H.R. 1337: Legacy IRA Act

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H.R. 1337: Legacy IRA Act

115th Congress · introduced 2017-03-02 · Taxation · Latest: Referred to the House Committee on Ways and Means.

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Official title

Legacy IRA Act

Plain summary

Legacy IRA Act This bill amends the Internal Revenue Code to expand the tax exclusion for distributions from individual retirement accounts (IRAs) for charitable purposes. The bill increases from $100,000 to $400,000 the annual limit on the aggregate amount of distributions for charitable purposes that may be excluded from the gross income of a taxpayer. The bill permits tax-free distributions from IRAs to a split-interest entity until December 31, 2021. A split-interest entity is exclusively funded by charitable distributions and includes: a charitable remainder annuity trust, a charitable remainder unitrust, or a charitable gift annuity. A charitable gift annuity must commence fixed payments of at least 5% no later than one year from the date of funding. A distribution to a split-interest entity may only be treated as a qualified charitable distribution if: (1) no person holds an income interest in the entity other than the individual for whose benefit the account is maintained, the spouse of such individual, or both; and (2) the income interest in the entity is nonassignable. The bill limits the exclusion annually to: $100,000 for distributions to charitable organizations, and $400,000 for distributions to split-interest entities. Tax-free distributions to a split-interest entity may be made when the account beneficiary attains age 65. (Under current law, the beneficiary must attain the age of 70-1/2 for IRA distributions to a charitable organization.)

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

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PSI Sci description of the legislative step (not an opinion).

The strongest published arguments

Alternatives

Needs sources: no published alternatives yet (for example a different bill, a law instead of an amendment, or keeping current law). We only show items backed by a published source. Suggest one.

How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Cramer, Kevin [R-ND-At Large] · 15 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Mike Kelly (R-PA), David Schweikert (R-AZ), Pete Sessions (R-TX), Tom Cole (R-OK), Elise M. Stefanik (R-NY)

Sponsor's campaign money: Rep. Cramer, Kevin [R-ND-At Large] reported raising $1.3 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Sources

• Congressional Research Service summary (Introduced in House)
• Congress.gov
• Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-115hr1337.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/115/hr>

Record fed-us-cong115-hr1337 · catalog fed-us-congress-bills-cong115 · updated 2026-11-15 by psicol fed-bills-cong115