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S. 3125: A bill to amend the Internal Revenue Code of 1986 to allow for contributions to the Alzheimer’s Research and Caregiving Trust Fund, and for other purposes.


The text of the bill below is as of Dec 19, 2019 (Introduced).


II

116th CONGRESS

1st Session

S. 3125

IN THE SENATE OF THE UNITED STATES

December 19, 2019

introduced the following bill; which was read twice and referred to the Committee on Finance

A BILL

To amend the Internal Revenue Code of 1986 to allow for contributions to the Alzheimer’s Research and Caregiving Trust Fund, and for other purposes.

1.

Alzheimer’s Research and Caregiving Trust Fund

(a)

In general

Subchapter A of chapter 98 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section:

9512.

Alzheimer’s Research and Caregiving Trust Fund

(a)

Creation of trust fund

There is established in the Treasury of the United States a trust fund to be known as the Alzheimer’s Research and Caregiving Trust Fund (referred to in this section as the Trust Fund), consisting of such amounts as may be appropriated or credited to such Trust Fund as provided in this section or section 9602(b).

(b)

Transfers to Trust Fund

There are hereby appropriated to the Trust Fund amounts equivalent to the amounts contributed under section 6097.

(c)

Expenditures

(1)

In general

Subject to paragraph (2), amounts in the Trust Fund shall be available, without further appropriation, as follows:

(A)

Fifty percent to the National Institutes of Health to conduct or support research regarding the treatment or cure of Alzheimer’s disease pursuant to the Alzheimer’s Disease and Related Dementias Research Act of 1992.

(B)

Fifty percent to the Administration on Aging for education, counseling, respite, and other supportive services under the Older Americans Act of 1965 for the benefit of individuals with Alzheimer's disease and their families, caregivers, and health care professionals.

(2)

Additional funding

The amounts made available under paragraph (1) shall be—

(A)

in addition to any other amounts appropriated to the National Institutes of Health or the Administration on Aging for any purposes described in such paragraph under any other provisions of law, and

(B)

used to supplement and not supplant such other amounts.

.

(b)

Clerical amendment

The table of sections for subchapter A of chapter 98 of the Internal Revenue Code of 1986 is amended by adding at the end the following new item:

Sec. 9512. Alzheimer’s Research and Caregiving Trust Fund.

.

2.

Contribution to the Alzheimer’s Research and Caregiving Trust Fund

(a)

In general

Subchapter A of chapter 61 of the Internal Revenue Code of 1986 is amended by adding at the end the following new part:

IX

Contribution to the Alzheimer’s Research and Caregiving Trust Fund

Sec. 6097. Contribution to the Alzheimer’s Research and Caregiving Trust Fund.

6097.

Contribution to the Alzheimer’s Research and Caregiving Trust Fund

Every individual may elect, at the time of filing the return of the tax imposed by chapter 1, to contribute a whole dollar amount to be paid over to the Alzheimer’s Research and Caregiving Trust Fund.

.

(b)

Clerical amendment

The table of parts for subchapter A of chapter 61 of the Internal Revenue Code of 1986 is amended by adding at the end the following new item:

Part IX. Contribution to the Alzheimer’s Research and Caregiving Trust Fund

.

(c)

Effective date

The amendments made by this section shall apply to taxable years ending after December 31, 2019.