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114-hr-4706114th Congress

Interest for Others Act of 2016

Sponsored By: Representative Paulsen, Erik [R-MN-3]

Unknown

Summary

Interest for Others Act of 2016 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. 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.

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & CoSponsors

Sponsor

Paulsen, Erik [R-MN-3]

MN • R

Cosponsors

  • Rep. Kline, John [R-MN-2]

    MN • R

    Sponsored 4/13/2016

  • Rep. Walz, Timothy J. [D-MN-1]

    MN • D

    Sponsored 5/16/2016

  • RICHARD NOLAN

    MN • D

    Sponsored 7/14/2016

  • Rep. Emmer, Tom [R-MN-6]

    MN • R

    Sponsored 9/6/2016

  • COLLIN PETERSON

    MN • D

    Sponsored 9/28/2016

  • Rep. McCollum, Betty [D-MN-4]

    MN • D

    Sponsored 11/14/2016

Roll Call Votes

No roll call votes available for this bill.

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