Charities Helping Americans Regularly Throughout the Year Act of 2017

Summary

Charities Helping Americans Regularly Throughout the Year Act of 2017 This bill amends the Internal Revenue Code to modify several tax provisions affecting charitable contributions and tax-exempt organizations. The Internal Revenue Service may determine the standard mileage rate for deducting the cost of using a passenger automobile for charitable purposes (currently set by statute at 14 cents per mile), and the rate may not be less than the rate for medical purposes (17 cents per mile for 2017). The bill modifies the substantiation requirements for charitable contributions to eliminate an exemption for contributions that are reported on a return filed by a tax-exempt organization. Tax-exempt organizations must file their returns in electronic form. The bill excludes from the gross income of an individual who is at least 70-1/2 years of age up to $100,000 in distributions from an individual retirement plan to a donor-advised fund (DAF). The bill also modifies disclosure requirements for DAFs. (A DAF is a fund or account that is separately identified by reference to contributions of a donor or donors. The account is owned and controlled by a sponsoring charitable organization, while the donor retains advisory privileges with respect to the distribution and investment of funds in the account.) The bill reduces from 2% to 1% the excise tax on the investment income of private foundations and eliminates a provision that reduces the rate to 1% if a foundation meets certain distribution requirements. The bill exempts certain philanthropic business holdings from the tax on excess business holdings of private foundations if a foundation meets requirements for exclusive ownership, donating all profits to charity, and independent operation.

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Timeline

1. 13 June 2017

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 13 June 2017

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 13 June 2017 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 13 June 2017

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 13 June 2017

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 13 June 2017

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Thune, John [R-SD] · R · Sponsor
• Sen. Casey, Robert P., Jr. [D-PA] · D · Sponsor
• Sen. Wyden, Ron [D-OR] · D · Sponsor
• Sen. Roberts, Pat [R-KS] · R · Sponsor
• Sen. Moran, Jerry [R-KS] · R · Cosponsor
• Sen. Donnelly, Joe [D-IN] · D · Cosponsor
• Sen. Peters, Gary C. [D-MI] · D · Cosponsor
• Sen. Klobuchar, Amy [D-MN] · D · Cosponsor
• Sen. Portman, Rob [R-OH] · R · Cosponsor
• Sen. Stabenow, Debbie [D-MI] · D · Cosponsor
• Sen. Boozman, John [R-AR] · R · Cosponsor
• Sen. Rounds, Mike [R-SD] · R · Cosponsor
• Sen. Shaheen, Jeanne [D-NH] · D · Cosponsor
• Sen. Isakson, Johnny [R-GA] · R · Cosponsor
• Sen. Perdue, David [R-GA] · R · Cosponsor
• · ssfi00 · Standing

Related records

• related to → Protecting Charitable Contributions Act of 2017
• related to ← Charities Helping Americans Regularly Throughout the Year Act of 2017
• related to ← Philanthropic Enterprise Act of 2017
• related to ← To amend the Internal Revenue Code of 1986 to require electronic filing of the annual returns of exempt organizations and provide for making such returns available for public inspection.