[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5639 Introduced in House (IH)]

111th CONGRESS
  2d Session
                                H. R. 5639

To amend the Internal Revenue Code of 1986 to exclude executive branch 
 officers and employees from nonrecognition rules relating to the sale 
     of property to comply with conflict-of-interest requirements.


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                    IN THE HOUSE OF REPRESENTATIVES

                             June 29, 2010

 Mr. Stearns 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 executive branch 
 officers and employees from nonrecognition rules relating to the sale 
     of property to comply with conflict-of-interest requirements.

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

SECTION 1. EXCLUSION OF EXECUTIVE BRANCH OFFICERS AND EMPLOYEES FROM 
              CONFLICT-OF-INTEREST NONRECOGNITION RULES.

    (a) In General.--Subparagraph (A) of section 1043(b)(1) of the 
Internal Revenue Code of 1986 is amended by striking ``an officer or 
employee of the executive branch, or a judicial officer,'' and 
inserting ``a judicial officer''.
    (b) Conforming Amendments.--
            (1) Paragraphs (1)(A) and (5)(B) of section 1043(b) of such 
        Code are each amended by striking ``judicial canon, or 
        executive order'' and inserting ``or judicial canon''.
            (2)(A) Subparagraph (A) of section 1043(b)(2) of such Code 
        is amended by striking ``judicial canon, or executive order'' 
        and all that follows through ``Code)'' and inserting ``or 
        judicial canon''.
            (B) Subparagraph (B) of section 1043(b)(2) of such Code is 
        amended to read as follows:
                    ``(B) that has been issued by the Judicial 
                Conference of the United States (or its designee), 
                and''.
    (c) Effective Date.--The amendment made by this section shall apply 
to sales after the date of the enactment of this Act.
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