[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[S. 2331 Introduced in Senate (IS)]







110th CONGRESS
  1st Session
                                S. 2331

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


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            November 8, 2007

 Mr. Warner (for himself and Mr. Webb) introduced the following bill; 
     which was read twice and referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
 To exclude from gross income payments from the Hokie Spirit Memorial 
  Fund to the victims of the tragic event, loss of life and limb, 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, as a payment in connection with 
the tragic event, loss of life and limb, on April 16, 2007, at such 
university.
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