H.R. 3724

Charitable Donation Relief Act of 2005

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I

109th CONGRESS

1st Session

H. R. 3724

IN THE HOUSE OF REPRESENTATIVES

September 8, 2005

Mr. Wicker introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To waive the individual and corporate income limitations for charitable contributions for the relief of victims of Hurricane Katrina.

1.

Short title

This Act may be cited as the Charitable Donation Relief Act of 2005.

2.

Individual and corporate income limitations not to apply to charitable contributions for relief of victims of Hurricane Katrina

(a)

In general

In the case of charitable contributions for the relief of victims of Hurricane Katrina, the 50 percent limitation in paragraph (1) and the 10 percent limitation in paragraph (2) of section 170(b) of the Internal Revenue Code of 1986 (relating to percentage limitations) shall not apply to contributions made after August 28, 2005, and before January 1, 2006.

(b)

Carryover

Contributions subject to subsection (a) shall not be taken into account under section 170(d) of such Code (relating to carryovers of excess contributions).