Bill > HR5840

This bill amends the Internal Revenue Code to expand tax deductions for charitable donations of food-related equipment and vehicles to nonprofit organizations serving communities in need. Specifically, the bill allows taxpayers to claim tax deductions for donating fully functional food storage equipment, food transportation vehicles, meal transport equipment, and meal preparation and packing equipment to organizations primarily focused on delivering food to individuals and communities experiencing food insecurity. The bill sets specific dollar limitations on these deductions: up to $500 for meal transport equipment and up to $15,000 for meal preparation and packing equipment. The deduction would be limited to 25% of the fair market value of the donated property. The bill defines in detail what qualifies as food storage equipment (such as industrial refrigerators and shelving), food transportation vehicles (delivery trucks and trailers), meal transport equipment (insulated bags and warming boxes), and meal preparation and packing equipment (industrial cooking machinery and packaging equipment). These tax deduction changes would take effect for taxable years beginning after December 31, 2025, providing an incentive for businesses and individuals to donate food-related infrastructure to charitable organizations addressing food insecurity.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/5840/all-info