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H.R. 4017, The Community Action Rebuilding Effort Act of 2007

  • This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.

Comparing original version (created by webmaster) with revision saved on January 11, 2008, 01:37:31 (webmaster):

H.R. 4017 would authorize the Secretary of the Treasury to provide that, in the case of leave-based donation programs with respect to the California wildfires, cash payments made by employers to qualifying charities in exchange for forgone employee leave will not be treated as income to participating employees and will be deductible by the employers as business expenses or charitable contributions.

== Detailed Summary ==

<summary>
(Log in to editCommunity Action Rebuilding Effort Act of 2007 - Authorizes the wiki and beSecretary of the firstTreasury to provide a detailed summarywith respect to the California wildfires of October 2007 tax treatment of employer leave-based donation programs similar to the bill!)tax treatment provided for such programs after Hurricane Katrina by Internal Revenue Service (IRS) Notice 2005-68 (i.e., cash payments by employers to charitable organizations for disaster relief purposes in exchange for foregone employee leave is not taxed as income to participating employees and is deductible by employers as a necessary business expense.)
</summary>

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== Status of the Legislation ==

<status>
(Log inLatest Major Action: 10/31/2007: Referred to House committee. Status: Referred to edit the wikiHouse Committee on Ways and be the first to update the status of the bill!)Means.
</status>

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== Points in Favor ==

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== Points Against ==

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