S.Amdt. 2689
What it does: Adds SEC. ____. DEDUCTION FOR CERTAIN EXPENSES INCURRED IN SUPPORT OF NATIVE ALASKAN SUBSISTENCE WHALING at the end of subtitle A of title III
Sen. Lisa Murkowski (R-AK)What it changes
1 change to S. 1637 · shown in the bill's text
Adds SEC. ____. DEDUCTION FOR CERTAIN EXPENSES INCURRED IN SUPPORT OF NATIVE ALASKAN SUBSISTENCE WHALING at the end of subtitle A of title III
Adds a sectionIn S. 1637 · Reported to Senate
(B) any election made under section 172(k) (as added by this section) of such Code shall (notwithstanding such section) be treated as timely made if made before April 15, 2004.
Inserted: SEC. ____. DEDUCTION FOR CERTAIN EXPENSES INCURRED IN SUPPORT OF NATIVE ALASKAN SUBSISTENCE WHALING.
Inserted: (a) In General.--Section 170 (relating to charitable, etc., contributions and gifts) is amended by redesignating subsection (m) as subsection (n) and by inserting after subsection (l) the following new subsection:
Inserted: "(m) Expenses Paid by Certain Whaling Captains in Support of Native Alaskan Subsistence Whaling.--
Inserted: "(1) In general.--In the case of an individual who is recognized by the Alaska Eskimo Whaling Commission as a whaling captain charged with the responsibility of maintaining and carrying out sanctioned whaling activities and who engages in such activities during the taxable year, the amount described in paragraph (2) (to the extent such amount does not exceed $10,000 for the taxable year) shall be treated for purposes of this section as a charitable contribution.
Inserted: "(2) Amount described.--
Inserted: "(A) In general.--The amount described in this paragraph is the aggregate of the reasonable and necessary whaling expenses paid by the taxpayer during the taxable year in carrying out sanctioned whaling activities.
Inserted: "(B) Whaling expenses.--For purposes of subparagraph (A), the term 'whaling expenses' includes expenses for--
Inserted: "(i) the acquisition and maintenance of whaling boats, weapons, and gear used in sanctioned whaling activities,
Inserted: "(ii) the supplying of food for the crew and other provisions for carrying out such activities, and
Inserted: "(iii) storage and distribution of the catch from such activities.
Inserted: "(3) Sanctioned whaling activities.--For purposes of this subsection, the term 'sanctioned whaling activities' means subsistence bowhead whale hunting activities conducted pursuant to the management plan of the Alaska Eskimo Whaling Commission.".
Inserted: (b) Effective Date.--The amendments made by subsection (a) shall apply to contributions made after December 31, 2003.
Original wording
At the end of subtitle A of title III, insert:
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
SA 2689. Ms. MURKOWSKI submitted an amendment intended to be proposed by her to the bill S. 1637, to amend the Internal Revenue Code of 1986 to comply with the World Trade Organization rulings on the FSC/ETI benefit in a manner that preserves jobs and production activities in the United States, to reform and simplify the international taxation rules of the United States, and for other purposes; which was ordered to lie on the table; as follows:
At the end of subtitle A of title III, insert:
SEC. ____. DEDUCTION FOR CERTAIN EXPENSES INCURRED IN SUPPORT OF NATIVE ALASKAN SUBSISTENCE WHALING.
(a) In General.--Section 170 (relating to charitable, etc., contributions and gifts) is amended by redesignating subsection (m) as subsection (n) and by inserting after subsection (l) the following new subsection:
“(m) Expenses Paid by Certain Whaling Captains in Support of Native Alaskan Subsistence Whaling.--
“(1) In general.--In the case of an individual who is recognized by the Alaska Eskimo Whaling Commission as a whaling captain charged with the responsibility of maintaining and carrying out sanctioned whaling activities and who engages in such activities during the taxable year, the amount described in paragraph (2) (to the extent such amount does not exceed $10,000 for the taxable year) shall be treated for purposes of this section as a charitable contribution.
“(2) Amount described.--
“(A) In general.--The amount described in this paragraph is the aggregate of the reasonable and necessary whaling expenses paid by the taxpayer during the taxable year in carrying out sanctioned whaling activities.
“(B) Whaling expenses.--For purposes of subparagraph (A), the term ‘whaling expenses' includes expenses for--
“(i) the acquisition and maintenance of whaling boats, weapons, and gear used in sanctioned whaling activities,
“(ii) the supplying of food for the crew and other provisions for carrying out such activities, and
“(iii) storage and distribution of the catch from such activities.
“(3) Sanctioned whaling activities.--For purposes of this subsection, the term ‘sanctioned whaling activities' means subsistence bowhead whale hunting activities conducted pursuant to the management plan of the Alaska Eskimo Whaling Commission.”.
(b) Effective Date.--The amendments made by subsection (a) shall apply to contributions made after December 31, 2003.
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Senate amendment submitted
March 4, 2004