[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[H.R. 968 Introduced in House (IH)]







107th CONGRESS
  1st Session
                                H. R. 968

 To amend the Internal Revenue Code of 1986 to allow as a deduction in 
    determining adjusted gross income the deduction for expenses in 
  connection with services as a member of a reserve component of the 
                   Armed Forces of the United States.


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                    IN THE HOUSE OF REPRESENTATIVES

                             March 8, 2001

   Mr. Ramstad (for himself, Mr. Tanner, Mr. Houghton, Mr. Lewis of 
   Kentucky, Mr. Buyer, Mr. Taylor of Mississippi, Mr. Watkins, Mr. 
  Simmons, and Mr. Cooksey) 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 as a deduction in 
    determining adjusted gross income the deduction for expenses in 
  connection with services as a member of a reserve component of the 
                   Armed Forces of the United States.

    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 ``Reservists Tax Relief Act of 2001''.

SEC. 2. DEDUCTION OF CERTAIN EXPENSES OF RESERVISTS.

    (a) In General.--Section 62(a)(2) of the Internal Revenue Code of 
1986 (relating to certain trade and business deductions of employees) 
is amended by adding at the end the following new subparagraph:
                    ``(D) Certain expenses of members of reserve 
                components of the armed forces of the united states.--
                The deductions allowed by section 162 which consist of 
                expenses paid or incurred by the taxpayer in connection 
                with the performance of services by such taxpayer as a 
                member of a reserve component of the Armed Forces of 
                the United States.''.
    (b) Effective Date.--The amendment made by this section shall apply 
to amounts paid or incurred in taxable years beginning after December 
31, 2001.
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