[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5704 Introduced in House (IH)]







107th CONGRESS
  2d Session
                                H. R. 5704

To provide that Community Development Block Grant funds relating to the 
   recovery of New York City from the September 11, 2001, terrorist 
           attacks shall not be subject to Federal taxation.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            November 4, 2002

Mr. Nadler (for himself, Ms. Norton, Mr. Serrano, Mrs. McCarthy of New 
 York, Mr. Meeks of New York, and Mr. Owens) introduced the following 
      bill; which was referred to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
To provide that Community Development Block Grant funds relating to the 
   recovery of New York City from the September 11, 2001, terrorist 
           attacks shall not be subject to Federal taxation.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``September 11th Aid Preservation Act 
of 2002''.

SEC. 2. EXCLUSION FROM FEDERAL TAXATION FOR CERTAIN COMMUNITY 
              DEVELOPMENT BLOCK GRANT FUNDS RECEIVED IN RELATION TO THE 
              RECOVERY OF NEW YORK CITY AFTER THE SEPTEMBER 11, 2001, 
              TERRORIST ATTACK.

    (a) In General.--No amount shall be includible in gross income 
under the Internal Revenue Code of 1986 which is paid from community 
development block grant funds described in subsection (b) to any person 
for assistance for properties or businesses damaged by, or for economic 
revitalization related to, the September 11, 2001, terrorist attacks on 
New York City.
    (b) Funds.--The funds described in this subsection are--
            (1) amounts appropriated by Public Law 107-38 and 
        designated by the President for community development block 
        grant purposes,
            (2) amounts appropriated by Public Law 107-117 for the 
        Community Development Fund under the heading ``DEPARTMENT OF 
        HOUSING AND URBAN DEVELOPMENT, Community Planning and 
        Development, community development fund'', and
            (3) amounts appropriated by Public Law 107-206 for the 
        Community Development Fund under the heading ``DEPARTMENT OF 
        HOUSING AND URBAN DEVELOPMENT, Community Planning and 
        Development, community development fund''.
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