No CRS summary available for this bill.
This section establishes a charitable deduction equal to the fair market rental value for the use of qualified property contributed to a community learning center, exempting such contributions from the general reduction in deduction amount for appreciated property under IRC §170(e)(1) and the disallowance of deductions for partial interests in property under IRC §170(f)(3)(A). Qualified property includes real property (and related tangible personal property) used for the center's educational purposes or any motor vehicle used to transport children to or from the center; a community learning center is a tax-exempt organization under IRC §170(c) operating a 21st Century Community Learning Center (i.e., after-school academic enrichment program for students in high-need communities, as defined in ESEA §4201(b)). The provision applies to taxable years beginning after enactment.