The purpose of HR 2592 is to amend the Internal Revenue Code of 1986 to increase the limitation on the amount of charitable contributions of ordinary income property taken into account in determining the charitable contribution deduction for any trade or business.
This way charities will get inventory contributions directly from businesses instead of a secondary organization. This will help non profits save on the "handling" fees for obtaining donated products or property.
Our interest in this bill is being able to obtain at lower cost;
1) Business machinery and office supplies
2) Access equipment from manufacturers and resellers
3) Marketing and outreach materials
4) Restricted educational materials
5) Foreclosed apartment, hotels, and ranch properties
6) Vehicles such as vans, bus, and camper trailers
Please ask your congressperson to reintroduce this bill and cosponsor the bill when it's reintroduced.
Nonprofits will benefit greatly from this bill.
Permitted under the Lobbying Rules for Non-Profits and no expense from OCDAC's fund was used in this posting.