Bill > HR4192

This bill amends the Internal Revenue Code of 1986 to clarify how the value of certain charitable remainder unitrusts is determined when they are ended early. A charitable remainder unitrust (CRUT) is a type of trust that provides income to beneficiaries for a period of time, with the remaining assets going to a charity. This bill specifically addresses situations where a CRUT is terminated before its scheduled end date due to a specific provision (subsection (d)(3)). For tax purposes, particularly when calculating the charitable contribution deduction, the bill establishes a special rule for valuing the interests within such a trust upon its early termination, ensuring consistency with existing valuation methods for other parts of the trust. This change will be effective for any such trust terminations that occur after the bill becomes law.