Article Devex

Devex: Bill to overhaul donor-advised funds introduced in US House

Two U.S. House representatives on Thursday introduced their version of a bill that they said would free up more than $140 billion in charitable gifts by limiting how long philanthropists can keep their money in donor-advised funds, or DAFS, which currently have no payout deadlines.

House representatives Chellie Pingree, a Democrat from Maine, and Tom Reed, a Republican from New York, on Thursday introduced the House version of the Accelerating Charitable Efforts Act.

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