“To amend the Internal Revenue Code of 1986 to allow a credit against tax for food donations.”
No CRS summary available for this bill.
This section establishes a new nonrefundable tax credit under new IRC §30E for qualified charitable donations of cash or apparently wholesome food (plus related vehicle delivery costs up to the standard mileage rate under IRC §170(i)) to 501(c)(3) organizations such as food banks or soup kitchens that provide meals to the ill, needy, or infants. The credit amount equals the donation value; the portion attributable to business activities is included in the general business credit under IRC §38(b), while the personal portion is treated as a subpart A credit subject to overall tax liability limits, with excess credits carried forward up to five years on a first-in-first-out basis and no double deduction allowed. The provision applies to taxable years beginning after December 31, 2025.