H.R. 2491, To amend the Internal Revenue Code of 1986 to treat charitable remainder pet trusts in a manner similar to charitable remainder annuity trusts

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H.R. 2491 would amend the Internal Revenue Code of 1986 to treat charitable remainder pet trusts in a manner similar to charitable remainder annuity trusts.

Detailed Summary

Amends the Internal Revenue Code to provide for the tax treatment of a charitable remainder pet trust as a charitable remainder annuity trust. Defines "charitable remainder pet trust" as a trust which pays a specified annual amount (for a maximum term of 20 years) for the care of domesticated companion animals living at the time of creation of the trust.

Status of the Legislation

Latest Major Action: 5/24/2007: Referred to House committee. Status: Referred to the House Committee on Ways and Means.

Points in Favor

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Points Against

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