,i  #aag? ,,congress  #a/ ,session  ,h4 
,r4 #dehe  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,july #bj1 #bjba,mr4  
,suozzi 7= himself & ,mr4 ,bu*anan7     
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,ways & ,means  ,a     
,,bill  ,to am5d ! ,int]nal ,rev5ue     
,code ( #aihf to provide = flexible giv+
 acc\nts1 & = o!r purposes4  #a4 ,%ort  
title ,?is ,act may be cit$ z ! ,ev]yday
 ,philan?ropi/ ,act4  #b4 ,flexible giv+
 acc\nts  7a7 ,9 g5]al ,subsection 7a7 (
 section #acb ( ! ,int]nal ,rev5ue ,code
 ( #aihf is am5d$ by /rik+ or at ! end (
 p>agraph 7#g71 by /rik+ ! p]iod at !   
end ( p>agraph 7#h7 & ins]t+ 1 or1 & by 
ins]t+ aft] p>agraph 7#h7 ! foll[+3     
7#i7 flexible giv+ acc\nt4  4  7b7      
,flexible giv+ acc\nt ,section #acb (   
su* ,code is am5d$ by r$esignat+        
subsection 7o7 z subsection 7p7 & by    
ins]t+ aft] subsection 7n7 ! foll[+3    
7o7 ,flexible giv+ acc\nt  7#a7 ,9 g5]al
  7,a7 ,flexible giv+ acc\nt ,= purposes
 ( ?is subsection1 a flexible giv+      

acc\nt is an acc\nt "u an arrangem5t :i*
 is a sep>ate writt5 plan ( an employ] =
 ! exclusive b5efit ( all eligible      
employees "u :i*-- 7i7 an employee may  
elect-- 7,i7 to receive a r$uction 9    
comp5sation & h ! employ] deposit !     
am\nt ( ! r$uction 9 a flexible giv+    
acc\nt ( ! elect+ employee1 &  7,,ii7   
be=e ! r$uction "u subclause 7,i71 to   
designate "o or m eligible entities to  
:i* di/ributions are to be made f !     
acc\nt1  7ii7 ! employ] w n make any    
r$uction "u clause 7i77,i7 unless "o or 
m entities h be5 designat$ "u clause    
7i77,,ii71  7iii7 ! employ]1 z soon aft]
 ! deposit "u clause 7i77,i7 z          
practicable1 makes ! disbursem5ts       
designat$ "u clause 7i71  7iv7 ! employ]
 provides reasonable notification ( !   
availability & t]ms ( ! arrangem5t to   
all eligible employees1  7v7 ! employ]  
ma9ta9s a sep>ate flexible giv+ acc\nt  
on behalf ( ea* employee = :om an       
election is 9 effect clause 7i71 &  7vi7
 ! employ] agrees to furni% to ea*      

p>ticipat+ employee1 on or be=e ,janu>y 
#ca ( ea* ye>1 a writt5 acc\nt+ ( !     
employee's flexible giv+ acc\nt %[+     
deposits & disbursem5ts dur+ ! previ\s  
cal5d> ye>4  7,b7 ,maximum r$uction ,!  
am\nt ( a r$uction "u subp>agraph 7,a7 =
 a taxable ye> %all n exce$ #b1gjj4     
7#b7 ,eligible employee ,= purposes (   
?is subsection-- 7,a7 ,9 g5]al  7i7     
,eligible employee ,! t]m eligible      
employee means1 ) respect to a flexible 
giv+ acc\nt1 any employee :o is n a     
highly comp5sat$ or key employee & :o is
 eligible to p>ticipate 9 ! arrangem5t4 
7ii7 ,highly comp5sat$ employee ,! t]m  
highly comp5sat$ employee has ! mean+   
giv5 su* t]m by section #dad7q74  7iii7 
,key employee ,! t]m key employee has ! 
mean+ giv5 su* t]m by section #daf7;i74 
7,b7 ,c]ta9 employees may be exclud$ ,= 
purposes ( subp>agraph 7,a71 an employ] 
may elect to exclude "u ! arrangem5t    
describ$ 9 p>agraph 7#a7 any employee   
:o-- 7i7 has n atta9$ ! age ( #ba be=e !
 close ( a plan ye> ( ! arrangem5t1     

7ii7 has less ?an #a ye> ( s]vice ) !   
employ] z ( any day dur+ ! plan ye>1 &  
7iii7 is describ$ 9 section             
#daj7;b77#c77;,c7 7relat+ to nonresid5t 
ali5s work+ outside ! ,unit$ ,/ates74   
7,c7 ,%ort] s]vice p]iod2 y\ng] age ,an 
arrangem5t may provide a %ort] p]iod (  
s]vice or y\ng] age = purposes (        
subp>agraph 7,b74  7#c7 ,tax treatm5t ( 
di/ributions  7,a7 ,9 g5]al ,any        
di/ribution f a flexible giv+ acc\nt    
%all n be includible 9 ! gross income ( 
! di/ributee4  7,b7 ,coord9ation )      
section #agj ,di/ributions f ! flexible 
giv+ acc\nt ( an employee-- 7i7 %all be 
treat$ z a *>itable contribution ( !    
employee = purposes ( section #agj1     
7ii7 %all n be tak5 into acc\nt "u      
section #agj7;a7 7relat+ to all[ance (  
d$uction71 b  7iii7 %all be tak5 into   
acc\nt "u section #agj7;b7 7relat+ to   
p]c5tage limitation74  7,c7 ,id5tify+   
in=mation ,no di/ribution %all be       
exclud$ f ! gross income "u subp>agraph 
7,a7 unless ! taxpay] provides on !     

return ( tax ! "n & address ( ! entity  
to :om ! di/ribution is made4 ,9 ! case 
( a failure to provide ! in=mation      
requir$ by ! prec$+ s5t5ce1 ! prec$+    
s5t5ce %all n apply if x is %[n t !     
taxpay] ex]cis$ due dilig5ce 9 attempt+ 
to provide ! in=mation s requir$4  7#d7 
,eligible entity ,= purposes ( ?is      
section1 ! t]m eligible entity means any
 entity describ$ 9 p>agraphs 7#a7 ?r\gh 
7#e7 ( section #agj7;c7 o!r ?an a       
private f\ndation describ$ 9 subsection 
7b77#a77;,f74  4  7c7 ,effective date ,!
 am5dm5ts made by ?is section %all apply
 to taxable ye>s beg9n+ aft] ! date ( ! 
enactm5t ( ?is ,act4