[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4303 Introduced in House (IH)]







110th CONGRESS
  1st Session
                                H. R. 4303

To amend the Internal Revenue Code of 1986 to exclude from gross income 
rewards received for information provided with respect to violations of 
                         Federal criminal law.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            December 6, 2007

  Mr. Chabot 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 
rewards received for information provided with respect to violations of 
                         Federal criminal law.

    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 REWARDS FOR INFORMATION WITH 
              RESPECT TO VIOLATIONS OF FEDERAL CRIMINAL LAW.

    (a) In General.--Part III of subchapter B of chapter 1 of the 
Internal Revenue Code of 1986 (relating to items specifically excluded 
from gross income) is amended by inserting after section 139A the 
following new section:

``SEC. 139B. REWARDS FOR INFORMATION RELATING TO VIOLATIONS OF FEDERAL 
              CRIMINAL LAW.

    ``(a) In General.--In the case of an individual, gross income shall 
not include any qualified reward payment.
    ``(b) Qualified Reward Payment.--For purposes of this section, the 
term `qualified reward payment' means any payment received from a State 
or Federal law enforcement agency for the provision of information 
relating to the violation of a Federal criminal law.''.
    (b) Clerical Amendment.--The table of sections for part III of 
subchapter B of chapter 1 of such Code is amended by inserting after 
the item relating to section 139A the following new item:

``Sec. 139B. Rewards for information relating to violations of Federal 
                            criminal law.''.
    (c) Effective Date.--The amendments made by this section shall 
apply to amounts received in taxable years beginning after December 31, 
2007.
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