Congressional representatives introduced companion legislation this week that would set timelines on when donations to donor-advised funds (DAF) would have to be distributed to working charities.
The Accelerating Charitable Efforts (ACE) Act, introduced by Rep. Chellie Pingree (D-Maine) and Rep. Tom Reed (R-N.Y.) with Rep. Ro Khanna (D-Calif.) and Rep. Katie Porter (D-Calif.), is similar to a measure introduced in the Senate last June by Angus King (I-Maine) and Chuck Grassley (R-Iowa).
Read more: https://www.thenonprofittimes.com/regulation/changes-to-daf-rules-drafted-again-on-capitol-hill/