S.Amdt. 3138

SA 3138. Ms. CANTWELL (for herself and Mr. Pryor) submitted an
amendment intended to be proposed to amendment SA 3060 proposed by Mr.
Wyden to the bill H.R. 3474, to amend the Internal Revenue Code of 1986
to allow employers to exempt employees with health coverage under
TRICARE or the Veterans Administration from being taken into account
for purposes of the employer mandate under the Patient Protection and
Affordable Care Act; which was ordered to lie on the table; as follows:

At the appropriate place, insert the following:

TITLE __--OTHER PROVISIONS

SEC. ___. DEDUCTIBILITY OF CERTAIN 2014 DISASTER LOSSES.

(a) In General.--Section 165(h), as amended by this Act, is
amended by inserting after paragraph (2) the following:
``(3) Special rule for losses in federally declared
disasters.--
``(A) In general.--If an individual has a net disaster loss
for any taxable year, the amount determined under paragraph
(2)(A)(ii) shall be the sum of--
``(i) such net disaster loss, and
``(ii) so much of the excess referred to in the matter
preceding clause (i) of paragraph (2)(A) (reduced by the
amount in clause (i) of this subparagraph) as exceeds 10
percent of the adjusted gross income of the individual.
``(B) Net disaster loss.--For purposes of subparagraph (A),
the term `net disaster loss' means the excess of--
``(i) the personal casualty losses--

``(I) attributable to a federally declared disaster
occurring during calendar year 2014, and
``(II) occurring in a disaster area, over

``(ii) personal casualty gains.
``(C) Federally declared disaster and area.--For purposes
of this paragraph, the terms `federally declared disaster'
and `disaster area' have the meanings given to such terms by
subsection (i)(5).''.
(b) Deduction Allowed in Computing Adjusted Gross Income.--
Subparagraph (A) of section 165(h)(5) is amended to read as
follows:
``(A) Certain personal casualty losses allowable in
computing adjusted gross income.--
``(i) Losses not in excess of personal casualty gains.--In
any case to which paragraph (2)(A) applies, the deduction for
personal casualty losses for any taxable year shall be
treated as a deduction allowable in computing adjusted gross
income to the extent such losses do not exceed the personal
casualty gains for the taxable year.
``(ii) Net disaster losses.--In any case to which paragraph
(3) applies, the portion of the deduction for personal
casualty losses for any taxable year which is properly
allocable to the net disaster loss for the taxable year shall
be treated as a deduction allowable in computing adjusted
gross income.''.
(c) Effective Date.--The amendments made by this section
shall apply to federally declared disasters occurring after
December 31, 2013, and to losses attributable to such
disasters.
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