Interest for Others Act of 2017
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Feb 6, 2017)
Interest for Others Act of 2017
This bill amends the Internal Revenue Code to allow individuals, trusts, or estates to exclude from gross income up to $50 per year of interest and money market fund dividend income that is contributed to charity using a program adopted by a financial institution or a money market fund.
Details regarding the payments to charities must be reported to the Internal Revenue Service by any person that: (1) pays certain interest or dividends and has a charitable contribution program, or (2) is an aggregator that receives contributions and makes payments to charities under a program.
What just happenedFeb 6, 2017
Referred to the House Committee on Ways and Means.
Who’s behind it
- Introduced in HouseFeb 6, 2017
- Feb 6, 2017IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Feb 6, 2017IntroReferralIntro-H
Introduced in House
- Feb 6, 2017IntroReferral1000
Introduced in House