IIB 111th CONGRESS 2d Session H. R. 4783 IN THE SENATE OF THE UNITED STATES March 10, 2010 Received March 26 (legislative day, March 25), 2010 Read twice and referred to the Committee on Finance AN ACT To accelerate the income tax benefits for charitable cash contributions for the relief of victims of the earthquake in Chile, and to extend the period from which such contributions for the relief of victims of the earthquake in Haiti may be accelerated.

1.

Acceleration of income tax benefits for charitable cash contributions for relief of victims of earthquake in Chile

(a)

In general

For purposes of section 170 of the Internal Revenue Code of 1986, a taxpayer may treat any contribution described in subsection (b) made after February 26, 2010, and on or before April 15, 2010, as if such contribution were made on December 31, 2009, and not in 2010. (b)

Contribution described

A contribution is described in this subsection if such contribution is a cash contribution made for the relief of victims in areas affected by the earthquake in Chile on February 27, 2010, for which a charitable contribution deduction is allowable under section 170 of the Internal Revenue Code of 1986. (c)

Recordkeeping

In the case of a contribution described in subsection (b), a telephone bill showing the name of the donee organization, the date of the contribution, and the amount of the contribution shall be treated as meeting the recordkeeping requirements of section 170(f)(17) of the Internal Revenue Code of 1986.

2.

Extension of period from which charitable cash contributions for relief of victims of earthquake in Haiti may be accelerated

(a)

In general

Subsection (a) of section 1 of Public Law 111–126 is amended by striking before March 1, 2010 and inserting on or before April 15, 2010. (b)

Effective date

The amendment made by this section shall apply to contributions made after February 28, 2010.

3.

Budgetary provisions

(a)

Statutory paygo

The budgetary effects of this Act, for the purpose of complying with the Statutory Pay-As-You-Go Act of 2010, shall be determined by reference to the latest statement titled “Budgetary Effects of PAYGO Legislation” for this Act, submitted for printing in the Congressional Record by the Chairman of the Committee on the Budget of the House of Representatives, provided that such statement has been submitted prior to the vote on passage. (b)

Emergency designation

(1)

Statutory paygo

This Act is designated as an emergency requirement pursuant to section 4(g) of the Statutory Pay-As-You-Go Act of 2010 (Public Law 111–139; 2 U.S.C. 933(g)). (2)

House paygo rules

All applicable provisions in this Act are designated as an emergency for purposes of pay-as-you-go principles.

Passed the House of Representatives March 10, 2010. Lorraine C. Miller, Clerk.