LIFT for Charities Act

Summary

Lessen Impediments From Taxes for Charities Act or the LIFT for Charities Act This bill amends the Internal Revenue Code to modify the requirements for determining the unrelated business taxable income of tax-exempt organizations. The bill repeals a provision that requires unrelated business taxable income to be increased by the amount of expenses paid or incurred by a tax-exempt organization for certain fringe benefits for which a tax deduction is not allowed, including benefits relating to transportation, parking, or an on-premises athletic facility.

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Timeline

1. 1 August 2018

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 1 August 2018

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 1 August 2018 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 1 August 2018

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 1 August 2018

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 1 August 2018

  Open at official source

Sponsors

• James Lankford · R · Sponsor
• Sen. Blunt, Roy [R-MO] · R · Cosponsor
• Joni Ernst · R · Cosponsor
• Sen. Coons, Christopher A. [D-DE] · D · Cosponsor
• · ssfi00 · Standing

Related records

• related to → LIFT for Charities Act
• related to → LIFT for Charities Act