[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[H.R. 925 Introduced in House (IH)]







107th CONGRESS
  1st Session
                                H. R. 925

To amend the Internal Revenue Code of 1986 to exclude from gross income 
 the value of certain real property tax reduction vouchers received by 
 senior citizens who provide volunteer services under a State program.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 7, 2001

 Mr. Neal of Massachusetts (for himself, Mr. Moakley, Mr. Tierney, Mr. 
   Frank, Mr. McGovern, Mr. Capuano, and Mr. Markey) 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 exclude from gross income 
 the value of certain real property tax reduction vouchers received by 
 senior citizens who provide volunteer services under a State program.

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

SECTION 1. EXCLUSION FROM GROSS INCOME FOR CERTAIN REAL PROPERTY TAX 
              REDUCTION VOUCHERS RECEIVED BY SENIOR CITIZENS WHO 
              PROVIDE VOLUNTEER SERVICES UNDER A STATE PROGRAM.

    (a) In General.--Part III of subchapter B of chapter 1 of the 
Internal Revenue Code of 1986 (relating to items specifically excluded 
from gross income) is amended by redesignating section 139 as section 
139A and by inserting after section 138 the following new section:

``SEC. 139. REAL PROPERTY TAX REDUCTION VOUCHERS RECEIVED BY SENIOR 
              CITIZENS WHO PROVIDE VOLUNTEER SERVICES UNDER A STATE 
              PROGRAM.

    ``(a) Exclusion.--In the case of an individual who has attained age 
65, gross income shall not include the value of any real property tax 
reduction voucher received during the taxable year for services 
performed by such individual.
    ``(b) Maximum Exclusion.--The amount excluded from gross income 
under subsection (a) for the taxable year by each individual receiving 
a real property tax reduction voucher shall not exceed $500.
    ``(c) Real Property Tax Reduction Voucher.--For purposes of this 
section, the term `real property tax reduction voucher' means any 
voucher--
            ``(1) which is issued by a governmental unit as part of a 
        program under which individuals who have attained age 65 
        perform volunteer services for the benefit of such governmental 
        unit in exchange for such voucher, and
            ``(2) which may be used by such individuals only toward 
        satisfying their liability for real property taxes imposed by 
        such governmental unit.
    ``(d) Denial of Double Benefit.--No deduction shall be allowed 
under this chapter for any real property tax paid using any real 
property tax reduction voucher to the extent that the amount of such 
voucher is excluded from gross income under this section.''
    (b) Exemption From Employment Taxes.--
            (1) Social security taxes.--
                    (A) Paragraph (20) of section 3121(a) of such Code 
                is amended by striking ``or 132'' and inserting ``132, 
                or 139''.
                    (B) Paragraph (17) of section 209(a) of the Social 
                Security Act is amended by striking ``or 132'' and 
                inserting ``132, or 139''.
            (2) Unemployment compensation tax.--Paragraph (16) of 
        section 3306(b) of such Code is amended by striking ``or 132'' 
        and inserting ``132, or 139''.
            (3) Wage withholding.--Paragraph (19) of section 3401(a) of 
        such Code is amended by striking ``or 132'' and inserting 
        ``132, or 139''.
    (c) Clerical Amendment.--The table of sections for part III of 
subchapter B of chapter 1 of such Code is amended by striking the last 
item and inserting the following new items:

                              ``Sec. 139. Real property tax reduction 
                                        vouchers received by senior 
                                        citizens who provide volunteer 
                                        services under a State program.
                              ``Sec. 139A. Cross references to other 
                                        Acts.''
    (d) Effective Dates.--
            (1) In general.--Except as provided in paragraph (2), the 
        amendments made by this section shall apply to taxable years 
        beginning after December 31, 2001.
            (2) Employment taxes.--The amendments made by subsection 
        (b) shall apply to remuneration paid after December 31, 2001.
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