Exempt Organizations Advisory - House and Senate Name Conferees for Tax Reconciliation Bill Conference

On February 14, the Senate named its conferees to the $70 billion "Tax Relief Extension Reconciliation Act of 2005," H.R. 4297. The Senate’s conferees are: Senate Finance Committee Chairman Charles Grassley (R-IA); ranking Minority Member Max Baucus (D-MT); and Senate Republican Policy Committee Chair Jon Kyl (AZ).

The House named three Republicans and two Democrats as conferees on February 8. Republican conferees are: Ways and Means Committee Chairman William Thomas (R-CA); Ways and Means Social Security Subcommittee Chairman Jim McCrery (R-LA); and Ways and Means Select Revenue Measures Subcommittee Chairman Dave Camp (R-MI). Democratic conferees are Ways and Means ranking minority member Charles Rangel (D-NY) and Ways and Means member Pete Stark (D-CA).

The Senate version of the bill includes several charitable giving incentives as well as "charitable reforms." Although the House version of the bill does not include similar provisions, it is likely that some of the Senate’s provisions on charities will be in the final bill.

According to Senator Grassley, the conference is likely to meet for the first time the week of February 27 and expects to complete its work by the start of the next congressional recess in mid-March.  

For more information on this topic, please contact Catherine W. Wilkinson, Suzanne Ross McDowell, or the Steptoe attorney(s) with whom you usually work.

The Exempt Organization Advisory is a general summary of the law and is not intended as specific legal advice for any organization.

Internal Revenue Service - Circular 230 Disclosure: As provided for in Treasury regulations, advice (if any) relating to federal taxes that is contained in this communication (including attachments) is not intended or written to be used, and cannot be used, for the purpose of (1) avoiding penalties under the Internal Revenue Code or (2) promoting, marketing or recommending to another party any plan or arrangement addressed herein.

Questions and comments about the Exempt Organizations Advisory are always welcome and should be sent to bstone@steptoe.com.