A bill relating to the income tax treatment of charitable contributions of inventory and other ordinary income property.

Summary

Provides that the tax deduction under the Internal Revenue Code for charitable contributions of medical, surgical, or hospital supplies that is ordinary income property of the donor shall be reduced by only one-half of the amount of gain which would have been realized if the property contributed had been sold at its fair market value if the donee uses the property for a function related to its basis for tax exempt status.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 25 June 1975

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 25 June 1975

   Introduced

   Introduced in House

   Source: IntroReferral

3. 25 June 1975

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 25 June 1975

  Open at official source

Sponsors

• Rep. Conable, Barber B., Jr. [R-NY-35] · R · Sponsor
• Rep. Erlenborn, John N. [R-IL-14] · R · Cosponsor
• Chuck Grassley · R · Cosponsor
• · hswm00 · Standing

Related records

• related to → A bill relating to the income-tax treatment of charitable contributions of inventory and certain other ordinary income property.