,,ii  #aac? ,,congress  #a/ ,session    
,s4 #aggb  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,novemb] #ba1 #bjac,mr4
 ,s*um] 7= himself1 ,mrs4 ,gillibr&1    
,mr4 ,pryor1 ,mr4 ,lev91 ,mr4 ,johnson (
 ,s\? ,dakota1 & ,ms4 ,coll9s7 introduc$
 ! foll[+ bill2 :i* 0 read twice &      
ref]r$ to ! ,committee on ,f9ance  ,a   
,,bill  ,to am5d ! ,int]nal ,rev5ue     
,code ( #aihf to exp& tax-free          
di/ributions f individual retirem5t     
acc\nts = *>itable purposes4  #a4 ,%ort 
title ,?is ,act may be cit$ z ! ,public 
,good ,,ira ,rollov] ,act ( #bjac4  #b4 
,tax-free di/ributions f individual     
retirem5t acc\nts = *>itable purposes   
7a7 ,9 g5]al ,p>agraph 7#h7 ( section   
#djh7;d7 ( ! ,int]nal ,rev5ue ,code (   
#aihf 7relat+ to tax treatm5t (         
di/ributions7 is am5d$ to read z foll[s3
  7#h7 ,di/ributions = *>itable purposes
  7,a7 ,9 g5]al ,no am\nt %all be       
includible 9 gross income by reason ( a 
qualifi$ *>itable di/ribution4  7,b7    
,qualifi$ *>itable di/ribution ,=       

purposes ( ?is p>agraph1 ! t]m qualifi$ 
*>itable di/ribution means any          
di/ribution f an individual retirem5t   
acc\nt-- 7i7 :i* is made directly by !  
tru/ee-- 7,i7 to an organization        
describ$ 9 section #agj7;c71 or  7,,ii7 
to a split-int]e/ entity1 &  7ii7 :i* is
 made on or aft] ! date t ! individual =
 ^: b5efit ! acc\nt is ma9ta9$ has      
atta9$-- 7,i7 9 ! case ( any di/ribution
 describ$ 9 clause 7i77,i71 age #gja_/b1
 &  7,,ii7 9 ! case ( any di/ribution   
describ$ 9 clause 7i77,,ii71 age        
#eia_/b4  ,a di/ribution %all be treat$ 
z a qualifi$ *>itable di/ribution only  
to ! ext5t t ! di/ribution w\ld be      
includible 9 gross income )\t reg>d to  
subp>agraph 7,a7 &1 9 ! case ( a        
di/ribution to a split-int]e/ entity1   
only if no p]son holds an income int]e/ 
9 ! am\nts 9 ! split-int]e/ entity      
attributable to su* di/ribution o!r ?an 
"o or m ( ! foll[+3 ! individual = ^:   
b5efit su* acc\nt is ma9ta9$1 ! sp\se ( 
su* individual1 or any organization     

describ$ 9 section #agj7;c74  7,c7      
,contributions mu/ be o!rwise d$uctible 
,= purposes ( ?is p>agraph-- 7i7 ,direct
 contributions ,a di/ribution to an     
organization describ$ 9 section #agj7;c7
 %all be treat$ z a qualifi$ *>itable   
di/ribution only if a d$uction = !      
entire di/ribution w\ld be all[able "u  
section #agj 7det]m9$ )\t reg>d to      
subsection 7b7 !re( & ?is p>agraph74    
7ii7 ,split-int]e/ gifts ,a di/ribution 
to a split-int]e/ entity %all be treat$ 
z a qualifi$ *>itable di/ribution only  
if a d$uction = ! entire value ( !      
int]e/ 9 ! di/ribution = ! use ( an     
organization describ$ 9 section #agj7;c7
 w\ld be all[able "u section #agj       
7det]m9$ )\t reg>d to subsection 7b7    
!re( & ?is p>agraph74  7,d7 ,application
 ( ,section #gb ,not)/&+ section #gb1 9 
det]m9+ ! ext5t to :i* a di/ribution is 
a qualifi$ *>itable di/ribution1 !      
entire am\nt ( ! di/ribution %all be    
treat$ z includible 9 gross income )\t  
reg>d to subp>agraph 7,a7 to ! ext5t t  

su* am\nt does n exce$ ! aggregate am\nt
 :i* w\ld h be5 s includible if all     
am\nts 9 all individual retirem5t plans 
( ! individual 7 di/ribut$ dur+ !       
taxable ye> & all su* plans 7 treat$ z  
#a contract = purposes ( det]m9+ "u     
section #gb ! aggregate am\nt :i* w\ld h
 be5 s includible4 ,prop] adju/m5ts %all
 be made 9 apply+ section #gb to o!r    
di/ributions 9 su* taxable ye> &        
subsequ5t taxable ye>s4  7,e7 ,special  
rules = split-int]e/ entities  7i7      
,*>itable rema9d] tru/s ,not)/&+ section
 #ffd7;b71 di/ributions made f a tru/   
describ$ 9 subp>agraph 7,g77i7 %all be  
treat$ z ord9>y income 9 ! h&s ( !      
b5efici>y to :om is paid ! annuity      
describ$ 9 section #ffd7;d77#a77;,a7 or 
! paym5t describ$ 9 section             
#ffd7;d77#b77;,a74  7ii7 ,pool$ income  
funds ,no am\nt %all be includible 9 !  
gross income ( a pool$ income fund 7z   
def9$ 9 subp>agraph 7,g77ii77 by reason 
( a qualifi$ *>itable di/ribution to su*
 fund1 & all di/ributions f ! fund :i*  

are attributable to qualifi$ *>itable   
di/ributions %all be treat$ z ord9>y    
income to ! b5efici>y4  7iii7 ,*>itable 
gift annuities ,qualifi$ *>itable       
di/ributions made = a *>itable gift     
annuity %all n be treat$ z an inve/m5t 9
 ! contract4  7,f7 ,d5ial ( d$uction    
,qualifi$ *>itable di/ributions %all n  
be tak5 into acc\nt 9 det]m9+ ! d$uction
 "u section #agj4  7,g7 ,split-int]e/   
entity def9$ ,= purposes ( ?is p>agraph1
 ! t]m split-int]e/ entity means-- 7i7 a
 *>itable rema9d] annuity tru/ or a     
*>itable rema9d] unitru/ 7z su* t]ms are
 def9$ 9 section #ffd7;d77 :i* mu/ be   
fund$ exclusively by qualifi$ *>itable  
di/ributions1  7ii7 a pool$ income fund 
7z def9$ 9 section #fdb7;c77#e771 b only
 if ! fund acc\nts sep>ately = am\nts   
attributable to qualifi$ *>itable       
di/ributions1 &  7iii7 a *>itable gift  
annuity 7z def9$ 9 section #eja7m77#e774
  4  7b7 ,effective date ,! am5dm5t made
 by ?is section %all apply to           
di/ributions made 9 taxable ye>s beg9n+ 

aft] ,decemb] #ca1 #bjac4