I 115th CONGRESS 1st Session H. R. 3035 IN THE HOUSE OF REPRESENTATIVES June 23, 2017 Mr. Reichert (for himself, Mr. Larson of Connecticut , Mr. Tiberi , Mr. Kelly of Pennsylvania , Mr. Rice of South Carolina , Mr. Paulsen , Mr. Holding , Mr. Smith of Missouri , Ms. Jenkins of Kansas , Mr. Frelinghuysen , Mr. Higgins of New York , Ms. Esty of Connecticut , and Mr. Calvert ) 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 exempt private foundations from the tax on excess business holdings in the case of certain philanthropic enterprises which are independently supervised, and for other purposes.