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1. Charitable Mileage - The rate for charitable mileage would change from the flat $0.14 per mile to the rate for medical and moving travel ($0.17 per mile in 2017).Editor's Note: Community foundations have been supporting the expansion of the IRA rollover to permit gifts to DAFs. This change would accelerate the current rapid growth of DAFs.
2. Form 990 - All nonprofits that file any version of IRS Form 990 would be required to use electronic filing.
3. IRAs to Donor Advised Funds (DAFs) - IRA owners over age 70½ may transfer up to $100,000 per year in a qualified charitable distribution to a nonprofit. The CHARITY Act would permit this transfer to fund a DAF. There would be specific new charity disclosure requirements. The charity would be required to disclose the number of DAFs that have been in existence for 36 months, the grants from these DAFs and the policies to monitor and handle inactive DAFs.
4. Private Foundation Excise Tax - The existing and complicated 2% and 1% tax system would be simplified to a flat 1% excise tax on private foundation income.
5. Philanthropic Enterprise - A new exemption would be created for the excess business holding rules. This exemption would allow private foundations (PFs) to create 100%-owned Philanthropic Enterprises (PEs). All profits over reasonable business reinvestment amounts must be distributed by the PE to the PF. The PE must be operated independently from the PF.