[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3301 Reported in House (RH)]
<DOC>
Union Calendar No. 300
116th CONGRESS
2d Session
H. R. 3301
[Report No. 116-379]
To amend the Internal Revenue Code of 1986 to extend certain expiring
provisions, to provide disaster relief, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
June 18, 2019
Mr. Thompson of California introduced the following bill; which was
referred to the Committee on Ways and Means
January 21, 2020
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 June
18, 2019]
_______________________________________________________________________
A BILL
To amend the Internal Revenue Code of 1986 to extend certain expiring
provisions, to provide disaster relief, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE; ETC.
(a) Short Title.--This Act may be cited as the ``Taxpayer Certainty
and Disaster Tax Relief Act of 2019''.
(b) Table of Contents.--The table of contents for this Act is as
follows:
Sec. 1. Short title; etc.
TITLE I--EXTENSION OF CERTAIN EXPIRING PROVISIONS
Subtitle A--Tax Relief and Support for Families and Individuals
Sec. 101. Exclusion from gross income of discharge of qualified
principal residence indebtedness.
Sec. 102. Treatment of mortgage insurance premiums as qualified
residence interest.
Sec. 103. Reduction in medical expense deduction floor.
Sec. 104. Deduction of qualified tuition and related expenses.
Sec. 105. Black lung disability trust fund excise tax.
Subtitle B--Incentives for Employment, Economic Growth, and Community
Development
Sec. 111. Indian employment credit.
Sec. 112. Railroad track maintenance credit.
Sec. 113. Mine rescue team training credit.
Sec. 114. 7-year recovery period for motorsports entertainment
complexes.
Sec. 115. Accelerated depreciation for business property on Indian
reservations.
Sec. 116. Expensing rules for certain productions.
Sec. 117. Empowerment zone tax incentives.
Sec. 118. American Samoa economic development credit.
Subtitle C--Incentives for Energy Production, Efficiency, and Green
Economy Jobs
Sec. 121. Biodiesel and renewable diesel.
Sec. 122. Second generation biofuel producer credit.
Sec. 123. Nonbusiness energy property.
Sec. 124. Qualified fuel cell motor vehicles.
Sec. 125. Alternative fuel refueling property credit.
Sec. 126. 2-wheeled plug-in electric vehicle credit.
Sec. 127. Credit for electricity produced from certain renewable
resources.
Sec. 128. Production credit for Indian coal facilities.
Sec. 129. Energy efficient homes credit.
Sec. 130. Special allowance for second generation biofuel plant
property.
Sec. 131. Energy efficient commercial buildings deduction.
Sec. 132. Special rule for sales or dispositions to implement FERC or
State electric restructuring policy for
qualified electric utilities.
Sec. 133. Extension and clarification of excise tax credits relating to
alternative fuels.
Sec. 134. Oil spill liability trust fund rate.
Subtitle D--Certain Provisions Expiring at the End of 2019
Sec. 141. New markets tax credit.
Sec. 142. Employer credit for paid family and medical leave.
Sec. 143. Work opportunity credit.
Sec. 144. Certain provisions related to beer, wine, and distilled
spirits.
Sec. 145. Look-thru rule for related controlled foreign corporations.
Sec. 146. Credit for health insurance costs of eligible individuals.
TITLE II--ESTATE AND GIFT TAX
Sec. 201. Reduction of unified credit against estate tax.
TITLE III--DISASTER TAX RELIEF
Sec. 301. Definitions.
Sec. 302. Special disaster-related rules for use of retirement funds.
Sec. 303. Employee retention credit for employers affected by qualified
disasters.
Sec. 304. Other disaster-related tax relief provisions.
Sec. 305. Automatic extension of filing deadlines in case of certain
taxpayers affected by Federally declared
disasters.
Sec. 306. Modification of the tax rate for the excise tax on investment
income of private foundations.
Sec. 307. Additional low-income housing credit allocations for
qualified 2017 and 2018 California disaster
areas.
Sec. 308. Treatment of certain possessions.
(c) Amendment of 1986 Code.--Except as otherwise expressly
provided, whenever in this Act an amendment or repeal is expressed in
terms of an amendment to, or repeal of, a section or other provision,
the reference shall be considered to be made to a section or other
provision of the Internal Revenue Code of 1986.
TITLE I--EXTENSION OF CERTAIN EXPIRING PROVISIONS
Subtitle A--Tax Relief and Support for Families and Individuals
SEC. 101. EXCLUSION FROM GROSS INCOME OF DISCHARGE OF QUALIFIED
PRINCIPAL RESIDENCE INDEBTEDNESS.
(a) In General.--Section 108(a)(1)(E) is amended by striking
``January 1, 2018'' each place it appears and inserting ``January 1,
2021''.
(b) Conforming Amendment.--Section 108(h)(2) is amended by
inserting ``and determined without regard to the substitution described
in section 163(h)(3)(F)(i)(II)'' after ``clause (ii) thereof''.
(c) Effective Date.--The amendments made by this section shall
apply to discharges of indebtedness after December 31, 2017.
SEC. 102. TREATMENT OF MORTGAGE INSURANCE PREMIUMS AS QUALIFIED
RESIDENCE INTEREST.
(a) In General.--Section 163(h)(3)(E)(iv)(I) is amended by striking
``December 31, 2017'' and inserting ``December 31, 2020''.
(b) Effective Date.--The amendment made by this section shall apply
to amounts paid or incurred after December 31, 2017.
SEC. 103. REDUCTION IN MEDICAL EXPENSE DEDUCTION FLOOR.
(a) In General.--Section 213(f) is amended to read as follows:
``(f) Temporary Special Rule.--In the case of taxable years
beginning before January 1, 2021, subsection (a) shall be applied with
respect to a taxpayer by substituting `7.5 percent' for `10
percent'.''.
(b) Alternative Minimum Tax.--Section 56(b)(1) is amended by
striking subparagraph (B) and by redesignating subparagraphs (C), (D),
(E), and (F), as subparagraphs (B), (C), (D), and (E), respectively.
(c) Effective Date.--The amendments made by this section shall
apply to taxable years ending after December 31, 2018.
SEC. 104. DEDUCTION OF QUALIFIED TUITION AND RELATED EXPENSES.
(a) In General.--Section 222(e) is amended by striking ``December
31, 2017'' and inserting ``December 31, 2020''.
(b) Effective Date.--The amendment made by this section shall apply
to taxable years beginning after December 31, 2017.
SEC. 105. BLACK LUNG DISABILITY TRUST FUND EXCISE TAX.
(a) In General.--Section 4121(e)(2)(A) is amended by striking
``December 31, 2018'' and inserting ``December 31, 2020''.
(b) Effective Date.--The amendment made by this section shall apply
on and after the first day of the first calendar month beginning after
the date of the enactment of this Act.
Subtitle B--Incentives for Employment, Economic Growth, and Community
Development
SEC. 111. INDIAN EMPLOYMENT CREDIT.
(a) In General.--Section 45A(f) is amended by striking ``December
31, 2017'' and inserting ``December 31, 2020''.
(b) Effective Date.--The amendment made by this section shall apply
to taxable years beginning after December 31, 2017.
SEC. 112. RAILROAD TRACK MAINTENANCE CREDIT.
(a) In General.--Section 45G(f) is amended by striking ``January 1,
2018'' and inserting ``January 1, 2021''.
(b) Safe Harbor Assignments.--Any assignment, including related
expenditures paid or incurred, under section 45G(b)(2) of the Internal
Revenue Code of 1986 for a taxable year beginning on or after January
1, 2018, and before January 1, 2019, shall be treated as effective as
of the close of such taxable year if made pursuant to a written
agreement entered into no later than 90 days following the date of the
enactment of this Act.
(c) Effective Date.--The amendment made by this section shall apply
to expenditures paid or incurred during taxable years beginning after
December 31, 2017.
SEC. 113. MINE RESCUE TEAM TRAINING CREDIT.
(a) In General.--Section 45N(e) is amended by striking ``December
31, 2017'' and inserting ``December 31, 2020''.
(b) Effective Date.--The amendment made by this section shall apply
to taxable years beginning after December 31, 2017.
SEC. 114. 7-YEAR RECOVERY PERIOD FOR MOTORSPORTS ENTERTAINMENT
COMPLEXES.
(a) In General.--Section 168(i)(15)(D) is amended by striking
``December 31, 2017'' and inserting ``December 31, 2020''.
(b) Effective Date.--The amendment made by this section shall apply
to property placed in service after December 31, 2017.
SEC. 115. ACCELERATED DEPRECIATION FOR BUSINESS PROPERTY ON INDIAN
RESERVATIONS.
(a) In General.--Section 168(j)(9) is amended by striking
``December 31, 2017'' and inserting ``December 31, 2020''.
(b) Effective Date.--The amendment made by this section shall apply
to property placed in service after December 31, 2017.
SEC. 116. EXPENSING RULES FOR CERTAIN PRODUCTIONS.
(a) In General.--Section 181(g) is amended by striking ``December
31, 2017'' and inserting ``December 31, 2020''.
(b) Effective Date.--The amendment made by this section shall apply
to productions commencing after December 31, 2017.
SEC. 117. EMPOWERMENT ZONE TAX INCENTIVES.
(a) In General.--Section 1391(d)(1)(A)(i) is amended by striking
``December 31, 2017'' and inserting ``December 31, 2020''.
(b) Treatment of Certain Termination Dates Specified in
Nominations.--In the case of a designation of an empowerment zone the
nomination for which included a termination date which is
contemporaneous with the date specified in subparagraph (A)(i) of
section 1391(d)(1) of the Internal Revenue Code of 1986 (as in effect
before the enactment of this Act), subparagraph (B) of such section
shall not apply with respect to such designation if, after the date of
the enactment of this section, the entity which made such nomination
amends the nomination to provide for a new termination date in such
manner as the Secretary of the Treasury (or the Secretary's designee)
may provide.
(c) Effective Date.--The amendment made by subsection (a) shall
apply to taxable years beginning after December 31, 2017.
SEC. 118. AMERICAN SAMOA ECONOMIC DEVELOPMENT CREDIT.
(a) In General.--Section 119(d) of division A of the Tax Relief and
Health Care Act of 2006 is amended--
(1) by striking ``January 1, 2018'' each place it appears
and inserting ``January 1, 2021'',
(2) by striking ``first 12 taxable years'' in paragraph (1)
and inserting ``first 15 taxable years'',
(3) by striking ``first 6 taxable years'' in paragraph (2)
and inserting ``first 9 taxable years'', and
(4) by adding at the end the following flush sentence:
``In the case of a corporation described in subsection (a)(2), the
Internal Revenue Code of 1986 shall be applied and administered without
regard to the amendments made by section 401(d)(1) of the Tax Technical
Corrections Act of 2018.''.
(b) Conforming Amendment.--Section 119(e) of division A of the Tax
Relief and Health Care Act of 2006 is amended by inserting ``(as in
effect before its repeal)'' after ``section 199 of the Internal Revenue
Code of 1986''.
(c) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 2017.
Subtitle C--Incentives for Energy Production, Efficiency, and Green
Economy Jobs
SEC. 121. BIODIESEL AND RENEWABLE DIESEL.
(a) Income Tax Credit.--
(1) In general.--Section 40A(g) is amended by striking
``December 31, 2017'' and inserting ``December 31, 2020''.
(2) Effective date.--The amendment made by this subsection
shall apply to fuel sold or used after December 31, 2017.
(b) Excise Tax Incentives.--
(1) Termination.--
(A) In general.--Section 6426(c)(6) is amended by
striking ``December 31, 2017'' and inserting ``December
31, 2020''.
(B) Payments.--Section 6427(e)(6)(B) is amended by
striking ``December 31, 2017'' and inserting ``December
31, 2020''.
(2) Effective date.--The amendments made by this subsection
shall apply to fuel sold or used after December 31, 2017.
(3) Special rule.--Notwithstanding any other provision of
law, in the case of any biodiesel mixture credit properly
determined under section 6426(c) of the Internal Revenue Code
of 1986 for the period beginning on January 1, 2018, and ending
with the close of the last calendar quarter beginning before
the date of the enactment of this Act, such credit shall be
allowed, and any refund or payment attributable to such credit
(including any payment under section 6427(e) of such Code)
shall be made, only in such manner as the Secretary of the
Treasury (or the Secretary's delegate) shall provide. Such
Secretary shall issue guidance within 30 days after the date of
the enactment of this Act providing for a one-time submission
of claims covering periods described in the preceding sentence.
Such guidance shall provide for a 180-day period for the
submission of such claims (in such manner as prescribed by such
Secretary) to begin not later than 30 days after such guidance
is issued. Such claims shall be paid by such Secretary not
later than 60 days after receipt. If such Secretary has not
paid pursuant to a claim filed under this subsection within 60
days after the date of the filing of such claim, the claim
shall be paid with interest from such date determined by using
the overpayment rate and method under section 6621 of such
Code.
SEC. 122. SECOND GENERATION BIOFUEL PRODUCER CREDIT.
(a) In General.--Section 40(b)(6)(J)(i) is amended by striking
``January 1, 2018'' and inserting ``January 1, 2021''.
(b) Effective Date.--The amendment made by this section shall apply
to qualified second generation biofuel production after December 31,
2017.
SEC. 123. NONBUSINESS ENERGY PROPERTY.
(a) In General.--Section 25C(g)(2) is amended by striking
``December 31, 2017'' and inserting ``December 31, 2020''.
(b) Technical Amendment.--Section 25C(d)(3) is amended--
(1) by striking ``an energy factor of at least 2.0'' in
subparagraph (A) and inserting ``a Uniform Energy Factor of at
least 2.2'', and
(2) by striking ``an energy factor'' in subparagraph (D)
and inserting ``a Uniform Energy Factor''.
(c) Effective Date.--The amendments made by this section shall
apply to property placed in service after December 31, 2017.
SEC. 124. QUALIFIED FUEL CELL MOTOR VEHICLES.
(a) In General.--Section 30B(k)(1) is amended by striking
``December 31, 2017'' and inserting ``December 31, 2020''.
(b) Effective Date.--The amendment made by this section shall apply
to property purchased after December 31, 2017.
SEC. 125. ALTERNATIVE FUEL REFUELING PROPERTY CREDIT.
(a) In General.--Section 30C(g) is amended by striking ``December
31, 2017'' and inserting ``December 31, 2020''.
(b) Effective Date.--The amendment made by this section shall apply
to property placed in service after December 31, 2017.
SEC. 126. 2-WHEELED PLUG-IN ELECTRIC VEHICLE CREDIT.
(a) In General.--Section 30D(g)(3)(E)(ii) is amended by striking
``January 1, 2018'' and inserting ``January 1, 2021''.
(b) Effective Date.--The amendment made by this section shall apply
to vehicles acquired after December 31, 2017.
SEC. 127. CREDIT FOR ELECTRICITY PRODUCED FROM CERTAIN RENEWABLE
RESOURCES.
(a) In General.--The following provisions of section 45(d) are each
amended by striking ``January 1, 2018'' each place it appears and
inserting ``January 1, 2021'':
(1) Paragraph (2)(A).
(2) Paragraph (3)(A).
(3) Paragraph (4)(B).
(4) Paragraph (6).
(5) Paragraph (7).
(6) Paragraph (9).
(7) Paragraph (11)(B).
(b) Extension of Election to Treat Qualified Facilities as Energy
Property.--Section 48(a)(5)(C)(ii) is amended by striking ``January 1,
2018 (January 1, 2020, in the case of any facility which is described
in paragraph (1) of section 45(d))'' and inserting ``January 1, 2021''.
(c) Application of Extension to Wind Facilities.--
(1) In general.--Section 45(d)(1) is amended by striking
``January 1, 2020'' and inserting ``January 1, 2021''.
(2) Application of phaseout percentage.--Sections
45(b)(5)(C) and 48(a)(5)(E)(iii) are each amended by striking
``and before January 1, 2020,''.
(d) Effective Date.--The amendments made by this section shall take
effect on January 1, 2018.
SEC. 128. PRODUCTION CREDIT FOR INDIAN COAL FACILITIES.
(a) In General.--Section 45(e)(10)(A) is amended by striking ``12-
year period'' each place it appears and inserting ``15-year period''.
(b) Effective Date.--The amendment made by this section shall apply
to coal produced after December 31, 2017.
SEC. 129. ENERGY EFFICIENT HOMES CREDIT.
(a) In General.--Section 45L(g) is amended by striking ``December
31, 2017'' and inserting ``December 31, 2020''.
(b) Effective Date.--The amendment made by this section shall apply
to homes acquired after December 31, 2017.
SEC. 130. SPECIAL ALLOWANCE FOR SECOND GENERATION BIOFUEL PLANT
PROPERTY.
(a) In General.--Section 168(l)(2)(D) is amended by striking
``January 1, 2018'' and inserting ``January 1, 2021''.
(b) Effective Date.--The amendment made by this section shall apply
to property placed in service after December 31, 2017.
SEC. 131. ENERGY EFFICIENT COMMERCIAL BUILDINGS DEDUCTION.
(a) In General.--Section 179D(h) is amended by striking ``December
31, 2017'' and inserting ``December 31, 2020''.
(b) Effective Dates.--The amendment made by subsection (a) shall
apply to property placed in service after December 31, 2017.
SEC. 132. SPECIAL RULE FOR SALES OR DISPOSITIONS TO IMPLEMENT FERC OR
STATE ELECTRIC RESTRUCTURING POLICY FOR QUALIFIED
ELECTRIC UTILITIES.
(a) In General.--Section 451(k)(3) is amended by striking ``January
1, 2018'' and inserting ``January 1, 2021''.
(b) Effective Date.--The amendment made by this section shall apply
to dispositions after December 31, 2017.
SEC. 133. EXTENSION AND CLARIFICATION OF EXCISE TAX CREDITS RELATING TO
ALTERNATIVE FUELS.
(a) Extension.--
(1) In general.--Sections 6426(d)(5) and 6426(e)(3) are
each amended by striking ``December 31, 2017'' and inserting
``December 31, 2020''.
(2) Outlay payments for alternative fuels.--Section
6427(e)(6)(C) is amended by striking ``December 31, 2017'' and
inserting ``December 31, 2020''.
(3) Special rule.--Notwithstanding any other provision of
law, in the case of any alternative fuel credit properly
determined under section 6426(d) of the Internal Revenue Code
of 1986 for the period beginning on January 1, 2018, and ending
with the close of the last calendar quarter beginning before
the date of the enactment of this Act, such credit shall be
allowed, and any refund or payment attributable to such credit
(including any payment under section 6427(e) of such Code)
shall be made, only in such manner as the Secretary of the
Treasury (or the Secretary's delegate) shall provide. Such
Secretary shall issue guidance within 30 days after the date of
the enactment of this Act providing for a one-time submission
of claims covering periods described in the preceding sentence.
Such guidance shall provide for a 180-day period for the
submission of such claims (in such manner as prescribed by such
Secretary) to begin not later than 30 days after such guidance
is issued. Such claims shall be paid by such Secretary not
later than 60 days after receipt. If such Secretary has not
paid pursuant to a claim filed under this subsection within 60
days after the date of the filing of such claim, the claim
shall be paid with interest from such date determined by using
the overpayment rate and method under section 6621 of such
Code.
(4) Effective date.--The amendments made by this subsection
shall apply to fuel sold or used after December 31, 2017.
(b) Clarification of Rules Regarding Alternative Fuel Mixture
Credit.--
(1) In general.--Paragraph (2) of section 6426(e) is
amended by striking ``mixture of alternative fuel'' and
inserting ``mixture of alternative fuel (other than a fuel
described in subparagraph (A), (C), or (F) of subsection
(d)(2))''.
(2) Effective date.--The amendment made by this section
shall apply to--
(A) fuel sold or used on or after the date of the
enactment of this Act, and
(B) fuel sold or used before such date of
enactment, but only to the extent that credits and
claims of credit under section 6426(e) of the Internal
Revenue Code of 1986 with respect to such sale or use
have not been paid or allowed as of such date.
SEC. 134. OIL SPILL LIABILITY TRUST FUND RATE.
(a) In General.--Section 4611(f)(2) is amended by striking
``December 31, 2018'' and inserting ``December 31, 2020''.
(b) Effective Date.--The amendment made by this section shall apply
on and after the first day of the first calendar month beginning after
the date of the enactment of this Act.
Subtitle D--Certain Provisions Expiring at the End of 2019
SEC. 141. NEW MARKETS TAX CREDIT.
(a) In General.--Section 45D(f)(1) is amended by striking ``and''
at the end of subparagraph (F), by striking the period at the end of
subparagraph (G) and inserting ``, and'', and by adding at the end the
following new subparagraph:
``(H) $5,000,000,000 for 2020.''.
(b) Carryover of Unused Limitation.--Section 45D(f)(3) is amended
by striking ``2024'' and inserting ``2025''.
(c) Effective Date.--The amendments made by this section shall
apply to calendar years beginning after December 31, 2019.
SEC. 142. EMPLOYER CREDIT FOR PAID FAMILY AND MEDICAL LEAVE.
(a) In General.--Section 45S(i) is amended by striking ``December
31, 2019'' and inserting ``December 31, 2020''.
(b) Effective Date.--The amendment made by this section shall apply
to wages paid in taxable years beginning after December 31, 2019.
SEC. 143. WORK OPPORTUNITY CREDIT.
(a) In General.--Section 51(c)(4) is amended by striking ``December
31, 2019'' and inserting ``December 31, 2020''.
(b) Effective Date.--The amendment made by this section shall apply
to individuals who begin work for the employer after December 31, 2019.
SEC. 144. CERTAIN PROVISIONS RELATED TO BEER, WINE, AND DISTILLED
SPIRITS.
(a) Exemption for Aging Process of Beer, Wine, and Distilled
Spirits.--
(1) In general.--Section 263A(f)(4)(B) is amended by
striking ``December 31, 2019'' and inserting ``December 31,
2020''.
(2) Effective date.--The amendment made by this subsection
shall apply to interest costs paid or accrued after December
31, 2019.
(b) Reduced Rate of Excise Tax on Beer.--
(1) In general.--Paragraphs (1)(C) and (2)(A) of section
5051(a) are each amended by striking ``January 1, 2020'' and
inserting ``January 1, 2021''.
(2) Effective date.--The amendments made by this subsection
shall apply to beer removed after December 31, 2019.
(c) Transfer of Beer Between Bonded Facilities.--
(1) In general.--Section 5414(b)(3) is amended by striking
``December 31, 2019'' and inserting ``December 31, 2020''.
(2) Effective date.--The amendment made by this subsection
shall apply to calendar quarters beginning after December 31,
2019.
(d) Reduced Rate of Excise Tax on Certain Wine.--
(1) In general.--Section 5041(c)(8)(A) is amended by
striking ``January 1, 2020'' and inserting ``January 1, 2021''.
(2) Conforming amendment.--The heading of section
5041(c)(8) is amended by striking ``Special rule for 2018 and
2019'' and inserting ``Temporary special rule''.
(3) Effective date.--The amendments made by this subsection
shall apply to wine removed after December 31, 2019.
(e) Adjustment of Alcohol Content Level for Application of Excise
Taxes.--
(1) In general.--Paragraphs (1) and (2) of section 5041(b)
are each amended by striking ``January 1, 2020'' and inserting
``January 1, 2021''.
(2) Effective date.--The amendments made by this subsection
shall apply to wine removed after December 31, 2019.
(f) Definition of Mead and Low Alcohol by Volume Wine.--
(1) In general.--Section 5041(h)(3) is amended by striking
``December 31, 2019'' and inserting ``December 31, 2020''.
(2) Effective date.--The amendment made by this subsection
shall apply to wine removed after December 31, 2019.
(g) Reduced Rate of Excise Tax on Certain Distilled Spirits.--
(1) In general.--Section 5001(c)(4) is amended by striking
``December 31, 2019'' and inserting ``December 31, 2020''.
(2) Conforming amendment.--The heading of section 5001(c)
is amended by striking ``Reduced Rate for 2018 and 2019'' and
inserting ``Temporary Reduced Rate''.
(3) Effective date.--The amendments made by this subsection
shall apply to distilled spirits removed after December 31,
2019.
(h) Bulk Distilled Spirits.--
(1) In general.--Section 5212 is amended by striking
``January 1, 2020'' and inserting ``January 1, 2021''.
(2) Effective date.--The amendment made by this subsection
shall apply to distilled spirits transferred in bond after
December 31, 2019.
(i) Simplification of Rules Regarding Records, Statements, and
Returns.--
(1) In general.--Section 5555(a) is amended by striking
``January 1, 2020'' and inserting ``January 1, 2021''.
(2) Effective date.--The amendment made by this subsection
shall apply to calendar quarters beginning after December 31,
2019.
SEC. 145. LOOK-THRU RULE FOR RELATED CONTROLLED FOREIGN CORPORATIONS.
(a) In General.--Section 954(c)(6)(C) is amended by striking
``January 1, 2020'' and inserting ``January 1, 2021''.
(b) Effective Date.--The amendment made by this section shall apply
to taxable years of foreign corporations beginning after December 31,
2019, and to taxable years of United States shareholders with or within
which such taxable years of foreign corporations end.
SEC. 146. CREDIT FOR HEALTH INSURANCE COSTS OF ELIGIBLE INDIVIDUALS.
(a) In General.--Section 35(b)(1)(B) is amended by striking
``January 1, 2020'' and inserting ``January 1, 2021''.
(b) Effective Date.--The amendment made by this section shall apply
to months beginning after December 31, 2019.
TITLE II--ESTATE AND GIFT TAX
SEC. 201. REDUCTION OF UNIFIED CREDIT AGAINST ESTATE TAX.
(a) In General.--Section 2010(c)(3)(C) is amended by striking
``January 1, 2026'' and inserting ``January 1, 2023''.
(b) Effective Date.--The amendment made by this section shall apply
to estates of decedents dying and gifts made after December 31, 2022.
TITLE III--DISASTER TAX RELIEF
SEC. 301. DEFINITIONS.
For purposes of this title--
(1) Qualified disaster area.--
(A) In general.--The term ``qualified disaster
area'' means any area with respect to which a major
disaster was declared, during the period beginning on
January 1, 2018, and ending on the date which is 60
days after the date of the enactment of this Act, by
the President under section 401 of the Robert T.
Stafford Disaster Relief and Emergency Assistance Act
if the incident period of the disaster with respect to
which such declaration is made begins on or before the
date of the enactment of this Act.
(B) Denial of double benefit.--Such term shall not
include the California wildfire disaster area (as
defined in section 20101 of subdivision 2 of division B
of the Bipartisan Budget Act of 2018).
(2) Qualified disaster zone.--The term ``qualified disaster
zone'' means that portion of any qualified disaster area which
was determined by the President, during the period beginning on
January 1, 2018, and ending on the date which is 60 days after
the date of the enactment of this Act, to warrant individual or
individual and public assistance from the Federal Government
under the Robert T. Stafford Disaster Relief and Emergency
Assistance Act by reason of the qualified disaster with respect
to such disaster area.
(3) Qualified disaster.--The term ``qualified disaster''
means, with respect to any qualified disaster area, the
disaster by reason of which a major disaster was declared with
respect to such area.
(4) Incident period.--The term ``incident period'' means,
with respect to any qualified disaster, the period specified by
the Federal Emergency Management Agency as the period during
which such disaster occurred (except that for purposes of this
title such period shall not be treated as beginning before
January 1, 2018, or ending after the date which is 30 days
after the date of the enactment of this Act).
SEC. 302. SPECIAL DISASTER-RELATED RULES FOR USE OF RETIREMENT FUNDS.
(a) Tax-favored Withdrawals From Retirement Plans.--
(1) In general.--Section 72(t) of the Internal Revenue Code
of 1986 shall not apply to any qualified disaster distribution.
(2) Aggregate dollar limitation.--
(A) In general.--For purposes of this subsection,
the aggregate amount of distributions received by an
individual which may be treated as qualified disaster
distributions for any taxable year shall not exceed the
excess (if any) of--
(i) $100,000, over
(ii) the aggregate amounts treated as
qualified disaster distributions received by
such individual for all prior taxable years.
(B) Treatment of plan distributions.--If a
distribution to an individual would (without regard to
subparagraph (A)) be a qualified disaster distribution,
a plan shall not be treated as violating any
requirement of the Internal Revenue Code of 1986 merely
because the plan treats such distribution as a
qualified disaster distribution, unless the aggregate
amount of such distributions from all plans maintained
by the employer (and any member of any controlled group
which includes the employer) to such individual exceeds
$100,000.
(C) Controlled group.--For purposes of subparagraph
(B), the term ``controlled group'' means any group
treated as a single employer under subsection (b), (c),
(m), or (o) of section 414 of the Internal Revenue Code
of 1986.
(D) Special rule for individuals affected by more
than one disaster.--The limitation of subparagraph (A)
shall be applied separately with respect to
distributions made with respect to each qualified
disaster.
(3) Amount distributed may be repaid.--
(A) In general.--Any individual who receives a
qualified disaster distribution may, at any time during
the 3-year period beginning on the day after the date
on which such distribution was received, make 1 or more
contributions in an aggregate amount not to exceed the
amount of such distribution to an eligible retirement
plan of which such individual is a beneficiary and to
which a rollover contribution of such distribution
could be made under section 402(c), 403(a)(4),
403(b)(8), 408(d)(3), or 457(e)(16), of the Internal
Revenue Code of 1986, as the case may be.
(B) Treatment of repayments of distributions from
eligible retirement plans other than iras.--For
purposes of the Internal Revenue Code of 1986, if a
contribution is made pursuant to subparagraph (A) with
respect to a qualified disaster distribution from an
eligible retirement plan other than an individual
retirement plan, then the taxpayer shall, to the extent
of the amount of the contribution, be treated as having
received the qualified disaster distribution in an
eligible rollover distribution (as defined in section
402(c)(4) of such Code) and as having transferred the
amount to the eligible retirement plan in a direct
trustee to trustee transfer within 60 days of the
distribution.
(C) Treatment of repayments of distributions from
iras.--For purposes of the Internal Revenue Code of
1986, if a contribution is made pursuant to
subparagraph (A) with respect to a qualified disaster
distribution from an individual retirement plan (as
defined by section 7701(a)(37) of such Code), then, to
the extent of the amount of the contribution, the
qualified disaster distribution shall be treated as a
distribution described in section 408(d)(3) of such
Code and as having been transferred to the eligible
retirement plan in a direct trustee to trustee transfer
within 60 days of the distribution.
(4) Definitions.--For purposes of this subsection--
(A) Qualified disaster distribution.--Except as
provided in paragraph (2), the term ``qualified
disaster distribution'' means any distribution from an
eligible retirement plan made--
(i) on or after the first day of the
incident period of a qualified disaster and
before the date which is 180 days after the
date of the enactment of this Act, and
(ii) to an individual whose principal place
of abode at any time during the incident period
of such qualified disaster is located in the
qualified disaster area with respect to such
qualified disaster and who has sustained an
economic loss by reason of such qualified
disaster.
(B) Eligible retirement plan.--The term ``eligible
retirement plan'' shall have the meaning given such
term by section 402(c)(8)(B) of the Internal Revenue
Code of 1986.
(5) Income inclusion spread over 3-year period.--
(A) In general.--In the case of any qualified
disaster distribution, unless the taxpayer elects not
to have this paragraph apply for any taxable year, any
amount required to be included in gross income for such
taxable year shall be so included ratably over the 3-
taxable-year period beginning with such taxable year.
(B) Special rule.--For purposes of subparagraph
(A), rules similar to the rules of subparagraph (E) of
section 408A(d)(3) of the Internal Revenue Code of 1986
shall apply.
(6) Special rules.--
(A) Exemption of distributions from trustee to
trustee transfer and withholding rules.--For purposes
of sections 401(a)(31), 402(f), and 3405 of the
Internal Revenue Code of 1986, qualified disaster
distributions shall not be treated as eligible rollover
distributions.
(B) Qualified disaster distributions treated as
meeting plan distribution requirements.--For purposes
the Internal Revenue Code of 1986, a qualified disaster
distribution shall be treated as meeting the
requirements of sections 401(k)(2)(B)(i),
403(b)(7)(A)(ii), 403(b)(11), and 457(d)(1)(A) of such
Code.
(b) Recontributions of Withdrawals for Home Purchases.--
(1) Recontributions.--
(A) In general.--Any individual who received a
qualified distribution may, during the applicable
period, make 1 or more contributions in an aggregate
amount not to exceed the amount of such qualified
distribution to an eligible retirement plan (as defined
in section 402(c)(8)(B) of the Internal Revenue Code of
1986) of which such individual is a beneficiary and to
which a rollover contribution of such distribution
could be made under section 402(c), 403(a)(4),
403(b)(8), or 408(d)(3), of such Code, as the case may
be.
(B) Treatment of repayments.--Rules similar to the
rules of subparagraphs (B) and (C) of subsection (a)(3)
shall apply for purposes of this subsection.
(2) Qualified distribution.--For purposes of this
subsection, the term ``qualified distribution'' means any
distribution--
(A) described in section 401(k)(2)(B)(i)(IV),
403(b)(7)(A)(ii) (but only to the extent such
distribution relates to financial hardship),
403(b)(11)(B), or 72(t)(2)(F), of the Internal Revenue
Code of 1986,
(B) which was to be used to purchase or construct a
principal residence in a qualified disaster area, but
which was not so used on account of the qualified
disaster with respect to such area, and
(C) which was received during the period beginning
on the date which is 180 days before the first day of
the incident period of such qualified disaster and
ending on the date which is 30 days after the last day
of such incident period.
(3) Applicable period.--For purposes of this subsection,
the term ``applicable period'' means, in the case of a
principal residence in a qualified disaster area with respect
to any qualified disaster, the period beginning on the first
day of the incident period of such qualified disaster and
ending on the date which is 180 days after the date of the
enactment of this Act.
(c) Loans From Qualified Plans.--
(1) Increase in limit on loans not treated as
distributions.--In the case of any loan from a qualified
employer plan (as defined under section 72(p)(4) of the
Internal Revenue Code of 1986) to a qualified individual made
during the 180-day period beginning on the date of the
enactment of this Act--
(A) clause (i) of section 72(p)(2)(A) of such Code
shall be applied by substituting ``$100,000'' for
``$50,000'', and
(B) clause (ii) of such section shall be applied by
substituting ``the present value of the nonforfeitable
accrued benefit of the employee under the plan'' for
``one-half of the present value of the nonforfeitable
accrued benefit of the employee under the plan''.
(2) Delay of repayment.--In the case of a qualified
individual (with respect to any qualified disaster) with an
outstanding loan (on or after the first day of the incident
period of such qualified disaster) from a qualified employer
plan (as defined in section 72(p)(4) of the Internal Revenue
Code of 1986)--
(A) if the due date pursuant to subparagraph (B) or
(C) of section 72(p)(2) of such Code for any repayment
with respect to such loan occurs during the period
beginning on the first day of the incident period of
such qualified disaster and ending on the date which is
180 days after the last day of such incident period,
such due date shall be delayed for 1 year (or, if
later, until the date which is 180 days after the date
of the enactment of this Act),
(B) any subsequent repayments with respect to any
such loan shall be appropriately adjusted to reflect
the delay in the due date under subparagraph (A) and
any interest accruing during such delay, and
(C) in determining the 5-year period and the term
of a loan under subparagraph (B) or (C) of section
72(p)(2) of such Code, the period described in
subparagraph (A) of this paragraph shall be
disregarded.
(3) Qualified individual.--For purposes of this subsection,
the term ``qualified individual'' means any individual--
(A) whose principal place of abode at any time
during the incident period of any qualified disaster is
located in the qualified disaster area with respect to
such qualified disaster, and
(B) who has sustained an economic loss by reason of
such qualified disaster.
(d) Provisions Relating to Plan Amendments.--
(1) In general.--If this subsection applies to any
amendment to any plan or annuity contract, such plan or
contract shall be treated as being operated in accordance with
the terms of the plan during the period described in paragraph
(2)(B)(i).
(2) Amendments to which subsection applies.--
(A) In general.--This subsection shall apply to any
amendment to any plan or annuity contract which is
made--
(i) pursuant to any provision of this
section, or pursuant to any regulation issued
by the Secretary or the Secretary of Labor
under any provision of this section, and
(ii) on or before the last day of the first
plan year beginning on or after January 1,
2020, or such later date as the Secretary may
prescribe.
In the case of a governmental plan (as defined in
section 414(d) of the Internal Revenue Code of 1986),
clause (ii) shall be applied by substituting the date
which is 2 years after the date otherwise applied under
clause (ii).
(B) Conditions.--This subsection shall not apply to
any amendment unless--
(i) during the period--
(I) beginning on the date that this
section or the regulation described in
subparagraph (A)(i) takes effect (or in
the case of a plan or contract
amendment not required by this section
or such regulation, the effective date
specified by the plan), and
(II) ending on the date described
in subparagraph (A)(ii) (or, if
earlier, the date the plan or contract
amendment is adopted),
the plan or contract is operated as if such plan or
contract amendment were in effect, and
(ii) such plan or contract amendment
applies retroactively for such period.
SEC. 303. EMPLOYEE RETENTION CREDIT FOR EMPLOYERS AFFECTED BY QUALIFIED
DISASTERS.
(a) In General.--For purposes of section 38 of the Internal Revenue
Code of 1986, in the case of an eligible employer, the 2018 qualified
disaster employee retention credit shall be treated as a credit listed
at the end of subsection (b) of such section. For purposes of this
subsection, the 2018 qualified disaster employee retention credit for
any taxable year is an amount equal to 40 percent of the qualified
wages with respect to each eligible employee of such employer for such
taxable year. The amount of qualified wages with respect to any
employee which may be taken into account under this subsection by the
employer for any taxable year shall not exceed $6,000 (reduced by the
amount of qualified wages with respect to such employee which may be so
taken into account for any prior taxable year).
(b) Definitions.--For purposes of this section--
(1) Eligible employer.--The term ``eligible employer''
means any employer--
(A) which conducted an active trade or business in
a qualified disaster zone at any time during the
incident period of the qualified disaster with respect
to such qualified disaster zone, and
(B) with respect to whom the trade or business
described in subparagraph (A) is inoperable at any time
during the period beginning on the first day of the
incident period of such qualified disaster and ending
on the date of the enactment of this Act, as a result
of damage sustained by reason of such qualified
disaster.
(2) Eligible employee.--The term ``eligible employee''
means with respect to an eligible employer an employee whose
principal place of employment with such eligible employer
(determined immediately before the qualified disaster referred
to in paragraph (1)) was in the qualified disaster zone
referred to in such paragraph.
(3) Qualified wages.--The term ``qualified wages'' means
wages (as defined in section 51(c)(1) of the Internal Revenue
Code of 1986, but without regard to section 3306(b)(2)(B) of
such Code) paid or incurred by an eligible employer with
respect to an eligible employee at any time on or after the
date on which the trade or business described in paragraph (1)
first became inoperable at the principal place of employment of
the employee (determined immediately before the qualified
disaster referred to in such paragraph) and before the earlier
of--
(A) the date on which such trade or business has
resumed significant operations at such principal place
of employment, or
(B) the date which 150 days after the last day of
the incident period of the qualified disaster referred
to in paragraph (1).
Such term shall include wages paid without regard to whether
the employee performs no services, performs services at a
different place of employment than such principal place of
employment, or performs services at such principal place of
employment before significant operations have resumed.
(c) Certain Rules to Apply.--For purposes of this subsection, rules
similar to the rules of sections 51(i)(1), 52, and 280C(a), of the
Internal Revenue Code of 1986, shall apply.
(d) Employee Not Taken Into Account More Than Once.--An employee
shall not be treated as an eligible employee for purposes of this
subsection for any period with respect to any employer if such employer
is allowed a credit under section 51 of the Internal Revenue Code of
1986 with respect to such employee for such period.
SEC. 304. OTHER DISASTER-RELATED TAX RELIEF PROVISIONS.
(a) Temporary Increase in Limitation on Qualified Contributions.--
(1) Suspension of current limitation.--Except as otherwise
provided in paragraph (2), qualified contributions shall be
disregarded in applying subsections (b) and (d) of section 170
of the Internal Revenue Code of 1986.
(2) Application of increased limitation.--For purposes of
section 170 of the Internal Revenue Code of 1986--
(A) Individuals.--In the case of an individual--
(i) Limitation.--Any qualified contribution
shall be allowed as a deduction only to the
extent that the aggregate of such contributions
does not exceed the excess of the taxpayer's
contribution base (as defined in subparagraph
(H) of section 170(b)(1) of such Code) over the
amount of all other charitable contributions
allowed under section 170(b)(1) of such Code.
(ii) Carryover.--If the aggregate amount of
qualified contributions made in the
contribution year (within the meaning of
section 170(d)(1) of such Code) exceeds the
limitation of clause (i), such excess shall be
added to the excess described in section
170(b)(1)(G)(ii).
(B) Corporations.--In the case of a corporation--
(i) Limitation.--Any qualified contribution
shall be allowed as a deduction only to the
extent that the aggregate of such contributions
does not exceed the excess of the taxpayer's
taxable income (as determined under paragraph
(2) of section 170(b) of such Code) over the
amount of all other charitable contributions
allowed under such paragraph.
(ii) Carryover.--If the aggregate amount of
qualified contributions made in the
contribution year (within the meaning of
section 170(d)(2) of such Code) exceeds the
limitation of clause (i), such excess shall be
appropriately taken into account under section
170(d)(2) subject to the limitations thereof.
(3) Qualified contributions.--
(A) In general.--For purposes of this subsection,
the term ``qualified contribution'' means any
charitable contribution (as defined in section 170(c)
of the Internal Revenue Code of 1986) if--
(i) such contribution--
(I) is paid, during the period
beginning on January 1, 2018, and
ending on the date which is 60 days
after the date of the enactment of this
Act, in cash to an organization
described in section 170(b)(1)(A) of
such Code, and
(II) is made for relief efforts in
one or more qualified disaster areas,
(ii) the taxpayer obtains from such
organization contemporaneous written
acknowledgment (within the meaning of section
170(f)(8) of such Code) that such contribution
was used (or is to be used) for relief efforts
described in clause (i)(II), 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) of the Internal Revenue Code of 1986,
or
(ii) for the establishment of a new, or
maintenance of an existing, donor advised fund
(as defined in section 4966(d)(2) of such
Code).
(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.
(b) Special Rules for Qualified Disaster-related Personal Casualty
Losses.--
(1) In general.--If an individual has a net disaster loss
for any taxable year--
(A) the amount determined under section
165(h)(2)(A)(ii) of the Internal Revenue Code of 1986
shall be equal to the sum of--
(i) such net disaster loss, and
(ii) so much of the excess referred to in
the matter preceding clause (i) of section
165(h)(2)(A) of such Code (reduced by the
amount in clause (i) of this subparagraph) as
exceeds 10 percent of the adjusted gross income
of the individual,
(B) section 165(h)(1) of such Code shall be applied
by substituting ``$500'' for ``$500 ($100 for taxable
years beginning after December 31, 2009)'',
(C) the standard deduction determined under section
63(c) of such Code shall be increased by the net
disaster loss, and
(D) section 56(b)(1)(E) of such Code shall not
apply to so much of the standard deduction as is
attributable to the increase under subparagraph (C) of
this paragraph.
(2) Net disaster loss.--For purposes of this subsection,
the term ``net disaster loss'' means the excess of qualified
disaster-related personal casualty losses over personal
casualty gains (as defined in section 165(h)(3)(A) of the
Internal Revenue Code of 1986).
(3) Qualified disaster-related personal casualty losses.--
For purposes of this subsection, the term ``qualified disaster-
related personal casualty losses'' means losses described in
section 165(c)(3) of the Internal Revenue Code of 1986 which
arise in a qualified disaster area on or after the first day of
the incident period of the qualified disaster to which such
area relates, and which are attributable to such qualified
disaster.
(c) Special Rule for Determining Earned Income.--
(1) In general.--In the case of a qualified individual, if
the earned income of the taxpayer for the applicable taxable
year is less than the earned income of the taxpayer for the
preceding taxable year, the credits allowed under sections
24(d) and 32 of the Internal Revenue Code of 1986 may, at the
election of the taxpayer, be determined by substituting--
(A) such earned income for the preceding taxable
year, for
(B) such earned income for the applicable taxable
year.
(2) Qualified individual.--For purposes of this
subsection--
(A) In general.--The term ``qualified individual''
means any individual whose principal place of abode at
any time during the incident period of any qualified
disaster was located--
(i) in the qualified disaster zone with
respect to such qualified disaster, or
(ii) in the qualified disaster area with
respect to such qualified disaster (but outside
the qualified disaster zone with respect to
such qualified disaster) and such individual
was displaced from such principal place of
abode by reason of such qualified disaster.
(B) Hurricane sandy.--The term ``qualified
individual'' includes any individual whose principal
place of abode at any time during the period beginning
on October 29, 2012, and ending on November 3, 2012,
was located--
(i) in that portion of the area described
in clause (ii) which was determined by the
President to warrant individual or individual
and public assistance from the Federal
Government under the Robert T. Stafford
Disaster Relief and Emergency Assistance Act by
reason of Hurricane Sandy, or
(ii) in the area with respect to which a
major disaster was declared by the President
under section 401 of the Robert T. Stafford
Disaster Relief and Emergency Assistance Act by
reason of Hurricane Sandy and such individual
was displaced from such principal place of
abode by reason of Hurricane Sandy.
(3) Applicable taxable year.--The term ``applicable taxable
year'' means--
(A) in the case of a qualified individual other
than an individual described in subparagraph (B), any
taxable year which includes any portion of the incident
period of the qualified disaster to which the qualified
disaster area referred to in paragraph (2)(A) relates,
or
(B) in the case of a qualified individual described
in subparagraph (B) of paragraph (2), any taxable year
which includes any portion of the period described in
such subparagraph.
(4) Earned income.--For purposes of this subsection, the
term ``earned income'' has the meaning given such term under
section 32(c) of the Internal Revenue Code of 1986.
(5) Special rules.--
(A) Application to joint returns.--For purposes of
paragraph (1), in the case of a joint return for an
applicable taxable year--
(i) such paragraph shall apply if either
spouse is a qualified individual, and
(ii) the earned income of the taxpayer for
the preceding taxable year shall be the sum of
the earned income of each spouse for such
preceding taxable year.
(B) Uniform application of election.--Any election
made under paragraph (1) shall apply with respect to
both sections 24(d) and 32 of the Internal Revenue Code
of 1986.
(C) Errors treated as mathematical error.--For
purposes of section 6213 of the Internal Revenue Code
of 1986, an incorrect use on a return of earned income
pursuant to paragraph (1) shall be treated as a
mathematical or clerical error.
(D) No effect on determination of gross income,
etc.--Except as otherwise provided in this subsection,
the Internal Revenue Code of 1986 shall be applied
without regard to any substitution under paragraph (1).
(E) Extension of period of limitation for certain
individuals affected by hurricane sandy.--
(i) In general.--In the case of an
individual described in paragraph (2)(B), the
period of limitation prescribed by section
6511(a) of the Internal Revenue Code of 1986
for any applicable taxable year shall be
extended until the date prescribed by law
(including extensions) for filing the return of
tax for the taxable year that includes the date
of the enactment of this Act, and section
6511(b)(2) of such Code shall not apply to any
claim of credit or refund with respect to the
return for such applicable tax year.
(ii) Amendments, etc. restricted to changes
to earned income.--Clause (i) shall apply only
with respect to amendments to the return of
tax, and claims for credit or refund, relating
to a change in the earned income of the
individual.
SEC. 305. AUTOMATIC EXTENSION OF FILING DEADLINES IN CASE OF CERTAIN
TAXPAYERS AFFECTED BY FEDERALLY DECLARED DISASTERS.
(a) In General.--Section 7508A is amended by adding at the end the
following new subsection:
``(d) Mandatory 60-day Extension.--
``(1) In general.--In the case of any qualified taxpayer,
the period--
``(A) beginning on the earliest incident date
specified in the declaration to which the disaster area
referred to in paragraph (2) relates, and
``(B) ending on the date which is 60 days after the
latest incident date so specified,
shall be disregarded in the same manner as a period specified
under subsection (a).
``(2) Qualified taxpayer.--For purposes of this subsection,
the term `qualified taxpayer' means--
``(A) any individual whose principal residence (for
purposes of section 1033(h)(4)) is located in a
disaster area,
``(B) any taxpayer if the taxpayer's principal
place of business (other than the business of
performing services as an employee) is located in a
disaster area,
``(C) any individual who is a relief worker
affiliated with a recognized government or
philanthropic organization and who is assisting in a
disaster area,
``(D) any taxpayer whose records necessary to meet
a deadline for an act described in section 7508(a)(1)
are maintained in a disaster area,
``(E) any individual visiting a disaster area who
was killed or injured as a result of the disaster, and
``(F) solely with respect to a joint return, any
spouse of an individual described in any preceding
subparagraph of this paragraph.
``(3) Disaster area.--For purposes of this subsection, the
term `disaster area' has the meaning given such term under
subparagraph (B) of section 165(i)(5) with respect to a
Federally declared disaster (as defined in subparagraph (A) of
such section).
``(4) Application to rules regarding pensions.--In the case
of any person described in subsection (b), a rule similar to
the rule of paragraph (1) shall apply for purposes of
subsection (b) with respect to--
``(A) making contributions to a qualified
retirement plan (within the meaning of section 4974(c))
under section 219(f)(3), 404(a)(6), 404(h)(1)(B), or
404(m)(2),
``(B) making distributions under section 408(d)(4),
``(C) recharacterizing contributions under section
408A(d)(6), and
``(D) making a rollover under section 402(c),
403(a)(4), 403(b)(8), or 408(d)(3).
``(5) Coordination with periods specified by the
secretary.--Any period described in paragraph (1) with respect
to any person (including by reason of the application of
paragraph (4)) shall be in addition to (or concurrent with, as
the case may be) any period specified under subsection (a) or
(b) with respect to such person.''.
(b) Effective Date.--The amendment made by this section shall apply
to federally declared disasters declared after the date of the
enactment of this Act.
SEC. 306. MODIFICATION OF THE TAX RATE FOR THE EXCISE TAX ON INVESTMENT
INCOME OF PRIVATE FOUNDATIONS.
(a) In General.--Section 4940(a) is amended by striking ``2
percent'' and inserting ``1.39 percent''.
(b) Elimination of Reduced Tax Where Foundation Meets Certain
Distribution Requirements.--Section 4940 of such Code is amended by
striking subsection (e).
(c) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after the date of the enactment of
this Act.
SEC. 307. ADDITIONAL LOW-INCOME HOUSING CREDIT ALLOCATIONS FOR
QUALIFIED 2017 AND 2018 CALIFORNIA DISASTER AREAS.
(a) In General.--For purposes of section 42 of the Internal Revenue
Code of 1986, the State housing credit ceiling for California for
calendar year 2019 shall be increased by the lesser of--
(1) the aggregate housing credit dollar amount allocated by
the State housing credit agencies of California for such
calendar year to buildings located in qualified 2017 and 2018
California disaster areas, or
(2) 50 percent of the sum of the State housing credit
ceilings for California for calendar years 2017 and 2018.
(b) Allocations Treated as Made First From Additional Allocation
for Purposes of Determining Carryover.--For purposes of determining the
unused State housing credit ceiling for any calendar year under section
42(h)(3)(C) of the Internal Revenue Code of 1986, any increase in the
State housing credit ceiling under subsection (a) shall be treated as
an amount described in clause (ii) of such section.
(c) Definitions.--For purposes of this section--
(1) Qualified 2017 and 2018 california disaster areas.--The
term ``qualified 2017 and 2018 California disaster areas''
means any area in California which was determined by the
President (before January 1, 2019) to warrant individual or
individual and public assistance from the Federal Government
under the Robert T. Stafford Disaster Relief and Emergency
Assistance Act by reason of a major disaster the incident
period of which begins or ends in calendar year 2017 or 2018.
Notwithstanding section 301, for purposes of the preceding
sentence, the term ``incident period'' means the period
specified by the Federal Emergency Management Agency as the
period during which the disaster occurred.
(2) Other definitions.--Terms used in this section which
are also used in section 42 of the Internal Revenue Code of
1986 shall have the same meaning in this section as in such
section 42.
SEC. 308. TREATMENT OF CERTAIN POSSESSIONS.
(a) Payments to Possessions With Mirror Code Tax Systems.--The
Secretary of the Treasury shall pay to each possession of the United
States which has a mirror code tax system amounts equal to the loss (if
any) to that possession by reason of the application of the provisions
of this title. Such amounts shall be determined by the Secretary of the
Treasury based on information provided by the government of the
respective possession.
(b) Payments to Other Possessions.--The Secretary of the Treasury
shall pay to each possession of the United States which does not have a
mirror code tax system amounts estimated by the Secretary of the
Treasury as being equal to the aggregate benefits (if any) that would
have been provided to residents of such possession by reason of the
provisions of this title if a mirror code tax system had been in effect
in such possession. The preceding sentence shall not apply unless the
respective possession has a plan, which has been approved by the
Secretary of the Treasury, under which such possession will promptly
distribute such payments to its residents.
(c) Mirror Code Tax System.--For purposes of this section, the term
``mirror code tax system'' means, with respect to any possession of the
United States, the income tax system of such possession if the income
tax liability of the residents of such possession under such system is
determined by reference to the income tax laws of the United States as
if such possession were the United States.
(d) Treatment of Payments.--For purposes of section 1324 of title
31, United States Code, the payments under this section shall be
treated in the same manner as a refund due from a credit provision
referred to in subsection (b)(2) of such section.
Union Calendar No. 300
116th CONGRESS
2d Session
H. R. 3301
[Report No. 116-379]
_______________________________________________________________________
A BILL
To amend the Internal Revenue Code of 1986 to extend certain expiring
provisions, to provide disaster relief, and for other purposes.
_______________________________________________________________________
January 21, 2020
Reported with an amendment, committed to the Committee of the Whole
House on the State of the Union, and ordered to be printed
Taxpayer Certainty and Disaster Tax Relief Act of 2019
#3301 | HR Congress #116
Policy Area: Taxation
Subjects: Alcoholic beveragesAlternative and renewable resourcesAmerican SamoaBusiness expensesBusiness investment and capitalCardiovascular and respiratory healthCharitable contributionsCoalDisaster relief and insuranceEconomic developmentElectric power generation and transmissionEmployee benefits and pensionsEnergy efficiency and conservationFirst responders and emergency personnelGovernment trust fundsGuamHealth care costs and insuranceHousing finance and home ownershipHybrid, electric, and advanced technology vehicles
Last Action: Placed on the Union Calendar, Calendar No. 300. (1/21/2020)
Bill Text Source: Congress.gov
Summary and Impacts
Original Text