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HR 4706 114th Congress House

Interest for Others Act of 2016

Official title: To amend the Internal Revenue Code of 1986 to exclude from gross income certain interest and money market fund dividend income payments to charity and to modif… Show full official titleShow less

Official title: To amend the Internal Revenue Code of 1986 to exclude from gross income certain interest and money market fund dividend income payments to charity and to modify the requirements relating to the reporting of such payments.

Introduced: November 14, 2016 See on congress.gov
Taxation Bank accounts, deposits, capitalCharitable contributionsIncome tax exclusionInterest, dividends, interest ratesTax administration and collection, taxpayers
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This bill died when the 114th Congress ended
It never became law before the 114th Congress (2015–2016) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 3, 2016
Referred to the House Committee on Ways and Means.
Mar 3, 2016
Introduced in House
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 Latest action March 3, 2016

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service

Interest for Others Act of 2016

This bill amends the Internal Revenue Code to allow individuals, trusts, or estates to exclude from gross income up to $50 of interest and money market fund dividend income that is contributed to charity using a program adopted by a financial institution or a money market fund.

Details regarding the payments to charities must be reported to the Internal Revenue Service by any person that: (1) pays certain interest or dividends and has a charitable contribution program, or (2) is an aggregator that receives contributions and makes payments to charities under a program.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 1 Republican 1
D
McCollum, Betty
Minnesota · Nov 14, 2016
 R
Emmer, Tom
Minnesota · Sep 6, 2016
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 4706: Interest for Others Act of 2016. 114th Congress. Open America. https://openamerica.io/bill/114-HR-4706/
MLA
"H.R. 4706: Interest for Others Act of 2016." 114th Congress, 2026, Open America, https://openamerica.io/bill/114-HR-4706/.
Bluebook (legal)
H.R. 4706, 114th Cong. (2026), https://openamerica.io/bill/114-HR-4706/.
Markdown link
[H.R. 4706: Interest for Others Act of 2016](https://openamerica.io/bill/114-HR-4706/)
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