A bill to amend the Internal Revenue Code of 1986 to reform the rules relating to fractional charitable donations of tangible personal property.

Read twice and referred to the Committee on Finance.

Congressional Research Service

Official summary

Version 00 · Introduced in Senate · May 10, 2011

Amends Internal Revenue Code provisions relating to the tax deduction for donations of fractional interests in tangible personal property to: (1) permit donors to claim an increased deduction based upon the market value of subsequent gifts of fractional interests, (2) extend to 20 years the period in which donors of fractional interests must contribute their entire interest in donated property, and (3) require donors of fractional interests greater than $1 million to attach a statement of value obtained from the Internal Revenue Service (IRS) to their tax returns.

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People & committees

Who introduced it

Sen. Schumer, Charles E. [D-NY] · D–NY

Committees

Finance Committee

5 cosponsorship records, including any withdrawals

Legislative record

Actions

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May 10, 2011
Read twice and referred to the Committee on Finance.
May 10, 2011
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 · May 10, 2011 Formatted Text PDF Formatted XML

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: Feb 24, 2019. Consult Congress.gov for the current record.

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Neutral evidence review

Objective

Analyze S.931 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.931, 112th Congress: A bill to amend the Internal Revenue Code of 1986 to reform the rules relating to fractional charitable donations of tangible personal property.

Official record: https://www.congress.gov/bill/112th-congress/senate-bill/931

Text version to examine: Introduced in Senate · 2011-05-10.

Official full text: https://www.congress.gov/112/bills/s931/BILLS-112s931is.htm

Imported record last updated by the source: 2019-02-24T02:24:00Z. 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.931 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.931 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.

View full prompt & sources

Discuss S.931, 112th Congress: A bill to amend the Internal Revenue Code of 1986 to reform the rules relating to fractional charitable donations of tangible personal property.

Official record: https://www.congress.gov/bill/112th-congress/senate-bill/931

Text version to examine: Introduced in Senate · 2011-05-10.

Official full text: https://www.congress.gov/112/bills/s931/BILLS-112s931is.htm

Imported record last updated by the source: 2019-02-24T02:24:00Z. 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.931 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.931 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.

View full prompt & sources

Discuss S.931, 112th Congress: A bill to amend the Internal Revenue Code of 1986 to reform the rules relating to fractional charitable donations of tangible personal property.

Official record: https://www.congress.gov/bill/112th-congress/senate-bill/931

Text version to examine: Introduced in Senate · 2011-05-10.

Official full text: https://www.congress.gov/112/bills/s931/BILLS-112s931is.htm

Imported record last updated by the source: 2019-02-24T02:24:00Z. 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.931 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.931 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.931, 112th Congress: A bill to amend the Internal Revenue Code of 1986 to reform the rules relating to fractional charitable donations of tangible personal property.

Official record: https://www.congress.gov/bill/112th-congress/senate-bill/931

Text version to examine: Introduced in Senate · 2011-05-10.

Official full text: https://www.congress.gov/112/bills/s931/BILLS-112s931is.htm

Imported record last updated by the source: 2019-02-24T02:24:00Z. 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.931 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.