Interest for Others Act of 2016

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IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

R PaulsenSponsor

6 cosponsors · 4 D, 2 R

0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.

This bill amends the Internal Revenue Code to allow individuals, trusts, or estates to exclude from gross income up to $50 of interest and money market fund dividend income that is contributed to charity using a program adopted by a financial institution or a money market fund.

What it does: CRS summary · Introduced in House · Mar 3, 2016

Interest for Others Act of 2016

Details regarding the payments to charities must be reported to the Internal Revenue Service by any person that: (1) pays certain interest or dividends and has a charitable contribution program, or (2) is an aggregator that receives contributions and makes payments to charities under a program.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: Interest for Others Act of 2016

Latest action (Mar 3, 2016): Referred to the House Committee on Ways and Means.

Policy area: Taxation · Origin: House · Introduced: Mar 3, 2016

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.