,,ib  ,union ,cal5d> ,no4 #cgj  #aac?   
,,congress  #b;d ,session  ,h4 ,r4 #dfia
  ,report ,no4 #aac-dig  ,,9 ,,! ,,h\se 
,,( ,,repres5tatives  ,may #bj1 #bjad   
,mr4 ,pauls5 7= himself & ,mr4 ,danny   
,k4 ,davis ( ,ill9ois7 introduc$ !      
foll[+ bill2 :i* 0 ref]r$ to !          
,committee on ,ways & ,means  ,june #bf1
 #bjad ,additional sponsor3 ,mr4 ,re$   
,june #bf1 #bjad ,report$ ) an am5dm5t1 
committ$ to ! ,committee ( ! ,:ole ,h\se
 on ! ,/ate ( ! ,union1 & ord]$ to be   
pr9t$ ,/rike out all aft] ! enact+      
clause & ins]t ! "p pr9t$ 9 italic  ,a  
,,bill  ,to am5d ! ,int]nal ,rev5ue     
,code ( #aihf to modify ! tax rate =    
excise tax on inve/m5t income ( private 
f\ndations4  #a4 ,modification ( ! tax  
rate = ! excise tax on inve/m5t income (
 private f\ndations  7a7 ,9 g5]al       
,section #didj7;a7 ( ! ,int]nal ,rev5ue 
,code ( #aihf is am5d$ by /rik+ #b p]c5t
 & ins]t+ #a p]c5t4  7b7 ,elim9ation (  
r$uc$ tax :]e f\ndation meets c]ta9     
di/ribution requirem5ts ,section #didj (

 su* ,code is am5d$ by /rik+ subsection 
7e74  7c7 ,effective date ,! am5dm5ts   
made by ?is section %all apply to       
taxable ye>s beg9n+ aft] ! date ( !     
enactm5t ( ?is ,act4  #a4 ,%ort title   
,?is ,act may be cit$ z ! ,private      
,f\ndation ,excise ,tax ,simplification 
,act ( #bjad4  #b4 ,modification ( ! tax
 rate = ! excise tax on inve/m5t income 
( private f\ndations  7a7 ,9 g5]al      
,section #didj7;a7 ( ! ,int]nal ,rev5ue 
,code ( #aihf is am5d$ by /rik+ #b p]c5t
 & ins]t+ #a p]c5t4  7b7 ,elim9ation (  
r$uc$ tax :]e f\ndation meets c]ta9     
di/ribution requirem5ts ,section #didj (
 su* ,code is am5d$ by /rik+ subsection 
7e74  7c7 ,effective date ,! am5dm5ts   
made by ?is section %all apply to       
taxable ye>s beg9n+ aft] ! date ( !     
enactm5t ( ?is ,act4  ,june #bf1 #bjad  
,report$ ) an am5dm5t1 committ$ to !    
,committee ( ! ,:ole ,h\se on ! ,/ate ( 
! ,union1 & ord]$ to be pr9t$