II
109th CONGRESS
2d Session
S. 2272
IN THE SENATE OF THE UNITED STATES
February 10 (legislative day, February 9), 2006
Mr. Coleman (for himself and Mr. Johnson) introduced the following bill; which was read twice and referred to the Committee on Finance
A BILL
To amend the Internal Revenue Code of 1986 to increase the deduction for host families of foreign exchange and other students from $50 per month to $200 per month.
Short title
This Act may be cited as the
Youth Exchange Support Act of
2006
.
Increase in charitable deduction for amounts paid to maintain certain students as members of taxpayer’s household
In general
Subparagraph (A) of section 170(g)(2) of the Internal
Revenue Code of 1986 (relating to amounts paid to maintain certain students as
members of taxpayer’s household) is amended by striking $50
and
inserting $200
.
Adjustment for inflation
Section 170(g) of such Code is amended by adding at the end the following new paragraph:
Adjustment for inflation
In general
In the case of any taxable year beginning in a calendar year after 2006, the $200 amount contained in paragraph (2)(A) shall be increased by an amount equal to—
$200, multiplied by
the
cost-of-living adjustment determined under section 1(f)(3) for the calendar
year in which the taxable year begins by substituting calendar year
2005
for calendar year 1992
in subparagraph (B)
thereof.
Rounding
If any increase determined under paragraph (1) is not a multiple of $10, such increase shall be rounded to the next highest multiple of $10.
.
Effective date
The amendments made by this Act shall apply to taxable years beginning after December 31, 2005.