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S. 1817 (115th): Public Good IRA Rollover Act of 2017

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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Sep 14, 2017.


Public Good IRA Rollover Act of 2017

This bill amends the Internal Revenue Code to revise the tax exclusion for distributions from individual retirement accounts (IRAs) for charitable purposes to: (1) eliminate the $100,000 cap on such exclusion; (2) permit tax-free distributions from IRAs to a split-interest entity (i.e., a charitable remainder annuity or unitrust, a pooled income fund, and a charitable gift annuity); and (3) allow distributions to a split-interest entity to be made when the account beneficiary attains age 59-1/2 (otherwise, age 70-1/2 for IRA distributions to a charitable organization).