A bill to amend the Internal Revenue Code of 1954 to provide that no reduction will be made in the amount of the charitable deduction in the case of certain contributions of appreciated capital assets which do not meet the holding period requirement for long-term capital gains.

Repeals the Internal Revenue Code requirement that the allowable charitable deduction for donated capital assets be reduced by that portion of the asset's value which would qualify as short term capital gains in a sale transaction. Applies only to contributions of property other than tangible personal property.