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FEDERAL INCOME, ESTATE & GIFT TAX PROJECT 1 (PROPOSED REVISION OF § X2033)

handle is hein.ali/aliftp0293 and id is 1 raw text is: .1Z)? TSED RFVISIJN Of S CTION X2033, CHA RITABLI' C NTRIBUTIONS DLDUCTION SECTION X2033. CHARITABLE CONTRIBUTIONS DEDUCTION. (a) GENERAL RULE. --There shall be allowed as a deduction from the gross estate in computing the net estate, in accordance with section X2031, the amount of all bequests, legacies, devises, or trans- fers to or for the use of any donee which qualifies under section X169(a). (b) RENUNCIATION OF AN INTERZST OR POWER. -- [continues unchanged as in Draft 10]. (c) CONTINGENT TRANSFERS.- --If as of the date of the decedent's death the bequest, legacy, devise ur transfer to charity of an interest described in subsection(a) is dependent upon the per- formance of some act or the happening of a precedent event in order that it might become effective. -- Alternative I (1) The deduction allowed by subsection (a) may be taken only if the possibility that a donee described in subsection (a) will not take is so remote as to be negligible; and (2) The amount of any deduction allowed under this subsection shall be the full present value of the contingent bequest, legacy, devise or transfer. Alternative II (1) The deduction allowed by subsection (a) may be taken only if (i) the event upon which the bequest, legacy, devise or transfer of an interest described in subsection (a) is conditioned upon the survival or the failure of survival of