Planned Giving Design Center published an article titled "Bill Would Enhance Charitable Deductions for Ordinary Income Property" by Marc Hoffman. In his article, Hoffman indicates that the proposed legislation would "increase the limitation on the amount of charitable contributions of ordinary income property taken into account in determining the charitable contribution deduction for any trade or business."
You may view the text of the proposed legislation here: Charitable Contribution Parity and Enhancement Act H.R. 2592.
You may track the status of the proposed legislation here: H.R. 2592 status.
See Marc Hoffman, "Bill Would Enhance Charitable Deductions for Ordinary Income Property" (July 26, 2011)
Posted by Jason Tyler Young, Associate Editor, Wealth Strategies Journal.