A bill to amend the Internal Revenue Code of 1986 to permit donors of debt of developing nations to charitable organizations to obtain a charitable deduction equal to their basis in the debt.

Amends the Internal Revenue Code to require that the amount of the charitable deduction permitted to a donor of a debt instrument evidencing a loan to a developing nation be no less than the donor's basis in the relevant debt instrument in certain cases. Applies this provision when: (1) the contribution is a debt instrument in connection with a loan to a foreign country eligible for World Bank or International Development Association financing; (2) the donation is made to a governmental unit or to a tax-exempt charitable, religious, literary, scientific, or educational entity (a 501(c)(3) organization); and (3) the instrument or its proceeds will be used for one or more international conservation purposes, such as preservation of open spaces, protection of natural habitat, support of conservation education programs, and appropriate research and experimentation.