S. 1159 · 114th Congress

Public Good IRA Rollover Act of 2015

Stage
In committee
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).