US Congress Senate Bill 1159 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on April 30 2015 - 25% progression, died in committee
Action: 2015-04-30 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Public Good IRA Rollover Act of 2015 Amends the Internal Revenue Code to revise the tax exclusion of distributions from individual retirement accounts (IRAs) for charitable purposes to: (1) make such exclusion permanent; (2) eliminate the $100,000 cap on such exclusion; (3) 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 (4) 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).

Public Good IRA Rollover Act of 2015

Sen. Charles Schumer [D-NY]	Sen. Susan Collins [R-ME]	Sen. Kirsten Gillibrand [D-NY]	Sen. Thad Cochran [R-MS]
Sen. Debbie Stabenow [D-MI]

Date	Chamber	Action
2015-04-30	Senate	Read twice and referred to the Committee on Finance.

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/senate-bill/1159/all-info
Text	https://www.congress.gov/114/bills/s1159/BILLS-114s1159is.pdf