Text: H.R.4907 — 114th Congress (2015-2016)All Information (Except Text)

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Introduced in House (04/12/2016)


114th CONGRESS
2d Session
H. R. 4907


To amend the Internal Revenue Code of 1986 to allow tax-free distributions from individual retirement plans to donor-advised funds.


IN THE HOUSE OF REPRESENTATIVES

April 12, 2016

Mr. Holding (for himself, Mr. Tiberi, Mr. Nunes, Mr. Paulsen, Mr. Kelly of Pennsylvania, and Mr. Gene Green of Texas) 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 allow tax-free distributions from individual retirement plans to donor-advised funds.

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

SECTION 1. Short title.

This Act may be cited as the “Grow Philanthropy Act of 2016”.

SEC. 2. Tax-free distributions from individual retirement plans to donor-advised funds.

(a) In general.—Section 408(d)(8)(B)(i) of the Internal Revenue Code of 1986 is amended by striking “or any fund or account described in section 4966(d)(2)”.

(b) Effective date.—The amendment made by this section shall apply to distributions made in taxable years beginning after December 31, 2016.