,i  #aaf? ,,congress  #a/ ,session  ,h4 
,r4 #diec  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,octob] #ca1 #bjai,mr4
 ,danny ,k4 ,davis ( ,ill9ois 7= himself
 & ,mr4 ,hold+7 introduc$ ! foll[+ bill2
 :i* 0 ref]r$ to ! ,committee on ,ways &
 ,means  ,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 ( #bjai4  #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+ #a4ci 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