Virginia Beach Strong Act

Bill: 116-s-2592
Sponsor: full_name: Sen. Warner, Mark R. [D-VA]
Introduced: 2019-09-26
Policy area: Taxation
Subjects: Charitable contributions

Crime victims

Income tax deductions

Tax-exempt organizations

Virginia
Latest action: action_date: 2019-09-26
text: Read twice and referred to the Committee on Finance.

Summaries:
action_date: 2019-09-26
action_desc: Introduced in Senate
text: <p><b>Virginia Beach Strong Act</b></p> <p>This bill confirms that cash contributions made for the exclusive benefit of the families of the dead or wounded victims of the mass shooting in Virginia Beach, Virginia, on May 31, 2019, shall be treated as tax deductible contributions.</p>

tv_txt: II 116th CONGRESS 1st Session S. 2592 IN THE SENATE OF THE UNITED STATES September 26, 2019 Mr. Warner (for himself and Mr. Kaine ) introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To accelerate the income tax benefits for charitable cash contributions for the relief of the families of victims of the mass shooting in Virginia Beach, Virginia on May 31, 2019.

1. Short title This Act may be cited as the Virginia Beach Strong Act . 2. Special rules for contributions for relief of the families of the mass shooting in Virginia Beach (a) Clarification that contribution will not fail To qualify as a charitable contribution A cash contribution made for the relief of the families of the dead or wounded victims of the mass shooting in Virginia Beach, Virginia on May 31, 2019, shall not fail to be treated as a charitable contribution for purposes of section 170 of the Internal Revenue Code of 1986 merely because such contribution is for the exclusive benefit of such families. The preceding sentence shall apply to contributions made on or after May 31, 2019. (b) Clarification that payments by charitable organizations to families treated as exempt payments For purposes of the Internal Revenue Code of 1986, payments made on or after May 31, 2019, and on or before June 1, 2021, to the spouse or any dependent (as defined in section 152 of such Code) of the dead or wounded victims of the mass shooting in Virginia Beach, Virginia on May 31, 2019, by an organization which (determined without regard to any such payments) would be an organization exempt from tax under section 501(a) of such Code shall— (1) be treated as related to the purpose or function constituting the basis for such organization’s exemption under such section; and (2) shall not be treated as inuring to the benefit of any private individual, if such payments are made in good faith using a reasonable and objective formula which is consistently applied with respect to such victims.