(a)
In general— 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:
“30E. Contributions for providing medical care to the indigent
“(a) In general—There shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to the indigent care contributions made by the taxpayer during the taxable year.
“(b) Indigent care contribution—For purposes of this section, the term indigent care contribution means any contribution or gift of money or other property to or for the use of any person if such contribution or gift is used (or the proceeds from which are used) by such person for the purpose of providing medical care to indigent individuals in the United States.
“(c) Valuation and substantiation of contributions, etc—Rules similar to the rules of subsections (e) and (f) of section 170 shall apply for purposes of this section.
“(d) Application with other credits
“(1) Business credit treated as part of general business credit—So much of the credit which would be allowed under subsection (a) for any taxable year (determined without regard to this subsection) that is attributable to indigent care contributions made by—
“(A) any corporation or partnership, or
“(B) any other person if such contribution was made in connection with a trade or business carried on by such person,
“(2) Personal credit—For purposes of this title, the credit allowed under subsection (a) for any taxable year (determined after application of paragraph (1)) shall be treated as a credit allowable under subpart A for such taxable year.
“(e) Denial of double benefit—The amount of any deduction or other credit allowable under this chapter for any indigent care contribution shall be reduced by the amount of credit allowable under this section for such contribution.”
(b)
Conforming amendments—
(1)
Section 38(b) of such Code is amended by striking “plus” at the end of paragraph (35), by striking the period at the end of paragraph (36) and inserting “, plus”, and by adding at the end the following new paragraph:
“(37) the portion of the credit described in section 30E(d)(1) (relating to credit for contributions for providing medical care to the indigent).”
(2)
Section 38(c)(4)(B) of such Code is amended by striking “and” at the end of clause (viii), by striking the period at the end of clause (ix) and inserting “, and”, and by adding at the end the following new clause:
“(x) the portion of the credit described in section 30E(d)(1) (relating to credit for contributions for providing medical care to the indigent).”
(3)
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 the following new item:
(c)
Effective date— The amendments made by this section shall apply to contributions made after the date of the enactment of this Act.