[Congressional Record Volume 154, Number 121 (Wednesday, July 23, 2008)]
[Senate]
[Pages S7167-S7170]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. GRASSLEY (for himself, Mr. Harkin, Mr. Roberts, Mr. 
        Durbin, Mr. Coleman, Mr. Bond, Mr. Brownback, Mr. Bayh, Mrs. 
        McCaskill, Ms. Klobuchar, Mr. Obama, and Mr. Lugar):
  S. 3322. A bill to provide tax relief for the victims of severe 
storms, tornados, and flooding in the Midwest, and for other purposes; 
to the Committee on Finance.
  Mr. GRASSLEY. Mr. President, I ask unanimous consent that the text of 
the bill be printed in the Record.
  There being no objection, the text of the bill was ordered to be 
printed in the Record, as follows:

                                S. 3322

       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 ``Midwestern Disaster Tax 
     Relief Act of 2008''.

     SEC. 2. TEMPORARY TAX RELIEF FOR AREAS DAMAGED BY 2008 
                   MIDWESTERN SEVERE STORMS, TORNADOS, AND 
                   FLOODING.

       (a) In General.--Subject to the modifications described in 
     this section, the following provisions of or relating to the 
     Internal Revenue Code of 1986 shall apply to any Midwestern 
     disaster area in addition to the areas to which such 
     provisions otherwise apply:
       (1) Go zone benefits.--
       (A) Section 1400N (relating to tax benefits) other than 
     subsections (b), (i), (j), (m), and (o) thereof.
       (B) Section 1400O (relating to education tax benefits).
       (C) Section 1400P (relating to housing tax benefits).
       (D) Section 1400Q (relating to special rules for use of 
     retirement funds).
       (E) Section 1400R(a) (relating to employee retention credit 
     for employers).
       (F) Section 1400S (relating to additional tax relief) other 
     than subsection (d) thereof.
       (G) Section 1400T (relating to special rules for mortgage 
     revenue bonds).
       (2) Other benefits included in katrina emergency tax relief 
     act of 2005.--Sections 302, 303, 304, 401, and 405 of the 
     Katrina Emergency Tax Relief Act of 2005.
       (b) Use of Amended Income Tax Returns to Take Into Account 
     Receipt of Certain Casualty Loss Grants by Disallowing 
     Previously Taken Casualty Loss Deductions.--
       (1) In general.--Notwithstanding any other provision of the 
     Internal Revenue Code of 1986, if a taxpayer claims a 
     deduction for any taxable year with respect to a casualty 
     loss to a principal residence (within the meaning of section 
     121 of such Code) resulting from the severe storms, tornados, 
     or flooding giving rise to any Presidential declaration 
     described in subsection (c)(1)(A) and in a subsequent taxable 
     year receives a grant under any Federal or State program as 
     reimbursement for such loss, such taxpayer may elect to file 
     an amended income tax return for the taxable year in which 
     such deduction was allowed (and for any taxable year to which 
     such deduction is carried) and reduce (but not below zero) 
     the amount of such deduction by the amount of such 
     reimbursement.
       (2) Time of filing amended return.--Paragraph (1) shall 
     apply with respect to any grant only if any amended income 
     tax returns with respect to such grant are filed not later 
     than the later of--
       (A) the due date for filing the tax return for the taxable 
     year in which the taxpayer receives such grant, or
       (B) the date which is 1 year after the date of the 
     enactment of this Act.
       (3) Waiver of penalties and interest.--Any underpayment of 
     tax resulting from the reduction under paragraph (1) of the 
     amount otherwise allowable as a deduction shall not be 
     subject to any penalty or interest under such Code if such 
     tax is paid not later than 1 year after the filing of the 
     amended return to which such reduction relates.
       (c) Midwestern Disaster Area.--
       (1) In general.--For purposes of this section and for 
     applying the substitutions described in subsections (e) and 
     (f), the term ``Midwestern disaster area'' means an area--
       (A) with respect to which a major disaster has been 
     declared by the President on or after May 20, 2008, and 
     before August 1, 2008, under section 401 of the Robert T. 
     Stafford Disaster Relief and Emergency Assistance Act by 
     reason of severe storms, tornados, or flooding occurring in 
     any of the States of Arkansas, Illinois, Indiana, Iowa, 
     Kansas, Michigan, Minnesota, Missouri, Nebraska, and 
     Wisconsin, and
       (B) determined by the President to warrant individual or 
     individual and public assistance from the Federal Government 
     under such Act with respect to damages attributable to such 
     severe storms, tornados, or flooding.
       (2) Certain benefits available to areas eligible only for 
     public assistance.--For purposes of applying this section to 
     benefits under the following provisions, paragraph (1) shall 
     be applied without regard to subparagraph (B):
       (A) Sections 1400Q, 1400S(b), and 1400S(d) of the Internal 
     Revenue Code of 1986.
       (B) Sections 302, 401, and 405 of the Katrina Emergency Tax 
     Relief Act of 2005.
       (d) References.--
       (1) Area.--Any reference in such provisions to the 
     Hurricane Katrina disaster area or the Gulf Opportunity Zone 
     shall be treated as a reference to any Midwestern disaster 
     area

[[Page S7168]]

     and any reference to the Hurricane Katrina disaster area or 
     the Gulf Opportunity Zone within a State shall be treated as 
     a reference to all Midwestern disaster areas within the 
     State.
       (2) Items attributable to disaster.--Any reference in such 
     provisions to any loss, damage, or other item attributable to 
     Hurricane Katrina shall be treated as a reference to any 
     loss, damage, or other item attributable to the severe 
     storms, tornados, or flooding giving rise to any Presidential 
     declaration described in subsection (c)(1)(A).
       (3) Applicable disaster date.--For purposes of applying the 
     substitutions described in subsections (e) and (f), the term 
     ``applicable disaster date'' means, with respect to any 
     Midwestern disaster area, the date on which the severe 
     storms, tornados, or flooding giving rise to the Presidential 
     declaration described in subsection (c)(1)(A) occurred.
       (e) Modifications to 1986 Code.--The following provisions 
     of the Internal Revenue Code of 1986 shall be applied with 
     the following modifications:
       (1) Tax-exempt bond financing.--Section 1400N(a)--
       (A) by substituting ``qualified Midwestern disaster area 
     bond'' for ``qualified Gulf Opportunity Zone Bond'' each 
     place it appears, except that in determining whether a bond 
     is a qualified Midwestern disaster area bond--
       (i) paragraph (2)(A)(i) shall be applied by only treating 
     costs as qualified project costs if--

       (I) in the case of a project involving a private business 
     use (as defined in section 141(b)(6)), either the person 
     using the property suffered a loss in a trade or business 
     attributable to the severe storms, tornados, or flooding 
     giving rise to any Presidential declaration described in 
     subsection (c)(1)(A) or is a person designated for purposes 
     of this section by the Governor of the State in which the 
     project is located as a person carrying on a trade or 
     business replacing a trade or business with respect to which 
     another person suffered such a loss, and
       (II) in the case of a project relating to public utility 
     property, the project involves repair or reconstruction of 
     public utility property damaged by such severe storms, 
     tornados, or flooding, and

       (ii) paragraph (2)(A)(ii) shall be applied by treating an 
     issue as a qualified mortgage issue only if 95 percent or 
     more of the net proceeds (as defined in section 150(a)(3)) of 
     the issue are to be used to provide financing for mortgagors 
     who suffered damages to their principal residences 
     attributable to such severe storms, tornados, or flooding.
       (B) by substituting ``any State in which a Midwestern 
     disaster area is located'' for ``the State of Alabama, 
     Louisiana, or Mississippi'' in paragraph (2)(B),
       (C) by substituting ``designated for purposes of this 
     section (on the basis of providing assistance to areas in the 
     order in which such assistance is most needed)'' for 
     ``designated for purposes of this section'' in paragraph 
     (2)(C),
       (D) by substituting ``January 1, 2013'' for ``January 1, 
     2011'' in paragraph (2)(D),
       (E) in paragraph (3)(A)--
       (i) by substituting ``$1,000'' for ``$2,500'', and
       (ii) by substituting ``before the earliest applicable 
     disaster date for Midwestern disaster areas within the 
     State'' for ``before August 28, 2005'',
       (F) by substituting ``qualified Midwestern disaster area 
     repair or construction'' for ``qualified GO Zone repair or 
     construction'' each place it appears, and
       (G) by substituting ``after the date of the enactment of 
     the Housing and Economic Recovery Act of 2008 and before 
     January 1, 2013'' for ``after the date of the enactment of 
     this paragraph and before January 1, 2011'' in paragraph 
     (7)(C).
       (2) Low-income housing credit.--Section 1400N(c)--
       (A) only with respect to calendar years 2009, 2010, and 
     2011,
       (B) by substituting ``Disaster Recovery Assistance housing 
     amount'' for ``Gulf Opportunity housing amount'',
       (C) in paragraph (1)(B)--
       (i) by substituting ``$4.00'' for ``$18.00'', and
       (ii) by substituting ``before the earliest applicable 
     disaster date for Midwestern disaster areas within the 
     State'' for ``before August 28, 2005'' , and
       (D) determined without regard to paragraphs (2), (3), (4), 
     (5), and (6) thereof.
       (3) Special allowance for certain property acquired on or 
     after the applicable disaster date.--Section 1400N(d)--
       (A) by substituting ``qualified Disaster Recovery 
     Assistance property'' for ``qualified Gulf Opportunity Zone 
     property'' each place it appears, except that a taxpayer 
     shall be allowed additional bonus depreciation and expensing 
     under such subsection or section 1400N(e) with respect to 
     such property only if--
       (i) the taxpayer suffered an economic loss attributable to 
     the severe storms, tornados, or flooding giving rise to any 
     Presidential declaration described in subsection (c)(1)(A), 
     and
       (ii) such property--

       (I) rehabilitates property damaged, or replaces property 
     destroyed or condemned, as a result of such severe storms, 
     tornados, or flooding, except that, for purposes of this 
     clause, property shall be treated as replacing property 
     destroyed or condemned if, as part of an integrated plan, 
     such property replaces property which is included in a 
     continuous area which includes real property destroyed or 
     condemned, and
       (II) is similar in nature to, and located in the same 
     county as, the property being rehabilitated or replaced,

       (B) by substituting ``the applicable disaster date'' for 
     ``August 28, 2005'' each place it appears,
       (C) by substituting ``December 31, 2011'' for ``December 
     31, 2007'' in paragraph (2)(A)(v),
       (D) by substituting ``December 31, 2012'' for ``December 
     31, 2008'' in paragraph (2)(A)(v),
       (E) by substituting ``the day before the applicable 
     disaster date'' for ``August 27, 2005'' in paragraph (3)(A),
       (F) determined without regard to paragraph (6) thereof, and
       (G) by not including as qualified Disaster Recovery 
     Assistance property any property to which section 168(k) 
     applies.
       (4) Increase in expensing under section 179.--Section 
     1400N(e), by substituting ``qualified section 179 Disaster 
     Recovery Assistance property'' for ``qualified section 179 
     Gulf Opportunity Zone property'' each place it appears.
       (5) Expensing for certain demolition and clean-up costs.--
     Section 1400N(f)--
       (A) by substituting ``qualified Disaster Recovery 
     Assistance clean-up cost'' for ``qualified Gulf Opportunity 
     Zone clean-up cost'' each place it appears,
       (B) by substituting ``beginning on the applicable disaster 
     date and ending on December 31, 2010'' for ``beginning on 
     August 28, 2005, and ending on December 31, 2007'' in 
     paragraph (2), and
       (C) by treating costs as qualified Disaster Recovery 
     Assistance clean-up costs only if the removal of debris or 
     demolition of any structure was necessary due to damage 
     attributable to the severe storms, tornados, or flooding 
     giving rise to any Presidential declaration described in 
     subsection (c)(1)(A).
       (6) Extension of expensing for environmental remediation 
     costs.--Section 1400N(g)--
       (A) by substituting ``the applicable disaster date'' for 
     ``August 28, 2005'' each place it appears,
       (B) by substituting ``January 1, 2011'' for ``January 1, 
     2008'' in paragraph (1),
       (C) by substituting ``December 31, 2010'' for ``December 
     31, 2007'' in paragraph (1), and
       (D) by treating a site as a qualified contaminated site 
     only if the release (or threat of release) or disposal of a 
     hazardous substance at the site was attributable to the 
     severe storms, tornados, or flooding giving rise to any 
     Presidential declaration described in subsection (c)(1)(A).
       (7) Increase in rehabilitation credit.--Section 1400N(h)--
       (A) by substituting ``the applicable disaster date'' for 
     ``August 28, 2005'',
       (B) by substituting ``January 1, 2011'' for ``January 1, 
     2008'' in paragraph (1), and
       (C) by only applying such subsection to qualified 
     rehabilitation expenditures with respect to any building or 
     structure which was damaged or destroyed as a result of the 
     severe storms, tornados, or flooding giving rise to any 
     Presidential declaration described in subsection (c)(1)(A).
       (8) Treatment of net operating losses attributable to 
     disaster losses.--Section 1400N(k)--
       (A) by substituting ``qualified Disaster Recovery 
     Assistance loss'' for ``qualified Gulf Opportunity Zone 
     loss'' each place it appears,
       (B) by substituting ``after the day before the applicable 
     disaster date, and before January 1, 2011'' for ``after 
     August 27, 2005, and before January 1, 2008'' each place it 
     appears,
       (C) by substituting ``the applicable disaster date'' for 
     ``August 28, 2005'' in paragraph (2)(B)(ii)(I),
       (D) by substituting ``qualified Disaster Recovery 
     Assistance property'' for ``qualified Gulf Opportunity Zone 
     property'' in paragraph (2)(B)(iv), and
       (E) by substituting ``qualified Disaster Recovery 
     Assistance casualty loss'' for ``qualified Gulf Opportunity 
     Zone casualty loss'' each place it appears.
       (9) Credit to holders of tax credit bonds.--Section 
     1400N(l)--
       (A) by substituting ``Midwestern tax credit bond'' for 
     ``Gulf tax credit bond'' each place it appears,
       (B) by substituting ``any State in which a Midwestern 
     disaster area is located'' for ``the State of Alabama, 
     Louisiana, or Mississippi'' in paragraph (4)(A)(i),
       (C) by substituting ``after December 31, 2008 and before 
     January 1, 2010'' for ``after December 31, 2005, and before 
     January 1, 2007'',
       (D) by substituting ``shall not exceed $100,000,000 for any 
     State with an aggregate population located in all Midwestern 
     disaster areas within the State of at least 2,000,000, 
     $50,000,000 for any State with an aggregate population 
     located in all Midwestern disaster areas within the State of 
     at least 1,000,000 but less than 2,000,000, and zero for any 
     other State. The population of a State within any area shall 
     be determined on the basis of the most recent census estimate 
     of resident population released by the Bureau of Census 
     before the earliest applicable disaster date for Midwestern 
     disaster areas within the State.'' for ``shall not exceed'' 
     and all that follows in paragraph (4)(C), and
       (E) by substituting ``the earliest applicable disaster date 
     for Midwestern disaster areas within the State'' for ``August 
     28, 2005'' in paragraph (5)(A).
       (10) Education tax benefits.--Section 1400O, by 
     substituting ``2008 or 2009'' for ``2005 or 2006''.

[[Page S7169]]

       (11) Housing tax benefits.--Section 1400P, by substituting 
     ``the applicable disaster date'' for ``August 28, 2005'' in 
     subsection (c)(1).
       (12) Special rules for use of retirement funds.--Section 
     1400Q--
       (A) by substituting ``qualified Disaster Recovery 
     Assistance distribution'' for ``qualified hurricane 
     distribution'' each place it appears,
       (B) by substituting ``on or after the applicable disaster 
     date and before January 1, 2010'' for ``on or after August 
     25, 2005, and before January 1, 2007'' in subsection 
     (a)(4)(A)(i),
       (C) by substituting ``the applicable disaster date'' for 
     ``August 28, 2005'' in subsections (a)(4)(A)(i) and 
     (c)(3)(B),
       (D) by disregarding clauses (ii) and (iii) of subsection 
     (a)(4)(A) thereof,
       (E) by substituting ``qualified storm damage distribution'' 
     for ``qualified Katrina distribution'' each place it appears,
       (F) by substituting ``after the date which is 6 months 
     before the applicable disaster date and before the date which 
     is the day after the applicable disaster date'' for ``after 
     February 28, 2005, and before August 29, 2005'' in subsection 
     (b)(2)(B)(ii),
       (G) by substituting ``the Midwestern disaster area, but not 
     so purchased or constructed on account of severe storms, 
     tornados, or flooding giving rise to the designation of the 
     area as a disaster area'' for ``the Hurricane Katrina 
     disaster area, but not so purchased or constructed on account 
     of Hurricane Katrina'' in subsection (b)(2)(B)(iii),
       (H) by substituting ``beginning on the applicable disaster 
     date and ending on the date which is 5 months after the date 
     of the enactment of the Housing and Economic Recovery Act of 
     2008'' for ``beginning on August 25, 2005, and ending on 
     February 28, 2006'' in subsection (b)(3)(A),
       (I) by substituting ``qualified storm damage individual'' 
     for ``qualified Hurricane Katrina individual'' each place it 
     appears,
       (J) by substituting ``December 31, 2009'' for ``December 
     31, 2006'' in subsection (c)(2)(A),
       (K) by substituting ``beginning on the date of the 
     enactment of the Housing and Economic Recovery Act of 2008 
     and ending on December 31, 2009'' for ``beginning on 
     September 24, 2005, and ending on December 31, 2006'' in 
     subsection (c)(4)(A)(i),
       (L) by substituting ``the applicable disaster date'' for 
     ``August 25, 2005'' in subsection (c)(4)(A)(ii), and
       (M) by substituting ``January 1, 2010'' for ``January 1, 
     2007'' in subsection (d)(2)(A)(ii).
       (13) Employee retention credit for employers affected by 
     severe storms, tornados, and flooding.--Section 1400R(a)--
       (A) by substituting ``the applicable disaster date'' for 
     ``August 28, 2005'' each place it appears,
       (B) by substituting ``January 1, 2009'' for ``January 1, 
     2006'' both places it appears, and
       (C) only with respect to eligible employers who employed an 
     average of not more than 200 employees on business days 
     during the taxable year before the applicable disaster date.
       (14) Temporary suspension of limitations on charitable 
     contributions.--Section 1400S(a), by substituting the 
     following paragraph for paragraph (4) thereof:
       ``(4) Qualified contributions.--
       ``(A) In general.--For purposes of this subsection, the 
     term `qualified contribution' means any charitable 
     contribution (as defined in section 170(c)) if--
       ``(i) such contribution--

       ``(I) is paid during the period beginning on the earliest 
     applicable disaster date for all States and ending on 
     December 31, 2008, in cash to an organization described in 
     section 170(b)(1)(A), and
       ``(II) is made for relief efforts in 1 or more Midwestern 
     disaster areas,

       ``(ii) the taxpayer obtains from such organization 
     contemporaneous written acknowledgment (within the meaning of 
     section 170(f)(8)) that such contribution was used (or is to 
     be used) for relief efforts in 1 or more Midwestern disaster 
     areas, and
       ``(iii) the taxpayer has elected the application of this 
     subsection with respect to such contribution.
       ``(B) Exception.--Such term shall not include a 
     contribution by a donor if the contribution is--
       ``(i) to an organization described in section 509(a)(3), or
       ``(ii) for establishment of a new, or maintenance of an 
     existing, donor advised fund (as defined in section 
     4966(d)(2)).
       ``(C) Application of election to partnerships and s 
     corporations.--In the case of a partnership or S corporation, 
     the election under subparagraph (A)(iii) shall be made 
     separately by each partner or shareholder.''.
       (15) Suspension of certain limitations on personal casualty 
     losses.--Section 1400S(b)(1), by substituting ``the 
     applicable disaster date'' for ``August 25, 2005''.
       (16) Special rule for determining earned income.--Section 
     1400S(d)--
       (A) by treating an individual as a qualified individual if 
     such individual's principal place of abode on the applicable 
     disaster date was located in a Midwestern disaster area,
       (B) by treating the applicable disaster date with respect 
     to any such individual as the applicable date for purposes of 
     such subsection, and
       (C) by treating an area as described in paragraph 
     (2)(B)(ii) thereof if the area is a Midwestern disaster area 
     only by reason of subsection (b)(2) of this section (relating 
     to areas eligible only for public assistance)
       (17) Adjustments regarding taxpayer and dependency 
     status.--Section 1400S(e), by substituting ``2008 or 2009'' 
     for ``2005 or 2006''.
       (f) Modifications to Katrina Emergency Tax Relief Act of 
     2005.--The following provisions of the Katrina Emergency Tax 
     Relief Act of 2005 shall be applied with the following 
     modifications:
       (1) Additional exemption for housing displaced 
     individual.--Section 302--
       (A) by substituting ``2008 or 2009'' for ``2005 or 2006'' 
     in subsection (a) thereof,
       (B) by substituting ``Midwestern displaced individual'' for 
     ``Hurricane Katrina displaced individual'' each place it 
     appears, and
       (C) by treating an area as a core disaster area for 
     purposes of applying subsection (c) thereof if the area is a 
     Midwestern disaster area without regard to subsection (b)(2) 
     of this section (relating to areas eligible only for public 
     assistance).
       (2) Increase in standard mileage rate.--Section 303, by 
     substituting ``beginning on the applicable disaster date and 
     ending on December 31, 2008'' for ``beginning on August 25, 
     2005, and ending on December 31, 2006''.
       (3) Mileage reimbursements for charitable volunteers.--
     Section 304--
       (A) by substituting ``beginning on the applicable disaster 
     date and ending on December 31, 2008'' for ``beginning on 
     August 25, 2005, and ending on December 31, 2006'' in 
     subsection (a), and
       (B) by substituting ``the applicable disaster date'' for 
     ``August 25, 2005'' in subsection (a).
       (4) Exclusion of certain cancellation of indebtedness 
     income.--Section 401--
       (A) by treating an individual whose principal place of 
     abode on the applicable disaster date was in a Midwestern 
     disaster area (determined without regard to subsection (b)(2) 
     of this section) as an individual described in subsection 
     (b)(1) thereof, and by treating an individual whose principal 
     place of abode on the applicable disaster date was in a 
     Midwestern disaster area solely by reason of subsection 
     (b)(2) of this section as an individual described in 
     subsection (b)(2) thereof,
       (B) by substituting ``the applicable disaster date'' for 
     ``August 28, 2005'' both places it appears, and
       (C) by substituting ``January 1, 2010'' for ``January 1, 
     2007'' in subsection (e).
       (5) Extension of replacement period for nonrecognition of 
     gain.--Section 405, by substituting ``on or after the 
     applicable disaster date'' for ``on or after August 25, 
     2005''.

     SEC. 3. ENHANCED CHARITABLE DEDUCTIONS FOR CONTRIBUTIONS OF 
                   FOOD INVENTORY.

       (a) Increased Amount of Deduction.--
       (1) In general.--Clause (iv) of section 170(e)(3)(C) 
     (relating to termination) of the Internal Revenue Code of 
     1986 is amended by striking ``December 31, 2007'' and 
     inserting ``December 31, 2009''.
       (2) Effective date.--The amendment made by this subsection 
     shall apply to contributions made after December 31, 2007.
       (b) Temporary Suspension of Limitations on Charitable 
     Contributions.--
       (1) In general.--Section 170(b) of such Code is amended by 
     adding at the end the following new paragraph:
       ``(3) Temporary suspension of limitations on charitable 
     contributions.--In the case of a qualified farmer or rancher 
     (as defined in paragraph (1)(E)(v)), any charitable 
     contribution of food--
       ``(A) to which subsection (e)(3)(C) applies (without regard 
     to clause (ii) thereof), and
       ``(B) which is made during the period beginning on the date 
     of the enactment of this paragraph and before January 1, 
     2009,
     shall be treated for purposes of paragraph (1)(E) or (2)(B), 
     whichever is applicable, as if it were a qualified 
     conservation contribution which is made by a qualified farmer 
     or rancher and which otherwise meets the requirements of such 
     paragraph.''.
       (2) Effective date.--The amendment made by this subsection 
     shall apply to taxable years ending after the date of the 
     enactment of this Act.

     SEC. 4. EXTENSION OF ENHANCED CHARITABLE DEDUCTION FOR 
                   CONTRIBUTIONS OF BOOK INVENTORY.

       (a) Extension.--Clause (iv) of section 170(e)(3)(D) of the 
     Internal Revenue Code of 1986 (relating to termination) of 
     the Internal Revenue Code of 1986 is amended by striking 
     ``December 31, 2007'' and inserting ``December 31, 2009''.
       (b) Clerical Amendment.--Clause (iii) of section 
     170(e)(3)(D) of such Code (relating to certification by 
     donee) is amended by inserting ``of books'' after ``to any 
     contribution''.
       (c) Effective Date.--The amendments made by this section 
     shall apply to contributions made after December 31, 2007.

     SEC. 5. REPORTING REQUIREMENTS RELATING TO DISASTER RELIEF 
                   CONTRIBUTIONS.

       (a) In General.--Section 6033(b) of the Internal Revenue 
     Code of 1986 (relating to returns of certain organizations 
     described in section 501(c)(3)) is amended by striking 
     ``and'' at the end of paragraph (13), by redesignating 
     paragraph (14) as paragraph (15), and by adding after 
     paragraph (13) the following new paragraph:
       ``(14) such information as the Secretary may require with 
     respect to disaster relief activities, including the amount 
     and use of qualified contributions to which section 1400S(a) 
     applies, and''.
       (b) Effective Date.--The amendments made by this section 
     shall apply to returns the due date for which (determined 
     without regard to any extension) occurs after December 31, 
     2008.

[[Page S7170]]

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