To amend the Internal Revenue Code of 1986 to treat charitable remainder pet trusts in a manner similar to charitable remainder annuity trusts.
Last action on May 25, 2007Sponsor introductory remarks on measure. (CR E1147-1148)
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Summary
Amends the Internal Revenue Code to provide for the tax treatment of a charitable remainder pet trust as a charitable remainder annuity trust. Defines "charitable remainder pet trust" as a trust which pays a specified annual amount (for a maximum term of 20 years) for the care of domesticated companion animals living at the time of creation of the trust.
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