H.R. 7093, the "Afterschool ACCESS Act," would allow businesses and property owners to claim charitable tax deductions for donating the use of their property to community learning centers (afterschool and enrichment programs). Specifically, the bill permits deductions for providing real property and related equipment for educational purposes, as well as motor vehicles used to transport children to and from these centers. The deduction would be based on the fair market rental value of the property being donated each year. This change affects property owners and businesses that want to support afterschool programs while receiving a tax benefit, and it benefits community learning centers that currently rely on donations to operate. The bill would take effect for tax years beginning after it becomes law, with no specific funding amount allocated since it works through the tax code.
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