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Tax Treatment of Appreciated Property Transfers to Specified Organizations.

This bill amends the Internal Revenue Code of 1986 to treat transfers of appreciated property to "specified organizations" the same as transfers of appreciated property to political organizations. It expands the definition of a "specified organization" to include entities described in sections 501(c)(4), (5), and (6), such as social welfare organizations and business leagues.
Key points
Amends the code to treat transfers of appreciated property to certain tax-exempt organizations the same as transfers to political organizations.
Defines "specified organization" to include political organizations and those described in section 501(c)(4), (5), or (6).
The amendments apply to transfers made after the date of the enactment of the Act.
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Expired
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Additional Information
Print number: 118_S_3743
Sponsor: Sen. Whitehouse, Sheldon [D-RI]
Process start date: 2024-02-06
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

A bill to amend the Internal Revenue Code of 1986 to treat transfers of appreciated property to certain tax-exempt organizations the same as transfers of appreciated property to political organizations.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_3743.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-02-06.

What are the main provisions?

Key points include:

  • Amends the code to treat transfers of appreciated property to certain tax-exempt organizations the same as transfers to political organizations.
  • Defines "specified organization" to include political organizations and those described in section 501(c)(4), (5), or (6).
  • The amendments apply to transfers made after the date of the enactment of the Act.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Whitehouse, Sheldon [D-RI].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-30.

CATEGORIES

Taxes