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Summary of Joint Committee on Taxation's Staff Proposals Relating to Charitable Contributions , Record No.: RS22213, Date: July 29, 2005 1 (July 29, 2005)

handle is hein.tera/crstax0087 and id is 1 raw text is: Order Code RS22213 July 29, 2005 CRS Report for Congress Received through the CRS Web Summary of Joint Committee on Taxation's Staff Proposals Relating to Charitable Contributions Erika Lunder Legislative Attorney American Law Division Summary This report summarizes several proposals by the staff of the Joint Committee on Taxation dealing with charitable contributions that have received significant attention. The proposals would affect the treatment of contributions of conservation and facade easements, clothing and household items, and appreciated property. Legislation that incorporates these proposals has not yet been introduced. This report will be updated. In January 2005, the Joint Committee on Taxation released a report that addresses ways to improve compliance with the tax laws and reform certain tax expenditures.' The report was written at the request of Senators Grassley and Baucus, but the proposals are suggestions by the Joint Committee's staff and were not approved by the Senators or their staffs. Three of the proposals would impose additional limitations on certain types of charitable contributions. No legislation has been introduced that incorporates these proposals. They are discussed below. Conservation Easements One proposal would impose additional limitations on the ability to claim a deduction for charitable contributions that are in the form of conservation easements.' Under current law, donors may claim a deduction for a qualifying charitable contribution of an interest in real property that is exclusively for conservation purposes.3 Conservation purposes are: Options to Improve Tax Compliance and Reform Tax Expenditures, prepared bythe staff of the Joint Committee on Taxation, JCS-02-05 (January 27, 2005). 2 Id. at 277-87. 3 IRC § 170(h). Congressional Research Service oe The Library of Congress

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