109 HR 3790 IH: To amend the Internal Revenue Code of 1986 to allow individuals to designate income tax overpayments to support relief efforts in response to Hurricane Katrina. U.S. House of Representatives 2005-09-15 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I 109th CONGRESS 1st Session H. R. 3790 IN THE HOUSE OF REPRESENTATIVES September 15, 2005 Mr. Kind introduced the following bill; which was referred to the Committee on Ways and Means, and in addition to the Committee on Transportation and Infrastructure, 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 allow individuals to designate income tax overpayments to support relief efforts in response to Hurricane Katrina.

1.

Designation of income tax overpayments to support relief efforts in response to Hurricane Katrina

(a)

Designation

(1)

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: IX

Designation of overpayments to Hurricane Katrina Relief Fund

Sec. 6098. Designation to Hurricane Katrina Relief Fund

6098.

Designation to Hurricane Katrina Relief Fund

(a)

In general

In the case of an individual, with respect to each taxpayer’s return for the taxable year of the tax imposed by chapter 1, such taxpayer may designate that a specified portion (not less than $1) of any overpayment of tax for such taxable year be paid over to the Hurricane Katrina Relief Fund. (b)

Manner and time of designation

A designation under subsection (a) may be made with respect to any taxable year only at the time of filing the return of the tax imposed by chapter 1 for such taxable year. Such designation shall be made in such manner as the Secretary prescribes by regulations except that such designation shall be made either on the first page of the return or on the page bearing the taxpayer’s signature. (c)

Overpayments treated as refunded

For purposes of this title, any portion of an overpayment of tax designated under subsection (a) shall be treated as— (1)being refunded to the taxpayer as of the last date prescribed for filing the return of tax imposed by chapter 1 (determined without regard to extensions) or, if later, the date the return is filed, and (2)a contribution made by such taxpayer on such date to the United States.

. (2)

Clerical amendment

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 overpayments to Hurricane Katrina Relief Fund. (b)

Hurricane Katrina Relief Fund

(1)

In general

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:

9511.

Hurricane Katrina Relief Fund

(a)

Creation of trust fund

There is established in the Treasury of the United States a trust fund to be known as the Hurricane Katrina Relief 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 Hurricane Katrina Relief Fund amounts equivalent to the amounts designated under section 6098. (c)

Expenditures

Amounts in the Hurricane Katrina Relief Fund shall be available to the Department of Homeland Security, as provided in appropriation Acts, for the purpose of carrying out relief efforts related to Hurricane Katrina. (d)

Report

The Secretary of Homeland Security shall prepare and submit an annual report to Congress on the use of amounts in the Hurricane Katrina Relief Fund.

. (2)

Clerical amendment

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. Hurricane Katrina Relief Fund. (c)

Effective dates

(1)

Designations

The amendments made by subsection (a) shall apply to taxable years ending after the date of the enactment of this Act. (2)

Establishment of trust fund

The amendments made by subsection (b) shall take effect on the date of the enactment of this Act.