Fair Treatment for All Gifts Act

Bill: 114-hr-1104
Sponsor: full_name: Rep. Roskam, Peter J. [R-IL-6]
Introduced: 2015-02-26
Policy area: Taxation
Subjects: Charitable contributions

Tax-exempt organizations

Transfer and inheritance taxes
Latest action: action_date: 2015-04-16
text: Received in the Senate and Read twice and referred to the Committee on Finance.

Summaries:
action_date: 2015-02-26
action_desc: Introduced in House
text: <p><strong>Fair Treatment for All Donations Act</strong></p> <p>This bill amends the Internal Revenue Code to allow a deduction from the taxable&nbsp;amount of gifts for gifts made to specified tax-exempt organizations, including: (1) social welfare organizations; (2) labor, agricultural, and horticultural organizations; and (3) business leagues, chambers of commerce, real-estate boards, boards of trade, and professional football leagues.</p>

action_date: 2015-04-13
action_desc: Reported to House with amendment(s)
text: <p><strong>Fair Treatment for All Gifts Act</strong></p> <p>(Sec. 2) This bill amends the Internal Revenue Code to allow a deduction from the taxable&nbsp;amount of gifts for gifts made to specified tax-exempt organizations, including: (1) social welfare organizations; (2) labor, agricultural, and horticultural organizations; and (3) business leagues, chambers of commerce, real-estate boards, boards of trade, and professional football leagues. Declares that for purposes of the gift tax, a transfer of property to such organizations shall not be deemed to be a transfer by gift. </p>

action_date: 2015-04-15
action_desc: Passed House amended
text: <p>(This measure has not been amended since it was reported to the House on April 13, 2015. The summary of that version is repeated here.)</p> <p><strong>Fair Treatment for All Gifts Act</strong></p> <p>(Sec. 2) This bill amends the Internal Revenue Code to allow a deduction from the taxable&nbsp;amount of gifts for gifts made to specified tax-exempt organizations, including: (1) social welfare organizations; (2) labor, agricultural, and horticultural organizations; and (3) business leagues, chambers of commerce, real-estate boards, boards of trade, and professional football leagues. Declares that for purposes of the gift tax, a transfer of property to such organizations shall not be deemed to be a transfer by gift. </p>

tv_txt: I 114th CONGRESS 1st Session H. R. 1104 IN THE HOUSE OF REPRESENTATIVES February 26, 2015 Mr. Roskam introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to provide a deduction from the gift tax for gifts made to certain exempt organizations.

1. Short title This Act may be cited as the Fair Treatment for All Donations Act . 2. Deduction from gift tax for gifts made to certain exempt organizations (a) In general Section 2522(a) of the Internal Revenue Code of 1986 is amended by striking the period at the end of paragraph (4) and inserting a semi-colon and by inserting after paragraph (4) the following new paragraph: (5) an organization described in paragraph (4), (5), or (6) of section 501(c) and exempt from tax under section 501(a). . (b) Effective date The amendment made by subsection (a) shall apply to gifts made after the date of the enactment of this Act. (c) No inference Nothing in the amendment made by subsection (a) shall be construed to create any inference with respect to whether any transfer of property (whether made before, on, or after the date of the enactment of this Act) to an organization described in paragraph (4), (5), or (6) of section 501(c) of the Internal Revenue Code of 1986 is a transfer of property by gift for purposes of chapter 12 of such Code.

tv_txt: IB 114th CONGRESS 1st Session H. R. 1104 IN THE HOUSE OF REPRESENTATIVES AN ACT To amend the Internal Revenue Code of 1986 to provide a deduction from the gift tax for gifts made to certain exempt organizations.

1. Short title This Act may be cited as the Fair Treatment for All Gifts Act . 2. Deduction from gift tax for gifts made to certain exempt organizations (a) In general Section 2522(a) of the Internal Revenue Code of 1986 is amended by striking the period at the end of paragraph (4) and inserting a semicolon and by inserting after paragraph (4) the following new paragraph: (5) an organization described in paragraph (4), (5), or (6) of section 501(c) and exempt from tax under section 501(a). . (b) Effective date The amendments made by subsection (a) shall apply to gifts made after the date of the enactment of this Act. (c) No inference Nothing in the amendments made by subsection (a) shall be construed to create any inference with respect to whether any transfer of property (whether made before, on, or after the date of the enactment of this Act) to an organization described in paragraph (4), (5), or (6) of section 501(c) of the Internal Revenue Code of 1986 is a transfer of property by gift for purposes of chapter 12 of such Code.

Passed the House of Representatives April 15, 2015. Karen L. Haas, Clerk.

tv_txt: IIB 114th CONGRESS 1st Session H. R. 1104 IN THE SENATE OF THE UNITED STATES April 16, 2015 Received; read twice and referred to the Committee on Finance AN ACT To amend the Internal Revenue Code of 1986 to provide a deduction from the gift tax for gifts made to certain exempt organizations.

1. Short title This Act may be cited as the Fair Treatment for All Gifts Act . 2. Deduction from gift tax for gifts made to certain exempt organizations (a) In general Section 2522(a) of the Internal Revenue Code of 1986 is amended by striking the period at the end of paragraph (4) and inserting a semicolon and by inserting after paragraph (4) the following new paragraph: (5) an organization described in paragraph (4), (5), or (6) of section 501(c) and exempt from tax under section 501(a). . (b) Effective date The amendments made by subsection (a) shall apply to gifts made after the date of the enactment of this Act. (c) No inference Nothing in the amendments made by subsection (a) shall be construed to create any inference with respect to whether any transfer of property (whether made before, on, or after the date of the enactment of this Act) to an organization described in paragraph (4), (5), or (6) of section 501(c) of the Internal Revenue Code of 1986 is a transfer of property by gift for purposes of chapter 12 of such Code.

Passed the House of Representatives April 15, 2015. Karen L. Haas, Clerk

tv_txt: IB Union Calendar No. 45 114th CONGRESS 1st Session H. R. 1104 [Report No. 114–64] IN THE HOUSE OF REPRESENTATIVES February 26, 2015 Mr. Roskam introduced the following bill; which was referred to the Committee on Ways and Means April 13, 2015 Additional sponsors: Mr. Bishop of Michigan , Mr. Blum , Mr. Bost , Mr. Kelly of Pennsylvania , Mr. Grothman , and Mr. Reed April 13, 2015 Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed Strike out all after the enacting clause and insert the part printed in italic For text of introduced bill, see copy of bill as introduced on February 26, 2015 A BILL To amend the Internal Revenue Code of 1986 to provide a deduction from the gift tax for gifts made to certain exempt organizations.

1. Short title This Act may be cited as the Fair Treatment for All Gifts Act . 2. Deduction from gift tax for gifts made to certain exempt organizations (a) In general Section 2522(a) of the Internal Revenue Code of 1986 is amended by striking the period at the end of paragraph (4) and inserting a semicolon and by inserting after paragraph (4) the following new paragraph: (5) an organization described in paragraph (4), (5), or (6) of section 501(c) and exempt from tax under section 501(a). . (b) Effective date The amendments made by subsection (a) shall apply to gifts made after the date of the enactment of this Act. (c) No inference Nothing in the amendments made by subsection (a) shall be construed to create any inference with respect to whether any transfer of property (whether made before, on, or after the date of the enactment of this Act) to an organization described in paragraph (4), (5), or (6) of section 501(c) of the Internal Revenue Code of 1986 is a transfer of property by gift for purposes of chapter 12 of such Code.

April 13, 2015 Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed