A bill to amend the Internal Revenue Code of 1954 to modify the restrictions contained in section 170(e) in the case of certain charitable contributions of ordinary income property.

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Status In Committee
Sponsor Jacob Javits
Citation 94-S-1435
Actions 2
Introduced Apr 15th, 1975
Cosponsors
Last Action Apr 15th, 1975
Policy Area
✓
Introduced Senate Apr 15
Senate
House
President
Enacted

Summary

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Provides under the Internal Revenue Code that the reduction in the value of a charitable contribution shall be decreased by 75 percent in the case of a contribution of a copyright, a literary, musical, or artistic composition, a letter or memorandum, or similar property by a taxpayer. Limits such tax deduction to an amount not to exceed the income for such year from the sale or exchange of property which qualifies for the reduction under this Act.

Actions

2
Senate
INTRODUCED
INTRODUCED
Apr 15, 1975
ON FLOOR
REFERRED TO COMMITTEE
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