Senate Leaders Completing Charitable IRA Rollover Provision

September 2008

Key Senate leaders were working in mid-September to reach a bipartisan agreement on how the Senate might address charitable IRA rollover tax incentives that expired in 2007.

The package extends the charitable IRA rollover through 2009. It was included in the Pension Protection Act of 2006 (PPA) and allowed taxpayers to make tax-free contributions from their IRA plans to qualified charitable organizations.

It expired on December 31, 2007. The proposal would extend the provision through 2009 and be effective for distributions made after December 31, 2007. The estimated cost of the proposal is $795 million over 10 years.