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H. Rept. 114-20 1 (2015-02-09)

handle is hein.congrecreports/crptxsxg0001 and id is 1 raw text is: AUTHENTICATEO U.S. GOVERNMENT INFORMATION Gp 114TH CONGRESS 11REPT. 114 20 1st Session HOUSE OF REPRESENTATIVES Part 1 PERMANENT IRA CHARITABLE CONTRIBUTION ACT OF 2015 FEBRUARY 9, 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 together with DISSENTING VIEWS [To accompany H.R. 637] [Including cost estimate of the Congressional Budget Office] The Committee on Ways and Means, to whom was referred the bill (H.R. 637) to amend the Internal Revenue Code of 1986 to make permanent the rule allowing certain tax-free distributions from individual retirement accounts for charitable purposes, 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. Tax-Free Distributions from Individual Retirement Plans for Charitable Purposes (sec. 408(d)(8) of the Code) ......................... 3 III. VOTES OF THE COMM ITTEE .................................................................... 7 IV. BUDGET EFFECTS OF THE BILL ........................................................... 8 A. Committee Estimate of Budgetary Effects ...................................... 8 B. Statement Regarding New Budget Authority and Tax Expendi- tures Budget Authority .................................................................. 8 C. Cost Estimate Prepared by the Congressional Budget Office ....... 8 V. OTHER MATTERS TO BE DISCUSSED UNDER THE RULES OF TH E H O U SE .............................................................................................. 11 A. Committee Oversight Findings and Recommendations ................. 11 49-006

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