[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[S. 1429 Introduced in Senate (IS)]

114th CONGRESS
  1st Session
                                S. 1429

     To amend the Internal Revenue Code of 1986 to provide for the 
  deductibility of charitable contributions to agricultural research 
                 organizations, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                              May 21, 2015

Mr. Thune (for himself, Ms. Stabenow, Mr. Inhofe, Mr. Wyden, Mr. Blunt, 
 Mr. Cochran, and Ms. Klobuchar) 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 provide for the 
  deductibility of charitable contributions to agricultural research 
                 organizations, and for other purposes.

    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 Agricultural Research 
Act''.

SEC. 2. DEDUCTIBILITY OF CHARITABLE CONTRIBUTIONS TO AGRICULTURAL 
              RESEARCH ORGANIZATIONS.

    (a) In General.--Section 170(b)(1)(A)(iii) of the Internal Revenue 
Code of 1986 is amended to read as follows:
                            ``(iii) an organization the principal 
                        purpose or functions of which are the providing 
                        of medical or hospital care or medical 
                        education or medical research, or agricultural 
                        research, if the organization is a hospital, or 
                        if the organization is a medical or 
                        agricultural research organization directly 
                        engaged in the continuous active conduct of 
                        medical or agricultural research in conjunction 
                        with a hospital (in the case of medical 
                        research) or college or university of 
                        agriculture (in the case of agricultural 
                        research), and during the calendar year in 
                        which the contribution is made such 
                        organization is committed to spend such 
                        contributions for such research before January 
                        1 of the fifth calendar year which begins after 
                        the date such contribution is made,''.
    (b) Expenditures To Influence Legislation.--Section 501(h)(4)(B) of 
the Internal Revenue Code of 1986 is amended by striking 
``organizations)'' and inserting ``organizations; and colleges or 
universities of agriculture and agricultural research organizations)''.
    (c) Effective Date.--The amendments made by this section shall 
apply to contributions made on and after the date of the enactment of 
this Act.
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