[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2196 Introduced in House (IH)]






109th CONGRESS
  1st Session
                                H. R. 2196

To provide that Federal funds for the relief and revitalization of New 
 York City after the September 11, 2001, terrorist attack shall not be 
                      subject to Federal taxation.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 5, 2005

Mrs. Maloney (for herself, Mr. Rangel, Mr. Hinchey, and Mrs. McCarthy) 
 introduced the following bill; which was referred to the Committee on 
                             Ways and Means

_______________________________________________________________________

                                 A BILL


 
To provide that Federal funds for the relief and revitalization of New 
 York City after the September 11, 2001, terrorist attack 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 Assistance 
Clarification Act''.

SEC. 2. EXCLUSION FROM FEDERAL TAXATION FOR CERTAIN AMOUNTS RECEIVED 
              FOR THE RELIEF AND REVITALIZATION 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 funds 
referred to in subsection (b)) to any person as assistance on account 
of any property or business damaged by, and for economic revitalization 
directly related to, the terrorist attacks on the United States that 
occurred on September 11, 2001.
    (b) Funds.--The funds referred to in this subsection are amounts 
appropriated by--
            (1) Public Law 107-206 under the heading ``DEPARTMENT OF 
        HOUSING AND URBAN DEVELOPMENT, Community Planning and 
        Development'',
            (2) section 434 of the Departments of Veterans Affairs and 
        Housing and Urban Development, and Independent Agencies 
        Appropriations Act, 2002 (Public Law 107-73),
            (3) amounts appropriated by Public Law 107-38 and 
        designated by the President for community development block 
        grant purposes, and
            (4) 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''.
    (c) Effective Date.--This section shall apply to taxable years 
ending after September 11, 2001.
    (d) Waiver of Limitations.--If the credit or refund of any 
overpayment of tax resulting from the application of this Act to a 
period before the date of enactment of this Act is prevented as of such 
date by the operation of any law or rule of law (including res 
judicata), such credit or refund may nevertheless be allowed or made if 
the claim therefor is filed before the close of the 1-year period 
beginning on the date of the enactment of this Act.
    (e) Refunds With Interest.--For credits and refunds of overpayments 
of tax, see chapter 65 of the Internal Revenue Code of 1986.
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