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H.R. 1104, Fair Treatment for All Gifts Act (CBO Report for Congress)

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Congress 114th
Date Requested March 25, 2015
Requested By House Committee on Ways and Means
Date Sent April 2, 2015
Description:

H.R. 1104 would amend the Internal Revenue Code to explicitly provide that donations to certain tax-exempt organizations would be deductible in computing taxable gifts for purposes of estate and gift taxation. The tax-exempt organizations include social welfare and other organizations described in the Internal Revenue Code under section 501(c)(4), labor and other organizations described under section 501(c)(5), and trade associations and similar organizations described under section 501(c)(6). The bill would codify the existing practices of the Internal Revenue Service in administering the tax law applicable to such donations.

The staff of the Joint Committee on Taxation (JCT) estimates that enacting H.R. 1104 would have no budgetary effect. Because enacting H.R. 1104 would not affect direct spending or revenues, pay-as-you-go procedures do not apply.

JCT has determined that the bill contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act.

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