A bill to amend the Internal Revenue Code of 1954 to provide that a dividend paid by a corporation directly to certain charitable organizations at the direction of a shareholder shall be treated as a charitable contribution of the corporation, and to exclude such dividend from the income of such shareholder.

Amends the Internal Revenue Code to treat dividends paid by a corporation directly to a charitable organization at the direction of a shareholder as a charitable contribution of the corporation. Sets forth a formula to determine the charitable contribution of the corporation with respect to such payment.

Excludes such dividend from the income of the shareholder.