Word: tax-exempt
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...started simply enough: a tax-exempt corporation had purchased some of the most valuable property in the area. The loss to the tax base was substantial, and it threatened the provision of basic services. The dispute was followed by others like it, and the controversy quickly became a hot political issue. Finally, the government stepped in and started to consider legislation that would restrict the ability of non-profits to buy property tax-free...
Members of Congress have proposed a host of bills to fix that, by giving Amtrak and the states anywhere from $20 billion to $70 billion in tax-exempt bonds and loan guarantees. But despite a diverse coalition of passenger-rail supporters, from Senate majority leader Tom Daschle to his Republican counterpart Trent Lott, it's unlikely that Amtrak will control all the funding or that it will survive much longer in its current form...
...Members of Congress have proposed a host of bills to fix that, by giving Amtrak and the states anywhere from $20 billion to $70 billion in tax-exempt bonds and loan guarantees. But despite a diverse coalition of passenger-rail supporters, from Senate majority leader Tom Daschle to his Republican counterpart Trent Lott, it's unlikely that Amtrak will control all the funding or that it will survive much longer in its current form...
Broader than it is deep, GuideStar's free database doesn't exactly allow visitors to run their own audit, but it enables analysts to compare charities with their counterparts and helps the IRS develop profiles of tax-exempt organizations that could be up to no good. One red flag: more than a fourth of the 990s submitted in 1997 and 1998 reported zero fund-raising costs, as unlikely as money growing on trees...
...They were given it, and it can be taken away,” Williamson says of the University’s tax-exempt status. “Who’s afraid of the big, bad wolf...