Charities Helping Americans Regularly Throughout the Year Act
Latest action · Apr 6, 2016 Read twice and referred to the Committee on Finance.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedApr 6, 2016
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Charities Helping Americans Regularly Throughout the Year Act
This bill amends the Internal Revenue Code to modify several tax provisions affecting charitable contributions and tax-exempt organizations.
The bill excludes from the gross income of an individual who is at least 70-1/2 years of age up to $100,000 in distributions from an individual retirement plan to a donor-advised fund (DAF).
(A DAF is a fund or account that is separately identified by reference to contributions of a donor or donors. The account is owned and controlled by a sponsoring charitable organization, while the donor retains advisory privileges with respect to the distribution and investment of funds in the account.)
Sponsors of DAFs must disclose in their returns specified details regarding: (1) policies on inactive or dormant funds, and (2) average aggregate contributions to and grants made from the funds during the most recent three-year period.
The bill reduces from 2% to 1% the excise tax on the investment income of private foundations and eliminates a provision that reduces the rate to 1% if a foundation meets certain distribution requirements.
Tax-exempt organizations must file their returns in electronic form, and the Internal Revenue Service (IRS) must make the returns available to the public in a machine readable format as soon as practicable. The IRS may delay the requirement for up to two years for certain small organizations.
The IRS may determine the standard mileage rate for deducting the cost of using a passenger automobile for charitable purposes (currently set by statute at 14 cents per mile), and the rate may not be less than the rate for medical purposes (19 cents per mile for 2016).
The bill exempts certain philanthropic business holdings from the tax on excess business holdings of private foundations if a foundation meets requirements for exclusive ownership, donating all profits to charity, and independent operation.
Cosponsors 18
Members who signed on, in the order they did. Signatures ran from Apr 6, 2016 to Nov 16, 2016; 1 is an original cosponsor, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-OR | Ron Wyden | Original | Apr 6, 2016 |
| R-KS | Pat Roberts | Apr 18, 2016 | |
| D-MI | Debbie Stabenow | Apr 19, 2016 | |
| D-MI | Gary C. Peters | Apr 19, 2016 | |
| R-OH | Rob Portman | Apr 21, 2016 | |
| D-MN | Amy Klobuchar | May 11, 2016 | |
| R-PA | Patrick J. Toomey | May 18, 2016 | |
| R-LA | David Vitter | May 25, 2016 | |
| R-IL | Mark Kirk | May 25, 2016 | |
| D-PA | Robert P. Casey Jr. | May 25, 2016 | |
| R-AR | John Boozman | Jun 13, 2016 | |
| D-NY | Charles E. Schumer | Jun 20, 2016 | |
| R-KS | Jerry Moran | Jun 20, 2016 | |
| D-IN | Joe Donnelly | Jul 12, 2016 | |
| D-WA | Maria Cantwell | Jul 14, 2016 | |
| R-ME | Susan M. Collins | Jul 14, 2016 | |
| D-NH | Jeanne Shaheen | Sep 28, 2016 | |
| D-DE | Christopher A. Coons | Nov 16, 2016 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| Senate | Finance Committee | Referred Apr 6, 2016 |
Actions 2
Everything that happened, newest first.
- Apr 6, 2016Introduced in Senate
- Apr 6, 2016Read twice and referred to the Committee on Finance.
In the Congressional Record 1
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| Senate | Debate and remarks S3977 | Orrin G. Hatch R-UT | Jun 15, 2016 |
Related bills 5
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 640 | Private Foundation Excise Tax Simplification Act of 2015 | Related bill | Feb 9, 2015 |
| S 909 | Philanthropic Enterprise Act of 2015 | Related bill | Apr 14, 2015 |
| HR 3732 | Philanthropic Enterprise Act of 2015 | Related bill | Oct 9, 2015 |
| HR 4907 | Grow Philanthropy Act of 2016 | Related bill | Apr 12, 2016 |
| HR 5007 | Philanthropic Enterprise Act of 2016 | Related bill | Apr 20, 2016 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- A bill to amend the Internal Revenue Code to extend and modify certain charitable tax provisions.
- Short Titles as Introduced
- Charities Helping Americans Regularly Throughout the Year Act
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
- Business investment and capital
- Charitable contributions
- Employee benefits and pensions
- Financial services and investments
- Income tax deductions
- Income tax exclusion
- Sales and excise taxes
- Social work, volunteer service, charitable organizations
- Tax administration and collection, taxpayers
- Tax-exempt organizations
- Taxation
Text 1
Each version as it was printed, newest first.
- Apr 6, 2016Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
