H.R.1575 - Giving Incentive and Volunteer Empowerment (GIVE) Act104th Congress (1995-1996)
|Sponsor:||Rep. Souder, Mark E. [R-IN-4] (Introduced 05/03/1995)|
|Committees:||House - Ways and Means|
|Latest Action:||House - 05/03/1995 Referred to the House Committee on Ways and Means. (All Actions)|
This bill has the status Introduced
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Summary: H.R.1575 — 104th Congress (1995-1996)All Information (Except Text)
Introduced in House (05/03/1995)
Giving Incentive and Volunteer Empowerment (GIVE) Act - Amends the Internal Revenue Code to increase (to a specified percentage above the regularly allowed amount) the tax deduction for charitable contributions by allowing a taxpayer to elect to treat a contribution made not later than the tax return filing date for the taxable year as made on the last day of such taxable year.
Allows individuals who do not itemize deductions a charitable contribution deduction to the extent the amount claimed exceeds $1,000 ($2,000 in the case of a joint return).
Excepts charitable contribution deductions from the overall limitation on itemized deductions.