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S 1605 111th Congress Senate Taxation Income tax deductions Social work, volunteer service, charitable organizations Tax administration and collection, taxpayers Transfer and inheritance taxes

A bill to amend the Internal Revenue Code of 1986 to reform the rules relating to fractional charitable donations of tangible personal property.

Introduced: August 6, 2009 Introduced by: Schumer, Charles E. Democratic · New York See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 6, 2009
Read twice and referred to the Committee on Finance.
Aug 6, 2009
Introduced in Senate
 Plain-English summary Congressional Research Service

Amends Internal Revenue Code provisions relating to the tax deduction for donations of fractional interests in tangible personal property to: (1) permit donors to claim an increased deduction based upon the market value of subsequent gifts of fractional interests; (2) extend to 20 years the period in which donors of fractional interests must contribute their entire interest in donated property; and (3) require donors of fractional interests greater than $1 million to attach a statement of value obtained from the Internal Revenue Service (IRS) to their tax returns.

What's happening now August 6, 2009

Read twice and referred to the Committee on Finance.

 Committees of jurisdiction 1