3.0.0 1568 2023-01-12T17:52:49Z 2023-01-12T17:52:49Z Senate S S 2007-06-07 110 ssfi00 Finance Committee Senate Standing Referred to 2007-06-07T20:15:49Z Personal Philanthropy Account Act of 2007 110 2000 HR 2007-04-23 Referred to the House Committee on Ways and Means. Identical bill CRS 2007-06-07 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2007-06-07 Introduced in Senate IntroReferral 10000 9 Library of Congress I000055 Sen. Isakson, Johnny [R-GA] Johnny Isakson R GA N C000286 Sen. Chambliss, Saxby [R-GA] SAXBY CHAMBLISS R GA 2007-06-07 True H001016 Sen. Hutchison, Kay Bailey [R-TX] KAY HUTCHISON R TX BAILEY 2007-10-01 False Taxation Charitable contributions Charities Employee benefit plans Government Operations and Politics Government paperwork Income tax Labor and Employment Law Self-employed Social Welfare Tax deductions Tax exclusion Tax penalties Tax returns Trusts and trustees Taxation 00 2007-06-07 Introduced in Senate 2007-06-20T13:50:15Z Personal Philanthropy Account Act of 2007 - Amends the Internal Revenue Code to allow a tax deduction (whether or not the taxpayer itemizes deductions) for cash contributions to a personal philanthropy account. Defines "personal philanthropy account" as a tax-exempt trust created to make distributions for charitable purposes. Sets forth rules providing for employer contributions to such accounts, default charitable distributions in the event of an account holder's death, and minimum annual distributions.

Allows an exclusion from the gross income of an employee for contributions made by an employer to the employee's personal philanthropy account.

]]> Personal Philanthropy Account Act of 2007 Display Title Personal Philanthropy Account Act of 2007 Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to encourage private philanthropy. Introduced in Senate IS Short Titles as Introduced Personal Philanthropy Account Act of 2007 Introduced in Senate 2007-06-07T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110s1568is/xml/BILLS-110s1568is.xml 2007-06-07 Read twice and referred to the Committee on Finance. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.