S. 632 - Lessen Impediments From Taxes (LIFT) for Charities Act

116TH CONGRESS
1ST SESSION

S. 632

To amend the Internal Revenue Code of 1986 to repeal the inclusion of certain fringe benefit
expenses for which a deduction is disallowed in unrelated business taxable income.

IN THE SENATE OF THE UNITED STATES

FEBRUARY 28, 2019

Mr. LANKFORD (for himself and Mr. COONS) 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 repeal the inclusion of certain fringe benefit expenses for which a deduction is disallowed in unrelated business taxable income.

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 "Lessen Impediments From Taxes for Charities Act" or the "LIFT for Charities Act".

SEC. 2. REPEAL OF INCLUSION OF CERTAIN FRINGE BENEFIT EXPENSES IN UNRELATED BUSINESS TAXABLE INCOME.

(a) IN GENERAL. — Section 512(a) of the Internal Revenue Code of 1986 is amended by striking paragraph (7).

(b) EFFECTIVE DATE. — The amendment made by this section shall take effect as if included in the amendments made by section 13703 of Public Law 115-97.