[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3979 Introduced in House (IH)]







104th CONGRESS
  2d Session
                                H. R. 3979

To amend the Internal Revenue Code of 1986 to allow a refundable credit 
             for the contribution of books to any library.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             August 2, 1996

   Mr. Fox of Pennsylvania 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 allow a refundable credit 
             for the contribution of books to any library.

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

SECTION 1. REFUNDABLE CREDIT FOR CONTRIBUTIONS OF BOOKS AND EQUIPMENT 
              TO LIBRARIES.

    (a) In General.--Subpart C of part IV of subchapter A of chapter 1 
of the Internal Revenue Code of 1986 (relating to refundable credits) 
is amended by redesignating section 35 as section 36 and by inserting 
after section 34 the following new section:

``SEC. 35. CREDIT FOR CONTRIBUTIONS OF BOOKS OR EQUIPMENT TO LIBRARIES.

    ``In the case of an individual, there shall be allowed as a credit 
against the tax imposed by this subtitle an amount equal to the value 
of any book or equipment contributed to a library.''
    (b) Clerical Amendment.--The table of sections for such subpart C 
is amended by striking the last item and inserting the following new 
items:

                              ``Sec. 35. Credit for contribution of 
                                        books or equipment to 
                                        libraries.
                              ``Sec. 36. Overpayments of tax.''
    (c) Effective Date.--The amendments made by this section shall 
apply to contributions after the date of the enactment of this Act in 
taxable years ending after such date.
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