To amend the Internal Revenue Code of 1986 to make permanent the section 170(e)(5) rules pertaining to gifts of publicly-traded stock to certain private foundations, and for other purposes.

Amends the Internal Revenue Code to make permanent the special rules for gifts of qualified appreciated stock to certain tax-exempt private foundations for purposes of the itemized deduction of charitable contributions.

Includes grants to certain foreign organizations as qualified distributions by private foundations for purposes of the tax on failure to distribute income.

Changes the due date for first quarter estimated tax payments by private foundations.