S.Amdt. 1684

SA 1684. Mr. HATCH submitted an amendment intended to be proposed by
him to the bill H.R. 1, to provide for reconciliation pursuant to
titles II and V of the concurrent resolution on the budget for fiscal
year 2018; which was ordered to lie on the table; as follows:

At the end of part IV of subtitle C of title I, add the
following:

SEC. 13311. PROHIBITION ON CASH, GIFT CARDS, AND OTHER NON-
TANGIBLE PERSONAL PROPERTY AS EMPLOYEE
ACHIEVEMENT AWARDS.

(a) In General.--Subparagraph (A) of section 274(j)(3) is
amended--
(1) by striking ``The term'' and inserting the following:
``(i) In general.--The term''.
(2) by redesignating clauses (i), (ii), and (iii) as
subclauses (I), (II), and (III), respectively, and conforming
the margins accordingly, and
(3) by adding at the end the following new clause:
``(ii) Tangible personal property.--For purposes of clause
(i), the term `tangible personal property' shall not
include--

``(I) cash, cash equivalents, gift cards, gift coupons, or
gift certificates (other than arrangements conferring only
the right to select and receive tangible personal property
from a limited array of such items pre-selected or pre-
approved by the employer), or
``(II) vacations, meals, lodging, tickets to theater or
sporting events, stocks, bonds, other securities, and other
similar items.''.

(b) Effective Date.--The amendments made by this section
shall apply to prizes and awards granted in taxable years
beginning after December 31, 2017.
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