S 931
112th 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: May 10, 2011
Introduced by:
Schumer, Charles E.
Democratic
· New York
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 10, 2011
Read twice and referred to the Committee on Finance.
May 10, 2011
Introduced in Senate
Plain-English summary
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
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1
Cosponsors
1