CARE Act of 2002

Summary

Charity Aid, Recovery, and Empowerment Act of 2002 (CARE Act of 2002) - Amends the Internal Revenue Code, concerning charitable giving, to, among other things: (1) allow a charitable giving deduction to individuals not itemizing; (2) permit tax free distributions from IRA accounts for charitable purposes; and (3) increase the cap on corporate charitable contributions. Sets forth provisions concerning the treatment of nongovernmental providers of social services. Provides expedited procedures for obtaining tax exempt status. Provides financial for support nongovernmental community based organizations for, among other things: (1) grant writing, legal, program development, and management assistance; (2) capacity building; and (3) delivering assistance. Amends Temporary Assistance for Needy Families (TANF) provisions of the Social Security Act (SSA) to restore State authority to transfer up to ten percent of TANF funds to carry out State programs under SSA title XX (Block Grants to States for Social Services). Amends title XX to restore funds to States and territories for FY 2003 and 2004. Amends the Runaway and Homeless Youth Act to provide for maternity group homes and evaluation of such homes. Savings for Working Families Act of 2002 - Permits a qualified financial institution, qualified nonprofit organization, or Indian tribe to establish one or more qualified individual development account programs. Defines such an account as an account established for an eligible individual (income based) as part of a qualified individual development account program (matched individual and entity savings accounts for qualifying educational, first-time home purchase, or business expenses). Provides matching funds through a tax credit.

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

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

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

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 8 February 2002

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 8 February 2002

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 8 February 2002

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.