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Legislative Updates2020A message from Janice Burrill, LACGP Legislative Chair and National Liaison: Hope you and yours are staying safe and healthy during these unprecedented days. As Congress continues to grapple with further coronavirus relief legislation, our LACGP Board and I wanted to forward this Advocacy Update from the National Association of Charitable Gift Planners. Please review and consider contacting your elected officials NOW to support the Universal Giving Pandemic Response Act (which would lift the cap for above-the-line charitable deductions from $300 to $4,000 for individuals and $8,000 for couples) and any other proposed legislation which promotes our philanthropic efforts. Now more than ever, our charitable community needs to be top of mind with our legislators. Bill Hranchak, LACGP Legislative Chair In our ongoing effort to identify opportunities for members of the Los Angeles Council of Charitable Gift Planners to engage around planned giving topics, we wanted to share an upcoming webinar being offered by the National Association of Charitable Gift Planners, the national organization of which LACGP is an affiliated council. CGP Advocacy Update Call On March 25, the Senate approved a $2 trillion aid package (HR 748) to address the economic fallout from the COVID-19 (Coronavirus) pandemic. The bill is expected to pass the House with bipartisan support and President Trump has indicated he will sign the measure into law. While there are numerous provisions in the 880-page bill that will benefit certain members of the nonprofit sector, two sections of the legislation were included to specifically increase charitable giving during these tumultuous times. And, Congress is already beginning to conceptualize a fourth COVID-19 relief package. CGP will continue to work with Congressional leaders and its partners in the nonprofit sector to enact a more expansive above-the-line charitable deduction as well as other important charitable giving incentives as part of any forthcoming legislation. Join us for the latest information on these important legislative efforts and how they may impact charitable giving in the current environment. You can also register by visiting the NACGP site and searching "Advocacy Update" to find this event on their website. Depending on when you register, you will either receive call access instructions 24 hours before the event or 2 hours before the event. Registration for the live event closes at 9 a.m. ET on April 2. After the advocacy update, view your Order Details to access materials from the call. 2016LACGP Legislative Update by Bill Hranchak - April 21, 2016 2015IRA Charitable Rollover – Donor discussions before year end 2015 IRA Charitable Rollover Legislation 2014Senate Approves IRA Charitable Rollover Only for 2014 2013AFR Under Section 7520 for September 2013 News You Can Use Several Outstanding Proposals to Alter the Charitable Deduction President Obama’s 28% Limit: President Obama has proposed limiting the value of charitable and itemized deductions for upper-income taxpayers, capping the deduction at 28%, regardless of whether the individuals are in the 33% or 35% tax brackets. This proposal has also been included in the President’s fiscal year 2014 budget and his other four annual budget proposals, the American Jobs Act, and his deficit reduction plan submitted to the super committee. |