H.R. 4907 · 114th Congress
Grow Philanthropy Act of 2016
- Stage
- In committee
- Sponsor
- George Holding
- Introduced
- 2016-04-12
- Latest action
- 2016-04-12 · Introduced in House
Summary
Grow Philanthropy Act of 2016
This bill amends the Internal Revenue Code to exclude from the gross income of an individual who is at least 70-1/2 years of age up to $100,000 in distributions from an individual retirement plan to a donor-advised fund.
(A donor-advised fund is a fund or account that is separately identified by reference to contributions of a donor or donors. The account is owned and controlled by a sponsoring charitable organization, while the donor retains advisory privileges with respect to the distribution and investment of funds in the account.)