US HB4907 | 2015-2016 | 114th Congress
Status
Spectrum: Bipartisan Bill
Status: Introduced on April 12 2016 - 25% progression, died in committee
Action: 2016-04-12 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on April 12 2016 - 25% progression, died in committee
Action: 2016-04-12 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
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.)
Title
Grow Philanthropy Act of 2016
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2016-04-12 | House | Referred to the House Committee on Ways and Means. |
| 2016-04-12 | House | Introduced in House |
Same As/Similar To
SB2750 (Related) 2016-04-06 - Read twice and referred to the Committee on Finance.
Subjects
Charitable contributions
Employee benefits and pensions
Income tax exclusion
Social work, volunteer service, charitable organizations
Taxation
Employee benefits and pensions
Income tax exclusion
Social work, volunteer service, charitable organizations
Taxation
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/114th-congress/house-bill/4907/all-info |
| Text | https://www.congress.gov/114/bills/hr4907/BILLS-114hr4907ih.pdf |
