US Codex
Bill
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Grow Philanthropy Act of 2016

H.R. 4907 · 114th Congress · Apr 12, 2016 · Lineage

A BILL

To amend the Internal Revenue Code of 1986 to allow tax-free distributions from individual retirement plans to donor-advised funds.

Section 1 Short title

This Act may be cited as the “Grow Philanthropy Act of 2016”.

Sec. 2 Tax-free distributions from individual retirement plans to donor-advised funds

(a)
In general— Section 408(d)(8)(B)(i) of the Internal Revenue Code of 1986 is amended by striking “or any fund or account described in section 4966(d)(2)”.
(b)
Effective date— The amendment made by this section shall apply to distributions made in taxable years beginning after December 31, 2016.