,i  #aafth ,,congress  #ast ,session    
,h4 ,r4 #djjb  ,,in ,,the ,,house ,,of  
,,representatives  ,july #be1 #bjai,mr4 
,buchanan 7for himself and ,mr4 ,suozzi7
 introduced the following bill2 which   
was referred to the ,committee on ,ways 
and ,means  ,a ,,bill  ,to amend the    
,internal ,revenue ,code of #aihf to    
provide for flexible giving accounts1   
and for other purposes4  #a4 ,short     
title ,this ,act may be cited as the    
,everyday ,philanthropist ,act4  #b4    
,flexible giving accounts  7a7 ,in      
general ,subsection 7a7 of section #acb 
of the ,internal ,revenue ,code of #aihf
 is amended by striking or at the end of
 paragraph 7#g71 by striking the period 
at the end of paragraph 7#h7 and        
inserting 1 or1 and by inserting after  
paragraph 7#h7 the following3  7#i7     
flexible giving account4  4  7b7        
,flexible giving account ,section #acb  
of such ,code is amended by             
redesignating subsection 7o7 as         
subsection 7p7 and by inserting after   

subsection 7n7 the following3  7o7      
,flexible giving account  7#a7 ,in      
general  7,a7 ,flexible giving account  
,for purposes of this subsection1 a     
flexible giving account is an account   
under an arrangement which is a separate
 written plan of an employer for the    
exclusive benefit of all eligible       
employees under which-- 7i7 an employee 
may elect--  7,i7 to receive a reduction
 in compensation and have the employer  
deposit the amount of the reduction in a
 flexible giving account of the electing
 employee1 and  7,,ii7 before the       
reduction under subclause 7,i71 to      
designate one or more entities to which 
distributions are to be made from the   
account1  7ii7 the employer1 as soon    
after the deposit under clause 7i77,i7  
as practicable1 makes the disbursements 
designated under clause 7i71  7iii7 the 
employer provides reasonable            
notification of the availability and    
terms of the arrangement to all eligible
 employees1  7iv7 the employer maintains

 a separate flexible giving account on  
behalf of each employee for whom an     
election is in effect clause 7i71 and   
7v7 the employer agrees to furnish to   
each participating employee1 on or      
before ,january #ca of each year1 a     
written accounting of the employee's    
flexible giving account showing deposits
 and disbursements during the previous  
calendar year4  7,b7 ,maximum reduction 
,the amount of a reduction under        
subparagraph 7,a7 for a taxable year    
shall not exceed #b1gjj4  7#b7 ,eligible
 employee ,for purposes of this         
subsection--  7,a7 ,in general  7i7     
,eligible employee ,the term eligible   
employee means1 with respect to a       
flexible giving account1 any employee   
who is not a highly compensated or key  
employee and who is eligible to         
participate in the arrangement4  7ii7   
,highly compensated employee ,the term  
highly compensated employee has the     
meaning given such term by section      
#dad7q74  7iii7 ,key employee ,the term 

key employee has the meaning given such 
term by section #daf7;i74  7,b7 ,certain
 employees may be excluded ,for purposes
 of subparagraph 7,a71 an employer may  
elect to exclude under the arrangement  
described in paragraph 7#a7 any employee
 who--  7i7 has not attained the age of 
#ba before the close of a plan year of  
the arrangement1  7ii7 has less than #a 
year of service with the employer as of 
any day during the plan year1 and  7iii7
 is described in section                
#daj7;b77#c77;,c7 7relating to          
nonresident aliens working outside the  
,united ,states74  7,c7 ,shorter service
 period2 younger age ,an arrangement may
 provide a shorter period of service or 
younger age for purposes of subparagraph
 7,b74  7#c7 ,tax treatment of          
distributions  7,a7 ,in general ,any    
distribution from a flexible giving     
account shall be includible in the gross
 income of the distributee in the manner
 as provided in section #gb4  7,b7      
,exception for charitable contributions 

7i7 ,in general ,subparagraph 7,a7 shall
 not apply to any distribution which is 
a charitable contribution made pursuant 
to paragraph 7#a74  7ii7 ,coordination  
with section #agj ,distributions from   
the flexible giving account of an       
employee-- 7,i7 shall be treated as a   
charitable contribution of the employee1
  7,,ii7 shall not be taken into account
 under section #agj7;a7 7relating to    
allowance of deduction71 but  7,,iii7   
shall be taken into account under       
section #agj7;b7 7relating to percentage
 limitation74  7,c7 ,additional tax for 
distributions not used for charitable   
purposes ,the tax imposed by this       
chapter for any taxable year on any     
taxpayer from whose flexible giving     
account a distribution is made that is  
includible in gross income shall be     
increased by #bj percent of the amount  
which is so includible4  7,d7           
,identifying information ,no            
distribution shall be excluded from the 
gross income under subparagraph 7,b7    

unless the taxpayer provides on the     
return of tax the name and address of   
the entity to whom the distribution is  
made4 ,in the case of a failure to      
provide the information required by the 
preceding sentence1 the preceding       
sentence shall not apply if it is shown 
that the taxpayer exercised due         
diligence in attempting to provide the  
information so required4  7#d7          
,charitable contribution ,for purposes  
of this section1 the term charitable    
contribution has the meaning given such 
term by section #agj7;c71 except that   
such term irrevocable transfers of funds
 and not just a pledges or agreement to 
make a transfer in the future4  4  7c7  
,effective date ,the amendments made by 
this section shall apply to taxable     
years beginning after the date of the   
enactment of this ,act4