Home > 106th Congressional Bills > H.R. 5440 (ih) To require large employers to notify their employees of the amount paid by the employer for employee health coverage. [Introduced in House] ...
H.R. 5440 (ih) To require large employers to notify their employees of the amount paid by the employer for employee health coverage. [Introduced in House] ...
108th CONGRESS
1st Session
H. R. 543
To amend the Internal Revenue Code of 1986 to provide special rules for
determining the amount allowed as a deduction for a charitable
contribution of apparently wholesome food which is inventory.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
February 5, 2003
Mr. Baker introduced the following bill; which was referred to the
Committee on Ways and Means
_______________________________________________________________________
A BILL
To amend the Internal Revenue Code of 1986 to provide special rules for
determining the amount allowed as a deduction for a charitable
contribution of apparently wholesome food which is inventory.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. CHARITABLE DEDUCTION FOR CONTRIBUTIONS OF FOOD INVENTORIES.
(a) In General.--Subsection (e) of section 170 of the Internal
Revenue Code of 1986 (relating to certain contributions of ordinary
income and capital gain property) is amended by adding at the end the
following new paragraph:
``(7) Application of paragraph (3) to certain contributions
of food inventory.--For purposes of this section--
``(A) Extension to individuals.--In the case of a
charitable contribution of apparently wholesome food--
``(i) paragraph (3)(A) shall be applied
without regard to whether the contribution is
made by a C corporation, and
``(ii) in the case of a taxpayer other than
a C corporation, the aggregate amount of such
contributions from any trade or business (or
interest therein) of the taxpayer for any
taxable year which may be taken into account
under this section shall not exceed 10 percent
of the taxpayer's net income from any such
trade or business, computed without regard to
this section, for such taxable year.
``(B) Limitation on reduction.--In the case of a
charitable contribution of apparently wholesome food,
notwithstanding paragraph (3)(B), the amount of the
reduction determined under paragraph (1)(A) shall not
exceed the amount by which the fair market value of
such property exceeds twice the basis of such property.
``(C) Determination of basis.--If a taxpayer--
``(i) does not account for inventories
under section 471, and
``(ii) is not required to capitalize
indirect costs under section 263A,
the taxpayer may elect, solely for purposes of
paragraph (3)(B), to treat the basis of any apparently
wholesome food as being equal to 25 percent of the fair
market value of such food.
``(D) Determination of fair market value.--In the
case of a charitable contribution of apparently
wholesome food which is a qualified contribution
(within the meaning of paragraph (3), as modified by
subparagraph (A) of this paragraph) and which, solely
by reason of internal standards of the taxpayer or lack
of market, cannot or will not be sold, the fair market
value of such contribution shall be determined--
``(i) without regard to such internal
standards or such lack of market, and
``(ii) by taking into account the price at
which the same or substantially the same food
items (as to both type and quality) are sold by
the taxpayer at the time of the contribution
(or, if not so sold at such time, in the recent
past).
``(E) Apparently wholesome food.--For purposes of
this paragraph, the term `apparently wholesome food'
has the meaning given such term by section 22(b)(2) of
the Bill Emerson Good Samaritan Food Donation Act (42
U.S.C. 1791(b)(2)), as in effect on the date of the
enactment of this paragraph.''.
(b) Effective Date.--The amendment made by this section shall apply
to contributions made after the date of the enactment of this Act.
<all>
Other Popular 106th Congressional Bills Documents:
| 1 |
S. 453 (es) To designate the Federal building located at 709 West 9th Street in Juneau, Alaska, as the ``Hurff A. Saunders Federal Building''. [Engrossed in Senate] ... |
|
| 2 |
H.R. 4576 (pcs) Making appropriations for the Department of Defense for the fiscal year ending September 30, 2001, and for other purposes. [Placed on Calendar Senate] ... |
| 3 |
S. 3131 (is) To amend title XVIII of the Social Security Act to ensure that the [Introduced in Senate] ... |
| 4 |
S. 15 (is) To amend the Internal Revenue Code of 1986 to provide that married couples may file a combined return under which each spouse is taxed using the rates applicable to unmarried individuals. [Introduced in Senate] ... |
| 5 |
H.Con.Res. 338 (ih) Expressing the sense of the Congress regarding the link between [Introduced in House] ... |
| 6 |
S. 108 (is) To modify, and to deauthorize certain portions of, the project for navigation at Wells Harbor, Maine. [Introduced in Senate] ... |
| 7 |
S. 1402 (rfh) To amend title 38, United States Code, to enhance programs providing education benefits for veterans, and for other purposes. [Referred in House] ... |
| 8 |
H.Con.Res. 245 (ath) To correct technical errors in the enrollment of the bill H.R. 764. [Agreed to House] ... |
| 9 |
S. 2130 (is) To suspend temporarily the duty on HIV/AIDS drugs. [Introduced in Senate] ... |
| 10 |
H.R. 3576 (ih) To amend title XVIII of the Social Security Act to revise the update factor used in making payments to PPS hospitals under the medicare program. [Introduced in House] ... |
| 11 |
S.Res. 145 (rs) Authorizing expenditures by the Committee on Commerce, Science, and Transportation. [Reported in Senate] ... |
| 12 |
H.R. 4226 (eh) To authorize the Secretary of Agriculture to sell or exchange all or [Engrossed in House] ... |
| 13 |
H.R. 3457 (ih) To amend the Controlled Substances Act to direct the emergency scheduling of gamma hydroxybutyric acid, to provide for a national awareness campaign, and for other purposes. [Introduced in House] ... |
| 14 |
H.Res. 542 (eh) [Engrossed in House] ... |
| 15 |
H.R. 3700 (ih) To amend the Internal Revenue Code of 1986 to allow a credit to holders of qualified bonds issued by an intercity passenger rail carrier, and for other purposes. [Introduced in House] ... |
| 16 |
H.R. 4010 (ih) To reauthorize and amend the National Fish and Wildlife Foundation Establishment Act. [Introduced in House] ... |
| 17 |
H.Res. 148 (ih) Expressing the sense of the House of Representatives with respect to the tragic shooting at Columbine High School in Littleton, Colorado. [Introduced in House] ... |
| 18 |
H.R. 2056 (ih) To establish United States Government policy regarding the necessity of requiring the full withdrawal of all Syrian military, security, intelligence and proxy forces from Lebanon and the restoration of Lebanon's independence. [Introduced in... |
| 19 |
H.R. 3909 (enr) To designate the facility of the United States Postal Service located at 4601 South Cottage Grove Avenue in Chicago, Illinois, as the ``Henry W. McGee Post Office Building''. [Enrolled bill] ... |
| 20 |
S. 734 (is) Entitled ``National Discovery Trails Act of 1999''. [Introduced in Senate] ... |
| 21 |
H.R. 4787 (ih) (Original Signature of Member) [Introduced in House] ... |
| 22 |
H.Con.Res. 181 (ih) Expressing the sense of the Congress with respect to war crimes against United States military personnel and their families, and in particular to the war crimes committed in El Salvador against United States Army pilots David H. Picket... |
| 23 |
S. 2474 (is) To amend title 10, United States Code, to improve the achievement of cost-effectiveness results from the decisionmaking on selections between public workforces and private workforces for the performance of a Department of Defense function. [I... |
| 24 |
H.R. 4555 (ih) To provide for a 6-year demonstration project to stabilize coverage and benefits under the Medicare+Choice Program. [Introduced in House] ... |
| 25 |
S. 1967 (enr) To make technical corrections to the status of certain land held in trust for the Mississippi Band of Choctaw Indians, to take certain land into trust for that Band, and for other purposes. [Enrolled bill] ... |
| 26 |
H.Res. 189 (rh) Providing for consideration of the bill (H.R. 150) to amend the Act [Reported in House] ... |
| 27 |
H.R. 1461 (ih) To amend title 18, United States Code, to exempt qualified law enforcement officers from State laws prohibiting the carrying of concealed firearms. [Introduced in House] ... |
| 28 |
H.R. 2490 (rh) Making appropriations for the Treasury Department, the United States Postal Service, the Executive Office of the President, and certain Independent Agencies, for the fiscal year ending September 30, 2000, and for other purposes. [Reported i... |
| 29 |
S. 1637 (is) To extend through the end of the current fiscal year certain expiring Federal Aviation Administration authorizations. [Introduced in Senate] ... |
| 30 |
S. 133 (is) For the relief of Benjamin M. Banfro. [Introduced in Senate] ... |
Other Documents:
106th Congressional Bills Records and Documents
| GovRecords.org presents information on various agencies of the United States Government. Even though all information is believed to be credible and accurate, no guarantees are made on the complete accuracy of our government records archive. Care should be taken to verify the information presented by responsible parties. Please see our reference page for congressional, presidential, and judicial branch contact information. GovRecords.org values visitor privacy. Please see the privacy page for more information. |
|