wfn.org | PC(USA) Board of Pensions praises housing allowance bill

[PCUSA NEWS <PCUSA.NEWS@ecunet.org>]

Note #7174 from PCUSA NEWS to PRESBYNEWS:

23-May-2002
02192

PC(USA) Board of Pensions praises housing allowance bill

by Jerry L. Van Marter

LOUISVILLE - The Board of Pensions of the Presbyterian Church (USA) has issued a statement praising legislation signed by President George W. Bush May 20 that preserves the clergy housing allowance.

The full text of the Board's statement:

"President George W. Bush signed the Clergy Housing Allowance Clarification Act into law May 20; this amended the statute to add the fair market rental value limitation for ordained clergy who exclude housing allowance payments from federal income taxation. With the enactment of the law, the parties to the Warren case moved to have the appeal in the Ninth Circuit dismissed, ending a the lawsuit challenging the constitutionality of Section 107(2) of the Internal Revenue Code.

"The Board of Pensions of the Presbyterian Church (U.S.A.) credits the work of the bill's sponsors U.S. Representatives Jim Ramstad (Minnesota) and Earl Pomeroy (North Dakota), U.S. Senators Max Baucus (Montana) and Chuck Grassely (Iowa), other members of Congress, and the President for their support of the clergy housing allowance income tax exclusion. 

"The Church Alliance, in which the Board of Pensions participates, worked with members of Congress, the courts and federal agencies to clarify the housing allowance provision in the Internal Revenue Code. It now limits the housing allowance income tax exclusion to the lesser of the value of church-provided housing or the fair market rental value of the house.  

"The Board also appreciates the grassroots support shown by members of the Benefits Plan and the middle governing body officials who encouraged their representatives and senators to support the bill."  
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