S 1817
115th Congress
Senate
Taxation
Charitable contributions
Employee benefits and pensions
Income tax exclusion
Social work, volunteer service, charitable organizations
Public Good IRA Rollover Act of 2017
Introduced: September 14, 2017
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 14, 2017
Read twice and referred to the Committee on Finance.
Sep 14, 2017
Introduced in Senate
Plain-English summary
Public Good IRA Rollover Act of 2017
This bill amends the Internal Revenue Code to revise the tax exclusion for distributions from individual retirement accounts (IRAs) for charitable purposes to: (1) eliminate the $100,000 cap on such exclusion; (2) 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 (3) 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
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1