Charitable Incentives Provisions
by Guest Blogger, 9/9/2005
Senate Finance Committee Chairman Charles Grassley (R-IA) is now looking to attach charitable reform and incentive proposals to two major pieces of legislation that Congress will consider in the coming months. One expected legislative vehicle is a relief bill to aid victims of Hurricane Katrina that will move quickly starting next week. According to Senate Finance Committee staff, some of the provisions being discussed for the relief bill include funding for information sharing between federal and state governments, funding for electronic filing and incentives for donations of food and books (similar to those contained in the CARE Act).
Budget reconciliation legislation, expected to move in October, is the other legislative vehicle being considered by Chairman Grassley. Grassley and Senator Rick Santorum (R-PA), sponsor of the CARE Act in the Senate, met this week and discussed attaching the CARE Act (including the IRA charitable rollover provision) and charitable reform proposals to the budget reconciliation bill. Senate Finance Committee staff are still trying to determine what reform proposals will be included in the legislation, though they have indicated that a number of the proposals will mirror recommendations included in the Panel on the Nonprofit Sector’s final report.
