US Congress Senate Bill 1605 (Prior Session Legislation)

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Spectrum: Moderate Partisan Bill (Democrat 4-1)
Status: Introduced on August 6 2009 - 25% progression, died in chamber
Action: 2009-08-06 - Read twice and referred to the Committee on Finance.
Text: Latest bill text (Introduced) [PDF]

Amends Internal Revenue Code provisions relating to the tax deduction for donations of fractional interests in tangible personal property to: (1) permit donors to claim an increased deduction based upon the market value of subsequent gifts of fractional interests; (2) extend to 20 years the period in which donors of fractional interests must contribute their entire interest in donated property; and (3) require donors of fractional interests greater than $1 million to attach a statement of value obtained from the Internal Revenue Service (IRS) to their tax returns.

A bill to amend the Internal Revenue Code of 1986 to reform the rules relating to fractional charitable donations of tangible personal property.

Sen. Johnny Isakson [R-GA]	Sen. John Kerry [D-MA]	Sen. Bill Nelson [D-FL]	Sen. Charles Schumer [D-NY]
Sen. Tom Udall [D-NM]

Date	Chamber	Action
2009-08-06		Read twice and referred to the Committee on Finance.

Type	Source
Summary	https://www.congress.gov/bill/111th-congress/senate-bill/1605/all-info
Text	https://www.congress.gov/111/bills/s1605/BILLS-111s1605is.pdf