Supporting America's Charities Act - Amends the Internal Revenue Code to make permanent: (1) the tax deduction for charitable contributions by individuals and corporations of real property interests for conservation purposes, and (2) tax-free distributions from individual retirement accounts (IRAs) for charitable purposes. Allows a tax deduction for charitable contributions for conservation purposes of property conveyed under the Alaska Native Claims Settlement Act by an Alaska Native Corporation.
Modifies the tax deduction for charitiable contributions of food inventory to: (1) increase the amount of deductible food inventory contributions that taxpayers other than C corporations may make in any taxable year from 10% to 15% of their aggregate net income and to limit such amount for a C corporation to 15% of its taxable income; (2) permit a taxpayer who is not required to account for inventories or capitalize indirect costs to elect, solely for purposes of computing the amount of such deduction, to treat the basis of any apparently wholesome food (as defined in the Bill Emerson Good Samaritan Food Donation Act) as equal to 25% of the fair market value of such food and to set forth a formula for determining the fair market value of such food; and (3) make such deduction, as modified, permanent.
[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5806 Introduced in House (IH)]
113th CONGRESS
2d Session
H. R. 5806
To amend the Internal Revenue Code of 1986 to modify and make permanent
certain expiring provisions related to charitable contributions.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
December 8, 2014
Mr. Camp introduced the following bill; which was referred to the
Committee on Ways and Means, and in addition to the Committee on the
Budget, for a period to be subsequently determined by the Speaker, in
each case for consideration of such provisions as fall within the
jurisdiction of the committee concerned
_______________________________________________________________________
A BILL
To amend the Internal Revenue Code of 1986 to modify and make permanent
certain expiring provisions related to charitable contributions.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Supporting America's Charities
Act''.
SEC. 2. SPECIAL RULE FOR QUALIFIED CONSERVATION CONTRIBUTIONS MODIFIED
AND MADE PERMANENT.
(a) Made Permanent.--
(1) Individuals.--Section 170(b)(1)(E) of the Internal
Revenue Code of 1986 is amended by striking clause (vi).
(2) Corporations.--Section 170(b)(2)(B) of such Code is
amended by striking clause (iii).
(b) Contributions of Capital Gain Real Property Made for
Conservation Purposes by Native Corporations.--
(1) In general.--Section 170(b)(2) of such Code is amended
by redesignating subparagraph (C) as subparagraph (D), and by
inserting after subparagraph (B) the following new
subparagraph:
``(C) Qualified conservation contributions by
certain native corporations.--
``(i) In general.--Any qualified
conservation contribution (as defined in
subsection (h)(1)) which--
``(I) is made by a Native
Corporation, and
``(II) is a contribution of
property which was land conveyed under
the Alaska Native Claims Settlement
Act,
shall be allowed to the extent that the
aggregate amount of such contributions does not
exceed the excess of the taxpayer's taxable
income over the amount of charitable
contributions allowable under subparagraph (A).
``(ii) Carryover.--If the aggregate amount
of contributions described in clause (i)
exceeds the limitation of clause (i), such
excess shall be treated (in a manner consistent
with the rules of subsection (d)(2)) as a
charitable contribution to which clause (i)
applies in each of the 15 succeeding years in
order of time.
``(iii) Native corporation.--For purposes
of this subparagraph, the term `Native
Corporation' has the meaning given such term by
section 3(m) of the Alaska Native Claims
Settlement Act.''.
(2) Conforming amendment.--Section 170(b)(2)(A) of such
Code is amended by striking ``subparagraph (B) applies'' and
inserting ``subparagraph (B) or (C) applies''.
(3) Valid existing rights preserved.--Nothing in this
subsection (or any amendment made by this subsection) shall be
construed to modify the existing property rights validly
conveyed to Native Corporations (within the meaning of section
3(m) of the Alaska Native Claims Settlement Act) under such
Act.
(c) Effective Date.--The amendments made by this section shall
apply to contributions made in taxable years beginning after December
31, 2013.
SEC. 3. EXTENSION AND EXPANSION OF CHARITABLE DEDUCTION FOR
CONTRIBUTIONS OF FOOD INVENTORY.
(a) Permanent Extension.--Section 170(e)(3)(C) of the Internal
Revenue Code of 1986 is amended by striking clause (iv).
(b) Increase in Limitation.--Section 170(e)(3)(C) of such Code, as
amended by subsection (a), is amended by striking clause (ii), by
redesignating clause (iii) as clause (iv), and by inserting after
clause (i) the following new clauses:
``(ii) Limitation.--The aggregate amount of
such contributions for any taxable year which
may be taken into account under this section
shall not exceed--
``(I) in the case of any taxpayer
other than a C corporation, 15 percent
of the taxpayer's aggregate net income
for such taxable year from all trades
or businesses from which such
contributions were made for such year,
computed without regard to this
section, and
``(II) in the case of a C
corporation, 15 percent of taxable
income (as defined in subsection
(b)(2)(D)).
``(iii) Rules related to limitation.--
``(I) Carryover.--If such aggregate
amount exceeds the limitation imposed
under clause (ii), such excess shall be
treated (in a manner consistent with
the rules of subsection (d)) as a
charitable contribution described in
clause (i) in each of the 5 succeeding
years in order of time.
``(II) Coordination with overall
corporate limitation.--In the case of
any charitable contribution allowable
under clause (ii)(II), subsection
(b)(2)(A) shall not apply to such
contribution, but the limitation
imposed by such subsection shall be
reduced (but not below zero) by the
aggregate amount of such contributions.
For purposes of subsection (b)(2)(B),
such contributions shall be treated as
allowable under subsection
(b)(2)(A).''.
(c) Determination of Basis for Certain Taxpayers.--Section
170(e)(3)(C) of such Code, as amended by subsections (a) and (b), is
amended by adding at the end the following new clause:
``(v) Determination of basis for certain
taxpayers.--If a taxpayer--
``(I) does not account for
inventories under section 471, and
``(II) is not required to
capitalize indirect costs under section
263A,
the taxpayer may elect, solely for purposes of
subparagraph (B), to treat the basis of any
apparently wholesome food as being equal to 25
percent of the fair market value of such
food.''.
(d) Determination of Fair Market Value.--Section 170(e)(3)(C) of
such Code, as amended by subsections (a), (b), and (c), is amended by
adding at the end the following new clause:
``(vi) Determination of fair market
value.--In the case of any such contribution of
apparently wholesome food which cannot or will
not be sold solely by reason of internal
standards of the taxpayer, lack of market, or
similar circumstances, or by reason of being
produced by the taxpayer exclusively for the
purposes of transferring the food to an
organization described in subparagraph (A), the
fair market value of such contribution shall be
determined--
``(I) without regard to such
internal standards, such lack of
market, such circumstances, or such
exclusive purpose, and
``(II) by taking into account the
price at which the same or
substantially the same food items (as
to both type and quality) are sold by
the taxpayer at the time of the
contribution (or, if not so sold at
such time, in the recent past).''.
(e) Effective Date.--
(1) In general.--Except as otherwise provided in this
subsection, the amendments made by this section shall apply to
contributions made after December 31, 2013, in taxable years
ending after such date.
(2) Limitation; applicability to c corporations.--The
amendments made by subsection (b) shall apply to contributions
made in taxable years beginning after December 31, 2013.
SEC. 4. RULE ALLOWING CERTAIN TAX-FREE DISTRIBUTIONS FROM INDIVIDUAL
RETIREMENTS ACCOUNTS FOR CHARITABLE PURPOSES MADE
PERMANENT.
(a) In General.--Section 408(d)(8) of the Internal Revenue Code of
1986 is amended by striking subparagraph (F).
(b) Effective Date.--The amendment made by this section shall apply
to distributions made in taxable years beginning after December 31,
2013.
SEC. 5. BUDGETARY EFFECTS.
(a) Paygo Scorecard.--The budgetary effects of this Act shall not
be entered on either PAYGO scorecard maintained pursuant to section
4(d) of the Statutory Pay-As-You-Go Act of 2010.
(b) Senate Paygo Scorecard.--The budgetary effects of this Act
shall not be entered on any PAYGO scorecard maintained for purposes of
section 201 of S. Con. Res. 21 (110th Congress).
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Introduced in House
Introduced in House
Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Ways and Means, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Mr. Camp moved to suspend the rules and pass the bill.
Considered under suspension of the rules. (consideration: CR H8998-9002; text as introduced in House: CR H8998-8999)
DEBATE - The House proceeded with forty minutes of debate on H.R. 5806.
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
Considered as unfinished business. (consideration: CR H9075)
Failed of passage/not agreed to in House: On motion to suspend the rules and pass the bill Failed by the Yeas and Nays: (2/3 required): 275 - 149 (Roll no. 562).
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On motion to suspend the rules and pass the bill Failed by the Yeas and Nays: (2/3 required): 275 - 149 (Roll no. 562).
Roll Call #562 (House)