US HB894 | 2017-2018 | 115th Congress
Status
Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on February 6 2017 - 25% progression, died in committee
Action: 2017-02-06 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on February 6 2017 - 25% progression, died in committee
Action: 2017-02-06 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Interest for Others Act of 2017 This bill amends the Internal Revenue Code to allow individuals, trusts, or estates to exclude from gross income up to $50 per year 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.
Title
Interest for Others Act of 2017
Sponsors
| Rep. Erik Paulsen [R-MN] | Rep. Kristi Noem [R-SD] |
History
| Date | Chamber | Action |
|---|---|---|
| 2017-02-06 | House | Referred to the House Committee on Ways and Means. |
| 2017-02-06 | House | Introduced in House |
Subjects
Bank accounts, deposits, capital
Charitable contributions
Income tax exclusion
Interest, dividends, interest rates
Tax administration and collection, taxpayers
Taxation
Charitable contributions
Income tax exclusion
Interest, dividends, interest rates
Tax administration and collection, taxpayers
Taxation
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/115th-congress/house-bill/894/all-info |
| Text | https://www.congress.gov/115/bills/hr894/BILLS-115hr894ih.pdf |
