Donor-advised funds (or DAFs) have existed for almost a century, but Congress didn’t get around to defining them for purposes of federal law until 2006. And then, the IRS didn’t bother proposing regulations under that 2006 statute until late 2023. As a result, sponsoring organizations—the public charities that host donor-advised funds—have largely had to figure …
Earlier this year, HB 2208 was introduced in the Kansas Legislature. The bill, requested by a lobbyist for the Kansas Association of Community Foundations, would enact a tax credit for contributions to certain types of endowments held at Kansas community foundations. That idea is not new. Currently, seven states offer a similar tax credit, with …
The Kansas House of Representatives Committee on Taxation is currently considering HB 2208, the Endow Kansas Tax Credit Act. Previous posts offered an overview of the bill’s provisions and criticisms of its text. But the text of HB 2208 isn’t the only part of the bill that merits criticism. As introduced, the bill suffers from …
HB 2208, the Endow Kansas Tax Credit Act, is a bill currently being considered by the Kansas House of Representatives Committee on Taxation. The bill would establish a new 70% tax credit for qualifying gifts to qualifying endowment funds at qualifying community foundations. You can learn more about the bill and the credit it would …
Earlier this month, HB 2208 was introduced in the Kansas House of Representatives and referred to the Committee on Taxation. Known as the Endow Kansas Tax Credit Act, HB 2208 would create a new 70% tax credit for qualifying contributions to qualifying endowment funds at qualifying community foundations. This post provides an overview of how …