Senators Kevin Cramer (R-ND) and Debbie Stabenow (D-MI) recently introduced the Legacy IRA Act of 2019 (S. 1257).

Currently, taxpayers age 70½ or older can make up to $100,000 annual tax-free contribution from their IRA to eligible charities, including colleges, universities and independent schools.

If enacted, S. 1257 would allow individuals to make up to $400,000 of tax-free distributions annually from their individual retirement accounts (IRAs) to split-interest entities (charitable gift annuities, charitable remainder trusts) beginning at age 65. Both Senators Cramer and Stabenow have been champions of expanding the IRA charitable rollover In 2017, Senator Cramer introduced a nearly identical version of this bill when he was in the House of Representatives (H.R. 1337-115th).

CASE strongly supports S. 1257 and will continue working with a coalition of charitable organizations to build support for the bill. Read Sen. Cramer's press release, which includes a quote from Sue Cunningham and find out more about the policy here.