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United States · Bill · S

S. 592 (107th)

Savings Opportunity and Charitable Giving Act of 2001

openUnited States· United States Congress· EN

Introduced

21 March 2001

Last action

23 May 2001 · Introduced

Status

Sponsor introductory remarks on measure. (CR S5533-5535)

Sponsors

Sen. Santorum, Rick [R-PA], Sen. Lieberman, Joseph I. [ID-CT], Sen. Hutchinson, Tim [R-AR], Sen. Durbin, Richard J. [D-IL], Sen. Brownback, Sam [R-KS], Sen. Landrieu, Mary L. [D-LA], Sen. Lugar, Richard G. [R-IN], Sen. Bayh, Evan [D-IN], Sen. DeWine, Mike [R-OH], Sen. Johnson, Tim [D-SD], Sen. Miller, Zell [D-GA], Sen. Kyl, Jon [R-AZ], Sen. Sessions, Jeff [R-AL], Sen. Smith, Bob [R-NH], Sen. Cochran, Thad [R-MS], Sen. Corzine, Jon S. [D-NJ], Sen. Feinstein, Dianne [D-CA], Sen. Dayton, Mark [D-MN]

Subjects

Discovery layer

Source updated

19 August 2025

Summary

The Savings Opportunity and Charitable Giving Act of 2001 - Amends the Internal Revenue Code to permit any 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 as part of a qualified individual development account program. Sets forth provisions concerning such accounts, including: (1) the structure and administration of account programs; (2) procedures for opening and maintaining an account and qualifying for matching funds; (3) withdrawal procedures; and (4) disregarding account funds for purposes of certain means-tested Federal programs. Permits non-itemizers to deduct a portion of their charitable contributions. Prohibits, in general, including in gross income distributions from individual retirement accounts for charitable purposes. Sets forth a rule for determining the amount of the deduction allowable for a charitable contribution of food inventory.

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

Timeline

  1. 21 March 2001

    Introduced

    Read twice and referred to the Committee on Finance.

    Source: IntroReferral

  2. 21 March 2001

    Introduced

    Sponsor introductory remarks on measure. (CR S2672-2674)

    Source: IntroReferral

  3. 21 March 2001

    Introduced

    Introduced in Senate

    Source: IntroReferral

  4. 23 May 2001

    Introduced

    Sponsor introductory remarks on measure. (CR S5533-5535)

    Source: IntroReferral

Votes

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Versions

Documents

3 official files

Introduced in Senate (text)

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Leesvertaling

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  • Introduced in Senate (text)

    Introduced in Senate · EN · 21 March 2001

    ViewDownloadOpen at official source

  • Introduced in Senate (PDF)

    Introduced in Senate · EN · 21 March 2001

    ViewDownloadOpen at official source

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  • Introduced in Senate

    summary · EN · 21 March 2001

    Open at official source

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Sponsors

Related records

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Sources

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