S. 2331

A bill to exclude from gross income payments from the Hokie Spirit Memorial Fund to the victims of the tragic event, loss of life and limb, at Virginia Polytechnic Institute & State University.

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II

110th CONGRESS

1st Session

S. 2331

IN THE SENATE OF THE UNITED STATES

November 8, 2007

Mr. Warner (for himself and Mr. Webb) introduced the following bill; which was read twice and referred to the Committee on Finance

A BILL

To exclude from gross income payments from the Hokie Spirit Memorial Fund to the victims of the tragic event, loss of life and limb, at Virginia Polytechnic Institute & State University.

1.

Exclusion from income for payments from the Hokie Spirit Memorial Fund

For purposes of the Internal Revenue Code of 1986, gross income shall not include any amount received from the Virginia Polytechnic Institute & State University, out of amounts transferred from the Hokie Spirit Memorial Fund established by the Virginia Tech Foundation, an organization organized and operated as described in section 501(c)(3) of the Internal Revenue Code of 1986, as a payment in connection with the tragic event, loss of life and limb, on April 16, 2007, at such university.