[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2941 Introduced in House (IH)]

103d CONGRESS
  1st Session
                                H. R. 2941

To amend the Internal Revenue Code of 1986 to provide that the special 
  rules applicable to livestock sold on account of drought will also 
   apply in the case of other natural disasters including excessive 
                               moisture.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             August 6, 1993

 Mr. Glickman 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 provide that the special 
  rules applicable to livestock sold on account of drought will also 
   apply in the case of other natural disasters including excessive 
                               moisture.

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

SECTION 1. TREATMENT OF LIVESTOCK SOLD ON ACCOUNT OF EXCESSIVE 
              MOISTURE.

    (a) General Rule.--Paragraph (1) of section 451(e) of the Internal 
Revenue Code of 1986 is amended--
            (1) by striking ``for drought conditions'' and inserting 
        ``for drought conditions or another natural disaster (including 
        excessive moisture)'', and
            (2) by striking ``these drought conditions'' and inserting 
        ``such drought conditions or disaster''.
    (b) Clerical Amendment.--The subsection heading for subsection (e) 
of section 451 of such Code is amended by striking ``Drought'' and 
inserting ``Drought or Other Natural Disasters''.
    (c) Effective Date.--The amendments made by this section shall 
apply to sales or exchanges occurring after December 31, 1992.

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