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H.R. 3729

BillFederalHouseIn Committee
To amend the Internal Revenue Code of 1986 to permanently extend and expand the charitable deduction for contributions of food inventory.
About This Bill
Committee
Latest Action · December 19, 2011
Referred to the House Committee on Ways and Means.
Congress
112th (2011–2013)
Introduced
December 19, 2011
Cosponsors (9)
6D 3R
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Summary

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Amends the Internal Revenue Code to: (1) make permanent the tax deduction for charitable contributions of food inventory; (2) set forth rules for determining the basis and fair market value of contributed food; and (3) increase from 10% to 15% of taxpayer net income the amount of deductible food inventory contributions which a taxpayer, including a C corporation, may make in any taxable year.

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