S. 2530 - Charitable Equity for Veterans Act of 2021

117TH CONGRESS
1ST SESSION

S. 2530

To amend the Internal Revenue Code of 1986 to provide
for the deductibility of charitable contributions to certain
organizations for members of the Armed Forces.

IN THE SENATE OF THE UNITED STATES

JULY 29, 2021

Mr. CASSIDY (for himself and Ms. DUCKWORTH) introduced the following bill;
which was read twice and referred to the Committee on _____

A BILL

To amend the Internal Revenue Code of 1986 to provide for the deductibility of charitable contributions to certain organizations for members of the Armed Forces.

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 Equity for Veterans Act of 2021".

SEC. 2. DEDUCTIBILITY OF CHARITABLE CONTRIBUTIONS TO CERTAIN ORGANIZATIONS FOR MEMBERS OF THE ARMED FORCES.

(a) IN GENERAL. —

(1) DEFINITION OF A CHARITABLE CONTRIBUTION. — Section 170(c) of the Internal Revenue Code of 1986 is amended by inserting after paragraph (5) the following new paragraph:

"(6) An organization described in section 501(c)(19) that is a federally chartered corporation.".

(2) PERCENTAGE LIMITATION. — Section 170(b)(1)(A) of the Internal Revenue Code of 1986 is amended by striking "or" at the end of clause (viii), by adding "or" at the end of clause (ix), and by adding at the end the following new clause:

"(x) an organization described in section 501(c)(19) that is a federally chartered corporation,".

(b) EFFECTIVE DATE. — The amendments made by this section shall apply with respect to taxable years beginning after the date of enactment of this Act.