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H. Rept. 114-64 1 (2015-04-13)

handle is hein.congrecreports/crptxrqu0001 and id is 1 raw text is: AUT-ENTICATED US. GOVERNMENT INFORMATION GP 114TH CONGRESS REPORT 1st Session HOUSE OF REPRESENTATIVES 114-64 FAIR TREATMENT FOR ALL GIFTS ACT APRIL 13, 2015.-Committed to the Committee of the Whole House on the State of the Union and ordered to be printed Mr. RYAN of Wisconsin, from the Committee on Ways and Means, submitted the following REPORT [To accompany H.R. 1104] [Including cost estimate of the Congressional Budget Office] The Committee on Ways and Means, to whom was referred the bill (H.R. 1104) to amend the Internal Revenue Code of 1986 to provide a deduction from the gift tax for gifts made to certain ex- empt organizations, having considered the same, report favorably thereon with an amendment and recommend that the bill as amended do pass. CONTENTS Page I. SUMMARY AND BACKGROUND ................................................................. 2 A. Purpose and Sum m ary ......................................................................... 2 B. Background and Need for Legislation ................................................ 2 C. Legislative H istory ............................................................................... 3 II. EXPLANATION OF THE BILL ...................................................................... 3 A. Deduction from Gift Tax for Gifts Made to Certain Exempt Orga- nizations (sec. 2 of the bill and sec. 2522(a) of the Code) .............. 3 III. VOTES OF THE COMM ITTEE ...................................................................... 6 IV. BUDGET EFFECTS OF THE BILL ............................................................. 6 A. Committee Estimate of Budgetary Effects ........................................ 6 B. Statement Regarding New Budget Authority and Tax Expendi- tures Budget Authority ...................................................................... 6 C. Cost Estimate Prepared by the Congressional Budget Office ........... 7 V. OTHER MATTERS TO BE DISCUSSED UNDER THE RULES OF THE H O U SE ........................................................................................................ 7 A. Committee Oversight Findings and Recommendations ................... 7 B. Statement of General Performance Goals and Objectives ............... 8 C. Information Relating to Unfunded Mandates .................................... 8 D. Applicability of House Rule XXI 5(b) ................................................. 8 E. Tax Com plexity Analysis ..................................................................... 8 F. Congressional Earmarks, Limited Tax Benefits, and Limited Tariff B en efits ............................................................................................... 8 49-006

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