A bill to amend the Internal Revenue Code of 1954 to provide that an activity relating to the free distribution of low cost articles by certain nonprofit organizations and veterans' organizations in connection with the solicitation of charitable contributions does not constitute an unrelated trade or business of such organization.

Summary

Amends the Internal Revenue Code to provide that an activity relating to the distribution of low cost articles (any article which has a cost not in excess of five dollars to the organization which distributes such item) by certain nonprofit organizations and veterans' organizations in connection with the solicitation of charitable contributions does not constitute an unrelated trade or business of such organization. Provides for a yearly inflation adjustment to the cost of the low-cost articles which may be distributed.

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Timeline

1. 18 July 1985

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 18 July 1985

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 22 July 1985

   Committee

   Committee on Finance requested executive comment from OMB, Treasury Department.

   Source: Committee

Votes

No vote records are attached yet.

Versions

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

Documents

1 official file

• Introduced in Senate

  summary · EN · 18 July 1985

  Open at official source

Sponsors

• Sen. Zorinsky, Edward [D-NE] · D · Sponsor
• Sen. Exon, J. James [D-NE] · D · Sponsor
• · ssfi00 · Standing

Related records

• related to → A bill to amend the Internal Revenue Code of 1954 to provide that an activity relating to the free distribution of low cost articles by certain nonprofit organizations and veterans' organizations in connection with the solicitation of charitable contributions does not constitute an unrelated trade or business of such organization.