# 116-hr-8817: Preserving Charitable Incentives Act

116-hr-8817, Preserving Charitable Incentives Act, is a 116th Congress bill sponsored by Rep. Panetta, Jimmy [D-CA-19] (D-CA); status Referred to the House Committee on Ways and Means. (as of 2025-11-18).

- Canonical: https://policyrisk.com/legislation/116-hr-8817
- As of: 2025-11-18
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 116-hr-8817
- Congress: 116
- Title: Preserving Charitable Incentives Act
- Status: Referred to the House Committee on Ways and Means.
- Introduced: 2020-11-24
- Sponsor: Rep. Panetta, Jimmy [D-CA-19] (D-CA)
- Cosponsors: 2
- Policy area: Taxation
- Touches household money: no
- Last recorded action: 2025-11-18

## Summary

Preserving Charitable Incentives Act This bill increases the cap for corporate charitable tax deductions from 25% to 100% of a corporation's taxable income for taxable years beginning in 2020 and 2021. This increase encourages corporate donors (e.g., restaurants and retailers) to donate excess inventory rather than destroying it. The bill allows a carryover of excess inventory into the succeeding taxable year. The bill also directs the Department of the Treasury to revise regulations with respect to the treatment of inventory as costs of goods sold for purposes of the charitable tax deduction.

## Cosponsors (2)

- Rep. Smith, Adrian [R-NE-3] (R-NE), 2020-11-24T00:00:00.000Z
- Rep. Fitzpatrick, Brian K. [R-PA-1] (R-PA), 2020-12-03T00:00:00.000Z

## Related bills

- 116-hr-8662: Accelerating Access to Critical Therapies for ALS Act
- 116-hr-7947: Supporting Foster Youth and Families through the Pandemic Act
- 116-hr-6829: EMPIL–DOC Act
- 116-hr-5605: United States-Israel PTSD Collaborative Research Act
- 116-hr-4305: PAWS for Veterans Therapy Act
- 116-hr-4104: Negro Leagues Baseball Centennial Commemorative Coin Act

## Sources
- [116-hr-8817 on Congress.gov](https://www.congress.gov/bill/116th-congress/house-bill/8817)

## Related
- [116-hr-8662: Accelerating Access to Critical Therapies for ALS Act](https://policyrisk.com/legislation/116-hr-8662)
- [116-hr-7947: Supporting Foster Youth and Families through the Pandemic Act](https://policyrisk.com/legislation/116-hr-7947)
- [116-hr-6829: EMPIL–DOC Act](https://policyrisk.com/legislation/116-hr-6829)
- [116-hr-5605: United States-Israel PTSD Collaborative Research Act](https://policyrisk.com/legislation/116-hr-5605)
- [116-hr-4305: PAWS for Veterans Therapy Act](https://policyrisk.com/legislation/116-hr-4305)
- [116-hr-4104: Negro Leagues Baseball Centennial Commemorative Coin Act](https://policyrisk.com/legislation/116-hr-4104)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/116-hr-8817 (as of 2025-11-18).