A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Internal Revenue Service, Department of the Treasury, relating to "Contributions in Exchange for State or Local Tax Credits".

Bill: 116-sjres-50
Sponsor: full_name: Sen. Schumer, Charles E. [D-NY]
Introduced: 2019-07-16
Policy area: Taxation
Subjects: Administrative law and regulatory procedures

Charitable contributions

Congressional oversight

Department of the Treasury

Income tax credits

Income tax deductions

Internal Revenue Service (IRS)

State and local taxation
Latest action: action_date: 2019-10-23
text: Failed of passage in Senate by Yea-Nay Vote. 43 - 52. Record Vote Number: 331.

Summaries:
action_date: 2019-07-16
action_desc: Introduced in Senate
text: <p>This resolution expresses congressional disapproval of the rule submitted by the Internal Revenue Service relating to charitable contribution and estate tax deductions when a taxpayer receives or expects to receive a corresponding state or local tax credit, and such rule shall have no force or effect. </p>

tv_txt: IIA 116th CONGRESS 1st Session S. J. RES. 50 IN THE SENATE OF THE UNITED STATES July 16, 2019 Mr. Schumer (for himself, Mr. Wyden , Mr. Menendez , Mrs. Gillibrand , Mr. Booker , Mr. Blumenthal , Mrs. Murray , Mr. Murphy , Mr. Merkley , Mr. Van Hollen , and Mr. Durbin ) introduced the following joint resolution; which was read twice and referred to the Committee on Finance JOINT RESOLUTION Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Internal Revenue Service, Department of the Treasury, relating to Contributions in Exchange for State or Local Tax Credits .

That Congress disapproves the rule submitted by the Internal Revenue Service, Department of the Treasury, relating to Contributions in Exchange for State or Local Tax Credits (84 Fed. Reg. 27513 (June 13, 2019)), and such rule shall have no force or effect.

tv_txt: IIA Calendar No. 258 116th CONGRESS 1st Session S. J. RES. 50 IN THE SENATE OF THE UNITED STATES July 16, 2019 Mr. Schumer (for himself, Mr. Wyden , Mr. Menendez , Mrs. Gillibrand , Mr. Booker , Mr. Blumenthal , Mrs. Murray , Mr. Murphy , Mr. Merkley , Mr. Van Hollen , Mr. Durbin , Ms. Duckworth , and Mr. Carper ) introduced the following joint resolution; which was read twice and referred to the Committee on Finance October 22, 2019 Committee discharged by petition, pursuant to 5 U.S.C. 802(c) , and placed on the calendar JOINT RESOLUTION Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Internal Revenue Service, Department of the Treasury, relating to Contributions in Exchange for State or Local Tax Credits .

That Congress disapproves the rule submitted by the Internal Revenue Service, Department of the Treasury, relating to Contributions in Exchange for State or Local Tax Credits (84 Fed. Reg. 27513 (June 13, 2019)), and such rule shall have no force or effect.

October 22, 2019 Committee discharged by petition, pursuant to 5 U.S.C. 802(c) , and placed on the calendar