HR 4907
114th Congress
House
Taxation
Charitable contributions
Employee benefits and pensions
Income tax exclusion
Social work, volunteer service, charitable organizations
Grow Philanthropy Act of 2016
Introduced: April 12, 2016
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 12, 2016
Referred to the House Committee on Ways and Means.
Apr 12, 2016
Introduced in House
Plain-English summary
Grow Philanthropy Act of 2016
This bill amends the Internal Revenue Code to exclude from the gross income of an individual who is at least 70-1/2 years of age up to $100,000 in distributions from an individual retirement plan to a donor-advised fund.
(A donor-advised fund is a fund or account that is separately identified by reference to contributions of a donor or donors. The account is owned and controlled by a sponsoring charitable organization, while the donor retains advisory privileges with respect to the distribution and investment of funds in the account.)
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1