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‘‘(15) 
CONTRIBUTIONS
OF
CLOTHING
AND
HOUSEHOLD ITEMS.—
‘‘(A) IN GENERAL.—In the case of an indi-
vidual, partnership, or S corporation, the deduc-
tion allowed under subsection (a) for any con-
tribution of clothing or household items with re-
spect to which the donor has not obtained a
qualified appraisal shall be—
‘‘(i) in the case of an item which is in
good used condition or better, no more than
the amount assigned to such item under
subparagraph (B) for such year,
‘‘(ii) except as provided by clause (iii),
in the case of an item which is not in good
used condition or better, no more than 20
percent of the amount assigned to such item
under subparagraph (B) for such year, and
‘‘(iii) in the case of an item which is
not functional with respect to the use for
which it was designed, zero.
‘‘(B) ASSIGNED
VALUES.—Each year the
Secretary shall publish an itemized list of cloth-
ing and household items and shall assign an
amount with respect to each item on the list
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which represents the fair market value of such
item in good used condition.
‘‘(C) EXCEPTION FOR ITEMS SOLD BY THE
DONEE.—Subparagraph (A) shall not apply to
any contribution of clothing or household items
for which a deduction of more than $500 is
claimed if—
‘‘(i) the donee sells the clothing or
household items before the earlier of—
‘‘(I) the due date (including exten-
sions) for filing the return of tax for
the taxable year of the donor in which
the contribution was made, or
‘‘(II) the date on which such re-
turn was filed,
‘‘(ii) the donee reports the sales price of
the clothing or household items to the donor,
and
‘‘(iii) the amount claimed as a deduc-
tion with respect to such clothing or house-
hold items does not exceed the amount of the
sales price reported to the donor.
‘‘(D) HOUSEHOLD ITEMS.—For purposes of
this paragraph—
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‘‘(i) IN
GENERAL.—The term ‘house-
hold items’ includes furniture, furnishings,
electronics, appliances, linens, and other
similar items.
‘‘(ii) EXCLUDED
ITEMS.—Such term
does not include—
‘‘(I) food,
‘‘(II) paintings, antiques, and
other objects of art,
‘‘(III) jewelry and gems, and
‘‘(IV) collections.
‘‘(E) SPECIAL RULE FOR PASS-THRU ENTI-
TIES.—In the case of a partnership or S cor-
poration, this paragraph shall be applied at the
entity level, except that the deduction shall be de-
nied at the partner or shareholder level.’’.
(b) SUBSTANTIATION.—
(1) ITEMS
OF
$250
OR
MORE.—Subparagraph
(B) of section 170(f)(8) is amended by inserting after
clause (iii) the following new clause:
‘‘(iv) In the case of a contribution con-
sisting of clothing or household items, the
number of items contributed, an indication
of the condition of each item, a description
of the type of item contributed, and a copy
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of the list published under paragraph
(15)(B) or an instruction on how to obtain
such list.’’.
(2) ITEMS
OF
$500
OR
MORE.—Subparagraph
(B) of section 170(f)(11) is amended by inserting ‘‘,
the information contained in the acknowledgment re-
quired under paragraph (8) in the case of any con-
tribution of clothing or household items,’’ after ‘‘a de-
scription of such property’’.
(c) EFFECTIVE DATE.—The amendments made by this
section shall apply to contributions made after December
31, 2006.
SEC. 218. MODIFICATION OF RECORDKEEPING REQUIRE-
MENTS 
FOR 
CERTAIN 
CHARITABLE 
CON-
TRIBUTIONS.
(a) RECORDKEEPING REQUIREMENT.—Subsection (f)
of section 170, as amended by this Act, is amended by add-
ing at the end the following new paragraph:
‘‘(16) RECORDKEEPING.—No deduction shall be
allowed under subsection (a) for any contribution of
a cash, check, or other monetary gift unless the donor
maintains as a record of such contribution—
‘‘(A) a cancelled check, or
‘‘(B) a receipt or a letter or other written
communication from the donee showing the name
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of the donee organization, the date of the con-
tribution, and the amount of the contribution.’’.
(b) EFFECTIVE DATE.—The amendment made by this
section shall apply to contributions made in taxable years
beginning after the date of the enactment of this Act.
SEC. 219. CONTRIBUTIONS OF FRACTIONAL INTERESTS IN
TANGIBLE PERSONAL PROPERTY.
(a) INCOME TAX.—Section 170 (relating to charitable,
etc., contributions and gifts), as amended by this Act, is
amended by redesignating subsection (p) as subsection (q)
and by inserting after subsection (o) the following new sub-
section:
‘‘(p) SPECIAL RULES FOR FRACTIONAL GIFTS.—
‘‘(1) VALUATION OF SUBSEQUENT GIFTS.—
‘‘(A) IN GENERAL.—In the case of any ad-
ditional contribution, the fair market value of
such contribution shall be determined by using
the lesser of—
‘‘(i) the fair market value of the prop-
erty at the time of the initial fractional
contribution, or
‘‘(ii) the fair market value of the prop-
erty at the time of the additional contribu-
tion.