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H.R. 637 (114th): Permanent IRA Charitable Contribution Act of 2015


The text of the bill below is as of Feb 9, 2015 (Reported by House Committee). The bill was not enacted into law.


IB

Union Calendar No. 14

114th CONGRESS

1st Session

H. R. 637

[Report No. 114–20, Part I]

IN THE HOUSE OF REPRESENTATIVES

February 2, 2015

(for himself and Mr. Blumenauer) introduced the following bill; which was referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned

February 9, 2015

Additional sponsors: Mr. Costello of Pennsylvania and Mr. Reed

February 9, 2015

Reported from the Committee on Ways and Means with an amendment

Strike out all after the enacting clause and insert the part printed in italic

February 9, 2015

The Committee on the Budget discharged; committed to the Committee of the Whole House on the State of the Union and ordered to be printed

For text of introduced bill, see copy of bill as introduced on February 2, 2015


A BILL

To amend the Internal Revenue Code of 1986 to make permanent the rule allowing certain tax-free distributions from individual retirement accounts for charitable purposes.


1.

Short title

This Act may be cited as the Permanent IRA Charitable Contribution Act of 2015.

2.

Rule allowing certain tax-free distributions from individual retirement accounts for charitable purposes made permanent

(a)

In general

Section 408(d)(8) of the Internal Revenue Code of 1986 is amended by striking subparagraph (F).

(b)

Effective date

The amendment made by this section shall apply to distributions made in taxable years beginning after December 31, 2014.

3.

Budgetary effects

The budgetary effects of this Act shall not be entered on either PAYGO scorecard maintained pursuant to section 4(d) of the Statutory Pay-As-You-Go Act of 2010.

February 9, 2015

Reported from the Committee on Ways and Means with an amendment

February 9, 2015

The Committee on the Budget discharged; committed to the Committee of the Whole House on the State of the Union and ordered to be printed