Topic: CHARITY Act Introduced 

1.  CHARITY Act Introduced

Posted 06-23-2017 11:02 AM

A bi-partisan group of Senators introduced  the Charities Helping Americans Regularly Throughout the Year Act of 2017 (CHARITY Act) bill on June 13, 2017. While the bill is not expected to pass, supporters hope that provisions from the bill will be incorporated into the administration's expected upcoming tax reform.

The legislation, which is an amendment to the Internal Revenue Code, would:

  • permit tax-free distributions from individual retirement accounts (IRAs) to donor-advised funds (DAFs)
  • modify and simplify the excise tax on private foundation's investment income to a flat 1 percent
  • mandate that all organizations required to file a tax return do so electronically

The bill is similar to one that was introduced last year and which also did not pass. However, the bill's intent to encourage philanthropy by preserving the charitable giving tax deduction and the IRA roll-over charitable gift is viewed favorably by various nonprofit organizations.

AHP will continue to monitor the legislative landscape and share updates with members.

Sarah Busching
Comms Mgr
Association for Healthcare Philanthropy
Falls Church VA
(703) 532-3514