A bill to amend the Internal Revenue Code of 1986 to allow for charitable contributions to certain private charities providing assistance to the poor thereby improving Federal welfare efforts through increased activity, and for other purposes.
Amends the Internal Revenue Code to create a tax credit not to exceed $500 (in lieu of a deduction) for cash contributions made by an individual to a tax-exempt private charitable organization primarily assisting the poor, for which the individual must also have worked at least 50 hours.
Denies such credit if the donor or a family member is an officer or employee of such organization, or has another specified relationship with the organization that would involve self-dealing.
Introduced in Senate
Sponsor introductory remarks on measure. (CR S7245-7247)
Read twice and referred to the Committee on Finance.
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