II
110th CONGRESS
2d Session
S. 3421
IN THE SENATE OF THE UNITED STATES
August 1, 2008
Mr. Casey 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 standard mileage rate for charitable purposes to the standard mileage rate established by the Secretary of the Treasury for business purposes.
Standard mileage rate for charitable purposes same as for business purposes
In general
Subsection (i) of
section
170 of the Internal Revenue Code of 1986 (relating to standard
mileage rate for use of passenger automobile) is amended by striking 14
cents per mile
and inserting the standard mileage rate for
business purposes prescribed by the Secretary for purposes of this chapter
which is in effect on the date of the contribution
.
Effective date
The amendment made by subsection (a) shall apply to taxable years beginning after December 31, 2007.