable income.


IN THE HOUSE OF REPRESENTATIVES

June 7, 2018

    Mr. Conaway introduced the following bill; which was referred to the Committee on Ways and Means


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 “Nonprofits Support 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.


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