To amend the Internal Revenue Code of 1986 to exclude from gross income charitable distributions from certain employer-sponsored retirement plans, and for other purposes.

Tax Exclusion for Charitable Giving: Under Section 1(a)(1), the aggregate amount of qualified charitable distributions will not be included in a taxpayer's gross income, up to an applicable amount. This allows individuals to support organizations without increasing their taxable income.

Support for Specific Organizations: Section 1(a)(2)(A) allows distributions to be made to organizations described in section 170(b)(1)(A). This facilitates direct giving from employer-sponsored plans to various charitable entities.

Inclusion of Various Retirement Plans: Section 1(b), 1(c), and 1(d) expand the application of these rules to SEPs, SIMPLEs, 403(b) plans, and 457(b) plans. This ensures a wider variety of retirement accounts can be used for these tax-advantaged charitable distributions.

Age Requirements: Per Section 1(a)(2)(B), a distribution is only considered a qualified charitable distribution if it is made on or after the date the individual reaches age 70\1/2. This limits the ability of younger individuals to utilize these specific tax benefits for charitable giving.

Organization Restrictions: Section 1(a)(2)(A) notes that the distribution cannot be made to organizations described in section 509(a)(3) or certain funds or accounts described in section 4966(d)(2). This restricts the types of charitable organizations that can receive these specific direct distributions.

Income Limits: Section 1(a)(1) and 1(a)(4)(A) establish that the exclusion from gross income is limited to an "applicable amount," which is calculated based on existing dollar amounts under section 408(d)(8). This means there is a cap on how much can be excluded from gross income.