S.403: A bill to amend the Internal Revenue Code of 1986 to provide that reimbursements for costs of using passenger automobiles for charitable and other organizations are excluded from gross income, and for other purposes.

About This Bill

Bill Summary

Amends the Internal Revenue Code to provide that volunteers who use their automobiles for the benefit of a charitable organization may exclude from their gross income reimbursements for their automobile operating expenses at the same level as business employees (i.e., 48.5 cents per mile in 2007). Increases criminal sanctions and monetary penalties for: (1) underpayments or overpayments of tax due to fraud; (2) attempts to evade or defeat tax;...

(Source: Library of Congress)

Bill Actions

Date Description
Sponsor introductory remarks on measure.
Read twice and referred to the Committee on Finance.
Jan. 26, 2007

Introduced in the Senate by Russ Feingold (D-Wis.)

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