| NEWS REPORTS | |
| Reports on Congressional actions related to foundations | |
| 4/14/2005 - The House Ways and Means Committee will hold hearings to explore the tax-exempt sector. For information about this hearing, scheduled for April 20, 2005, click http://waysandmeans.house.gov/hearings.html?formmode=view&id=2589 or here for a pdf version of the announcement. |
| 2/6/2005 - Things are relatively quiet on the Congressional scene in the context of legislation or hearings that may impact foundations. Very little public information has been reported by the U.S. Senate’s Committee on Finance since the June 22, 2004, hearing titled “Charity Oversight and Reform: Keeping Bad Things from Happening to Good Charities.” For details see: http://finance.senate.gov/sitepages/hearing062204.htm |
| 2/6/2005 - A staff paper from the Senate Committee on Finance that influenced these hearings and that provided a basis for discussion of reforms within the charitable foundation universe can be found at: http://finance.senate.gov/hearings/testimony/2004test/062204stfdis.pdf |
| 2/6/2005 - Similarly, the House Committee on Ways and Means has not
held hearings or proposed new legislation impacting charitable
organizations since the passage of the “Charitable Giving Act of 2003
(HR 7)” on September 17, 2003. HR 7 was not passed by the Senate. For a
summary of this legislation see: http://waysandmeans.house.gov/news.html?FormMode=release&id=121&keywords=charitable+foundations |
| 2/6/2005 - On January 27, 2005 the staff of the House-Senate Joint
Committee on Taxation published a report entitled “Options to Improve
Tax Compliance and Reform Tax Expenditures.” Section VIII. Exempt
Organizations of this report (pp. 220-367) lists twelve options that may
have impact on public charities and/or private foundations if enacted
into law. This report can be seen via a pdf file at: http://www.house.gov/jct/s-2-05.pdf |
| The Christian Foundation Center of America will monitor congressional action and interest and will provide you with information of value as it becomes available. |