To amend the Internal Revenue Code of 1986 to reiterate the denial of the charitable contribution deduction for transfers associated with split-dollar insurance arrangements.

States that nothing in specified Internal Revenue Code provisions concerning the disallowance of the charitable deduction contribution shall be construed to permit a deduction for a transfer to or for the use of a charitable organization if the organization pays or has paid, or there is an understanding that any person will pay, personal benefit contract premiums on the transferor's behalf. Subjects such non-deductible payments to an excise tax.