Personal Philanthropy Account Act of 2006

Summary

Personal Philanthropy Account Act of 2006 - Amends the Internal Revenue Code to allow a tax deduction (whether or not the taxpayer itemizes deductions) for cash contributions to a personal philanthropy account. Defines "personal philanthropy account" as a tax-exempt trust created to make distributions for charitable purposes. Sets forth rules providing for employer contributions to such accounts, default charitable distributions in the event of an account holder's death, and minimum annual distributions. Allows an exclusion from the gross income of an employee for contributions made by an employer to the employee's personal philanthropy account.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 8 September 2006

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 8 September 2006

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• Introduced in Senate

  summary · EN · 8 September 2006

  Open at official source

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