I

106TH CONGRESS

1ST SESSION H. R. 954

To amend the Internal Revenue Code of 1986 to allow a credit against

income tax for expenses incurred by taxpayers in transporting food

to food banks.

IN THE HOUSE OF REPRESENTATIVES

MARCH 3, 1999

Mr. CAMPBELL introduced the following bill; which was referred to the

Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to allow a

credit against income tax for expenses incurred by taxpayers in transporting food to food banks.

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled,

3 SECTION 1. CREDIT FOR TRANSPORTING FOOD TO FOOD

4 BANKS.

5 (a) IN GENERAL.—Subpart B of part IV of sub6 chapter A of chapter 1 of the Internal Revenue Code of

7 1986 is amended by inserting after section 30A the follow8 ing new section:
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1 ‘‘SEC. 30B. CREDIT FOR TRANSPORTING FOOD TO FOOD

2 BANKS.

3 ‘‘(a) ALLOWANCE OF CREDIT.—There shall be al4 lowed as a credit against the tax imposed by this chapter

5 for the taxable year an amount equal to the amount which

6 would (but for subsection (c)) be allowed as a deduction

7 under section 170 (relating to charitable, etc., contribu8 tions and gifts) to the taxpayer for transporting food to

9 a food bank.

10 ‘‘(b) LIMITATION BASED ON AMOUNT OF TAX.—

11 ‘‘(1) LIABILITY FOR TAX.—The credit allowable

12 under subsection (a) for any taxable year shall not

13 exceed the excess (if any) of—

14 ‘‘(A) the regular tax for the taxable year,

15 reduced by the sum of the credits allowable

16 under subpart A and the preceding sections of

17 this subpart, over

18 ‘‘(B) the tentative minimum tax for the

19 taxable year.

20 ‘‘(2) CARRYFORWARD OF UNUSED CREDIT.—If

21 the amount of the credit allowable under subsection

22 (a) for any taxable year exceeds the limitation under

23 paragraph (1) for the taxable year, the excess shall

24 be carried to the succeeding taxable year and added

25 to the amount allowable as a credit under subsection

26 (a) for such succeeding taxable year.
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1 ‘‘(c) DENIAL OF DOUBLE BENEFIT.—No deduction

2 shall be allowed under section 170 for any amount for

3 which a credit is allowed under this section.’’.

4 (b) CLERICAL AMENDMENT.—The table of sections

5 for subpart B of part IV of subchapter A of chapter 1

6 of such Code is amended by inserting after the item relat7 ing to section 30A the following new item:

‘‘Sec. 30B. Credit for transporting food to food banks.’’

8 (c) EFFECTIVE DATE.—The amendments made by

9 this section shall apply to taxable years beginning after

10 December 31, 1999.

11 (d) REVENUE OFFSET.—

12 (1) MODIFICATION OF RATES OF CORPORATE

13 TAX.—The Secretary of the Treasury shall prescribe

14 rates of tax under section 11 of the Internal Reve15 nue Code of 1986 (relating to tax imposed on cor16 porations) which result in a net increase in revenues

17 for a taxable year equal to the net decrease in reve18 nues for that year as a result of the amendment

19 made by subsection (a).

20 (2) ESTIMATES AND SUBSEQUENT ADJUST21 MENTS.—The rates of tax prescribed under para22 graph (1) shall be determined on the basis of esti23 mates made by the Secretary of the Treasury. Ad24 justments shall be made in such rates for succeeding

25 taxable years to the extent prior estimates resulted
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1 in revenues which were in excess of or less than the

2 revenues required under paragraph (1).

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