IN THE SENATE OF THE UNITED STATES
February 28, 2019
Mr. Lankford (for himself and Mr. Coons) introduced the following bill; which was read twice and referred to the Committee on Finance
To amend the Internal Revenue Code of 1986 to repeal the inclusion of certain fringe benefit expenses for which a deduction is disallowed in unrelated business taxable income.
This Act may be cited as the
Lessen Impediments From Taxes for Charities Act or the
LIFT for Charities Act.
Repeal of inclusion of certain fringe benefit expenses in unrelated business taxable income
Section 512(a) of the Internal Revenue Code of 1986 is amended by striking paragraph (7).
The amendment made by this section shall take effect as if included in the amendments made by section 13703 of Public Law 115–97.