II
110th CONGRESS
1st Session
S. 1540
IN THE SENATE OF THE UNITED STATES
June 5, 2007
Mrs. Dole (for herself, Mrs. Lincoln, Mr. Burr, Mr. Durbin, Mr. Vitter, and Mr. Allard) 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 provide a tax credit for the transportation of food for charitable purposes.
Short title
This Act may be cited as the
Hunger Relief Trucking Tax Credit
Act
.
Credit for transportation of food for charitable purposes
In General
Subpart B of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section:
Credit for transportation of food for charitable purposes
Allowance of credit
There shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to 25 cents for each mile for which the taxpayer uses a qualified truck for a qualified charitable purpose during the taxable year.
Qualified charitable purpose
For purposes of this section, the term qualified charitable purpose means the transportation of food in connection with the hunger relief efforts of an organization which is described in section 501(c)(3) and is exempt from taxation under section 501(a) (other than a private foundation, as defined in section 509(a), which is not an operating foundation, as defined in section 4942(j)(3)).
Qualified truck
For purposes of this section, the term qualified truck means a truck which—
has a capacity of not less than 1,760 cubic square feet,
is owned, leased, or operated by the taxpayer, and
is ordinarily used for hauling property in the course of a business.
Other rules
Denial of double benefit
No credit shall be allowed under this section with respect to any amount for which a deduction is allowed under any other provision of this chapter.
No credit where taxpayer is compensated
No credit shall be allowed under this section if the taxpayer receives compensation in connection with the use of the qualified truck for the qualified charitable purpose.
Capacity requirement
No credit shall be allowed under this section unless at least 50 percent of the hauling capacity of the qualified truck (measured in cubic square feet) is used for the qualified charitable purpose.
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Conforming amendment
The table of sections for subpart B of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new item:
Sec. 30D. Credit for transportation of food for charitable purposes..
Effective date
The amendments made by this section shall apply to taxable years ending after December 31, 2007.