Permanent IRA Charitable Contribution Act of 2015

Bill: 114-hr-637
Sponsor: full_name: Rep. Schock, Aaron [R-IL-18]
Introduced: 2015-02-02
Policy area: Taxation
Subjects: Charitable contributions

Employee benefits and pensions

Income tax exclusion
Latest action: action_date: 2015-04-23
text: COSPONSOR AUTHORITY - Mr. Paulsen asked unanimous consent that he may hereafter be considered as the first sponsor of H.R. 637, a bill originally introduced by Rep. Schock of Illinois, for the purpose of adding cosponsors and requesting reprintings pursuant to clause 7 of rule XII. Agreed to without objection.

Summaries:
action_date: 2015-02-02
action_desc: Introduced in House
text: <p> Amends the Internal Revenue Code to make permanent the exclusion from gross income of distributions from individual retirement accounts for charitable purposes. </p>

action_date: 2015-02-09
action_desc: Reported to House amended, Part I
text: <p><strong>Permanent IRA Charitable Contribution Act of 2015</strong></p> <p>(Sec. 2) This bill amends the Internal Revenue Code to make permanent the exclusion from gross income of distributions from individual retirement accounts made for charitable purposes. </p> <p>(Sec. 3) This provision exempts the budgetary effects of this Act from entry on PAYGO scorecards under the Statutory Pay-As-You-Go Act of 2010. </p>

tv_txt: I 114th CONGRESS 1st Session H. R. 637 IN THE HOUSE OF REPRESENTATIVES February 2, 2015 Mr. Schock (for himself and Mr. Blumenauer ) introduced the following bill; which was referred to the Committee on Ways and Means , and in addition to the Committee on the Budget , for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned A BILL To amend the Internal Revenue Code of 1986 to make permanent the rule allowing certain tax-free distributions from individual retirement accounts for charitable purposes.

1. Rule allowing certain tax-free distributions from individual retirement accounts for charitable purposes made permanent (a) In general Section 408(d)(8) of the Internal Revenue Code of 1986 is amended by striking subparagraph (F). (b) Effective date The amendment made by this section shall apply to distributions made in taxable years beginning after December 31, 2014. 2. Budgetary effects The budgetary effects of this Act shall not be entered on either PAYGO scorecard maintained pursuant to section 4(d) of the Statutory Pay-As-You-Go Act of 2010.

tv_txt: IB Union Calendar No. 14 114th CONGRESS 1st Session H. R. 637 [Report No. 114–20, Part I] IN THE HOUSE OF REPRESENTATIVES February 2, 2015 Mr. Schock (for himself and Mr. Blumenauer ) introduced the following bill; which was referred to the Committee on Ways and Means , and in addition to the Committee on the Budget , for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned February 9, 2015 Additional sponsors: Mr. Costello of Pennsylvania and Mr. Reed February 9, 2015 Reported from the Committee on Ways and Means with an amendment Strike out all after the enacting clause and insert the part printed in italic February 9, 2015 The Committee on the Budget discharged; committed to the Committee of the Whole House on the State of the Union and ordered to be printed For text of introduced bill, see copy of bill as introduced on February 2, 2015 A BILL To amend the Internal Revenue Code of 1986 to make permanent the rule allowing certain tax-free distributions from individual retirement accounts for charitable purposes.

1. Short title This Act may be cited as the Permanent IRA Charitable Contribution Act of 2015 . 2. Rule allowing certain tax-free distributions from individual retirement accounts for charitable purposes made permanent (a) In general Section 408(d)(8) of the Internal Revenue Code of 1986 is amended by striking subparagraph (F). (b) Effective date The amendment made by this section shall apply to distributions made in taxable years beginning after December 31, 2014. 3. Budgetary effects The budgetary effects of this Act shall not be entered on either PAYGO scorecard maintained pursuant to section 4(d) of the Statutory Pay-As-You-Go Act of 2010.

February 9, 2015 Reported from the Committee on Ways and Means with an amendment February 9, 2015 The Committee on the Budget discharged; committed to the Committee of the Whole House on the State of the Union and ordered to be printed