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S. 908 (114th): Charitable Agricultural Research Act


The text of the bill below is as of Apr 14, 2015 (Placed on Calendar in the Senate). The bill was not enacted into law.


II

Calendar No. 42

114th CONGRESS

1st Session

S. 908

[Report No. 114–19]

IN THE SENATE OF THE UNITED STATES

April 14, 2015

, from the Committee on Finance, reported the following original bill; which was read twice and placed on the calendar

A BILL

To amend the Internal Revenue Code of 1986 to provide for the deductibility of charitable contributions to agricultural research organizations, and for other purposes.

1.

Short title

This Act may be cited as the Charitable Agricultural Research Act.

2.

Deductibility of charitable contributions to agricultural research organizations

(a)

In general

Subparagraph (A) of section 170(b)(1) of the Internal Revenue Code of 1986 is amended by striking or at the end of clause (vii), by striking the comma at the end of clause (viii) and inserting , or, and by inserting after clause (viii) the following new clause:

(ix)

an agricultural research organization directly engaged in the continuous active conduct of agricultural research (as defined in section 1404 of the Agricultural Research, Extension, and Teaching Policy Act of 1977) in conjunction with a land-grant college or university (as defined in such section) or a non-land grant college of agriculture (as defined in such section), and during the calendar year in which the contribution is made such organization is committed to spend such contribution for such research before January 1 of the fifth calendar year which begins after the date such contribution is made,

.

(b)

Expenditures To influence legislation

Paragraph (4) of section 501(h) of the Internal Revenue Code of 1986 is amended by redesignating subparagraphs (E) and (F) as subparagraphs (F) and (G), respectively, and by inserting after subparagraph (D) the following new subparagraph:

(E)

section 170(b)(1)(A)(ix) (relating to agricultural research organizations),

.

(c)

Effective date

The amendments made by this section shall apply to contributions made on and after the date of the enactment of this Act.

3.

Increase in continuous levy for Medicare providers and suppliers

(a)

In general

Paragraph (3) of section 6331(h) of the Internal Revenue Code of 1986 is amended by striking 30 percent and inserting 35 percent.

(b)

Effective date

The amendment made by this section shall apply to payments made after 180 days after the date of the enactment of this Act.

April 14, 2015

Read twice and placed on the calendar