We don’t have a summary available yet.
The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Apr 15, 2015.
(This measure has not been amended since it was reported to the House on April 13, 2015. The summary of that version is repeated here.)
Fair Treatment for All Gifts Act
(Sec. 2) This bill amends the Internal Revenue Code to allow a deduction from the taxable amount of gifts for gifts made to specified tax-exempt organizations, including: (1) social welfare organizations; (2) labor, agricultural, and horticultural organizations; and (3) business leagues, chambers of commerce, real-estate boards, boards of trade, and professional football leagues. Declares that for purposes of the gift tax, a transfer of property to such organizations shall not be deemed to be a transfer by gift.