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Senate Bill 2123
115th Congress(2017-2018)
Universal Charitable Giving Act of 2017
Introduced
Introduced
Introduced in Senate on Nov 14, 2017
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Text
Introduced in Senate 
Nov 14, 2017
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Introduced in Senate(Nov 14, 2017)
Nov 14, 2017
Not Scanned for Linkage
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Multiple bills can contain the same text. This could be an identical bill in the opposite chamber or a smaller bill with a section embedded in a larger bill.
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Bill Sponsor is currently only finding exact word-for-word section matches. In a future release, partial matches will be included.
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S. 2123 (Introduced-in-Senate)


115th CONGRESS
1st Session
S. 2123


To amend the Internal Revenue Code of 1986 to allow above-the-line deductions for charitable contributions for individuals not itemizing deductions.

IN THE SENATE OF THE UNITED STATES

November 14, 2017

Mr. Lankford introduced the following bill; which was read twice and referred to the Committee on Finance

A BILL

To amend the Internal Revenue Code of 1986 to allow above-the-line deductions for charitable contributions for individuals not itemizing deductions.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Universal Charitable Giving Act of 2017”.

SEC. 2. Allowing above-the-line deductions for charitable contributions for individuals not itemizing deductions.

(a) In general.—Subsection (a) of section 62 of the Internal Revenue Code of 1986 is amended by inserting after paragraph (21) the following new paragraph:

“(22) CHARITABLE CONTRIBUTIONS FOR INDIVIDUALS NOT ITEMIZING DEDUCTIONS.—In the case of an individual who does not elect to itemize his deductions for the taxable year, the deduction allowed by section 170. The preceding sentence shall not apply to any deduction in excess of an amount equal to the product of 1⁄3 and the standard deduction for such individual.”.

(b) Effective date.—The amendment made by this section shall apply with respect to taxable years beginning after the date of enactment of this Act.