[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4192 Introduced in House (IH)]

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114th CONGRESS
  1st Session
                                H. R. 4192

  To amend the Internal Revenue Code of 1986 to clarify the valuation 
    rule applicable to the early termination of certain charitable 
                          remainder unitrusts.


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                    IN THE HOUSE OF REPRESENTATIVES

                            December 8, 2015

 Mr. Tiberi (for himself, Mr. Rangel, Mr. Young of Indiana, Mr. Larson 
  of Connecticut, Mr. Neal, and Mr. Paulsen) introduced the following 
      bill; which was referred to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
  To amend the Internal Revenue Code of 1986 to clarify the valuation 
    rule applicable to the early termination of certain charitable 
                          remainder unitrusts.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. CLARIFICATION OF VALUATION RULE FOR EARLY TERMINATION OF 
              CERTAIN CHARITABLE REMAINDER UNITRUSTS.

    (a) In General.--Section 664(e) of the Internal Revenue Code of 
1986 is amended--
            (1) by adding at the end the following: ``In the case of 
        the early termination of a trust which is a charitable 
        remainder unitrust by reason of subsection (d)(3), the 
        valuation of interests in such trust for purposes of this 
        section shall be made under rules similar to the rules of the 
        preceding sentence.'', and
            (2) by striking ``for Purposes of Charitable Contribution'' 
        in the heading thereof and inserting ``of Interests''.
    (b) Effective Date.--The amendment made by this section shall apply 
to terminations of trusts occurring after the date of the enactment of 
this Act.
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