[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[H.R. 954 Introduced in House (IH)]







106th CONGRESS
  1st Session
                                H. R. 954

 To amend the Internal Revenue Code of 1986 to allow a credit against 
 income tax for expenses incurred by taxpayers in transporting food to 
                              food banks.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 3, 1999

 Mr. Campbell 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 credit against 
 income tax for expenses incurred by taxpayers in transporting food to 
                              food banks.

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

SECTION 1. CREDIT FOR TRANSPORTING FOOD TO FOOD BANKS.

    (a) In General.--Subpart B of part IV of subchapter A of chapter 1 
of the Internal Revenue Code of 1986 is amended by inserting after 
section 30A the following new section:

``SEC. 30B. CREDIT FOR TRANSPORTING FOOD TO FOOD BANKS.

    ``(a) Allowance of Credit.--There shall be allowed as a credit 
against the tax imposed by this chapter for the taxable year an amount 
equal to the amount which would (but for subsection (c)) be allowed as 
a deduction under section 170 (relating to charitable, etc., 
contributions and gifts) to the taxpayer for transporting food to a 
food bank.
    ``(b) Limitation Based on Amount of Tax.--
            ``(1) Liability for tax.--The credit allowable under 
        subsection (a) for any taxable year shall not exceed the excess 
        (if any) of--
                    ``(A) the regular tax for the taxable year, reduced 
                by the sum of the credits allowable under subpart A and 
                the preceding sections of this subpart, over
                    ``(B) the tentative minimum tax for the taxable 
                year.
            ``(2) Carryforward of unused credit.--If the amount of the 
        credit allowable under subsection (a) for any taxable year 
        exceeds the limitation under paragraph (1) for the taxable 
        year, the excess shall be carried to the succeeding taxable 
        year and added to the amount allowable as a credit under 
        subsection (a) for such succeeding taxable year.
    ``(c) Denial of Double Benefit.--No deduction shall be allowed 
under section 170 for any amount for which a credit is allowed under 
this section.''.
    (b) Clerical Amendment.--The table of sections for subpart B of 
part IV of subchapter A of chapter 1 of such Code is amended by 
inserting after the item relating to section 30A the following new 
item:

                              ``Sec. 30B. Credit for transporting food 
                                        to food banks.''
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 1999.
    (d) Revenue Offset.--
            (1) Modification of rates of corporate tax.--The Secretary 
        of the Treasury shall prescribe rates of tax under section 11 
        of the Internal Revenue Code of 1986 (relating to tax imposed 
        on corporations) which result in a net increase in revenues for 
        a taxable year equal to the net decrease in revenues for that 
        year as a result of the amendment made by subsection (a).
            (2) Estimates and subsequent adjustments.--The rates of tax 
        prescribed under paragraph (1) shall be determined on the basis 
        of estimates made by the Secretary of the Treasury. Adjustments 
        shall be made in such rates for succeeding taxable years to the 
        extent prior estimates resulted in revenues which were in 
        excess of or less than the revenues required under paragraph 
        (1).
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