Pension Protection Act of 2006 Includes Numerous Charitable Provisions

On August 3, 2006, the Senate joined the House of Representatives in passing the Pension Protection Act of 2006 (PPA), which includes many provisions intended to stimulate charitable giving and to discourage perceived tax law abuses by exempt organizations and donors. The President is expected to sign the bill into law shortly.

The PPA includes several new incentives for charitable giving, including the long-awaited IRA charitable rollover, and contains a broad range of reforms and other changes that primarily affect Section 501(c)(3) organizations and donors to such organizations.

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