S. 1159 · 114th Congress
Public Good IRA Rollover Act of 2015
- Stage
- In committee
- Sponsor
- Chuck Schumer
- Introduced
- 2015-04-30
- Latest action
- 2015-04-30 · Introduced in Senate
Summary
Public Good IRA Rollover Act of 2015
Amends the Internal Revenue Code to revise the tax exclusion of distributions from individual retirement accounts (IRAs) for charitable purposes to: (1) make such exclusion permanent; (2) eliminate the $100,000 cap on such exclusion; (3) permit tax-free distributions from IRAs to a split-interest entity (i.e., a charitable remainder annuity or unitrust, a pooled income fund, and a charitable gift annuity); and (4) allow distributions to a split-interest entity to be made when the account beneficiary attains age 59-1/2 (otherwise, age 70-1/2 for IRA distributions to a charitable organization).