H.R. 3976

To amend the Internal Revenue Code of 1986 to make permanent the deduction for contributions of food inventory by all corporations.

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I

110th CONGRESS

1st Session

H. R. 3976

IN THE HOUSE OF REPRESENTATIVES

October 25, 2007

Mr. Levin (for himself, Mr. McDermott, Mr. Ramstad, and Mr. Crowley) introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to make permanent the deduction for contributions of food inventory by all corporations.

1.

Deduction for contributions of food inventory by all corporations made permanent

(a)

In general

Subparagraph (C) of section 170(e)(3) of the Internal Revenue Code of 1986 (relating to special rule for certain contributions of inventory and other property) is amended by striking clause (iv).

(b)

Effective date

The amendment made by subsection (a) shall apply to made after December 31, 2007.