[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4118 Received in Senate (RDS)]

  1st Session
                                H. R. 4118


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                   IN THE SENATE OF THE UNITED STATES

                            December 5, 2007

                                Received

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                                 AN ACT


 
 To exclude from gross income payments from the Hokie Spirit Memorial 
    Fund to the victims of the tragic event at Virginia Polytechnic 
                     Institute & State University.

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

SECTION 1. EXCLUSION FROM INCOME FOR PAYMENTS FROM THE HOKIE SPIRIT 
              MEMORIAL FUND.

    For purposes of the Internal Revenue Code of 1986, gross income 
shall not include any amount received from the Virginia Polytechnic 
Institute & State University, out of amounts transferred from the Hokie 
Spirit Memorial Fund established by the Virginia Tech Foundation, an 
organization organized and operated as described in section 501(c)(3) 
of the Internal Revenue Code of 1986, if such amount is paid on account 
of the tragic event on April 16, 2007, at such university.

SEC. 2. MODIFICATION OF PENALTY FOR FAILURE TO FILE PARTNERSHIP 
              RETURNS.

    For any return of a partnership required to be filed under section 
6031 of the Internal Revenue Code of 1986 for a taxable year beginning 
in 2008, the dollar amount in effect under section 6698(b)(1) of such 
Code shall be increased by $1.

            Passed the House of Representatives December 4, 2007.

            Attest:

                                            LORRAINE C. MILLER,

                                                                 Clerk.