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[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2202 Introduced in House (IH)]

108th CONGRESS
  1st Session
                                H. R. 2202

 To amend the Internal Revenue Code of 1986 to provide for the ratable 
inclusion of citrus canker tree payments over a period of 10 years, and 
                          for other purposes.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                              May 21, 2003

Mr. Weldon of Florida 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 provide for the ratable 
inclusion of citrus canker tree payments over a period of 10 years, 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.

    This Act may be cited as the ``Citrus Disaster Payment Fairness 
Act''.

SEC. 2. CITRUS CANKER TREE RELIEF.

    (a) Ratable Inclusion.--
            (1) In general.--Part I of subchapter Q of chapter 1 of the 
        Internal Revenue Code of 1986 (relating to income averaging) is 
        amended by inserting after section 1301 the following new 
        section:

``SEC. 1302. RATABLE INCOME INCLUSION FOR CITRUS CANKER TREE PAYMENTS.

    ``(a) In General.--At the election of the taxpayer, any amount 
taken into account as income or gain by reason of receiving a citrus 
canker tree payment shall be included in the income of the taxpayer 
ratably over the 10-year period beginning with the taxable year in 
which the payment is received or accrued by the taxpayer. Such election 
shall be made on the return of tax for such taxable year in such manner 
as the Secretary prescribes and, once made, shall be irrevocable.
    ``(b) Citrus Canker Tree Payment.--For purposes of subsection (a), 
the term `citrus canker tree payment' means a payment made to an owner 
of a commercial citrus grove to recover income that was lost as a 
result of the removal of commercial citrus trees to control canker 
under the amendments to the citrus canker regulations (7 C.F.R. 301) 
made by the final rule published in the Federal Register by the 
Secretary of Agriculture on June 18, 2001 (66 Fed. Reg. 32713, Docket 
No. 00-37-4).''
            (2) Clerical amendment.--The table of sections for part I 
        of subchapter Q of chapter 1 of such Code is amended by 
        inserting after the item relating to section 1301 the following 
        new item:

                              ``Sec. 1302. Ratable income inclusion for 
                                        citrus canker tree payments.''.
    (b) Expansion of Period Within Which Converted Citrus Tree Property 
Must Be Replaced.--Section 1033 of such Code (relating to period within 
which property must be replaced) is amended by redesignating subsection 
(k) as subsection (l) and by inserting after subsection (j) the 
following new subsection:
    ``(k) Commercial Trees Destroyed Because of Citrus Tree Canker.--In 
the case of commercial citrus trees which are compulsorily or 
involuntarily converted under a public order as a result of the citrus 
tree canker, subsection (a)(2)(B) shall be applied by substituting the 
following for the text of clause (i) thereof: `4 years after the close 
of the first taxable year in which any part of the gain upon conversion 
is realized, or such additional period after the close of such taxable 
year as determined appropriate by the Secretary on a regional basis if 
a State or Federal plant health authority determines with respect to 
such region that the land on which such trees grew is not free from the 
bacteria that causes citrus tree canker'.''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning before, on, or after the date of the 
enactment of this Act.
                                 <all>
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