From the national Council on Foundations:
On Monday, March 2, 2009 Representatives Earl Pomeroy (D-ND) and Wally Herger (R-CA) introduced the Public Good IRA Rollover Act of 2009 (H.R. 1250) in the House of Representatives. This bill contains the same language as the bill Mr. Pomeroy and Mr. Herger introduced in the previous Congress (H.R.1419). The Council on Foundations strongly supports this legislation. Read the Council’s issue paper on our position.
If enacted, H.R. 1250 would make the charitable rollover incentive permanent and allow taxpayers who make IRA distributions to donor-advised funds, supporting organizations, and private foundations to qualify for the incentive. The bill would also lift the $100,000 cap on distributions and allow planned gifts beginning at age 59-and-a-half.
Urge Your Representative to Co-sponsor H.R. 1250:
It is critical that we communicate to members of Congress that the philanthropic sector supports an IRA charitable rollover that allows distributions to donor-advised funds to qualify for the incentive. Use our Policy Action Center to send a letter to your representative asking him or her to co-sponsor the Public Good IRA Rollover Act of 2009. The more co-sponsors on the bill (particularly co-sponsors from the House Ways and Means Committee), the better the chance that a full IRA charitable rollover will be enacted into law.
MCF supports this effort, which is part of our 2009 Legislative Statement [PDF -- see page 6].
