,i  #aacth ,,congress  #b;d ,session    
,h4 ,r4 #dfia  ,,in ,,the ,,house ,,of  
,,representatives  ,may #bj1 #bjad ,mr4 
,paulsen 7for himself and ,mr4 ,danny   
,k4 ,davis of ,illinois7 introduced the 
following bill2 which was referred to   
the ,committee on ,ways and ,means  ,a  
,,bill  ,to amend the ,internal ,revenue
 ,code of #aihf to modify the tax rate  
for excise tax on investment income of  
private foundations4  #a4 ,modification 
of the tax rate for the excise tax on   
investment income of private foundations
  7a7 ,in general ,section #didj7;a7 of 
the ,internal ,revenue ,code of #aihf is
 amended by striking #b percent and     
inserting #a percent4  7b7 ,elimination 
of reduced tax where foundation meets   
certain distribution requirements       
,section #didj of such ,code is amended 
by striking subsection 7e74  7c7        
,effective date ,the amendments made by 
this section shall apply to taxable     
years beginning after the date of the   
enactment of this ,act4