S. 326Senate110th Congress (2007-2009)In Committee

Disabled Veterans Tax Fairness Act of 2007

Introduced January 17, 2007

Legislative Activity

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SenateIntro Referral Latest Action

Read twice and referred to the Committee on Finance.

January 17, 2007

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SenateIntro Referral

Introduced in Senate

January 17, 2007

SenateIntro Referral

Sponsor introductory remarks on measure. (CR S702)

January 17, 2007

SenateIntro Referral

Read twice and referred to the Committee on Finance.

January 17, 2007

Floor Debate

13 members

What members said about S. 326 on the floor

4 Republicans9 Democrats
Daniel K. Akaka
Sen. Daniel K. AkakaD-HI · Jan 17, 2007

Mr. President, I rise today with the senior Senator from Hawaii to introduce the Native Hawaiian Government Reorganization Act of 2007. This bill, which is of great importance to the people of…

Jeff Bingaman
Sen. Jeff BingamanD-NM · Jan 17, 2007

Mr. President, I rise today to introduce bipartisan legislation with Senator Voinovich entitled the ``Health Partnership Act of 2007,'' which along with a companion House bill introduced by…

Dianne Feinstein
Sen. Dianne FeinsteinD-CA · Jan 17, 2007

Mr. President, I am pleased to join with Senator Carper to introduce the Electric Utility Cap and Trade Act. Today, we are introducing the first of five bills to address the number one environmental…

Pete V. Domenici
Sen. Pete V. DomeniciR-NM · Jan 17, 2007

Mr. President, above-average rainfall in New Mexico last summer and recent snow fall have led many to turn a blind eye to the grim water situation faced by our State only months ago. New Mexico was…

George V. Voinovich
Sen. George V. VoinovichR-OH · Jan 17, 2007

Mr. President, I rise to speak about a bill my colleague Senator Bingaman and I introduced today, the Health Care Partnership Act. For too many years, I have listened to my colleagues on both sides…

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Daniel K. Inouye
Sen. Daniel K. InouyeD-HI · Jan 17, 2007

Mr. President, I am pleased to join my colleague, Senator Akaka, as a cosponsor of the Native Hawaiian Government Reorganization Act of 2007. During the 109th Congress, the Administration expressed…

Byron L. Dorgan
Sen. Byron L. DorganD-ND · Jan 17, 2007

Mr. President, I rise today to re-introduce legislation which would provide a first important step in dealing with the crisis of youth suicide in Indian Country. The legislation I am introducing…

Patrick J. Leahy
Sen. Patrick J. LeahyD-VT · Jan 17, 2007

Mr. President, I am pleased to join Senators Kohl, Feingold, Grassley and Schumer in introducing the Preserve Access to Affordable Generics Act of 2007. This legislation is a continuation of a…

Herb Kohl
Sen. Herb KohlD-WI · Jan 17, 2007

Mr. President, I rise today to introduce the Preserve Access to Affordable Generics Act. This legislation will stop one of the most egregious tactics used by the brand-name pharmaceutical industry to…

Blanche L. Lincoln
Sen. Blanche L. LincolnD-AR · Jan 17, 2007

Mr. President, I rise today with my colleague, Senator Craig Thomas, to introduce the Disabled Veterans Tax Fairness Act of 2007. This much-needed legislation would protect disabled veterans from…

Blanche L. Lincoln
Sen. Blanche L. LincolnD-AR · Jan 17, 2007

Mr. President, I rise today with my colleague, Senator Craig Thomas, to introduce the Disabled Veterans Tax Fairness Act of 2007. This much-needed legislation would protect disabled veterans from…

John Warner
Sen. John WarnerR-VA · Jan 17, 2007

Mr. President, I rise today to reintroduce the Minority Serving Institution Digital and Wireless Technology Opportunity Act. This legislation, which was crafted by Senator Allen and I in years past,…

John McCain
Sen. John McCainR-AZ · Jan 17, 2007

Mr. President, I am pleased to be joined today by Senator Salazar in reintroducing the Cesar Estrada Chavez Study Act. A similar version of this bill was introduced by Congresswoman Hilda Solis last…

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Barbara Boxer
Sen. Barbara BoxerD-CA · Jan 17, 2007

Mr. President, I rise to discuss liquified natural gas projects in California. As of August of last year, there are five potential liquified natural gas projects in California. The projects include…

Bill Text

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Introduced in SenateIssued January 17, 2007

II

110th CONGRESS

1st Session

S. 326

IN THE SENATE OF THE UNITED STATES

January 17, 2007

Mrs. Lincoln (for herself, Mr. Thomas, Mr. Bingaman, Mr. Durbin, Ms. Mikulski, Mr. Akaka, Mr. Pryor, Ms. Klobuchar, Mr. Enzi, Mr. Harkin, Mr. Rockefeller, and Mr. Kerry) introduced the following bill; which was read twice and referred to the Committee on Finance

A BILL

To amend the Internal Revenue Code of 1986 to provide a special period of limitation when uniformed services retirement pay is reduced as result of award of disability compensation.

1.

Short title

This Act may be cited as the Disabled Veterans Tax Fairness Act of 2007.

2.

Special period of limitation when uniformed services retired pay is reduced as a result of award of disability compensation

(a)

In general

Subsection (d) of section 6511 (relating to special rules applicable to income taxes) is amended by adding at the end the following new paragraph:

(8)

Special rules when uniformed services retired pay is reduced as a result of award of disability compensation

(A)

Period of limitation on filing claim

If the claim for credit or refund relates to an overpayment of tax imposed by subtitle A on account of—

(i)

the reduction of uniformed services retired pay computed under section 1406 or 1407 of title 10, United States Code, or

(ii)

the waiver of such pay under section 5305 of title 38 of such Code,

as a result of an award of compensation under title 38 of such Code pursuant to a determination by the Secretary of Veterans Affairs, the 3-year period of limitation prescribed in subsection (a) shall be extended, for purposes of permitting a credit or refund based upon the amount of such reduction or waiver, until the end of the 1-year period beginning on the date of such determination.
(B)

Limitation to 5 taxable years

Subparagraph (A) shall not apply with respect to any taxable year which began more than 5 years before the date of such determination.

.

(b)

Effective date

The amendment made by subsection (a) shall apply to claims for credit or refund filed after the date of the enactment of this Act.

(c)

Transition rules

In the case of a determination described in paragraph (8) of section 6511(d) of the Internal Revenue Code of 1986 (as added by this section) which is made by the Secretary of Veterans Affairs after December 31, 2000, and before the date of the enactment of this Act, such paragraph—

(1)

shall not apply with respect to any taxable year which began before January 1, 2001, and

(2)

shall be applied by substituting the date of the enactment of the Disabled Veterans Tax Fairness Act of 2007 for the date of such determination in subparagraph (A) thereof.