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A bill to amend the Internal Revenue Code of 1986 to exclude from gross income charitable distributions from certain employer-sponsored retirement plans, and for other purposes.
To amend the Internal Revenue Code of 1986 to exclude from gross income charitable distributions from certain employer-sponsored retirement plans, and for other purposes.
Summary
This bill amends the tax code to allow qualified charitable distributions from employer-sponsored retirement plans without including them in gross income. Individuals age 70½ or older can make direct charitable donations from these plans to qualified charitable organizations, up to an annual limit, and exclude the distributions from taxable income. The provision applies to 401(k) plans, 403(b) plans, 457(b) plans, SEPs, and SIMPLEs, and is effective for distributions made after the bill's enactment.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Sen. Cramer, Kevin [R-ND] (R-ND)
3 cosponsors
Actions (2)
- May 13, 2026 Read twice and referred to the Committee on Finance. · senate
- May 13, 2026 Introduced in Senate
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Full text
IN THE SENATE OF THE UNITED STATES
May 13, 2026
Mr. Cramer (for himself, Mr. Coons, Mr. Marshall, and Mr. Warner) introduced the following bill; which was read twice and referred to the Committee on Finance
A BILL
To amend the Internal Revenue Code of 1986 to exclude from gross income charitable distributions from certain employer-sponsored retirement plans, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. EXCLUSION FROM GROSS INCOME OF CHARITABLE DISTRIBUTIONS FROM CERTAIN EMPLOYER-SPONSORED RETIREMENT PLANS.
(a) In General.—Section 402 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection:
“(m) Distributions for Charitable Purposes.—
“(1) In general.—Gross income for any taxable year shall not include so much of the aggregate amount of qualified charitable distributions made with respect to a taxpayer during such taxable year which does not exceed the applicable amount.
“(2) Qualified charitable distribution.—For purposes of this subsection, the term ‘qualified charitable distribution’ means any distribution from a qualified employer plan—
“(A) which is made directly by the plan to an organization described in section 170(b)(1)(A) (other than any organization described in section 509(a)(3) or any fund or account described in section 4966(d)(2)), and
“(B) which is made on or after the date that the individual on whose behalf the distribution is made has attained age 70\1/2\. A distribution shall be treated as a qualified charitable distribution only to the extent that the distribution would be includible in gross income without regard to paragraph (1).
“(3) Special rules.—
“(A) In general.—Rules similar to the rules of subparagraphs (C), (E), and (F) of section 408(d)(8) shall apply for purposes of this subsection.
“(B) Application of section 72.—Rules similar to the rules of section 408(d)(8)(D) shall apply for purposes of this subsection, by taking into account all amounts to which the taxpayer has a nonforfeitable right in all qualified employer plans maintained by the employer in lieu of all amounts in all individual retirement plans of the individual.
“(4) Definitions.—For purposes of this subsection—
“(A) Applicable amount.—The term ‘applicable amount’ means the excess of—
“(i) the dollar amount in effect under section 408(d)(8) for the taxable year, over
“(ii) the total amount of distributions not includible in the gross income of the taxpayer for the taxable year by reason of section 408(d)(8).
“(B) Qualified employer plan.—The term ‘qualified employer plan’ means—
“(i) an eligible retirement plan described in clause (iii) or (vi) of subsection
(c)(8)(B), or
“(ii) a plan established for its employees by the United States, by a State or political subdivision thereof, or by an agency or instrumentality of any of the foregoing.”.
(b) SEPs and SIMPLEs.—Section 408(d)(8)(B) of such Code is amended by striking “(other than a plan described in subsection (k) or (p))”.
(c) 403(b) Plans.—Section 403 of such Code is amended by adding at the end the following new subsection:
“(d) Distributions for Charitable Purposes.—The rules of section 402(m) shall apply to distributions under an annuity contract described in subsection (b).”.
(d) 457(b) Plans.—Section 457(e) of such Code is amended by adding at the end the following new paragraph:
“(19) Distributions for charitable purposes.—The rules of section 402(m) shall apply to distributions under an eligible deferred compensation plan established and maintained by an eligible employer described in subsection (e)(1)(A).”.
(e) Effective Date.—The amendments made by this section shall apply to distributions made in taxable years beginning after the date of the enactment of this Act. <all>
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