U.S. House of Representatives Acts on Charitable Legislation

The US House of Representatives this past week passed a bill that would address several important charitable priorities, including a provision to renew and make permanent the IRA Charitable Rollover. Long supported by the voluntary sector, the IRA Charitable Rollover offers a special way for those with IRAs to support charitable causes. The bill was approved by a vote of 279-137, with 39 Democrats joining the Republican majority to ensure passage by a wide margin. The bill now moves to the Senate.

Known as the Fighting Hunger Incentive Act of 2015, the bill includes the following provisions:

– The IRA Rollover.

– An extension and expansion of the charitable deduction for contributions of food inventory,

– An enhanced deduction for gifts of qualified conservation easements,

– Modification of the excise tax on the investment income of private foundations.

Unfortunately, the President has vowed to veto the bill if it reaches his desk in its present form. The House would need 290 votes to override a veto.

So, what does it all mean? Despite the time money and effort that has been expended on Capitol Hill in recent years to move these provisions into law, partisan squabbling continues to make reaching shore a greater challenge than it should be. At this point, the U.S. Senate still needs to pass the bill and then it needs to be signed by the President or, should he veto it, the House would need to garner enough votes to override a veto. In other words, the saga continues. I’ll keep you informed.

About ted sudol

Ted Sudol brings a cross-disciplinary perspective to his work in philanthropy & fundraising. Currently Managing Director at CARTER, a professional firm dedicated to advancing philanthropy worldwide, he has nearly four decades as a fundraiser, lawyer, executive, communicator and consultant in the voluntary, public and private sectors. From local to global, his work with educational, healthcare, arts & cultural, and community organizations ranges from designing new ventures, campaign readiness plans, and complex gift strategies for high net worth families to rebuilding and repositioning projects. His specialty is bringing together diverse parties in innovative collaborations. He devises simple approaches for complex matters to achieve successful outcomes. A graduate of Georgetown and Temple Law School, he currently serves on the board for AFP Shenandoah Valley Chapter, the AFP International Education Advisory Council, and the Virginia FundRaising Institute's Planning Committee. He has been a long-time board member for Big Brothers Big Sisters of Harrisonburg & Rockingham County, Virginia.
This entry was posted in Blog. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s