Legislative Status: April 21, 2008

AB 624 Update: AB 624 continues to await consideration before the California State Senate Business, Professions and Economic Development Committee. While the legislation is not expected to receive a formal consideration before June, it is imperative that we continue to voice our collective opposition to this legislation.

We have several tools on our website to assist those interested in writing a letter in opposition to AB 624. There are two pages of talking points, a sample draft letter, as well as several opposition letters from various organizations. All this information and more is available at www.acreform.com.

Update from Capitol Hill: This week, Senate Finance Committee Chairman Max Baucus (D-MT) and Ranking Member Charles Grassley (R-IA) introduced legislation that provides a two-year extension of several expiring tax provisions. While the principal focus of this legislation is the one-year patch of the Alternative Minimum Tax (AMT), the legislation contains several items relating to the charitable community, including:

• an extension of the IRA Charitable Rollover provision through 2009; and
• a two-year extension of a provision that allows C-corporations an enhanced charitable deduction for food bank and book donations.

The Committee is expected to hold hearings on the bill over the next two weeks. For more information on this legislation, click here.

Also, Senator Grassley (R-IA), Ranking Member of the Senate Finance Committee, has recently added Theresa Pattara to his staff as principal tax counsel. In that role she will oversee all issues relating to the charitable community. Previously, Ms. Pattara worked in the IRS's Office of Exempt Organizations. Theresa Pattara had been on Grassley's staff previously, working as Dean Zerbe's deputy during consideration of the the PPA bill. She has returned to the Senate Finance Committee to replace Dean Zerbe who left earlier this year to join the private sector representing small and mid-size businesses before the IRS.

As always, we will continue to monitor the developments in California and at the Federal level. Should you have any questions please contact Chris Fox or Sandra Swirski at 202-466-8700.

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