A bill to amend the Internal Revenue Code of 1954 relating to the income tax treatment of charitable contributions of inventory and certain other ordinary income property.

[AI summary unavailable — showing source text] Provides that the tax deduction, under the Internal Revenue Code, for charitable contributions of ordinary income property that is used by the donee solely for the care of the ill, the needy, or infants, which use is related to the donee's basis for tax exempt status, shall be reduced by only one-half of the amount of gain which would have been realized if the property contributed had been sold at its fair market value.…