1. Short title This Act may be cited as the Interest for Others Act of 2017 . 2. Exclusion from gross income of certain interest and money market fund dividends paid to charity (a) In general Part III of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 139E the following: 139F. Interest and money market fund dividends donated to charity (a) General rule In the case of a taxpayer who is an individual, trust, or estate, gross income for a taxable year shall not include the amount of a charitable contribution pursuant to a qualified program made during the taxable year in which a calendar year ends. (b) Limitations (1) Exclusion limited to interest and dividend income The amount excluded from gross income by subsection (a) for a calendar year shall not exceed the sum of— (A) in the case of a deposit in a financial institution, the lesser of— (i) the amount of interest paid to the taxpayer on such deposit for the calendar year, and (ii) the aggregate charitable contribution from such deposit during the calendar year, and (B) in the case of shares in a money market fund, the lesser of— (i) the amount of dividends paid with respect to such shares for the calendar year, and (ii) the aggregate charitable contribution from such shares during the calendar year. (2) Account limitation The amount excluded from gross income by subsection (a) from an account for a calendar year shall not exceed $50. (c) Qualified program For purposes of this section— (1) In general The term qualified program means a program adopted by a financial institution or a money market fund (as the case may be) under which— (A) the owner of a deposit in the financial institution or of shares in the money market fund— (i) elects to participate in the program, (ii) elects the amount of donation from the owner’s deposit or shares, and (iii) designates an entity described in section 170(c) to receive the donation, and (B) the financial institution or money market fund makes, directly or through a