Charity-Related Provisions of the Pension Protection Act of 2006: Significant New Rules and Restrictions
September 11, 2006
On August 17, 2006, President Bush signed H.R. 4: The Pension Protection Act of 2006 (the Pension Act), P.L. 109-280. The Pension Act makes numerous significant changes to federal tax law affecting charitable giving and the operation of tax-exempt charitable organizations. Indeed, many have characterized the Pension Act as the most sweeping legislation to affect charities since the Tax Reform Act of 1969, which imposed the current regulatory regime for private foundations and public charities (including supporting organizations). This white paper is intended to summarize the most significant portions of the Pension Act. Our purpose is to highlight the most important issues that will be relevant to charities and charitable giving rather than providing a thorough discussion of the changes in the law arising from the Pension Act.
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