S. 689Senate110th Congress (2007-2009)In Committee

Good Samaritan Hunger Relief Tax Incentive Extension Act of 2007

Introduced February 27, 2007

Legislative Activity

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SenateIntro Referral Latest Action

Read twice and referred to the Committee on Finance.

February 27, 2007

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SenateIntro Referral

Introduced in Senate

February 27, 2007

SenateIntro Referral

Sponsor introductory remarks on measure. (CR S2276)

February 27, 2007

SenateIntro Referral

Read twice and referred to the Committee on Finance.

February 27, 2007

Floor Debate

10 members

What members said about S. 689 on the floor

4 Republicans6 Democrats
Max Baucus
Sen. Max BaucusD-MT · Feb 27, 2007

Mr. President, energy is once again one of the top two or three domestic issues facing the Congress this year. Prices for gasoline, heating oil, electricity, and natural gas have soared in recent…

Russell D. Feingold
Sen. Russell D. FeingoldD-WI · Feb 27, 2007

Mr. President, today I am pleased to be joined by the Senator from Maine, Ms. Collins, in introducing the reauthorization of the Automated Defibrillators in Adam's Memory Act, or the ADAM Act. This…

Mary L. Landrieu
Sen. Mary L. LandrieuD-LA · Feb 27, 2007

Mr. President, I come to the floor today to highlight the ongoing needs of our small businesses and homeowners in the gulf coast who were devastated by Hurricanes Katrina and Rita. In Louisiana…

Arlen Specter
Sen. Arlen SpecterR-PA · Feb 27, 2007

Mr. President, I have sought recognition to introduce legislation along with my colleague from Pennsylvania, Senator Casey, that will honor the importance of the steel industry in the Commonwealth of…

Richard G. Lugar
Sen. Richard G. LugarR-IN · Feb 27, 2007

Mr. President, on behalf of myself and Senator Lincoln, I rise today to introduce the ``Good Samaritan Hunger Relief Tax Incentive Extension Act of 2007''. This important legislation extends and…

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Richard G. Lugar
Sen. Richard G. LugarR-IN · Feb 27, 2007

Mr. President, on behalf of myself and Senator Lincoln, I rise today to introduce the ``Good Samaritan Hunger Relief Tax Incentive Extension Act of 2007''. This important legislation extends and…

Susan M. Collins
Sen. Susan M. CollinsR-ME · Feb 27, 2007

Mr. President, I rise today to introduce the Commercial Fishermen Safety Act of 2007, a bill to help fishermen purchase the life-saving safety equipment they need to survive when disaster strikes. I…

Olympia J. Snowe
Sen. Olympia J. SnoweR-ME · Feb 27, 2007

Mr. President, as you may know, Turkey invaded the northern area of the Republic of Cyprus in the summer of 1974. At that time, less than 20 percent of the private real property in this area was…

Kent Conrad
Sen. Kent ConradD-ND · Feb 27, 2007

Mr. President, today I am pleased to introduce the Kidney Care Quality and Education Act. For the over 400,000 Americans living with kidney disease, the time has come to modernize and improve the…

Hillary Rodham Clinton
Sen. Hillary Rodham ClintonD-NY · Feb 27, 2007

Mr. President, today I am reintroducing with my colleague Senator Sununu The Cameron Gulbransen Kids and Cars Safety Act, a bill to improve the child safety features in new vehicles. While we hear a…

Richard J. Durbin
Sen. Richard J. DurbinD-IL · Feb 27, 2007

Mr. President, today I am introducing the Veterans' Survivor Education Enhancement Act. This legislation would expand education benefits for the survivors and dependents of fallen servicemembers.…

Bill Text

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Introduced in SenateIssued February 27, 2007

II

110th CONGRESS

1st Session

S. 689

IN THE SENATE OF THE UNITED STATES

February 27, 2007

Mr. Lugar (for himself and Mrs. Lincoln) 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 permanently extend and expand the charitable deduction for contributions of food inventory.

1.

Short title

This Act may be cited as the Good Samaritan Hunger Relief Tax Incentive Extension Act of 2007.

2.

Permanent extension and expansion of charitable deduction for contributions of food inventory

(a)

In general

Subparagraph (C) of section 170(e)(3) of the Internal Revenue Code of 1986 (relating to special rule for certain contributions of inventory and other property) is amended to read as follows:

(C)

Special rule for contributions of food inventory

(i)

General rule

In the case of a charitable contribution of food from any trade or business of the taxpayer, this paragraph shall be applied—

(I)

without regard to whether the contribution is made by a C corporation, and

(II)

only to food that is apparently wholesome food.

(ii)

Limitation on reduction

In the case of any such contribution, notwithstanding subparagraph (B), the amount of the reduction determined under paragraph (1)(A) shall not exceed the amount by which the fair market value of the apparently wholesome food exceeds twice the basis of such food.

(iii)

Determination of basis

If a taxpayer—

(I)

does not account for inventories under section 471, and

(II)

is not required to capitalize indirect costs under section 263A,

the taxpayer may elect, solely for purposes of subparagraph (B), to treat the basis of any apparently wholesome food as being equal to 50 percent of the fair market value of such food
(iv)

Determination of fair market value

In the case of any such contribution of apparently wholesome food which, solely by reason of internal standards of the taxpayer, lack of market, or similar circumstances, or which is produced by the taxpayer exclusively for the purposes of transferring the food to an organization described in subparagraph (A), cannot or will not be sold, the fair market value of such contribution shall be determined—

(I)

without regard to such internal standards, such lack of market, such circumstances, or such exclusive purpose, and

(II)

by taking into account the price at which the same or substantially the same food items (as to both type and quality) are sold by the taxpayer at the time of the contribution (or, if not so sold at such time, in the recent past).

(v)

Apparently wholesome food

For purposes of this subparagraph, the term apparently wholesome food has the meaning given to such term by section 22(b)(2) of the Bill Emerson Good Samaritan Food Donation Act (42 U.S.C. 1791(b)(2)), as in effect on the date of the enactment of this subparagraph.

.

(b)

Effective date

The amendment made by this section shall apply to contributions made after the date of the enactment of this Act, in taxable years ending after such date.