To amend the Internal Revenue Code of 1986 to allow a one-time election for a qualified charitable distribution to a split-interest entity and to inflation adjust the limits for qualified charitable distributions.

[AI summary unavailable — showing source text] This bill allows taxpayers an election to make a qualified charitable distribution to a split-interest entity (i.e., a charitable remainder annuity trust, charitable remainder unitrust, or charitable gift annuity funded exclusively by qualified charitable distributions). The aggregate amount of distributions may not exceed $50,000, adjusted for inflation for taxable years beginning after 2022.…