A bill to amend the Internal Revenue Code of 1986 to permit certain tax free corporate liquidations into a 501(c)(3) organization and to revise the unrelated business income tax rules regarding receipt of debt-financed property in such a liquidation.
Charitable Giving Incentive Act - Amends the Internal Revenue Code to allow certain tax-free liquidations from a closely held corporation into a tax-exempt organization. Revises unrelated business income provisions regarding property acquired subject to a mortgage with respect to such a liquidation.
Introduced in Senate
Sponsor introductory remarks on measure. (CR S11996-11997)
Read twice and referred to the Committee on Finance.
Sponsor introductory remarks on measure. (CR S12828-12829)
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