| Bill Number |
Sponsor |
Non-itemizer Deduction |
IRA Rollover |
Carry Over |
Capital Gains Property |
Increase Deduction Limits |
Expand Deduction for Food |
Donation of Land or Easements |
Art, Medical, Education |
Other Issues |
| S 35 Title VI |
Gramm |
Phased in, no floor. Deduct up to amount of standard deduction |
At 59 1/2 |
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Increase corporate ceiling from 10% of income to 15% |
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Tax Cuts |
| S. 793 and S. 780 |
Inhofe |
Up to Standard Deduction |
No Age Limit |
Extend Carryover Period |
Repeal Limit on donations, deduct FMV |
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Repeal excise tax on foundations |
| HR 804 |
Stearns |
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Repeal excise tax on foundations |
| S. 592 |
Lieberman, Santorum |
50% deduction for amounts over $500, increasing by 10% per year until 100% of amount of $500 |
At 59 1/2 |
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Any taxpayer can deduct FMV |
|
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Creates savings incentives for low income households |
| HR 774, 777, 776 |
Crane |
Deduct up to amount of standard deduction |
At 59 1/2 |
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Eliminate phase down in deduction for wealthy individuals and couples |
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| HR 824 |
Dunn |
Deduct up to amount of standard deduction |
At 59 1/2 |
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Eliminate phase down in deduction for wealthy individuals and couples |
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Can give contributions until April 15 for previous year tax benefits |
| HR 7 |
Watts, Hall |
Deduct up to amount of standard deduction |
At 59 1/2 |
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No liability for injury caused by donated equipment or machines |
Any taxpayer can deduct FMV |
|
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Savings incentives for low income households
Extends charitable choice |
| S. 205 |
Hutchinson |
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At 59 1/2 |
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| S. 298 |
McConnell |
Deduction limited to up to $500 for individual, $1000 for couple |
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| HR 494 |
Burton |
Nonitemizer credit up to $200 in lieu |
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| HR 673 |
Kolbe |
Deduct up to amount of standard deduction |
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Targeted tax federal credit with no offset |
| FY 2001 |
Clinton, President Bill |
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Donation of appreciated assets increased to 50% AGI |
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Foundations excise tax reductions |
| S 37 |
Lugar |
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Any taxpayer can deduct FMV |
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| HR 1659 |
A Houghton |
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Any taxpayer can deduct FMV |
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| S. 312, HR 990 |
Grassley, Hall |
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Allow 50% FMV deduction for food inventory |
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| HR 744, S. 393 |
Dunn, Frist |
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10 year carryover for medical research donations |
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| HR 136 |
Johnson |
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Repeals limits on donations of captial gains property and carryover for conservation donations |
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| S. 701 |
Baucus |
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Unlimited carryover for conservation donations, capital gain property donation by farmer not to exceed 100% contribution |
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Expands estate tax exclusion for land subject to conservation easement |
| HR 110 |
Hefley |
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Unlimited carryover for conservation donations, capital gain property donation by farmer not to exceed 100% contribution |
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Expands estate tax exclusion for land subject to conservation easement |
| S. 929, HR 2019 |
Tim Hutchinson, Asa Hutchinson |
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Allow workplace posting of charitable solicitations |
| HR 1598 |
Houghton |
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Allow FMV deduction for art, lit, music, scholarly works up to AGI |
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| HR 1836 |
Tax Bill |
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Allow FMV deduction for art, music, etc. created within 18 mos. Up to artistic AGI |
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| S. 638 |
Domenici |
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Art and collectible donations get same capital gain rate as donation of other long term assets |
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| S. 694 |
Leahy |
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FMV deduction for art, music, etc up to artistic AGI |
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| HR 1050 |
Andrews |
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Credit for donations of radio license to nonprofit that uses profits for art activity |
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| HR 1681 |
Hoekstra |
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Education tax credit $500 ind., $1000 joint, $100K corp. for donation to schools K-12 |
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| HR 370 |
Paul |
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$3K credit for tuition scholarship K-12, $3 credit for materials donation |
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| S. 462 |
Kyl |
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Credit $250, ind., $500 joint for donation to K-12 |
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| HR 1029 |
Shadegg |
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Credit $250, ind., $500 joint for donation to K-12 |
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