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

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The text of the bill below is as of Feb 2, 2015 (Introduced).

I

114th CONGRESS

1st Session

H. R. 637

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

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.

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.

2.

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.