America Gives More Act of 2014

Bill: 113-hr-4719
Sponsor: Rep. Reed, Tom [R-NY-23]
Introduced: 2014-05-22 in the House
Policy area: Taxation
Subjects: Alaska
Charitable contributions
Employee benefits and pensions
Financial services and investments
Food assistance and relief
Income tax deductions
Indian lands and resources rights
Land use and conservation
Sales and excise taxes
Social work, volunteer service, charitable organizations
Tax administration and collection, taxpayers
Tax-exempt organizations

Summary:
action_date: 2014-05-22
text: 
Fighting Hunger Incentive Act of 2014 - Amends the Internal Revenue Code to: (1) make permanent the tax deduction for charitable contributions of food inventory, (2) increase from 10% to 15% of taxpayer aggregate net income the amount of deductible food inventory contributions which a taxpayer may make in any taxable year (15% of the taxable income of C corporations), and (3) set forth rules for determining the basis of contributed food for taxpayers other than C corporations and the fair market value of such food.

action_date: 2014-06-26
text: 
Fighting Hunger Incentive Act of 2014 - Amends the Internal Revenue Code to: (1) make permanent the enhanced tax deduction for charitable contributions of food inventory; (2) increase from 10% to 15% of the aggregate net income of taxpayers other than C corporations the amount of deductible food inventory contributions which such taxpayers may make in any taxable year (for a C corporation, 15% of its taxable income); (3) permit a taxpayer who is not required to account for inventories or capitalize indirect costs to elect, solely for purposes of computing the amount of the deduction, to treat the basis of any apparently wholesome food (as defined in the Bill Emerson Good Samaritan Food Donation Act) as equal to 25% of the fair market value of such food; and (4) set forth a formula for determining the fair market value of such food.

action_date: 2014-07-17
text: 
America Gives More Act of 2014 - Amends the Internal Revenue Code to: (1) make permanent the enhanced tax deduction for charitable contributions of food inventory; (2) increase from 10% to 15% of the aggregate net income of taxpayers other than C corporations the amount of deductible food inventory contributions which such taxpayers may make in any taxable year (for a C corporation, 15% of its taxable income); (3) permit a taxpayer who is not required to account for inventories or capitalize indirect costs, to elect, solely for purposes of computing the amount of the deduction, to treat the basis of any apparently wholesome food (as defined in the Bill Emerson Good Samaritan Food Donation Act) as equal to 25% of the fair market value of such food; and (4) set forth a formula for determining the fair market value of such food.
 
Makes permanent: (1) tax-free distributions from individual retirement accounts (IRAs) for charitable purposes, and (2) the tax deduction for charitable contributions by individuals and corporations of real property interests for conservation purposes.
 
Allows taxpayers to treat a charitable contribution made after the close of the taxable year but before the due date of the tax return as being made in such taxable year. 
 
 Reduces from 2% to 1% the excise tax rate on the net investment income of tax-exempt private foundations. Repeals the 1% reduction in such tax rate for private foundations that meet certain distribution requirements.
 
Prohibits the entry of the budgetary effects of this Act on any PAYGO (pay-as-you-go) scorecard. 
 


Legislative actions:
action_date: 2014-07-23
text: Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 477.
action_date: 2014-07-22
text: Received in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
action_date: 2014-07-17
text: On passage Passed by the Yeas and Nays: 277 - 130 (Roll no. 432). (text: CR H6364-6365)
action_date: 2014-07-17
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2014-07-17
text: Passed/agreed to in House: On passage Passed by the Yeas and Nays: 277 - 130 (Roll no. 432).(text: CR H6364-6365)
action_date: 2014-07-17
text: On motion to recommit with instructions Failed by the Yeas and Nays: 185 - 227 (Roll no. 431). (consideration: CR H6377-4378)
action_date: 2014-07-17
text: The previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H6377)
action_date: 2014-07-17
text: DEBATE - The House proceeded with 10 minutes of debate on the Van Hollen motion to recommit with instructions pending a reseravation of a point of order. The instructions contained in the motion seek to require the bill to be reported to the House with an amendment to extend the three existing charitable tax extenders and two new charitable tax provisions in the underlying bill for only two additional years, through the end of 2015, as opposed to the permanent extension costing $16 billion in the underlying bill. It would prevent these five tax cuts from permanently adding to the deficit, undermining comprehensive tax reform, and putting further pressure on the United States discretionary priorities. Additionally, the motion would deny any claiming of these five charitable tax provisions by inverted corporations that change their residence from the United States in order to avoid paying U.S. taxes. Subsequently, the point                of order was withdrawn.
action_date: 2014-07-17
text: Mr. Van Hollen moved to recommit with instructions to the Committee on Ways and Means. (consideration: CR H6375-6378; text:  CR H6375-6376)
action_date: 2014-07-17
text: The previous question was ordered pursuant to the rule. (consideration: CR H6375)
action_date: 2014-07-17
text: DEBATE - The House proceeded with one hour of debate on H.R. 4719.
action_date: 2014-07-17
text: Rule provides for consideration of H.R. 4719 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. The rule provides that the amendment in the nature of a substitute consisting of the text of Rules Committee Print 113-51 shall be considered as adopted and the bill, as amended, shall be considered as read.
action_date: 2014-07-17
text: Considered under the provisions of rule H. Res. 670. (consideration: CR H6364-6378)
action_date: 2014-07-17
text: Rule H. Res. 670 passed House.
action_date: 2014-07-15
text: Rules Committee Resolution H. Res. 670 Reported to House. Rule provides for consideration of H.R. 4719 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. The rule provides that the amendment in the nature of a substitute consisting of the text of Rules Committee Print 113-51 shall be considered as adopted and the bill, as amended, shall be considered as read.
action_date: 2014-06-26
text: Placed on the Union Calendar, Calendar No. 371.
action_date: 2014-06-26
text: Reported (Amended) by the Committee on Ways and Means. H. Rept. 113-498.
action_date: 2014-06-26
text: Reported (Amended) by the Committee on Ways and Means. H. Rept. 113-498.
action_date: 2014-05-29
text: Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 23 - 13.
action_date: 2014-05-29
text: Committee Consideration and Mark-up Session Held.
action_date: 2014-05-22
text: Referred to the House Committee on Ways and Means.
action_date: 2014-05-22
text: Introduced in House
action_date: 2014-05-22
text: Introduced in House