[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[S. 1696 Placed on Calendar Senate (PCS)]
Calendar No. 212
109th CONGRESS
1st Session
S. 1696
To provide tax relief for the victims of Hurricane Katrina, to provide
incentives for charitable giving, and for other purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
September 13, 2005
Mr. Grassley (for himself, Mr. Baucus, Mr. Lott, Ms. Landrieu, Mr.
Vitter, Mr. Cochran, Mr. Shelby, and Mr. Craig) introduced the
following bill; which was referred to the Committee on Finance
September 15, 2005
Committee discharged; amended and ordered to be placed on the calendar
_______________________________________________________________________
A BILL
To provide tax relief for the victims of Hurricane Katrina, to provide
incentives for charitable giving, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE; AMENDMENT OF 1986 CODE; TABLE OF CONTENTS.
(a) Short Title.--This Act may be cited as the ``Hurricane Katrina
Tax Relief Act of 2005''.
(b) Amendment of 1986 Code.--Except as otherwise expressly
provided, whenever in this Act an amendment or repeal is expressed in
terms of an amendment to, or repeal of, a section or other provision,
the reference shall be considered to be made to a section or other
provision of the Internal Revenue Code of 1986.
(c) Table of Contents.--The table of contents for this Act is as
follows:
Sec. 1. Short title; amendment of 1986 Code; table of contents.
Sec. 2. Hurricane Katrina disaster area.
TITLE I--PENALTY FREE USE OF RETIREMENT FUNDS BY NATURAL DISASTER
VICTIMS
Sec. 101. Penalty free withdrawals from retirement plans for victims of
federally declared natural disasters.
Sec. 102. Income averaging for disaster-relief distributions related to
Hurricane Katrina.
Sec. 103. Recontributions of withdrawals for home purchases cancelled
due to Hurricane Katrina.
Sec. 104. Loans from qualified plans to victims of Hurricane Katrina.
Sec. 105. Provisions relating to plan amendments.
TITLE II--EMPLOYMENT RELIEF
Sec. 201. Work opportunity tax credit for Hurricane Katrina employee
survivors.
Sec. 202. Employee retention credit for employers affected by Hurricane
Katrina.
TITLE III--CHARITABLE GIVING INCENTIVES
Sec. 301. Temporary increase in limitation on individual and corporate
charitable cash contributions.
Sec. 302. Tax-free distributions from individual retirement accounts
for charitable purposes.
Sec. 303. Charitable deduction for contributions of food inventories.
Sec. 304. Charitable deduction for contributions of book inventories.
Sec. 305. Additional personal exemption amount for Hurricane Katrina
houseguest.
Sec. 306. Increase in standard mileage rate for charitable use of
passenger automobile.
TITLE IV--ADDITIONAL TAX RELIEF PROVISIONS
Sec. 401. Exclusions of certain cancellations of indebtedness for
victims of Hurricane Katrina.
Sec. 402. Modification to casualty loss rules for victims of Hurricane
Katrina.
Sec. 403. Required exercise of authority under section 7508A for tax
relief for victims of Hurricane Katrina.
Sec. 404. Special mortgage financing rules for residences located in
Hurricane Katrina disaster area.
Sec. 405. Extension of replacement period for nonrecognition of gain
for property located in Hurricane Katrina
disaster area.
Sec. 406. Special rule for determining earned income.
Sec. 407. Secretarial authority to make adjustments regarding taxpayer
and dependency status.
TITLE V--ADDITIONAL PROVISIONS
Sec. 501. Disclosure to State officials of proposed actions related to
exempt organizations.
Sec. 502. Dedication and use of certain fees.
SEC. 2. HURRICANE KATRINA DISASTER AREA.
For purposes of this Act, the term ``Hurricane Katrina disaster
area'' means an area--
(1) with respect to which a major disaster has been
declared by the President before September 14, 2005, under
section 401 of the Robert T. Stafford Disaster Relief and
Emergency Assistance Act in connection with Hurricane Katrina,
and
(2) which is determined by the President before such date
to warrant individual assistance, or individual and public
assistance, from the Federal Government under such Act.
TITLE I--PENALTY FREE USE OF RETIREMENT FUNDS BY NATURAL DISASTER
VICTIMS
SEC. 101. PENALTY FREE WITHDRAWALS FROM RETIREMENT PLANS FOR VICTIMS OF
FEDERALLY DECLARED NATURAL DISASTERS.
(a) In General.--Paragraph (2) of section 72(t) (relating to 10-
percent additional tax on early distributions from qualified retirement
plans) is amended by adding at the end the following new subparagraph:
``(G) Distributions from retirement plans to
victims of federally declared natural disasters.--
``(i) Distribution allowed.--Any qualified
disaster-relief distribution.
``(ii) Amount distributed may be repaid.--
``(I) In general.--Any individual
who receives a qualified disaster-
relief distribution may, at any time
during the 3-year period beginning on
the day after the date on which such
distribution was made, make one or more
contributions in an aggregate amount
not to exceed the amount of such
distribution to an eligible retirement
plan (as defined in section
402(c)(8)(B)) of which such individual
is a beneficiary and to which a
rollover contribution of such
distribution could be made under
section 402(c), 403(a)(4), 403(b)(8),
408(d)(3), or 457(e)(16), as the case
may be.
``(II) Treatment of repayments for
distributions from eligible retirement
plans other than iras.--For purposes of
this title, if a contribution is made
pursuant to subclause (I) with respect
to a qualified disaster-relief
distribution from an eligible
retirement plan (as so defined) other
than an individual retirement plan,
then the taxpayer shall, to the extent
of the amount of the contribution, be
treated as having received the
qualified disaster-relief distribution
in an eligible rollover distribution
(as defined in section 402(c)(4)) and
as having transferred the amount to the
eligible retirement plan in a direct
trustee to trustee transfer within 60
days of the distribution.
``(III) Treatment of repayments for
distributions from iras.--For purposes
of this title, if a contribution is
made pursuant to subclause (I) with
respect to a qualified disaster-relief
distribution from an individual
retirement plan, then, to the extent of
the amount of the contribution, the
qualified disaster-relief distribution
shall be treated as a distribution
described in section 408(d)(3) and as
having been transferred to the eligible
retirement plan in a direct trustee to
trustee transfer within 60 days of the
distribution.
``(IV) Application to governmental
section 457 plans.--In determining
whether any distribution is a qualified
disaster-relief distribution for
purposes of this clause, an eligible
deferred compensation plan (as defined
in section 457(b)) maintained by an
employer described in section
457(e)(1)(A) shall be treated as a
qualified retirement plan.
``(iii) Qualified disaster-relief
distribution.--Except as provided in clause
(iv), for purposes of this subparagraph, the
term `qualified disaster-relief distribution'
means any distribution--
``(I) to an individual who has
sustained a loss as a result of a major
disaster declared under section 401 of
the Robert T. Stafford Disaster Relief
and Emergency Assistance Act and who
has a principal place of abode
immediately before the declaration in a
qualified disaster area, and
``(II) which is made during the 1-
year period beginning on the date such
declaration is made.
``(iv) Dollar limitation.--
``(I) In general.--The term
`qualified disaster-relief
distribution' shall not include any
distributions with respect to any major
disaster described in clause (iii)(I)
to the extent the aggregate amount of
such distributions exceeds $100,000.
``(II) Treatment of plan
distributions.--If a distribution to an
individual with respect to any such
major disaster would (without regard to
subclause (I)) be a qualified disaster-
relief distribution, a plan shall not
be treated as violating any requirement
of this title merely because it treats
such distribution as a qualified
disaster-relief distribution, unless
the aggregate amount of such
distributions from all plans maintained
by the employer (and any member of
controlled group which includes the
employer) to such individual with
respect to such major disaster exceeds
$100,000.
``(v) Qualified disaster area.--For
purposes of this subparagraph, the term
`qualified disaster area' means an area--
``(I) with respect to which a major
disaster has been declared by the
President under section 401 of the
Robert T. Stafford Disaster Relief and
Emergency Assistance Act, and
``(II) which is determined by the
President to warrant individual
assistance, or individual and public
assistance, from the Federal Government
under such Act.''.
(b) Exemption of Distributions From Trustee to Trustee Transfer and
Withholding Rules.--Paragraph (4) of section 402(c) (relating to
eligible rollover distribution) is amended by striking ``and'' at the
end of subparagraph (B), by striking the period at the end of
subparagraph (C) and inserting ``, and'', and by inserting at the end
the following new subparagraph:
``(D) any qualified disaster-relief distribution
(within the meaning of section 72(t)(2)(G)).''.
(c) Conforming Amendments.--
(1) Section 401(k)(2)(B)(i) is amended by striking ``or''
at the end of subclause (III), by striking ``and'' at the end
of subclause (IV) and inserting ``or'', and by inserting after
subclause (IV) the following new subclause:
``(V) the date on which a period
referred to in section
72(t)(2)(G)(iii)(II) begins (but only
to the extent provided in section
72(t)(2)(G)), and''.
(2) Section 403(b)(7)(A)(ii) is amended by inserting
``sustains a loss as a result of a major disaster declared
under section 401 of the Robert T. Stafford Disaster Relief and
Emergency Assistance Act (but only to the extent provided in
section 72(t)(2)(G)),'' before ``or''.
(3) Section 403(b)(11) is amended by striking ``or'' at the
end of subparagraph (A), by striking the period at the end of
subparagraph (B) and inserting ``, or'', and by inserting after
subparagraph (B) the following new subparagraph:
``(C) for distributions to which section
72(t)(2)(G) applies.''.
(4) Section 457(d)(1)(A) is amended by striking ``or'' at
the end of clause (ii), by adding ``or'' at the end of clause
(iii), and by adding at the end the following new clause:
``(iv) in the case of an eligible deferred
compensation plan established and maintained by
an employer described in subsection (e)(1)(A),
when the participant sustains a loss as a
result of a major disaster declared under
section 401 of the Robert T. Stafford Disaster
Relief and Emergency Assistance Act (but only
to the extent provided in section
72(t)(2)(G)),''.
(d) Effective Date.--The amendments made by this section shall
apply to distributions received after August 28, 2005.
SEC. 102. INCOME AVERAGING FOR DISASTER-RELIEF DISTRIBUTIONS RELATED TO
HURRICANE KATRINA.
(a) In General.--In the case of any qualified disaster-relief
distribution (within the meaning of section 72(t)(2)(G) of the Internal
Revenue Code of 1986) from a qualified retirement plan (as defined in
section 4974(c) of such Code) to a qualified individual, unless the
taxpayer elects not to have this section apply for any taxable year,
any amount required to be included in gross income for such taxable
year shall be so included ratably over the 3-taxable year period
beginning with such taxable year.
(b) Special Rules.--
(1) Application to governmental section 457 plans.--In
determining whether any distribution is a qualified disaster-
relief distribution (as so defined) for purposes of this
section, an eligible deferred compensation plan (as defined in
section 457(b) of such Code) maintained by an employer
described in section 457(e)(1)(A) of such Code shall be treated
as a qualified retirement plan (as so defined).
(2) Certain rules to apply.--Rules similar to the rules of
subparagraph (E) of section 408A(d)(3) of such Code shall apply
for purposes of this section.
(c) Qualified Individual.--For purposes of this section, the term
``qualified individual'' means an individual who has sustained a loss
as a result of the major disaster declared under section 401 of the
Robert T. Stafford Disaster Relief and Emergency Assistance Act (42
U.S.C. 5170) in connection with Hurricane Katrina and who has a
principal place of abode immediately before the declaration in a
Hurricane Katrina disaster area.
SEC. 103. RECONTRIBUTIONS OF WITHDRAWALS FOR HOME PURCHASES CANCELLED
DUE TO HURRICANE KATRINA.
(a) Recontributions.--
(1) In general.--Any individual who received a qualified
distribution may, at any time during the 6-month period
beginning on the day after the disaster declaration date, make
one or more contributions in an aggregate amount not to exceed
the amount of such qualified distribution to an eligible
retirement plan (as defined in section 402(c)(8)(B) of the
Internal Revenue Code of 1986) of which such individual is a
beneficiary and to which a rollover contribution of such
distribution could be made under section 402(c), 403(a)(4),
403(b)(8), or 408(d)(3) of such Code, as the case may be.
(2) Treatment of repayments.--
(A) Treatment of repayments for distributions from
eligible retirement plans other than iras.--For
purposes of the Internal Revenue Code of 1986, if a
contribution is made pursuant to paragraph (1) with
respect to a qualified distribution from an eligible
retirement plan (as so defined) other than an
individual retirement plan (as defined in section
7701(a)(37) of such Code), then the taxpayer shall, to
the extent of the amount of the contribution, be
treated as having received the qualified distribution
in an eligible rollover distribution (as defined in
section 402(c)(4) of such Code) and as having
transferred the amount to the eligible retirement plan
in a direct trustee to trustee transfer within 60 days
of the distribution.
(B) Treatment of repayments for distributions from
iras.--For purposes of the Internal Revenue Code of
1986, if a contribution is made pursuant to paragraph
(1) with respect to a qualified distribution from an
individual retirement plan (as so defined), then, to
the extent of the amount of the contribution, the
qualified distribution shall be treated as a
distribution described in section 408(d)(3) of such
Code and as having been transferred to the eligible
retirement plan (as so defined) in a direct trustee to
trustee transfer within 60 days of the distribution.
(b) Definitions.--For purposes of this section--
(1) Qualified distribution.--The term ``qualified
distribution'' means any distribution--
(A) described in section 401(k)(2)(B)(i)(IV),
403(b)(7)(A)(ii) (but only to the extent such
distribution relates to financial hardship),
403(b)(11)(B), or 72(t)(2)(F) of the Internal Revenue
Code of 1986,
(B) received after February 28, 2005, and before
August 29, 2005, and
(C) which was to be used to purchase or construct a
principal residence in a Hurricane Katrina disaster
area, but which was not so purchased or constructed.
(2) Disaster declaration date.--The term ``disaster
declaration date'' means the date on which the President
designated the area as a Hurricane Katrina disaster area.
SEC. 104. LOANS FROM QUALIFIED PLANS TO VICTIMS OF HURRICANE KATRINA.
(a) Increase in Limit on Loans Not Treated as Distributions.--In
the case of any loan from a qualified employer plan (as defined under
section 72(p)(4) of the Internal Revenue Code of 1986) to a qualified
individual (as defined in section 102(c)) made after the date of
enactment of this Act and before the date which is 1 year after the
disaster declaration date (as defined in section 103(b)(2))--
(1) clause (i) of section 72(p)(2)(A) of such Code shall be
applied by substituting ``$100,000'' for ``$50,000'', and
(2) clause (ii) of such section shall be applied by
substituting ``the present value of the nonforfeitable accrued
benefit of the employee under the plan'' for ``one-half of the
present value of the nonforfeitable accrued benefit of the
employee under the plan''.
(b) Delay of Repayment.--In the case of a qualified individual (as
defined in section 102(c)) with an outstanding loan on or after August
26, 2005, from a qualified employer plan (as defined in section
72(p)(4) of the Internal Revenue Code of 1986)--
(1) if the due date pursuant to subparagraph (B) or (C) of
section 72(p)(2) of such Code for any repayment with respect to
such loan occurs during the period beginning after August 29,
2005, and ending before August 30, 2006, such due date shall be
delayed for 1 year,
(2) any subsequent repayments with respect to any such loan
shall be appropriately adjusted to reflect the delay in the due
date under paragraph (1) and any interest accruing during such
delay, and
(3) in determining the 5-year period and the term of a loan
under subparagraph (B) or (C) of section 72(p)(2) of such Code,
such period shall be disregarded.
SEC. 105. PROVISIONS RELATING TO PLAN AMENDMENTS.
(a) In General.--If this section applies to any plan or contract
amendment such plan or contract shall be treated as being operated in
accordance with the terms of the plan during the period described in
subsection (b)(2)(A).
(b) Amendments to Which Section Applies.--
(1) In general.--This section shall apply to any amendment
to any plan or annuity contract which is made--
(A) pursuant to any amendment made by this title,
or pursuant to any regulation issued by the Secretary
of the Treasury or the Secretary of Labor under this
title, and
(B) on or before the last day of the first plan
year beginning on or after January 1, 2007, or such
later date as the Secretary of the Treasury may
prescribe.
In the case of a governmental plan (as defined in section
414(d) of the Internal Revenue Code of 1986), subparagraph (B)
shall be applied by substituting the date which is 2 years
after the date otherwise applied under subparagraph (B).
(2) Conditions.--This section shall not apply to any
amendment unless--
(A) during the period--
(i) beginning on the date the legislative
or regulatory amendment described in paragraph
(1)(A) takes effect (or in the case of a plan
or contract amendment not required by such
legislative or regulatory amendment, the
effective date specified by the plan), and
(ii) ending on the date described in
paragraph (1)(B) (or, if earlier, the date the
plan or contract amendment is adopted),
the plan or contract is operated as if such plan or
contract amendment were in effect; and
(B) such plan or contract amendment applies
retroactively for such period.
TITLE II--EMPLOYMENT RELIEF
SEC. 201. WORK OPPORTUNITY TAX CREDIT FOR HURRICANE KATRINA EMPLOYEE
SURVIVORS.
(a) In General.--For purposes of section 51 of the Internal Revenue
Code of 1986, a Hurricane Katrina employee survivor shall be treated as
a member of a targeted group.
(b) Hurricane Katrina Employee Survivor.--For purposes of this
section, the term ``Hurricane Katrina employee survivor'' means any
individual who is certified as an individual who--
(1) on August 28, 2005, had a principal place of abode in a
Hurricane Katrina disaster area, and
(2) became unemployed as a result of Hurricane Katrina.
(c) Special Rules for Determining Credit.--For purposes of applying
subpart F of part IV of subchapter A of chapter 1 of such Code to wages
paid or incurred to any Hurricane Katrina employee survivor--
(1) section 51(c)(4) of such Code shall not apply,
(2) notwithstanding section 51(d)(12) of such Code, the
certification under subsection (b) shall be made in such manner
and at such time as determined by the Secretary of the
Treasury, except that the certification shall be made by a
person other than such employee survivor or the employer
(within the meaning of section 51 of such Code), and
(3) section 51(i)(2) of such Code shall not apply with
respect to the first hire of such employee survivor, unless
such employee survivor was an employee of the employer on
August 28, 2005.
(d) Application of Section.--This section shall apply to wages
(within the meaning of section 51(c) of such Code) paid or incurred to
any individual who begins work--
(1) for an employer during the 1-year period beginning on
August 29, 2005, or
(2) in the case of an individual who is being hired for a
position the principal place of employment of which is located
in a Hurricane Katrina disaster area, for any employer during
the 3-year period beginning on such date.
SEC. 202. EMPLOYEE RETENTION CREDIT FOR EMPLOYERS AFFECTED BY HURRICANE
KATRINA.
(a) In General.--In the case of an eligible employer, there shall
be allowed as a credit against the tax imposed by chapter 1 of the
Internal Revenue Code of 1986 for the taxable year an amount equal to
40 percent of the qualified wages with respect to each eligible
employee of such employer for such taxable year. For purposes of the
preceding sentence, the amount of qualified wages which may be taken
into account with respect to any individual shall not exceed $6,000.
(b) Definitions.--For purposes of this section--
(1) Eligible employer.--The term ``eligible employer''
means any employer--
(A) which conducted an active trade or business on
August 28, 2005, in a Hurricane Katrina disaster area,
and
(B) with respect to whom the trade or business
described in subparagraph (A) is inoperable on any day
after August 28, 2005, and before January 1, 2006, as a
result of damage sustained in connection with Hurricane
Katrina.
(2) Eligible employee.--The term ``eligible employee''
means with respect to an eligible employer--
(A) an employee whose principal place of employment
on August 28, 2005, with such eligible employer was in
a Hurricane Katrina disaster area, or
(B) a Ready Reserve-National Guard employee of such
eligible employer who is performing qualified active
duty and whose principal place of employment
immediately before the date on which such employee
began performing such qualified active duty was in a
Hurricane Katrina disaster area.
(3) Qualified wages.--The term ``qualified wages'' means
wages (as defined in section 51(c)(1) of the Internal Revenue
Code of 1986, but without regard to section 3306(b)(2)(B) of
such Code) paid or incurred by an eligible employer with
respect to an eligible employee on any day after August 28,
2005, and before January 1, 2006, which occurs during the
period--
(A) beginning on the date on which the trade or
business described in paragraph (1) first became
inoperable at the principal place of employment of the
employee immediately before Hurricane Katrina, and
(B) ending on the date on which such trade or
business has resumed significant operations at such
principal place of employment.
Such term shall include wages paid without regard to whether
the employee performs no services, performs services at a
different place of employment than such principal place of
employment, or performs services at such principal place of
employment before significant operations have resumed.
(4) Ready reserve-national guard employee.--The term
``Ready Reserve-National Guard employee'' means an employee who
is a member of the Ready Reserve of a reserve component of an
Armed Force of the United States as described in section 10142
and 10101 of title 10, United States Code and who is performing
qualified active duty.
(5) Qualified active duty.--The term ``qualified active
duty'' means--
(A) active duty, other than the training duty
specified in section 10147 of title 10, United States
Code (relating to training requirements for Ready
Reserve), or section 502(a) of title 32, United States
Code (relating to required drills and field exercises
for the National Guard), in connection with which an
employee is entitled to reemployment rights and other
benefits or to a leave of absence from employment under
chapter 43 of title 38, United States Code, and
(B) hospitalization incident to such duty.
(c) Certain Rules to Apply.--For purposes of this section, rules
similar to the rules of sections 51(i)(1), 52, and 280C(a) of the
Internal Revenue Code of 1986 shall apply.
(d) Credit to Be Part of General Business Credit.--The credit
allowed under this section shall be added to the current year business
credit under section 38(b) of the Internal Revenue Code of 1986 and
shall be treated as a credit allowed under subpart D of part IV of
subchapter A of chapter 1 of such Code.
TITLE III--CHARITABLE GIVING INCENTIVES
SEC. 301. TEMPORARY INCREASE IN LIMITATION ON INDIVIDUAL AND CORPORATE
CHARITABLE CASH CONTRIBUTIONS.
(a) In General.--In the case of qualified contributions made during
the period beginning on August 29, 2005, and ending on December 31,
2005, in the case of any taxable year which includes any portion of
such period--
(1) subsection (b)(1)(A) of section 170 of the Internal
Revenue Code of 1986 shall be applied separately--
(A) first without regard to such contributions, and
(B) next with regard to such contributions by
substituting ``60 percent of the taxpayer's
contribution base less the other contributions
allowable under this paragraph for the taxable year''
for ``50 percent of the taxpayer's contribution base
for the taxable year'', and
(2) subsection (b)(2) of section 170 of such Code shall be
applied separately--
(A) first without regard to such contributions, and
(B) next with regard to such contributions by
substituting ``15 percent of the taxpayer's taxable
income less the other charitable contributions
allowable for the taxable year'' for ``10 percent of
the taxpayer's taxable income''.
(b) Qualified Contributions.--For purposes of this section, the
term ``qualified contributions'' means any charitable contributions (as
defined in section 170(c) of such Code) made in cash to an organization
described in section 170(b)(1)(A) of such Code.
(c) Application of Carryover Rules.--For purposes of section 170 of
such Code--
(1) qualified contributions shall not be taken into account
under section 170(d)(1)(A)(i) of such Code in determining the
amount of the deduction allowable under such section with
respect to such contributions, and
(2) to the extent qualified contributions increase the
amount allowable under section 170 of such Code by reason of
subsection (a), such contributions shall not be taken into
account under section 170(d) of such Code.
(d) Fiscal Year Taxpayers.--In the case of a taxpayer whose taxable
year ends after August 28, 2005, and before December 31, 2005,
subsection (a) shall apply to only the one taxable year that the
taxpayer elects.
SEC. 302. TAX-FREE DISTRIBUTIONS FROM INDIVIDUAL RETIREMENT ACCOUNTS
FOR CHARITABLE PURPOSES.
(a) In General.--Subsection (d) of section 408 (relating to
individual retirement accounts) is amended by adding at the end the
following new paragraph:
``(8) Distributions for charitable purposes.--
``(A) In general.--No amount shall be includible in
gross income by reason of a qualified charitable
distribution.
``(B) Qualified charitable distribution.--For
purposes of this paragraph, the term `qualified
charitable distribution' means any distribution made
after August 28, 2005, and before January 1, 2006, from
an individual retirement account--
``(i) which is made directly by the
trustee--
``(I) to an organization described
in section 170(c), or
``(II) to a split-interest entity,
and
``(ii) which is made on or after--
``(I) in the case of any
distribution described in clause
(i)(I), the date that the individual
for whose benefit the account is
maintained has attained age 70\1/2\,
and
``(II) in the case of any
distribution described in clause
(i)(II), the date that such individual
has attained age 59\1/2\.
A distribution shall be treated as a qualified
charitable distribution only to the extent that the
distribution would be includible in gross income
without regard to subparagraph (A) and, in the case of
a distribution to a split-interest entity, only if no
person holds an income interest in the amounts in the
split-interest entity attributable to such distribution
other than one or more of the following: the individual
for whose benefit such account is maintained, the
spouse of such individual, or any organization
described in section 170(c).
``(C) Contributions must be otherwise deductible.--
For purposes of this paragraph--
``(i) Direct contributions.--A distribution
to an organization described in section 170(c)
shall be treated as a qualified charitable
distribution only if a deduction for the entire
distribution would be allowable under section
170 (determined without regard to subsection
(b) thereof and this paragraph).
``(ii) Split-interest gifts.--A
distribution to a split-interest entity shall
be treated as a qualified charitable
distribution only if a deduction for the entire
value of the interest in the distribution for
the use of an organization described in section
170(c) would be allowable under section 170
(determined without regard to subsection (b)
thereof and this paragraph).
``(D) Application of section 72.--Notwithstanding
section 72, in determining the extent to which a
distribution is a qualified charitable distribution,
the entire amount of the distribution shall be treated
as includible in gross income without regard to
subparagraph (A) to the extent that such amount does
not exceed the aggregate amount which would have been
so includible if all amounts were distributed from all
individual retirement accounts treated as 1 contract
under paragraph (2)(A) for purposes of determining the
inclusion on such distribution under section 72. Proper
adjustments shall be made in applying section 72 to
other distributions in such taxable year and subsequent
taxable years.
``(E) Special rules for split-interest entities.--
``(i) Charitable remainder trusts.--
Notwithstanding section 664(b), distributions
made from a trust described in subparagraph
(G)(i) shall be treated as ordinary income in
the hands of the beneficiary to whom is paid
the annuity described in section 664(d)(1)(A)
or the payment described in section
664(d)(2)(A).
``(ii) Pooled income funds.--No amount
shall be includible in the gross income of a
pooled income fund (as defined in subparagraph
(G)(ii)) by reason of a qualified charitable
distribution to such fund, and all
distributions from the fund which are
attributable to qualified charitable
distributions shall be treated as ordinary
income to the beneficiary.
``(iii) Charitable gift annuities.--
Qualified charitable distributions made for a
charitable gift annuity shall not be treated as
an investment in the contract.
``(F) Denial of deduction.--Qualified charitable
distributions shall not be taken into account in
determining the deduction under section 170.
``(G) Split-interest entity defined.--For purposes
of this paragraph, the term `split-interest entity'
means--
``(i) a charitable remainder annuity trust
or a charitable remainder unitrust (as such
terms are defined in section 664(d)) which must
be funded exclusively by qualified charitable
distributions,
``(ii) a pooled income fund (as defined in
section 642(c)(5)), but only if the fund
accounts separately for amounts attributable to
qualified charitable distributions, and
``(iii) a charitable gift annuity (as
defined in section 501(m)(5)).''.
(b) Modifications Relating to Information Returns by Certain
Trusts.--
(1) Returns.--Section 6034 (relating to returns by trusts
described in section 4947(a)(2) or claiming charitable
deductions under section 642(c)) is amended to read as follows:
``SEC. 6034. RETURNS BY TRUSTS DESCRIBED IN SECTION 4947(A)(2) OR
CLAIMING CHARITABLE DEDUCTIONS UNDER SECTION 642(C).
``(a) Trusts Described in Section 4947(a)(2).--Every trust
described in section 4947(a)(2) shall furnish such information with
respect to the taxable year as the Secretary may by forms or
regulations require.
``(b) Trusts Claiming a Charitable Deduction Under Section
642(c).--
``(1) In general.--Every trust not required to file a
return under subsection (a) but claiming a deduction under
section 642(c) for the taxable year shall furnish such
information with respect to such taxable year as the Secretary
may by forms or regulations prescribe, including--
``(A) the amount of the deduction taken under
section 642(c) within such year,
``(B) the amount paid out within such year which
represents amounts for which deductions under section
642(c) have been taken in prior years,
``(C) the amount for which such deductions have
been taken in prior years but which has not been paid
out at the beginning of such year,
``(D) the amount paid out of principal in the
current and prior years for the purposes described in
section 642(c),
``(E) the total income of the trust within such
year and the expenses attributable thereto, and
``(F) a balance sheet showing the assets,
liabilities, and net worth of the trust as of the
beginning of such year.
``(2) Exceptions.--Paragraph (1) shall not apply to a trust
for any taxable year if--
``(A) all the net income for such year, determined
under the applicable principles of the law of trusts,
is required to be distributed currently to the
beneficiaries, or
``(B) the trust is described in section
4947(a)(1).''.
(2) Increase in penalty relating to filing of information
return by split-interest trusts.--Paragraph (2) of section
6652(c) (relating to returns by exempt organizations and by
certain trusts) is amended by adding at the end the following
new subparagraph:
``(C) Split-interest trusts.--In the case of a
trust which is required to file a return under section
6034(a), subparagraphs (A) and (B) of this paragraph
shall not apply and paragraph (1) shall apply in the
same manner as if such return were required under
section 6033, except that--
``(i) the 5 percent limitation in the
second sentence of paragraph (1)(A) shall not
apply,
``(ii) in the case of any trust with gross
income in excess of $250,000, the first
sentence of paragraph (1)(A) shall be applied
by substituting `$100' for `$20', and the
second sentence thereof shall be applied by
substituting `$50,000' for `$10,000', and
``(iii) the third sentence of paragraph
(1)(A) shall be disregarded.
In addition to any penalty imposed on the trust
pursuant to this subparagraph, if the person required
to file such return knowingly fails to file the return,
such penalty shall also be imposed on such person who
shall be personally liable for such penalty.''.
(3) Confidentiality of noncharitable beneficiaries.--
Subsection (b) of section 6104 (relating to inspection of
annual information returns) is amended by adding at the end the
following new sentence: ``In the case of a trust which is
required to file a return under section 6034(a), this
subsection shall not apply to information regarding
beneficiaries which are not organizations described in section
170(c).''.
(c) Effective Dates.--
(1) Subsection (a).--The amendment made by subsection (a)
shall apply to distributions made after August 28, 2005.
(2) Subsection (b).--The amendments made by subsection (b)
shall apply to returns for taxable years beginning after
December 31, 2004.
SEC. 303. CHARITABLE DEDUCTION FOR CONTRIBUTIONS OF FOOD INVENTORIES.
(a) In General.--Subsection (e) of section 170 (relating to certain
contributions of ordinary income and capital gain property) is amended
by adding at the end the following new paragraph:
``(7) Application of paragraph (3) to certain contributions
of food inventory.--For purposes of this section--
``(A) Extension to individuals.--In the case of a
charitable contribution of apparently wholesome food--
``(i) paragraph (3)(A) shall be applied
without regard to whether the contribution is
made by a C corporation, and
``(ii) in the case of a taxpayer other than
a C corporation, the aggregate amount of such
contributions for any taxable year which may be
taken into account under this section shall not
exceed 10 percent of the taxpayer's net income
for such taxable year from all trades or
businesses from which such contributions were
made for such taxable year, computed without
regard to this section.
``(B) Limitation on reduction.--In the case of a
charitable contribution of apparently wholesome food,
notwithstanding paragraph (3)(B), the amount of the
reduction determined under paragraph (1)(A) shall not
exceed the amount by which the fair market value of
such property exceeds twice the basis of such property.
``(C) Determination of basis.--If a taxpayer--
``(i) does not account for inventories
under section 471, and
``(ii) is not required to capitalize
indirect costs under section 263A,
the taxpayer may elect, solely for purposes of
paragraph (3)(B), to treat the basis of any apparently
wholesome food as being equal to 25 percent of the fair
market value of such food.
``(D) Determination of fair market value.--In the
case of a charitable contribution of apparently
wholesome food which is a qualified contribution
(within the meaning of paragraph (3), as modified by
subparagraph (A) of this paragraph) and which, solely
by reason of internal standards of the taxpayer or lack
of market, cannot or will not be sold, the fair market
value of such contribution shall be determined--
``(i) without regard to such internal
standards or such lack of market and
``(ii) by taking into account the price at
which the same or substantially the same food
items (as to both type and quality) are sold by
the taxpayer at the time of the contribution
(or, if not so sold at such time, in the recent
past).
``(E) Apparently wholesome food.--For purposes of
this paragraph, the term `apparently wholesome food'
has the meaning given such term by section 22(b)(2) of
the Bill Emerson Good Samaritan Food Donation Act (42
U.S.C. 1791(b)(2)), as in effect on the date of the
enactment of this paragraph.
``(F) Application.--This paragraph shall apply to
contributions made after August 28, 2005, and before
January 1, 2006.''.
(b) Effective Date.--The amendment made by this section shall apply
to contributions made after August 28, 2005.
SEC. 304. CHARITABLE DEDUCTION FOR CONTRIBUTIONS OF BOOK INVENTORIES.
(a) In General.--Section 170(e)(3) (relating to certain
contributions of ordinary income and capital gain property) is amended
by redesignating subparagraph (C) as subparagraph (D) and by inserting
after subparagraph (B) the following new subparagraph:
``(C) Special rule for contributions of book
inventory for educational purposes.--
``(i) Contributions of book inventory.--In
determining whether a qualified book
contribution is a qualified contribution,
subparagraph (A) shall be applied without
regard to whether--
``(I) the donee is an organization
described in the matter preceding
clause (i) of subparagraph (A), and
``(II) the property is to be used
by the donee solely for the care of the
ill, the needy, or infants.
``(ii) Amount of reduction.--
Notwithstanding subparagraph (B), the amount of
the reduction determined under paragraph (1)(A)
shall not exceed the amount by which the fair
market value of the contributed property (as
determined by the taxpayer using a bona fide
published market price for such book) exceeds
twice the basis of such property.
``(iii) Qualified book contribution.--For
purposes of this paragraph, the term `qualified
book contribution' means a charitable
contribution of books, but only if the
requirements of clauses (iv) and (v) are met.
``(iv) Identity of donee.--The requirement
of this clause is met if the contribution is to
an organization--
``(I) described in subclause (I) or
(III) of paragraph (6)(B)(i), or
``(II) described in section
501(c)(3) and exempt from tax under
section 501(a) (other than a private
foundation, as defined in section
509(a), which is not an operating
foundation, as defined in section
4942(j)(3)), which is organized
primarily to make books available to
the general public at no cost or to
operate a literacy program.
``(v) Certification by donee.--The
requirement of this clause is met if, in
addition to the certifications required by
subparagraph (A) (as modified by this
subparagraph), the donee certifies in writing
that--
``(I) the books are suitable, in
terms of currency, content, and
quantity, for use in the donee's
educational programs, and
``(II) the donee will use the books
in its educational programs.
``(vi) Bona fide published market price.--
For purposes of this subparagraph, the term
`bona fide published market price' means, with
respect to any book, a price--
``(I) determined using the same
printing and edition,
``(II) determined in the usual
market in which such a book has been
customarily sold by the taxpayer, and
``(III) for which the taxpayer can
demonstrate to the satisfaction of the
Secretary that the taxpayer customarily
sold such books in arm's length
transactions within 7 years preceding
the contribution of such a book.
``(vii) Application.--This subparagraph
shall apply to contributions made after August
28, 2005, and before January 1, 2006.''.
(b) Effective Date.--The amendments made by this section shall
apply to contributions made after August 28, 2005.
SEC. 305. ADDITIONAL PERSONAL EXEMPTION AMOUNT FOR HURRICANE KATRINA
HOUSEGUEST.
(a) In General.--In the case of the taxpayer's taxable year
beginning in 2005, the amount allowed as a deduction in computing
taxable income of the taxpayer under section 151 of the Internal
Revenue Code of 1986 shall be increased by the lesser of--
(1) the product of--
(A) $500, and
(B) the number of Hurricane Katrina houseguests of
the taxpayer, or
(2) $2,000.
(b) Hurricane Katrina Houseguest.--For purposes of this section,
the term ``Hurricane Katrina houseguest'' means any individual--
(1) who would not otherwise qualify for an exemption amount
with respect to the taxpayer for the taxable year,
(2) whose principal place of abode in a Hurricane Katrina
disaster area was rendered uninhabitable after August 28, 2005,
and
(3) is provided shelter without remuneration for not less
than 60 days after August 28, 2005, and before January 1, 2006,
by the taxpayer in the taxpayer's principal place of abode.
(c) Limitation.--No deduction shall be allowed under this section
if the taxpayer receives any rent or other amount (from any source) in
connection with the providing of such shelter.
SEC. 306. INCREASE IN STANDARD MILEAGE RATE FOR CHARITABLE USE OF
PASSENGER AUTOMOBILE.
Notwithstanding section 170(i) of the Internal Revenue Code of
1986, for purposes of computing the deduction under section 170 of such
Code for use of a passenger automobile for the period beginning on
August 29, 2005, and ending before January 1, 2006, the standard
mileage rate shall be 50 percent of the standard mileage rate in effect
under section 162(a) of such Code at the time of such use. Any increase
under this section shall be rounded to the next highest cent.
TITLE IV--ADDITIONAL TAX RELIEF PROVISIONS
SEC. 401. EXCLUSIONS OF CERTAIN CANCELLATIONS OF INDEBTEDNESS FOR
VICTIMS OF HURRICANE KATRINA.
(a) In General.--For purposes of the Internal Revenue Code of 1986,
gross income shall not include any amount which (but for this section)
would be includible in gross income by reason of the discharge (in
whole or in part) of indebtedness of a natural person by an applicable
entity (as defined in section 6050P(c)(1)) if the discharge is by
reason of the damage sustained by the taxpayer in connection with
Hurricane Katrina.
(b) Exception.--Subsection (a) shall not apply to any indebtedness
incurred in connection with a trade or business.
(c) Denial of Double Benefit.--The amount excluded from gross
income under subsection (a) shall be applied to reduce the tax
attributes of the taxpayer as provided in section 108(b) of such Code.
(d) Effective Date.--This section shall apply to discharges made on
or after August 29, 2005, and before January 1, 2007.
SEC. 402. MODIFICATION TO CASUALTY LOSS RULES FOR VICTIMS OF HURRICANE
KATRINA.
In the case of an individual with a personal casualty loss which
arises in connection with Hurricane Katrina--
(1) section 165(h)(2)(A) of the Internal Revenue Code of
1986 shall not apply, and
(2) in applying such section to other personal casualty
losses during the taxable year, losses to which this section
applies shall be disregarded.
SEC. 403. REQUIRED EXERCISE OF AUTHORITY UNDER SECTION 7508A FOR TAX
RELIEF FOR VICTIMS OF HURRICANE KATRINA.
(a) Authority Includes Suspension of Payment of Employment and
Excise Taxes.--Subparagraphs (A) and (B) of section 7508(a)(1) are
amended to read as follows:
``(A) Filing any return of income, estate, gift,
employment, or excise tax;
``(B) Payment of any income, estate, gift,
employment, or excise tax or any installment thereof or
of any other liability to the United States in respect
thereof;''.
(b) Application to Victims of Hurricane Katrina.--In the case of
any taxpayer determined by the Secretary of the Treasury to be affected
by the Presidentially declared disaster relating to Hurricane Katrina,
any relief provided by the Secretary of the Treasury under section
7508A of the Internal Revenue Code of 1986 shall be for a period ending
not earlier than February 28, 2006, and shall be treated as applying to
the filing of returns relating to, and the payment of, employment and
excise taxes.
(c) Effective Date.--The amendment made by subsection (a) shall
apply for any period for performing an act which has not expired before
August 29, 2005.
SEC. 404. SPECIAL MORTGAGE FINANCING RULES FOR RESIDENCES LOCATED IN
HURRICANE KATRINA DISASTER AREA.
In the case of a residence located in a Hurricane Katrina disaster
area, section 143 of the Internal Revenue Code of 1986 shall be applied
with the following modifications to financing provided with respect to
such residence within 3 years after the date of the disaster
declaration:
(1) Subsections (d), (e) and (f) of such section 143 shall
be applied as if such residence were a targeted area residence.
(2) Subsection (f)(3) of such section 143 shall be applied
without regard to subparagraph (A) thereof.
(3) The limitation under subsection (k)(4) of such section
143 shall be increased (but not above $150,000) to the extent
the qualified home-improvement loan is for the repair of damage
caused by Hurricane Katrina.
This section shall apply only with respect to bonds issued after August
28, 2005, and before August 29, 2008.
SEC. 405. EXTENSION OF REPLACEMENT PERIOD FOR NONRECOGNITION OF GAIN
FOR PROPERTY LOCATED IN HURRICANE KATRINA DISASTER AREA.
Notwithstanding subsections (g) and (h) of section 1033 of the
Internal Revenue Code of 1986, clause (i) of section 1033(a)(2)(B) of
such Code shall be applied by substituting ``5 years'' for ``2 years''
with respect to property which is compulsorily or involuntarily
converted as a result of Hurricane Katrina in a Hurricane Katrina
disaster area, but only if substantially all of the use of the
replacement property is in such area.
SEC. 406. SPECIAL RULE FOR DETERMINING EARNED INCOME.
(a) In General.--In the case of a qualified individual, if the
earned income of the taxpayer for the taxable year of such taxpayer
which includes August 28, 2005, is less than the earned income which
attributable to the taxpayer for the preceding taxable year, the
credits allowed under sections 24(d) and 32 of the Internal Revenue
Code of 1986 may, at the election of the taxpayer, be determined by
substituting--
(1) such earned income for the preceding taxable year, for
(2) such earned income for the taxable year which includes
August 28, 2005.
(b) Qualified Individual.--For purposes of this section, the term
``qualified individual'' means any individual who was (as of August 28,
2005) a resident of any area which is determined by the President to
warrant individual or individual and public assistance from the Federal
Government under the Robert T. Stafford Disaster Relief and Emergency
Assistance Act by reason of Hurricane Katrina.
(c) Earned Income.--For purposes of this section, the term ``earned
income'' has the meaning given such term under section 32(c) of such
Code.
(d) Special Rules.--
(1) Application to joint returns.--For purpose of
subsection (a), in the case of a joint return for a taxable
year which includes August 28, 2005--
(A) such subsection shall apply if either spouse is
a qualified individual,
(B) the earned income which is attributable to the
taxpayer for the preceding taxable year shall be the
sum of the earned income which is attibutable to each
spouse for such preceding taxable year, and
(C) the substitution described in such subsection
shall apply only with respect to earned income which is
attributable to a spouse who is a qualified individual.
(2) Uniform application of election.--Any election made
under subsection (a) shall apply with respect to both section
24(d) and section 32 of such Code.
(3) Errors treated as mathematical error.--For purposes of
section 6213 of such Code, an incorrect use on a return of
earned income pursuant to subsection (a) shall be treated as a
mathematical or clerical error.
(4) No effect on determination of gross income.--For
purposes of the Internal Revenue Code of 1986, gross income
shall be determined without regard to any substitution under
subsection (a).
SEC. 407. SECRETARIAL AUTHORITY TO MAKE ADJUSTMENTS REGARDING TAXPAYER
AND DEPENDENCY STATUS.
With respect to taxable years beginning in 2005 or 2006, the
Secretary of the Treasury or the Secretary's delegate may make such
adjustments in the application of the internal revenue laws as may be
necessary to ensure that taxpayers do not lose any deduction or credit
or experience a change of filing status by reason of temporary
relocations after Hurricane Katrina or by reason of the receipt of
hurricane relief. Any adjustments made under the preceding sentence
shall ensure that an individual is not taken into account by more than
one taxpayer with respect to the same tax benefit.
TITLE V--ADDITIONAL PROVISIONS
SEC. 501. DISCLOSURE TO STATE OFFICIALS OF PROPOSED ACTIONS RELATED TO
EXEMPT ORGANIZATIONS.
(a) In General.--Subsection (c) of section 6104 is amended by
striking paragraph (2) and inserting the following new paragraphs:
``(2) Disclosure of proposed actions related to charitable
organizations.--
``(A) Specific notifications.--In the case of an
organization to which paragraph (1) applies, the
Secretary may disclose to the appropriate State
officer--
``(i) a notice of proposed refusal to
recognize such organization as an organization
described in section 501(c)(3) or a notice of
proposed revocation of such organization's
recognition as an organization exempt from
taxation,
``(ii) the issuance of a letter of proposed
deficiency of tax imposed under section 507 or
chapter 41 or 42, and
``(iii) the names, addresses, and taxpayer
identification numbers of organizations which
have applied for recognition as organizations
described in section 501(c)(3).
``(B) Additional disclosures.--Returns and return
information of organizations with respect to which
information is disclosed under subparagraph (A) may be
made available for inspection by or disclosed to an
appropriate State officer.
``(C) Procedures for disclosure.--Information may
be inspected or disclosed under subparagraph (A) or (B)
only--
``(i) upon written request by an
appropriate State officer, and
``(ii) for the purpose of, and only to the
extent necessary in, the administration of
State laws regulating such organizations.
Such information may only be inspected by or disclosed
to a person other than the appropriate State officer if
such person is an officer or employee of the State and
is designated by the appropriate State officer to
receive the returns or return information under this
paragraph on behalf of the appropriate State officer.
``(D) Disclosures other than by request.--The
Secretary may make available for inspection or disclose
returns and return information of an organization to
which paragraph (1) applies to an appropriate State
officer of any State if the Secretary determines that
such inspection or disclosure may facilitate the
resolution of Federal or State issues relating to the
tax-exempt status of such organization.
``(3) Disclosure with respect to certain other exempt
organizations.--Upon written request by an appropriate State
officer, the Secretary may make available for inspection or
disclosure returns and return information of an organization
described in paragraph (2), (4), (6), (7), (8), (10), or (13)
of section 501(c) for the purpose of, and to the extent
necessary in, the administration of State laws regulating the
solicitation or administration of the charitable funds or
charitable assets of such organizations. Such information may
only be inspected by or disclosed to a person other than the
appropriate State officer if such person is an officer or
employee of the State and is designated by the appropriate
State officer to receive the returns or return information
under this paragraph on behalf of the appropriate State
officer.
``(4) Use in civil judicial and administrative
proceedings.--Returns and return information disclosed pursuant
to this subsection may be disclosed in civil administrative and
civil judicial proceedings pertaining to the enforcement of
State laws regulating such organizations in a manner prescribed
by the Secretary similar to that for tax administration
proceedings under section 6103(h)(4).
``(5) No disclosure if impairment.--Returns and return
information shall not be disclosed under this subsection, or in
any proceeding described in paragraph (4), to the extent that
the Secretary determines that such disclosure would seriously
impair Federal tax administration.
``(6) Definitions.--For purposes of this subsection--
``(A) Return and return information.--The terms
`return' and `return information' have the respective
meanings given to such terms by section 6103(b).
``(B) Appropriate state officer.--The term
`appropriate State officer' means--
``(i) the State attorney general,
``(ii) the State tax officer,
``(iii) in the case of an organization to
which paragraph (1) applies, any other State
official charged with overseeing organizations
of the type described in section 501(c)(3), and
``(iv) in the case of an organization to
which paragraph (3) applies, the head of an
agency designated by the State attorney general
as having primary responsibility for overseeing
the solicitation of funds for charitable
purposes.''.
(b) Conforming Amendments.--
(1) Subparagraph (A) of section 6103(p)(3) is amended by
inserting ``and section 6104(c)'' after ``section'' in the
first sentence.
(2) Paragraph (4) of section 6103(p) is amended--
(A) in the matter preceding subparagraph (A), by
inserting ``, or any appropriate State officer (as
defined in section 6104(c)),'' before ``or any other
person'',
(B) in subparagraph (F)(i), by inserting ``or any
appropriate State officer (as defined in section
6104(c)),'' before ``or any other person'', and
(C) in the matter following subparagraph (F), by
inserting ``, an appropriate State officer (as defined
in section 6104(c)),'' after ``including an agency''
each place it appears.
(3) The heading for paragraph (1) of section 6104(c) is
amended by inserting ``for charitable organizations'' after
``rule''.
(4) Paragraph (2) of section 7213(a) is amended by
inserting ``or under section 6104(c)'' after ``6103''.
(5) Paragraph (2) of section 7213A(a) is amended by
inserting ``or 6104(c)'' after ``6103''.
(6) Paragraph (2) of section 7431(a) is amended by
inserting ``(including any disclosure in violation of section
6104(c))'' after ``6103''.
(c) Effective Date.--The amendments made by this section shall take
effect on the date of the enactment of this Act but shall not apply to
requests made before such date.
SEC. 502. DEDICATION AND USE OF CERTAIN FEES.
Notwithstanding section 202(c) of Public Law 108-89, the Secretary
of the Treasury may retain and use fees from employee plan and exempt
organization letter rulings and determination letters charged under
section 7528 of the Internal Revenue Code of 1986--
(1) in fiscal years 2005 and 2006--
(A) for the administration of the provisions of,
and amendments made by, this Act,
(B) to provide taxpayer assistance to any taxpayer
determined by the Secretary of the Treasury to be
affected by the Presidentially declared disaster
relating to Hurricane Katrina, and
(C) to aid the Internal Revenue Service in
repairing, rebuilding, and recovering from the damage
to Internal Revenue Service offices, equipment, and
support caused by Hurricane Katrina, and
(2) in any fiscal year after 2006--
(A) on oversight, enforcement, and administration
by the Tax-Exempt and Government Entities Division of
the Internal Revenue Service, and
(B) on oversight, enforcement, and administration
of section 170 of such Code.
Calendar No. 212
109th CONGRESS
1st Session
S. 1696
_______________________________________________________________________
A BILL
To provide tax relief for the victims of Hurricane Katrina, to provide
incentives for charitable giving, and for other purposes.
_______________________________________________________________________
September 15, 2005
Committee discharged; amended and ordered to be placed on the calendar