Hurricane Dorian Charitable Giving Act

II 116TH CONGRESS 1ST SESSION S. 2476 To provide a temporary increase in the limitation on deductible contributions made for relief efforts related to Hurricane Dorian. IN THE SENATE OF THE UNITED STATES SEPTEMBER 12, 2019 Mr. SCOTT of Florida (for himself, Mr. RUBIO, Mr. ISAKSON, and Mr. GRA- HAM) introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To provide a temporary increase in the limitation on deduct- ible contributions made for relief efforts related to Hurri- cane Dorian. 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 ‘‘Hurricane Dorian 4 Charitable Giving Act’’. 5 VerDate Sep 11 2014 01:14 Sep 13, 2019 Jkt 089200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S2476.IS S2476 pamtmann on DSKBC07HB2PROD with BILLS 2 •S 2476 IS SEC. 2. TEMPORARY INCREASE IN LIMITATION ON DEDUCT- 1 IBLE CONTRIBUTIONS MADE FOR RELIEF EF- 2 FORTS RELATED TO HURRICANE DORIAN. 3 (a) SUSPENSION OF CURRENT LIMITATION.—Except 4 as otherwise provided in paragraph (2), qualified contribu- 5 tions shall be disregarded in applying subsections (b) and 6 (d) of section 170 of the Internal Revenue Code of 1986. 7 (b) APPLICATION OF INCREASED LIMITATION.—For 8 purposes of section 170 of the Internal Revenue Code of 9 1986— 10 (1) INDIVIDUALS.—In the case of an indi- 11 vidual— 12 (A) LIMITATION.—Any qualified contribu- 13 tion shall be allowed as a deduction only to the 14 extent that the aggregate of such contributions 15 does not exceed the excess of the taxpayer’s 16 contribution base (as defined in subparagraph 17 (H) of section 170(b)(1) of such Code) over the 18 amount of all other charitable contributions al- 19 lowed under section 170(b)(1) of such Code. 20 (B) CARRYOVER.—If the aggregate 21 amount of qualified contributions made in the 22 contribution year (within the meaning of section 23 170(d)(1) of such Code) exceeds the limitation 24 of subparagraph (A), such excess shall be added 25 VerDate Sep 11 2014 01:14 Sep 13, 2019 Jkt 089200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\S2476.IS S2476 pamtmann on DSKBC07HB2PROD with BILLS 3 •S 2476 IS to the excess described in section 1 170(b)(1)(G)(ii). 2 (2) CORPORATIONS.—In the case of a corpora- 3 tion— 4 (A) LIMITATION.—Any qualified contribu- 5 tion shall be allowed as a deduction only to the 6 extent that the aggregate of such contributions 7 does not exceed the excess of the taxpayer’s 8 taxable income (as determined under paragraph 9 (2) of section 170(b) of such Code) over the 10 amount of all other charitable contributions al- 11 lowed under such paragraph. 12 (B) CARRYOVER.—If the aggregate 13 amount of qualified contributions made in the 14 contribution year (within the meaning of section 15 170(d)(2) of such Code) exceeds the limitation 16 of subparagraph (A), such excess shall be ap- 17 propriately taken into account under section 18 170(d)(2) subject to the limitations thereof. 19 (c) QUALIFIED CONTRIBUTIONS.— 20 (1) IN GENERAL.—For purposes of this section, 21 the term ‘‘qualified contribution’’ means any chari- 22 table contribution (as defined in section 170(c) of 23 the Internal Revenue Code of 1986) if— 24 (A) such contribution— 25 VerDate Sep 11 2014 01:14 Sep 13, 2019 Jkt 089200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\S2476.IS S2476 pamtmann on DSKBC07HB2PROD with BILLS 4 •S 2476 IS (i) is made after August 23, 2019, 1 and before January 1, 2020, in cash to an 2 organization described in section 3 170(b)(1)(A) of such Code; and 4 (ii) is made for relief efforts related to 5 Hurricane Dorian; 6 (B) the taxpayer obtains from such organi- 7 zation contemporaneous written acknowledg- 8 ment (within the meaning of section 170(f)(8) 9 of such Code) that such contribution was used 10 (or is to be used) for relief efforts described in 11 subparagraph (A)(ii); and 12 (C) the taxpayer has elected the applica- 13 tion of this subsection with respect to such con- 14 tribution. 15 (2) EXCEPTION.—Such term shall not include a 16 contribution by a donor if the contribution is— 17 (A) to an organization described in section 18 509(a)(3) of the Internal Revenue Code of 19 1986; or 20 (B) for the establishment of a new, or 21 maintenance of an existing, donor advised fund 22 (as defined in section 4966(d)(2) of such Code). 23 (3) APPLICATION OF ELECTION TO PARTNER- 24 SHIPS AND S CORPORATIONS.—In the case of a part- 25 VerDate Sep 11 2014 01:14 Sep 13, 2019 Jkt 089200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6201 E:\BILLS\S2476.IS S2476 pamtmann on DSKBC07HB2PROD with BILLS 5 •S 2476 IS nership or S corporation, the election under para- 1 graph (1)(C) shall be made separately by each part- 2 ner or shareholder. 3 Æ VerDate Sep 11 2014 01:14 Sep 13, 2019 Jkt 089200 PO 00000 Frm 00005 Fmt 6652 Sfmt 6301 E:\BILLS\S2476.IS S2476 pamtmann on DSKBC07HB2PROD with BILLS