[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3957 Reported in House (RH)]

<DOC>





                                                 Union Calendar No. 582
114th CONGRESS
  2d Session
                                H. R. 3957

                          [Report No. 114-749]

    To amend the Internal Revenue Code of 1986 to temporarily allow 
 expensing of certain costs of replanting citrus plants lost by reason 
                              of casualty.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            November 5, 2015

Mr. Buchanan (for himself, Mr. Rooney of Florida, Mr. Ross, Mr. Jolly, 
  Mr. Diaz-Balart, Ms. Castor of Florida, Mr. Yoho, Mr. Crenshaw, Mr. 
Curbelo of Florida, Mr. Bilirakis, Mr. Murphy of Florida, Mr. Hastings, 
  and Ms. Wasserman Schultz) introduced the following bill; which was 
              referred to the Committee on Ways and Means

                           September 16, 2016

Additional sponsors: Mr. Posey, Mr. Clawson of Florida, Mr. Deutch, Ms. 
  Frankel of Florida, Ms. Graham, Ms. Ros-Lehtinen, Mr. DeSantis, Mr. 
  Mica, Mr. Webster of Florida, Mr. Grayson, Mr. Olson, Ms. Wilson of 
Florida, Mr. Gosar, Mr. Schweikert, Ms. Brown of Florida, Mr. Franks of 
 Arizona, Mr. Miller of Florida, Mr. Nugent, Mr. Salmon, Mr. Cuellar, 
                              and Mr. Vela

                           September 16, 2016

  Reported with an amendment, committed to the Committee of the Whole 
       House on the State of the Union, and ordered to be printed
 [Strike out all after the enacting clause and insert the part printed 
                               in italic]
    [For text of introduced bill, see copy of bill as introduced on 
                           November 5, 2015]


_______________________________________________________________________

                                 A BILL


 
    To amend the Internal Revenue Code of 1986 to temporarily allow 
 expensing of certain costs of replanting citrus plants lost by reason 
                              of casualty.


 


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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Emergency Citrus Disease Response 
Act of 2016''.

SEC. 2. EXPENSING OF CERTAIN COSTS OF REPLANTING CITRUS PLANTS LOST BY 
              REASON OF CASUALTY.

    (a) In General.--Section 263A(d)(2) of the Internal Revenue Code of 
1986 is amended by adding at the end the following new subparagraph:
                    ``(C) Special temporary rule for citrus plants lost 
                by reason of casualty.--
                            ``(i) In general.--In the case of the 
                        replanting of citrus plants, subparagraph (A) 
                        shall apply to amounts paid or incurred by a 
                        person (other than the taxpayer described in 
                        subparagraph (A)) if--
                                    ``(I) the taxpayer described in 
                                subparagraph (A) has an equity interest 
                                of not less than 50 percent in the 
                                replanted citrus plants at all times 
                                during the taxable year in which such 
                                amounts were paid or incurred and such 
                                other person holds any part of the 
                                remaining equity interest, or
                                    ``(II) such other person acquired 
                                the entirety of such taxpayer's equity 
                                interest in the land on which the lost 
                                or damaged citrus plants were located 
                                at the time of such loss or damage, and 
                                the replanting is on such land.
                            ``(ii) Termination.--Clause (i) shall not 
                        apply to any cost paid or incurred after 
                        December 31, 2025.''.
    (b) Effective Date.--The amendment made by this section shall apply 
to costs paid or incurred after the date of the enactment of this Act.
                                                 Union Calendar No. 582

114th CONGRESS

  2d Session

                               H. R. 3957

                          [Report No. 114-749]

_______________________________________________________________________

                                 A BILL

    To amend the Internal Revenue Code of 1986 to temporarily allow 
 expensing of certain costs of replanting citrus plants lost by reason 
                              of casualty.

_______________________________________________________________________

                           September 16, 2016

  Reported with an amendment, committed to the Committee of the Whole 
       House on the State of the Union, and ordered to be printed