Status of the Federal Charitable Tax Incentives (America Gives More Act)America Gives More Act of 2015 Passes in the U.S. House
Thank you to everyone who reached out to your U.S. Representative! The House of Representatives passed the America Gives More Act of 2015 (H.R.644) on February 12, 2015, by a vote of 279 to 137. The bill, which would restore and make permanent three expired charitable giving incentives and streamline the foundation excise tax, now goes to the Senate.
Why the America Gives More Act Matters to You
The components of the America Gives More Act are needed to promote and ensure support for the work of charitable nonprofits, especially when demand for nonprofit services continues to rise and donations are not keeping up with demand. Each incentive has proven to be effective, yet Congress repeatedly lets them expire, creating uncertainty around giving.
- - The food donation tax deduction provision would allow small businesses donating wholesome excess food to a qualified nonprofit to take the same enhanced tax deduction C corporations have been permitted since 1976.
- - The enhanced tax deduction for conservation easement donations have helped America’s land trusts work with farmers, ranchers, and other modest-income landowners to increase voluntary land conservation by a third, to over a million acres a year.
- - The IRA charitable rollover option, which allowed individual taxpayers aged 70½ and older to donate up to $100,000 from their individual retirement accounts (IRAs) directly to charitable nonprofits, has provided needed support for the work of social service programs, religious organizations, arts and cultural institutions, schools, healthcare providers, and other charitable organizations — all of which benefit Americans across the country.
Update on Short-Term Charitable Tax Incentives (H.R. 5771) as of 12/17/14
On December 16, the Senate voted 76 to 16 to pass H.R.5771, the bill that renews 55 expired tax provisions through the end of 2014. The bill includes the three charitable giving incentives: the IRA rollover, the enhanced deduction for donations of food inventories, and the deduction for conservation easements.
The President is expected to sign the bill, although the date for doing so is uncertain. While the bill renews the provisions retroactively, those donors waiting for the incentives to become law before making donations have two weeks before the short-term extension expires again on December 31.
Update on Permanent Charitable Tax Incentives (H.R. 5806) as of 12/12/14
We are disappointed to report that the House failed to pass the permanent extension of the three charitable tax incentives on Dec. 11.
Many, many thanks to all of you who reached out to your U.S. Senators and Representatives to urge them to support the permanent extension of the three charitable tax incentives. Your response was amazing and we were only 8 votes short of the 2/3 of voting members needed to pass the bill. Our sector made a strong, unified showing thanks to your efforts!
Please take a moment to thank the Representatives who voted for H.R. 5806: Final Vote Roll Call
We also want to thank the National Council of Nonprofits for their support and tireless work on behalf of our sector.