US HB3729 | 2011-2012 | 112th Congress
Status
Spectrum: Bipartisan Bill
Status: Introduced on December 19 2011 - 25% progression, died in committee
Action: 2011-12-19 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on December 19 2011 - 25% progression, died in committee
Action: 2011-12-19 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Amends the Internal Revenue Code to: (1) make permanent the tax deduction for charitable contributions of food inventory; (2) set forth rules for determining the basis and fair market value of contributed food; and (3) increase from 10% to 15% of taxpayer net income the amount of deductible food inventory contributions which a taxpayer, including a C corporation, may make in any taxable year.
Title
To amend the Internal Revenue Code of 1986 to permanently extend and expand the charitable deduction for contributions of food inventory.
Sponsors
| Rep. Geoff Davis [R-KY] | Rep. Rick Berg [R-ND] | Rep. Lloyd Doggett [D-TX] | Rep. Ron Kind [D-WI] |
| Rep. Sander Levin [D-MI] | Rep. Richard Neal [D-MA] | Rep. Charles Rangel [D-NY] | Rep. Dennis Ross [R-FL] |
| Rep. Steve Southerland [R-FL] | Sen. Peter Welch [D-VT] |
History
| Date | Chamber | Action |
|---|---|---|
| 2011-12-19 | House | Referred to the House Committee on Ways and Means. |
Same As/Similar To
SB166 (Related) 2011-01-25 - Read twice and referred to the Committee on Finance.
Subjects
Food assistance and relief
Income tax deductions
Social work, volunteer service, charitable organizations
Taxation
Income tax deductions
Social work, volunteer service, charitable organizations
Taxation
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/112th-congress/house-bill/3729/all-info |
| Text | https://www.congress.gov/112/bills/hr3729/BILLS-112hr3729ih.pdf |
