S. 2632 - Marjory Stoneman Douglas High School Family Support Act of 2018

115TH CONGRESS
2D SESSION

S. 2632

To accelerate the income tax benefits for charitable cash contributions
for the relief of the families of the slain or injured victims of the
Marjory Stoneman Douglas High School shooting, and for other purposes.

IN THE SENATE OF THE UNITED STATES

APRIL 9, 2018

Mr. Rubio (for himself and Mr. Nelson) introduced the following bill;
which was read twice and referred to the Committee on Finance

A BILL

To accelerate the income tax benefits for charitable cash contributions for the relief of the families of the slain or injured victims of the Marjory Stoneman Douglas High School shooting; 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 "Marjory Stoneman Douglas High School Family Support Act of 2018"

SEC. 2. SPECIAL RULES FOR CHARITABLE CASH CONTRIBUTIONS FOR THE RELIEF OF THE FAMILIES OF THE SLAIN OR INJURED VICTIMS OF THE MARJORY STONEMAN DOUGLAS HIGH SCHOOL SHOOTING.

(a) QUALIFIED CONTRIBUTION. — For purposes of this section, a qualified contribution is a cash contribution made for the relief of the spouses, dependents, or guardians of the slain or injured victims of the Marjory Stoneman Douglas High School shooting that occurred on February 14, 2018, for which a charitable contribution deduction is allowable under section 170 of the Internal Revenue Code of 1986.

(b) ACCELERATION OF INCOME TAX BENEFITS. — For purposes of section 170 of the Internal Revenue Code of 1986, a taxpayer may treat any qualified contribution made on after February 13, 2018, and before April 18, 2018, as if such contribution was made on December 31, 2017, and not in 2018.

(c) RECORDKEEPING. — In the case of a qualified contribution, a telephone bill showing the name of the donee organization, the date of the contribution, and the amount of the contribution shall be treated as meeting the record-keeping requirements of section 170(f)(17) of the Internal Revenue Code of 1986.

(d) CLARIFICATION THAT CONTRIBUTION WILL NOT FAIL TO QUALIFY AS A CHARITABLE CONTRIBUTION. — A cash contribution made for the relief of the spouses, dependents, or guardians of the slain or injured victims of the Margory Stoneman Douglas High School shooting that occurred on February 14, 2018, shall not fail to be treated as a charitable contribution for purposes of section 170 of the Internal Revenue Code of 1986 and subsection (a) of this section merely because such contribution is for the exclusive benefit of such spouses, dependents, or guardians. The preceding sentence shall apply to contributions made on or after February 14, 2018.

(e) CLARIFICATION THAT PAYMENTS MADE BY CHARITABLE ORGANIZATIONS TO FAMILIES TREATED AS EXEMPT PAYMENTS. — For purposes of the Internal Revenue Code of 1986, payments made on or after February 14, 2018, and on or before October 15, 2018, to the spouse, any dependent (as defined in section 152 of such Code), or any guardian of the slain or injured victims of the Marjory Stoneman Douglas High School shooting that occurred on February 14, 2018, by an organization which (determined without regard to any such payments) would be an organization exempt from tax under section 501(a) of such Code shall —

(1) be treated as related to the purpose or function constituting the basis for such organization's exemption under such section; and

(2) shall not be treated as inuring to the benefit of any private individual,

if such payments are made in good faith using a reasonable and objective formula which is consistently applied with respect to such victims.