,i  #aae? ,,congress  #a/ ,session  ,h4 
,r4 #bchf  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,may #d1 #bjag,mr4    
,pauls5 7= himself1 ,mr4 ,danny ,k4     
,davis ( ,ill9ois1 ,mr4 ,tib]i1 ,mr4    
,hold+1 & ,mr4 ,nolan7 introduc$ !      
foll[+ bill2 :i* 0 ref]r$ to !          
,committee on ,ways & ,means1 & 9       
addition to ! ,committee on ! ,budget1 =
 a p]iod to be subsequ5tly det]m9$ by ! 
,speak]1 9 ea* case = consid]ation ( su*
 provisions z fall )9 ! jurisdiction ( !
 committee conc]n$  ,a ,,bill  ,to am5d 
! ,int]nal ,rev5ue ,code ( #aihf to     
modify ! tax rate = excise tax on       
inve/m5t income ( private f\ndations4   
#a4 ,%ort title ,?is ,act may be cit$ z 
! ,private ,f\ndation ,excise ,tax      
,simplification ,act ( #bjag4  #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  #c4 ,budget>y     
effects ,! budget>y effects ( ?is ,act  
%all n be ent]$ on ei!r ,,paygo scorec>d
 ma9ta9$ pursuant to section #d7;d7 ( ! 
,/atutory ,pay-,z-,y-,g ,act ( #bjaj4