Two new bills that would increase the mileage rate for charitable purposes have been introduced, bringing the total to four now under consideration by Congress.
Full Text:S. 3421, introduced by Sen. Robert Casey, Jr. [D-PA] on August 1, 2008 and referred to the Senate Finance Committee, would increase the standard mileage rate to the same rate for business purposes.
S. 3429, the Giving Incentives to Volunteers Everywhere (GIVE) Act of 2008, introduced by Senate Finance Committee member Charles E. Schumer [D-N.Y.] on August 1, 2008 and also referred to the Senate Finance Committee, would increase the standard mileage rate for charitable deductions to 70 percent of the standard business mileage rate.
H.R. 6675, introduced by Rep. Robert E. Latta, [R-OH]
on June 30, 2008 and currently referred to the House Committee on Ways and Means, would increase the standard deductible mileage rate for people delivering meals to elderly, disabled, and at-risk individuals to 58.5 cents per mile.
H. R. 6283, the Reimbursing Our American Drivers (ROAD) Act of 2008, introduced by Rep. John Lewis [D-GA] on June 17, 2008, and also currently referred to Ways and Means, would increase from 14 to 40 cents per mile the standard mileage rate for purposes of computing the tax deduction for the use of a passenger automobile for charitable purposes.
Full Text of S. 3421:
110TH CONGRESS
2D SESSION
S. 3421
To amend the Internal Revenue Code of 1986 to increase the standard
mileage rate for charitable purposes to the standard mileage rate
established by the Secretary of the Treasury for business purposes.
IN THE SENATE OF THE UNITED STATES
AUGUST 1, 2008
Mr. CASEY introduced the following bill; which was read twice and referred to the Committee on Finance.
A BILL
To amend the Internal Revenue Code of 1986 to increase the standard mileage rate for charitable purposes to the standard mileage rate established by the Secretary of the Treasury for business purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. STANDARD MILEAGE RATE FOR CHARITABLE PURPOSES SAME AS FOR BUSINESS PURPOSES.
(a) IN GENERAL. -- Subsection (i) of section 170 of the Internal Revenue Code of 1986 (relating to standard mileage rate for use of passenger automobile) is amended by striking "14 cents per mile" and inserting "the standard mileage rate for business purposes prescribed by the Secretary for purposes of this chapter which is in effect on the date of the contribution".
(b) EFFECTIVE DATE. -- The amendment made by subsection (a) shall apply to taxable years beginning after December 31, 2007.
Full Text of S. 3429:
110TH CONGRESS
2D SESSION
S. 3429
To amend the Internal Revenue Code to provide for an increased
mileage rate for charitable deductions.
IN THE SENATE OF THE UNITED STATES
August 1, 2008
Mr. SCHUMER (for himself, Mr. ENSIGN, Mr. FEINGOLD, and Mr. DODD)
introduced the following bill; which was read twice and referred to
the Committee on Finance
A BILL
To amend the Internal Revenue Code to provide for an increased mileage rate for charitable deductions.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the "Giving Incentives to Volunteers Everywhere Act of 2008" or the "GIVE Act of 2008".
SEC. 2. DETERMINATION OF STANDARD MILEAGE RATE FOR CHARITABLE CONTRIBUTIONS DEDUCTION.
(a) In General. -- Subsection (i) of section 170 of the Internal Revenue Code of 1986 (relating to standard mileage rate for use of passenger automobile) is amended by striking "14 cents per mile" and inserting "the amount that is 70 percent of the standard business mileage rate in effect under section 162(a) for the taxable year".
(b) Effective Date. -- The amendment made by this section shall apply to miles traveled after the date of the enactment of this Act.
SEC. 3. MILEAGE REIMBURSEMENTS TO CHARITABLE VOLUNTEERS EXCLUDED FROM GROSS INCOME.
(a) In General. -- Part III of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 139B the following new section:
"SEC. 139C. MILEAGE REIMBURSEMENTS TO CHARITABLE VOLUNTEERS.
"(a) In General. -- Gross income of an individual does not include amounts received, from an organization described in section 170(c), as reimbursement of operating expenses with respect to use of a passenger automobile for the benefit of such organization. The preceding sentence shall apply only to the extent that such reimbursement would be deductible under this chapter if section 274(d) were applied --
"(1) by using the standard business mileage rate established under section 162(a), and
"(2) as if the individual were an employee of an organization not described in section 170(c).
"(b) No Double Benefit. -- Subsection (a) shall not apply with respect to any expenses if the individual claims a deduction or credit for such expenses under any other provision of this title.
"(c) Exemption From Reporting Requirements. -- Section 6041 shall not apply with respect to reimbursements excluded from income under subsection (a).".
(b) Clerical Amendment. -- The table of sections for part III of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after the item relating to section 139B the following new item:
"Sec. 139C. Reimbursement for use of passenger automobile for charity.".
(c) Effective Date. -- The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.
