Lessen Impediments From Taxes for Charities Act or the LIFT for Charities 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.
| Action Date | Type | Text | Source |
|---|---|---|---|
| 2019-02-28 | IntroReferral | Read twice and referred to the Committee on Finance. | Senate |
| 2019-02-28 | IntroReferral | Introduced in Senate | Library of Congress |