[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[S. 2549 Introduced in Senate (IS)]







105th CONGRESS
  2d Session
                                S. 2549

   To provide that no Federal income tax shall be imposed on amounts 
                     received by Holocaust victims.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

              October 5 (legislative day, October 2), 1998

  Mr. D'Amato introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
   To provide that no Federal income tax shall be imposed on amounts 
                     received by Holocaust victims.

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

SECTION 1. NO TAX ON AMOUNTS RECEIVED BY HOLOCAUST VICTIMS.

    (a) In General.--For purposes of the Internal Revenue Code of 1986, 
gross income shall not include any amount received by an individual 
from any person as a result of a settlement or adjudication in the 
individual's favor arising out of any moral or legal injustice 
experienced by the individual as a Holocaust victim, including any 
amount received from the Swiss Humanitarian Fund established by the 
Government of Switzerland.
    (b) Effective Date.--This section shall apply to amounts received 
in taxable years beginning before, on, or after the date of the 
enactment of this Act.
                                 <all>