[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[S. 1415 Introduced in Senate (IS)]







107th CONGRESS
  1st Session
                                S. 1415

 To amend the Internal Revenue Code of 1986 to enhance book donations 
                             and literacy.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           September 10, 2001

   Mr. Hatch (for himself, Mr. Baucus, and Mr. Dodd) introduced the 
 following bill; which was read twice and referred to the Committee on 
                                Finance

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to enhance book donations 
                             and literacy.

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

SECTION 1. CONTRIBUTIONS OF BOOK INVENTORY.

    (a) In General.--Section 170(e)(3) of the Internal Revenue Code of 
1986 (relating to certain contributions of ordinary income and capital 
gain property) is amended by adding at the end the following new 
subparagraph:
                    ``(D) Special rule for contributions of book 
                inventory for educational purposes.--
                            ``(i) Contributions of book inventory.--In 
                        determining whether a qualified book 
                        contribution is a qualified contribution, 
                        subparagraph (A) shall be applied without 
                        regard to whether or not--
                                    ``(I) the donee is an organization 
                                described in the matter preceding 
                                clause (i) of subparagraph (A), and
                                    ``(II) the property is to be used 
                                by the donee solely for the care of the 
                                ill, the needy, or infants.
                            ``(ii) Qualified book contribution.--For 
                        purposes of this paragraph, the term `qualified 
                        book contribution' means a charitable 
                        contribution of books, but only if the 
                        contribution is to an organization--
                                    ``(I) described in subclause (I) or 
                                (III) of paragraph (6)(B)(i), or
                                    ``(II) described in section 
                                501(c)(3) and exempt from tax under 
                                section 501(a) which is organized 
                                primarily to make books available to 
                                the general public at no cost or to 
                                operate a literacy program.''.
    (b) Effective Date.--The amendment made by this section shall apply 
to contributions made after the date of the enactment of this Act.
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