I 111th CONGRESS 2d Session H. R. 6067 IN THE HOUSE OF REPRESENTATIVES July 30, 2010 Ms. Linda T. Sánchez of California introduced the following bill; which was referred to the Committee on Ways and Means A BILL To increase by $25 million the funding available for individual development accounts for each of fiscal years 2011 and 2012, and to amend the Internal Revenue Code of 1986 to eliminate the domestic production deduction for coal and other hard mineral fossil fuels.

1.

Short title

This Act may be cited as the The IDA Protection Act of 2010.

2.

Supplemental amounts for individual development accounts

(a)

In general

The Secretary of Health and Human Services shall make grants to qualified entities for individual development accounts under rules similar to the rules of the Assets for Independence Act (42 U.S.C. 604 note); except that such grants shall be made without regard to any matching requirements. (b)

Grants To be supplemental

Funds made available to carry out this section shall be used to supplement, and not supplant, other Federal, State, and local funds available for individual development accounts. (c)

Definitions

For purposes of this section, the terms qualified entity and individual development account shall have the respective meanings given such terms by section 404 such Act (42 U.S.C. 604 note). (d)

Authorization of appropriations

There are authorized to be appropriated to carry out the purposes of this section $25,000,000 for each of fiscal years 2011 and 2012.

3.

Elimination of domestic production deduction for coal and other hard mineral fossil fuels

(a)

In general

Subparagraph (B) of section 199(c)(4) of the Internal Revenue Code of 1986 is amended by striking or at the end of clause (ii), by striking the period at the end of clause (iii) and inserting , or, and by adding at the end the following new clause: (iv)the sale, exchange, or other disposition of coal, other hard mineral fossil fuels (including lignite and oil shale), or any primary product thereof. . (b)

Effective date

The amendments made by this section shall apply to taxable years beginning after December 31, 2010.