[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2140 Introduced in House (IH)]







108th CONGRESS
  1st Session
                                H. R. 2140

To amend the Internal Revenue Code of 1986 to exclude from gross income 
amounts received as damages (including punitive damages) on account of 
                          age discrimination.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 15, 2003

   Mr. Paul 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 
amounts received as damages (including punitive damages) on account of 
                          age discrimination.

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

SECTION 1. EXCLUSION FOR AMOUNTS RECEIVED AS DAMAGES (INCLUDING 
              PUNITIVE DAMAGES) ON ACCOUNT OF AGE DISCRIMINATION.

    (a) In General.--Subsection (a) of section 104 of the Internal 
Revenue Code of 1986 (relating to compensation for injuries or 
sickness) is amended by striking ``and'' at the end of paragraph (4), 
by striking the period at the end of paragraph (5) and inserting ``; 
and'', and by inserting after paragraph (5) the following new 
paragraph:
            ``(6) the amount of any damages (including punitive 
        damages) received (whether by suit or agreement and whether as 
        lump sums or as periodic payments) on account of age 
        discrimination.''
    (b) Effective Date.--The amendment made by subsection (a) shall 
apply to amounts received after the date of the enactment of this Act.
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