Nonprofits Support Act

I 116TH CONGRESS 1ST SESSION H. R. 513 To amend the Internal Revenue Code of 1986 to repeal certain rules related to the determination of unrelated business taxable income. IN THE HOUSE OF REPRESENTATIVES JANUARY 11, 2019 Mr. CONAWAY introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to repeal certain rules related to the determination of unrelated business taxable income. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. SHORT TITLE. 3 This Act may be cited as the ‘‘Nonprofits Support 4 Act’’. 5 VerDate Sep 11 2014 23:40 Jan 25, 2019 Jkt 089200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H513.IH H513 pamtmann on DSKBFK8HB2PROD with BILLS 2 •HR 513 IH SEC. 2. REPEAL OF REQUIREMENT THAT UNRELATED BUSI- 1 NESS TAXABLE INCOME BE COMPUTED SEPA- 2 RATELY FOR EACH TRADE OR BUSINESS AC- 3 TIVITY. 4 (a) IN GENERAL.—Section 512(a) of the Internal 5 Revenue Code of 1986 is amended by striking paragraph 6 (6). 7 (b) EFFECTIVE DATE.—The amendment made by 8 this section shall take effect as if included in section 9 13702 of Public Law 115–97. 10 SEC. 3. REPEAL OF INCREASE OF UNRELATED BUSINESS 11 TAXABLE INCOME BY CERTAIN DISALLOWED 12 FRINGE BENEFITS. 13 (a) IN GENERAL.—Section 512(a) of the Internal 14 Revenue Code of 1986 is amended by striking paragraph 15 (7). 16 (b) EFFECTIVE DATE.—The amendment made by 17 this section shall take effect as if included in section 18 13703 of Public Law 115–97. 19 Æ VerDate Sep 11 2014 23:40 Jan 25, 2019 Jkt 089200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\H513.IH H513 pamtmann on DSKBFK8HB2PROD with BILLS