Bill > HR2909

This bill amends the Internal Revenue Code of 1986 to allow a one-time election for a qualified charitable distribution to a "split-interest entity," which includes certain charitable trusts and gift annuities. It also adjusts the limits for qualified charitable distributions to account for inflation. Specifically, the bill allows a taxpayer to make a one-time election to treat a distribution from an individual retirement account to a split-interest entity as meeting the requirements for a qualified charitable distribution, up to $50,000. The bill also requires that the split-interest entity be funded exclusively by qualified charitable distributions and that the income interest be limited to the individual, their spouse, or both. Additionally, the bill indexes the $100,000 limit for qualified charitable distributions to inflation.

Budget and Finance

https://www.congress.gov/bill/117th-congress/house-bill/2909/all-info