[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2841 Introduced in House (IH)]

103d CONGRESS
  1st Session
                                H. R. 2841

To amend the Internal Revenue Code of 1986 to defer recognition of gain 
  on the sale or exchange of livestock on account of a Presidentially 
                           declared disaster.


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                    IN THE HOUSE OF REPRESENTATIVES

                             August 3, 1993

Mr. Johnson of South Dakota (for himself and Mr. Minge) 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 defer recognition of gain 
  on the sale or exchange of livestock on account of a Presidentially 
                           declared disaster.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. DEFERRAL OF GAIN ON SALES AND EXCHANGES OF LIVESTOCK ON 
              ACCOUNT OF PRESIDENTIALLY DECLARED DISASTERS.

    (a) In General.--Subsection (e) of section 1033 of the Internal 
Revenue Code of 1986 (relating to livestock sold on account of drought) 
is amended--
            (1) by inserting before the period ``or any disaster 
        resulting in a determination by the President that an area 
        warrants assistance from the Federal Government under the 
        Robert T. Stafford Disaster Relief and Emergency Assistance 
        Act'', and
            (2) by inserting ``or Presidentially declared Disasters'' 
        after ``Drought'' in the heading.
    (b) Effective Date.--The amendment made by subsection (a) shall 
apply to disasters declared after December 31, 1992.

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