Savings Opportunity and Charitable Giving Act of 2001

Sponsor introductory remarks on measure. (CR S5533-5535)

Congressional Research Service

Official summary

Version 00 · Introduced in Senate · Mar 21, 2001

The Savings Opportunity and Charitable Giving Act of 2001 - Amends the Internal Revenue Code to permit any qualified financial institution, qualified nonprofit organization, or Indian tribe to establish one or more qualified individual development account programs. Defines such an account as an account established for an eligible individual as part of a qualified individual development account program. Sets forth provisions concerning such accounts, including: (1) the structure and administration of account programs; (2) procedures for opening and maintaining an account and qualifying for matching funds; (3) withdrawal procedures; and (4) disregarding account funds for purposes of certain means-tested Federal programs.Permits non-itemizers to deduct a portion of their charitable contributions.Prohibits, in general, including in gross income distributions from individual retirement accounts for charitable purposes.Sets forth a rule for determining the amount of the deduction allowable for a charitable contribution of food inventory.

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People & committees

Who introduced it

Sen. Santorum, Rick [R-PA] · R–PA

Committees

Finance Committee

17 cosponsorship records, including any withdrawals

Legislative record

Actions

A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.

May 23, 2001
Sponsor introductory remarks on measure. (CR S5533-5535)
Mar 21, 2001
Read twice and referred to the Committee on Finance.
Mar 21, 2001
Sponsor introductory remarks on measure. (CR S2672-2674)
Mar 21, 2001
Introduced in Senate

Primary sources

Bill text & related measures

Text links open the official source. We currently store references to these documents.

Introduced in Senate · Mar 21, 2001 Formatted Text PDF

Related bills identified by Congress.gov

No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.

Source last updated: Aug 19, 2025. Consult Congress.gov for the current record.

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Objective

Analyze S.592 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

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Discuss S.592, 107th Congress: Savings Opportunity and Charitable Giving Act of 2001

Official record: https://www.congress.gov/bill/107th-congress/senate-bill/592

Text version to examine: Introduced in Senate · 2001-03-21.

Official full text: https://www.congress.gov/107/bills/s592/BILLS-107s592is.htm

Imported record last updated by the source: 2025-08-19T17:31:10Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Analyze S.592 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

Fairness and public impact

Progressive lens

Examine S.592 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

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Discuss S.592, 107th Congress: Savings Opportunity and Charitable Giving Act of 2001

Official record: https://www.congress.gov/bill/107th-congress/senate-bill/592

Text version to examine: Introduced in Senate · 2001-03-21.

Official full text: https://www.congress.gov/107/bills/s592/BILLS-107s592is.htm

Imported record last updated by the source: 2025-08-19T17:31:10Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.592 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

Institutions and government scope

Conservative lens

Examine S.592 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

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Discuss S.592, 107th Congress: Savings Opportunity and Charitable Giving Act of 2001

Official record: https://www.congress.gov/bill/107th-congress/senate-bill/592

Text version to examine: Introduced in Senate · 2001-03-21.

Official full text: https://www.congress.gov/107/bills/s592/BILLS-107s592is.htm

Imported record last updated by the source: 2025-08-19T17:31:10Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.592 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

Individual rights and government power

Liberty lens

Examine S.592 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.

View full prompt & sources

Discuss S.592, 107th Congress: Savings Opportunity and Charitable Giving Act of 2001

Official record: https://www.congress.gov/bill/107th-congress/senate-bill/592

Text version to examine: Introduced in Senate · 2001-03-21.

Official full text: https://www.congress.gov/107/bills/s592/BILLS-107s592is.htm

Imported record last updated by the source: 2025-08-19T17:31:10Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.592 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.