To amend the Internal Revenue Code of 1986 to limit the deduction for charitable contributions of patents and similar property.

Summary

Amends the Internal Revenue Code to require a taxpayer seeking an income tax deduction for the charitable contribution of a patent, copyright, trademark, trade name, trade secret, know-how, software or similar technology property to: (1) contribute the entire right, title, and interest in such property to certain tax-exempt universities, teaching hospitals or reseach institutions; and (2) require that any cash or cash equivalents donated with such property be used for patent prosecution or maintenance and for the scientific and commercial development of such patents or other technology property. Requires the Secretary of the Treasury to prescribe regulations for the appraisal of such patents or other technology property and for the prevention of taxpayer abuse of charitable deductions for such property.

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Timeline

1. 25 February 2004

   Introduced

   Sponsor introductory remarks on measure. (CR E232)

   Source: IntroReferral

2. 25 February 2004

   Introduced

   Introduced in House

   Source: IntroReferral

3. 25 February 2004

   Introduced

   Introduced in House

   Source: IntroReferral

4. 25 February 2004

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 25 February 2004 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 25 February 2004

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 25 February 2004

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 25 February 2004

  Open at official source

Sponsors

• Rep. Houghton, Amo [R-NY-34] · R · Sponsor
• Sen. Portman, Rob [R-OH] · R · Sponsor
• Jerry Moran · R · Sponsor
• Rep. Ryun, Jim [R-KS-2] · R · Cosponsor
• · hswm00 · Standing

Related records

• related to ← A bill to amend the Internal Revenue Code of 1986 to limit the deduction for charitable contributions of patents and similar property.