House Bill Would Expand Incentives for Gifts to Donor-Advised Funds

A bipartisan bill introduced Tuesday in the U.S. House of Representatives would expand tax incentives for people who donate to charity from individual retirement accounts to include gifts to donor-advised funds. It comes on the heels of similar legislation introduced in the Senate last week.

IRA donation incentives were made permanent last year but excluded gifts made to donor-advised funds, which are seeing explosive growth.

The Grow Philanthropy Act (H.R. 4907) is sponsored by Republican Reps. George Holding of North Carolina, Erik Paulsen of Minnesota, Pat Tiberi of Ohio, Devin Nunes of California, and Mike Kelly of Pennsylvania and one Democratic Representative, Gene Green, of Texas.