[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[H.R. 494 Introduced in House (IH)]







107th CONGRESS
  1st Session
                                H. R. 494

  To amend the Internal Revenue Code of 1986 to allow all taxpayers a 
 credit against income tax for up to $200 of charitable contributions.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            February 7, 2001

Mr. Burton of Indiana (for himself, Mr. Duncan, Ms. Hart, Mr. Horn, Mr. 
 Paul, Mr. Pitts, and Mr. Terry) 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 all taxpayers a 
 credit against income tax for up to $200 of charitable contributions.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Charitable Giving Act of 2001''.

SEC. 2. CREDIT FOR CERTAIN CHARITABLE CONTRIBUTIONS.

    (a) General Rule.--Subpart B of part IV of subchapter A of chapter 
1 of the Internal Revenue Code of 1986 is amended by adding at the end 
the following new section:

``SEC. 30B. CREDIT FOR CERTAIN CHARITABLE CONTRIBUTIONS.

    ``(a) General Rule.--There shall be allowed as a credit against the 
tax imposed by this chapter for the taxable year an amount equal to the 
charitable contributions (as defined in section 170(c)) made in cash by 
the taxpayer during the taxable year.
    ``(b) Maximum Credit.--The credit allowed by subsection (a) for any 
taxable year shall not exceed $200.
    ``(c) Limitation Based on Liability for Tax.--The credit allowed by 
subsection (a) for any taxable year shall not exceed the excess (if 
any) of--
            ``(1) the regular tax for the taxable year reduced by the 
        sum of the credits allowable under subpart A and the preceding 
        sections of this subpart, over
            ``(2) the tentative minimum tax for the taxable year.
    ``(d) Special Rules.--
            ``(1) Credit in lieu of deduction.--The credit provided by 
        subsection (a) for any charitable contribution shall be in lieu 
        of any deduction otherwise allowable under this chapter for 
        such contribution.
            ``(2) Election to have section not apply.--A taxpayer may 
        elect for any taxable year to have this section not apply.''.
    (b) Clerical Amendment.--The table of sections for subpart B of 
part IV of subchapter A of chapter 1 of such Code is amended by adding 
at the end thereof the following new item:

                              ``Sec. 30B. Credit for certain charitable 
                                        contributions.''
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2000.
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