Charitable Giving Tax Deduction Act

I 116TH CONGRESS 1ST SESSION H. R. 651 To amend the Internal Revenue Code of 1986 to allow the deduction for charitable contributions as an above-the-line deduction. IN THE HOUSE OF REPRESENTATIVES JANUARY 17, 2019 Mr. SMITH of New Jersey (for himself and Mr. CUELLAR) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to allow the deduction for charitable contributions as an above-the- line deduction. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. SHORT TITLE. 3 This Act may be cited as the ‘‘Charitable Giving Tax 4 Deduction Act’’. 5 VerDate Sep 11 2014 01:56 Jan 31, 2019 Jkt 089200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H651.IH H651 pamtmann on DSKBFK8HB2PROD with BILLS 2 •HR 651 IH SEC. 2. DEDUCTION FOR CHARITABLE CONTRIBUTIONS AL- 1 LOWED IN DETERMINING ADJUSTED GROSS 2 INCOME. 3 (a) IN GENERAL.—Section 62(a) of the Internal Rev- 4 enue Code of 1986 is amended by inserting after para- 5 graph (7) the following new paragraph: 6 ‘‘(8) CHARITABLE CONTRIBUTIONS.—The de- 7 duction allowed under section 170.’’. 8 (b) CONFORMING AMENDMENT.—Section 9 170(b)(1)(H) of such Code is amended by striking ‘‘(com- 10 puted without regard to any net operating loss carryback 11 to the taxable year under section 172).’’ and inserting the 12 following: ‘‘determined without regard to— 13 ‘‘(i) section 62(a)(8), and 14 ‘‘(ii) any net operating loss carryback 15 to the taxable year under section 172.’’. 16 (c) EFFECTIVE DATE.—The amendment made by 17 this section shall apply to taxable years beginning after 18 December 31, 2018. 19 Æ VerDate Sep 11 2014 01:56 Jan 31, 2019 Jkt 089200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\H651.IH H651 pamtmann on DSKBFK8HB2PROD with BILLS