S.Amdt. 2637
What it does: Adds SEC. ___. ALTERNATIVE PERCENTAGE LIMITATION FOR CORPORATE CHARITABLE CONTRIBUTIONS TO THE MATHEMATICS AND SCIENCE PARTNERSHIP PROGRAM on page 235, between lines 13 and 14
Sen. Norm Coleman (R-MN)What it changes
1 change to S. 2020
Adds SEC. ___. ALTERNATIVE PERCENTAGE LIMITATION FOR CORPORATE CHARITABLE CONTRIBUTIONS TO THE MATHEMATICS AND SCIENCE PARTNERSHIP PROGRAM on page 235, between lines 13 and 14
Adds a sectionPrinted pageInserted: SEC. ___. ALTERNATIVE PERCENTAGE LIMITATION FOR CORPORATE CHARITABLE CONTRIBUTIONS TO THE MATHEMATICS AND SCIENCE PARTNERSHIP PROGRAM.
Inserted: (a) In General.--Section 170(b) (related to percentage limitations) is amended by adding at the end the following new paragraph:
Inserted: "(3) Special rule for corporate contributions to the mathematics and science partnership program.--
Inserted: "(A) In general.--In the case of a corporation which makes an eligible mathematics and science contribution--
Inserted: "(i) the limitation under paragraph (2) shall apply separately with respect to all such contributions and all other charitable contributions, and
Inserted: "(ii) paragraph (2) shall be applied with respect to all eligible mathematics and science contributions by substituting '15 percent' for '10 percent'.
Inserted: "(B) Eligible mathematics and science contribution.--
Inserted: "(i) In general.--For purposes of this paragraph, the term 'eligible mathematics and science contribution' means a charitable contribution (other than a contribution of used equipment) to a qualified partnership for the purpose of an activity described in section 2202(c) of the Elementary and Secondary Education Act of 1965.
Inserted: "(ii) Qualified partnership.--The term 'qualified partnership' means an eligible partnership (within the meaning of section 2201(b)(1) of the Elementary and Secondary Education Act of 1965), but only to the extent that such partnership does not include a person other than a person described in paragraph (1)(A).
Inserted: "(C) Termination.--This paragraph shall not apply to any contributions made in taxable years beginning after December 31, 2006.".
Inserted: (b) Effective Date.--The amendment made by this section shall apply to contributions made in taxable years beginning after December 31, 2005.
Original wording
On page 235, between lines 13 and 14, insert the following:
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
SA 2637. Mr. COLEMAN (for himself and Mr. Pryor) submitted an amendment intended to be proposed by him to the bill S. 2020, to provide for reconciliation pursuant to section 202(b) of the concurrent resolution on the budget for fiscal year 2006; which was ordered to lie on the table; as follows:
On page 235, between lines 13 and 14, insert the following:
SEC. ___. ALTERNATIVE PERCENTAGE LIMITATION FOR CORPORATE CHARITABLE CONTRIBUTIONS TO THE MATHEMATICS AND SCIENCE PARTNERSHIP PROGRAM.
(a) In General.--Section 170(b) (related to percentage limitations) is amended by adding at the end the following new paragraph:
“(3) Special rule for corporate contributions to the mathematics and science partnership program.--
“(A) In general.--In the case of a corporation which makes an eligible mathematics and science contribution--
“(i) the limitation under paragraph (2) shall apply separately with respect to all such contributions and all other charitable contributions, and
“(ii) paragraph (2) shall be applied with respect to all eligible mathematics and science contributions by substituting ‘15 percent' for ‘10 percent'.
“(B) Eligible mathematics and science contribution.--
“(i) In general.--For purposes of this paragraph, the term ‘eligible mathematics and science contribution' means a charitable contribution (other than a contribution of used equipment) to a qualified partnership for the purpose of an activity described in section 2202(c) of the Elementary and Secondary Education Act of 1965.
“(ii) Qualified partnership.--The term ‘qualified partnership' means an eligible partnership (within the meaning of section 2201(b)(1) of the Elementary and Secondary Education Act of 1965), but only to the extent that such partnership does not include a person other than a person described in paragraph (1)(A).
“(C) Termination.--This paragraph shall not apply to any contributions made in taxable years beginning after December 31, 2006.”.
(b) Effective Date.--The amendment made by this section shall apply to contributions made in taxable years beginning after December 31, 2005.
Legislative Activity
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Senate amendment submitted
November 17, 2005