US HB3259 | 2019-2020 | 116th Congress

US Congress House Bill 3259 (Prior Session Legislation)

Status

Spectrum: Bipartisan Bill
Status: Introduced on June 13 2019 - 25% progression, died in committee
Action: 2019-06-13 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Modifies several tax provisions in the Internal Revenue Code 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 that rate may not be less than the rate for medical purposes (20 cents per mile in 2019). The bill requires tax-exempt organizations to 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 requires 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.

Title

Charities Helping Americans Regularly Throughout the Year Act of 2019

History

Date	Chamber	Action
2019-06-13	House	Referred to the House Committee on Ways and Means.
2019-06-13	House	Introduced in House

Same As/Similar To

SB1475 (Same As) 2019-05-15 - Read twice and referred to the Committee on Finance. (text: CR S2887-2888)
HB4953 (Related) 2019-10-31 - Referred to the House Committee on Ways and Means.