Charities Helping Americans Regularly Throughout the Year Act of 2017
Latest action · Jun 13, 2017 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.
- IntroducedJun 13, 2017
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Charities Helping Americans Regularly Throughout the Year Act of 2017
This bill amends the Internal Revenue Code to modify several tax provisions affecting charitable contributions and tax-exempt organizations.
The Internal Revenue Service 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 (17 cents per mile for 2017).
The bill modifies the substantiation requirements for charitable contributions to eliminate an exemption for contributions that are reported on a return filed by a tax-exempt organization.
Tax-exempt organizations must file their returns in electronic form.
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). The bill also modifies disclosure requirements for DAFs.
(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.)
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.
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 14
Members who signed on, in the order they did. Signatures ran from Jun 13, 2017 to May 7, 2018, with 3 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-KS | Pat Roberts | Original | Jun 13, 2017 |
| D-PA | Robert P. Casey Jr. | Original | Jun 13, 2017 |
| D-OR | Ron Wyden | Original | Jun 13, 2017 |
| R-KS | Jerry Moran | Jun 15, 2017 | |
| D-IN | Joe Donnelly | Jun 20, 2017 | |
| D-MI | Gary C. Peters | Jun 22, 2017 | |
| D-MN | Amy Klobuchar | Jun 27, 2017 | |
| R-OH | Rob Portman | Jul 10, 2017 | |
| D-MI | Debbie Stabenow | Jul 12, 2017 | |
| R-AR | John Boozman | Jul 24, 2017 | |
| R-SD | Mike Rounds | Sep 7, 2017 | |
| D-NH | Jeanne Shaheen | Oct 30, 2017 | |
| R-GA | Johnny Isakson | Feb 6, 2018 | |
| R-GA | David Perdue | May 7, 2018 |
Actions 2
Everything that happened, newest first.
- Jun 13, 2017Introduced in Senate
- Jun 13, 2017Read twice and referred to the Committee on Finance.
Related bills 4
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 587 | Protecting Charitable Contributions Act of 2017 | Related bill | Mar 9, 2017 |
| HR 2916 | Charities Helping Americans Regularly Throughout the Year Act of 2017 | Identical bill | Jun 15, 2017 |
| HR 3035 | Philanthropic Enterprise Act of 2017 | Related bill | Jun 23, 2017 |
| HR 5443 | To amend the Internal Revenue Code of 1986 to require electronic filing of the annual returns of exempt organizations and provide for making such returns available for public inspection. | Related bill | Apr 18, 2018 |
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.
- Jun 13, 2017Introduced 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.