HR 2502
112th Congress
House
Taxation
Employee benefits and pensions
Income tax exclusion
Social work, volunteer service, charitable organizations
Public Good IRA Rollover Act of 2011
Introduced: July 12, 2011
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 12, 2011
Referred to the House Committee on Ways and Means.
Jul 12, 2011
Introduced in House
Plain-English summary
Public Good IRA Rollover Act of 2011 - Amends the Internal Revenue Code to revise the tax exclusion of distributions from individual retirement accounts (IRAs) for charitable purposes to: (1) make such exclusion permanent; (2) eliminate the $100,000 cap on such exclusion; (3) 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 (4) 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).
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1