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S. 2530: Charitable Equity for Veterans Act of 2021


The text of the bill below is as of Jul 29, 2021 (Introduced).


II

117th CONGRESS

1st Session

S. 2530

IN THE SENATE OF THE UNITED STATES

July 29, 2021

(for himself and Ms. Duckworth) 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 provide for the deductibility of charitable contributions to certain organizations for members of the Armed Forces.

1.

Short title

This Act may be cited as the Charitable Equity for Veterans Act of 2021.

2.

Deductibility of charitable contributions to certain organizations for members of the Armed Forces

(a)

In general

(1)

Definition of a charitable contribution

Section 170(c) of the Internal Revenue Code of 1986 is amended by inserting after paragraph (5) the following new paragraph:

(6)

An organization described in section 501(c)(19) that is a federally chartered corporation.

.

(2)

Percentage limitation

Section 170(b)(1)(A) of the Internal Revenue Code of 1986 is amended by striking or at the end of clause (viii), by adding or at the end of clause (ix), and by adding at the end the following new clause:

(x)

an organization described in section 501(c)(19) that is a federally chartered corporation,

.

(b)

Effective date

The amendments made by this section shall apply with respect to taxable years beginning after the date of enactment of this Act.