S. 3743 proposes an amendment to the Internal Revenue Code to treat the transfer of appreciated property to certain tax-exempt organizations the same way it treats similar transfers to political organizations. The bill changes the language of section 84 to replace “political...
Simple Explanation
Some people want to give valuable things like art or stock to certain groups that don't pay taxes, and this bill says these gifts should be treated just like when people give them to political groups. It tries to make the rules clearer so everyone knows how this works and who the rules apply to.