Increased limitation on charitable contributions for qualified hurricane disaster relief; certain contributions paid before April 15, 2025, treated as paid in 2024

(a) Qualified hurricane disaster contributions (1) Individuals In the case of any qualified hurricane disaster contribution, notwithstanding section 170(b) of such Code, the total amount of such contributions which may be taken into account under section 170(a) of such Code shall not exceed the excess of— (A) the taxpayer’s contribution base, over (B) the amount of all other charitable contributions allowable under section 170(b)(1) of such Code. (2) Carryover (A) In general If the aggregate amount of contributions described in paragraph (1) exceeds the limitation under such paragraph, such excess shall be treated (in a manner consistent with the rules of subsection 170(d)(1) of such Code) as a charitable contribution to which paragraph (1) applies in each of the 5 succeeding years in order of time. (B) Coordination with deduction for charitable contributions For purposes of applying this paragraph and sections 170(b)(1)(G) and 170(d)(1) of such Code, contributions described in paragraph (1) shall not be treated as described in subparagraph (A) or (G) of section 170(b)(1) of such Code and such subparagraphs shall be applied without regard to such contributions. (3) Application of election to partnerships and s corporations In the case of a partnership or S corporation, the election under subsection (e)(3)(A)(iii) shall be made separately by each partner or shareholder. (b) Corporations (1) In general In the case of any qualified hurricane disaster contribution, notwithstanding section 170(b) of such Code, the total amount of such contributions which may be taken into account under section 170(a) of such Code shall not exceed the excess of— (A) 20 percent of the taxpayer’s taxable income, over (B) the amount of charitable contributions allowed under section 170(b)(2)(A) of such Code. (2) Carryover If the aggregate amount of contributions described in paragraph (1) exceeds the limitation under such paragraph, such excess shall be treated (in a manner consistent with the rules of section 170(d)(1) of such Code) as a charitable contribution to which paragraph (1) applies in each of the 5 succeeding years in order of time. (3) Coordination with deduction for charitable contributions For purposes of applying this paragraph and sections 170(b)(2) of such Code, contributions described in paragraph (1) shall not be treated as described in subparagraph (A), (B), or (C) of section 170(b)(2) of such Code and such subparagraphs shall be applied without regard to such contributions. (c) Deduction allowed above the line In the case of an individual— (1) the standard deduction otherwise determined under section 63 of such Code shall be increased by so much of the deduction allowed under section 170 of such Code as would not be so allowed if determined without regard to this section, and (2) section 56(b)(1)(D) of such Code shall not apply to so much of the standard deduction as is attributable to the increase under paragraph (1). (d) Contributions treated as made in prior year For purposes of this section, a taxpayer may treat any qualified hurricane disaster contribution which is paid after December 31, 2024, and on or before April 15, 2025, as if such contribution was made on December 31, 2024, and not in 2025. (e) Definitions For purposes of this section— (1) Charitable contribution The term charitable contribution has the meaning given such term in section 170(c) of such Code. (2) Contribution base The term contribution base has the meaning given such term in section 170(b)(1)(H) of such Code. (3) Qualified hurricane disaster contribution (A) In general The term qualified hurricane disaster contribution means any charitable contribution if— (i) such contribution— (I) is paid on or after the first day of the incident period and before December 31, 2025, in cash to an organization described in section 170(b)(1)(A) of such Code, and (II) is made for relief efforts in a qualified hurricane disaster area related to Hurricane Helene or Hurricane Milton, (ii) the taxpayer obtains from such organization contemporaneous written acknowledgment (within the meaning of section 170(f)(8) of such Code) that such contribution was used (or is to be used) for relief efforts in a qualified hurricane disaster area related to Hurricane Helene or Hurricane Milton, and (iii) the taxpayer has elected the application of this section with respect to such contribution. (B) Exception A qualified hurricane disaster contribution shall not include a contribution by a donor if the contribution is— (i) to an organization described in section 509(a)(3) of such Code, or (ii) for establishment of a new, or maintenance of an existing, donor advised fund (as defined in section 4966(d)(2) of such Code).