Personal Philanthropy Account Act of 2005

Summary

Personal Philanthropy Account Act of 2005 - Amends the Internal Revenue Code to allow a tax deduction (whether or not the taxpayer itemizes deductions) for cash contributions to a personal philanthropy account. Defines "personal philanthropy account" as a tax-exempt trust created to make distributions for charitable purposes. Sets forth rules providing for default charitable distributions in the event of an account holder's death and minimum annual distribution requirements. Allows an exclusion from the gross income of an employee for contributions made by an employer to the employee's personal philanthropy account.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 23 May 2005

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• Introduced in House (PDF)

  Introduced in House · EN · 23 May 2005

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• Introduced in House

  summary · EN · 23 May 2005

  Open at official source

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