[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4518 Introduced in House (IH)]

111th CONGRESS
  2d Session
                                H. R. 4518

  To amend the Internal Revenue Code of 1986 to deny a deduction for 
image advertising expenses for any trade or business the gross receipts 
                     of which exceed $100 million.


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                    IN THE HOUSE OF REPRESENTATIVES

                            January 26, 2010

Mr. Hall of New York 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 deny a deduction for 
image advertising expenses for any trade or business the gross receipts 
                     of which exceed $100 million.

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

SECTION 1. DENIAL OF DEDUCTION FOR CERTAIN ADVERTISING.

    (a) In General.--Part IX of subchapter B of chapter 1 of the 
Internal Revenue Code of 1986 (relating to items not deductible) is 
amended by adding at the end the following new section:

``SEC. 280I. DENIAL OF DEDUCTION FOR CERTAIN ADVERTISING.

    ``(a) In General.--In the case of a person who is not a qualified 
small business, no deduction shall be allowed under this chapter for 
any amount paid or incurred for advertising anything other than a 
service or product.
    ``(b) Qualified Small Business.--For purposes of this section, the 
term `qualified small business' means any person engaged in a trade or 
business the gross receipts of which for the preceding taxable year did 
not exceed $100,000,000.
    ``(c) Common Control.--All members of the same controlled group of 
corporations (within the meaning of section 52(a)) and all persons 
under common control (within the meaning of section 52(b)) shall be 
treated as 1 person for purposes of this section.''.
    (b) Clerical Amendment.--The table of sections for part IX of 
subchapter B of chapter 1 of such Code is amended by adding at the end 
thereof the following new item:

``Sec. 280I. Denial of deduction for certain advertising expenses.''.
    (c) Effective Date.--The amendments made by this section shall 
apply to amounts paid or incurred after the date of the enactment of 
this Act in taxable years ending after such date.
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