[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1095 Introduced in House (IH)]






109th CONGRESS
  1st Session
                                H. R. 1095

 To amend the Internal Revenue Code of 1986 to establish and provide a 
    checkoff for a World Trade Center Memorial Fund, and for other 
                               purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 3, 2005

  Mr. Fossella (for himself, Mr. King of New York, Mr. Fortuno, Mrs. 
 McCarthy, Ms. Harman, Mr. Weiner, Mr. Saxton, Mr. Davis of Illinois, 
  Mr. Menendez, Mr. Bishop of New York, Mr. Engel, Mr. Shays, and Mr. 
  Ackerman) introduced the following bill; which was referred to the 
   Committee on Ways and Means, and in addition to the Committee on 
 Resources, for a period to be subsequently determined by the Speaker, 
 in each case for consideration of such provisions as fall within the 
                jurisdiction of the committee concerned

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to establish and provide a 
    checkoff for a World Trade Center Memorial Fund, and for other 
                               purposes.

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

SECTION 1. DESIGNATION OF INCOME TAX PAYMENTS TO WORLD TRADE CENTER 
              MEMORIAL FUND.

    (a) In General.--Subchapter A of chapter 61 of the Internal Revenue 
Code of 1986 (relating to information and returns) is amended by adding 
at the end the following new part:

  ``PART IX--DESIGNATION OF INCOME TAX PAYMENTS TO WORLD TRADE CENTER 
                             MEMORIAL FUND

``Sec. 6098. Designation to World Trade Center Memorial Fund.

``SEC. 6098. DESIGNATION TO WORLD TRADE CENTER MEMORIAL FUND.

    ``(a) In General.--Every individual (other than a nonresident 
alien) whose adjusted income tax liability for the taxable year is $1 
or more may designate that $1 shall be paid over to the World Trade 
Center Memorial Fund in accordance with the provisions of section 9511. 
In the case of a joint return of husband and wife having an adjusted 
income tax liability of $2 or more, each spouse may designate that $1 
shall be paid to the fund.
    ``(b) Adjusted Income Tax Liability.--For purposes of subsection 
(a), the term `adjusted income tax liability' means, for any individual 
for any taxable year, the excess (if any) of--
            ``(1) the income tax liability (as defined in section 
        6096(b)) of the individual for the taxable year, over
            ``(2) any amount designated by the individual (and, in the 
        case of a joint return, any amount designated by the 
        individual's spouse) under section 6096(a) for such taxable 
        year.
    ``(c) Manner and Time of Designation.--A designation under 
subsection (a) may be made with respect to any taxable year--
            ``(1) at the time of filing the return of the tax imposed 
        by chapter 1 for such taxable year, or
            ``(2) at any other time (after the time of filing the 
        return of the tax imposed by chapter 1 for such taxable year) 
        specified in regulations prescribed by the Secretary.
Such designation shall be made in such manner as the Secretary 
prescribes by regulations except that, if such designation is made at 
the time of filing the return of the tax imposed by chapter 1 for such 
taxable year, such designation shall be made either on the first page 
of the return or on the page bearing the taxpayer's signature.
    ``(d) Termination.--This section shall not apply with respect to 
any taxable year ending after the date on which the Secretary of the 
Treasury determines that amounts in the World Trade Center Memorial 
Fund equal or exceed the amounts which are reasonably expected to be 
distributed from such Fund to the World Trade Center Memorial 
Foundation under section 9511.''.
    (b) World Trade Center Memorial Fund.--Subchapter A of chapter 98 
of such Code (relating to establishment of trust funds) is amended by 
adding at the end the following new section:

``SEC. 9511. WORLD TRADE CENTER MEMORIAL FUND.

    ``(a) Creation of Trust Fund.--There is established in the Treasury 
of the United States a trust fund to be known as the `World Trade 
Center Memorial Fund', consisting of such amounts as may be 
appropriated or credited to such fund as provided in this section or 
section 9602(b).
    ``(b) Transfers to Trust Fund.--There are hereby appropriated to 
the World Trade Center Memorial Fund amounts equivalent to the amounts 
designated under section 6098.
    ``(c) Expenditures.--Amounts in the World Trade Center Memorial 
Fund shall be available to the Secretary of the Treasury, as provided 
in appropriation Acts, for the purpose of making grants to the World 
Trade Center Memorial Foundation (a nonprofit organization incorporated 
under the laws of the State of New York) for the construction of a 
memorial at the former site of the World Trade Center in New York.
    ``(d) Excess Amounts Transferred to General Fund.--Upon the 
determination of the Secretary of the Treasury that the memorial 
described in subsection (c) has been completed, the Secretary of the 
Treasury shall transfer any amounts remaining in the World Trade Center 
Memorial Fund to the general fund of the Treasury.''.
    (c) Clerical Amendments.--
            (1) The table of parts for subchapter A of chapter 61 of 
        such Code is amended by adding at the end the following new 
        item:

  ``Part IX. Designation of Income Tax Payments to World Trade Center 
                            Memorial Fund''.

            (2) The table of sections for subchapter A of chapter 98 of 
        such Code is amended by adding at the end the following new 
        item:

``Sec. 9511. World Trade Center Memorial Fund.''.
    (d) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after the date of the enactment of 
this Act.
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