PUBLIC LAW 107–134—JAN. 23, 2002 115 STAT. 2427

Public Law 107–134

107th Congress

An Act

To amend the Internal Revenue Code of 1986 to provide tax relief for victims

of the terrorist attacks against the United States, 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 ‘‘Victims of

Terrorism Tax Relief Act of 2001’’.

(b) 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.

(c) TABLE OF CONTENTS.—The table of contents for this Act

is as follows:

Sec. 1. Short title; etc.

TITLE I—VICTIMS OF TERRORISM TAX RELIEF

Subtitle A—Relief Provisions for Victims of Terrorist Attacks

Sec. 101. Income taxes of victims of terrorist attacks.

Sec. 102. Exclusion of certain death benefits.

Sec. 103. Estate tax reduction.

Sec. 104. Payments by charitable organizations treated as exempt payments.

Sec. 105. Exclusion of certain cancellations of indebtedness.

Subtitle B—Other Relief Provisions

Sec. 111. Exclusion for disaster relief payments.

Sec. 112. Authority to postpone certain deadlines and required actions.

Sec. 113. Application of certain provisions to terroristic or military actions.

Sec. 114. Clarification of due date for airline excise tax deposits.

Sec. 115. Treatment of certain structured settlement payments.

Sec. 116. Personal exemption deduction for certain disability trusts.

TITLE II—DISCLOSURE OF TAX INFORMATION IN TERRORISM AND

NATIONAL SECURITY INVESTIGATIONS

Sec. 201. Disclosure of tax information in terrorism and national security investigations.

TITLE III—NO IMPACT ON SOCIAL SECURITY TRUST FUNDS

Sec. 301. No impact on social security trust funds.

26 USC 1 note.

Victims of

Terrorism Tax

Relief Act of

2001.

Jan. 23, 2002

[H.R. 2884]

115 STAT. 2428 PUBLIC LAW 107–134—JAN. 23, 2002

TITLE I—VICTIMS OF TERRORISM TAX

RELIEF

Subtitle A—Relief Provisions for Victims of

Terrorist Attacks

SEC. 101. INCOME TAXES OF VICTIMS OF TERRORIST ATTACKS.

(a) IN GENERAL.—Section 692 (relating to income taxes of members of Armed Forces on death) is amended by adding at the

end the following new subsection: ‘‘(d) INDIVIDUALS DYING AS A RESULT OF CERTAIN ATTACKS.— ‘‘(1) IN GENERAL.—In the case of a specified terrorist victim,

any tax imposed by this chapter shall not apply— ‘‘(A) with respect to the taxable year in which falls

the date of death, and ‘‘(B) with respect to any prior taxable year in the

period beginning with the last taxable year ending before

the taxable year in which the wounds, injury, or illness

referred to in paragraph (3) were incurred.

‘‘(2) $10,000 MINIMUM BENEFIT.—If, but for this paragraph,

the amount of tax not imposed by paragraph (1) with respect

to a specified terrorist victim is less than $10,000, then such

victim shall be treated as having made a payment against

the tax imposed by this chapter for such victim’s last taxable

year in an amount equal to the excess of $10,000 over the

amount of tax not so imposed. ‘‘(3) TAXATION OF CERTAIN BENEFITS.—Subject to such rules

as the Secretary may prescribe, paragraph (1) shall not apply

to the amount of any tax imposed by this chapter which would

be computed by only taking into account the items of income,

gain, or other amounts attributable to— ‘‘(A) deferred compensation which would have been

payable after death if the individual had died other than

as a specified terrorist victim, or ‘‘(B) amounts payable in the taxable year which would

not have been payable in such taxable year but for an

action taken after September 11, 2001.

‘‘(4) SPECIFIED TERRORIST VICTIM.—For purposes of this

subsection, the term ‘specified terrorist victim’ means any

decedent—

‘‘(A) who dies as a result of wounds or injury incurred

as a result of the terrorist attacks against the United

States on April 19, 1995, or September 11, 2001, or ‘‘(B) who dies as a result of illness incurred as a result

of an attack involving anthrax occurring on or after September 11, 2001, and before January 1, 2002.

Such term shall not include any individual identified by the

Attorney General to have been a participant or conspirator

in any such attack or a representative of such an individual.’’.

(b) CONFORMING AMENDMENTS.—

(1) Section 5(b)(1) is amended by inserting ‘‘and victims

of certain terrorist attacks’’ before ‘‘on death’’.

(2) Section 6013(f)(2)(B) is amended by inserting ‘‘and victims of certain terrorist attacks’’ before ‘‘on death’’.

(c) CLERICAL AMENDMENTS.—

26 USC 692.

PUBLIC LAW 107–134—JAN. 23, 2002 115 STAT. 2429

(1) The heading of section 692 is amended to read as

follows:

‘‘SEC. 692. INCOME TAXES OF MEMBERS OF ARMED FORCES AND VICTIMS OF CERTAIN TERRORIST ATTACKS ON DEATH.’’.

(2) The item relating to section 692 in the table of sections

for part II of subchapter J of chapter 1 is amended to read

as follows:

‘‘Sec. 692. Income taxes of members of Armed Forces and victims of certain

terrorist attacks on death.’’.

(d) EFFECTIVE DATE; WAIVER OF LIMITATIONS.—

(1) EFFECTIVE DATE.—The amendments made by this section shall apply to taxable years ending before, on, or after

September 11, 2001.

(2) WAIVER OF LIMITATIONS.—If refund or credit of any

overpayment of tax resulting from the amendments made by

this section is prevented at any time before the close of the

1-year period beginning on the date of the enactment of this

Act by the operation of any law or rule of law (including

res judicata), such refund or credit may nevertheless be made

or allowed if claim therefor is filed before the close of such

period.

SEC. 102. EXCLUSION OF CERTAIN DEATH BENEFITS.

(a) IN GENERAL.—Section 101 (relating to certain death benefits) is amended by adding at the end the following new subsection:

‘‘(i) CERTAIN EMPLOYEE DEATH BENEFITS PAYABLE BY REASON

OF DEATH OF CERTAIN TERRORIST VICTIMS.—

‘‘(1) IN GENERAL.—Gross income does not include amounts

(whether in a single sum or otherwise) paid by an employer

by reason of the death of an employee who is a specified

terrorist victim (as defined in section 692(d)(4)).

‘‘(2) LIMITATION.—

‘‘(A) IN GENERAL.—Subject to such rules as the Secretary may prescribe, paragraph (1) shall not apply to

amounts which would have been payable after death if

the individual had died other than as a specified terrorist

victim (as so defined).

‘‘(B) EXCEPTION.—Subparagraph (A) shall not apply

to incidental death benefits paid from a plan described

in section 401(a) and exempt from tax under section 501(a).

‘‘(3) TREATMENT OF SELF-EMPLOYED INDIVIDUALS.—For purposes of paragraph (1), the term ‘employee’ includes a selfemployed individual (as defined in section 401(c)(1)).’’.

(b) EFFECTIVE DATE; WAIVER OF LIMITATIONS.—

(1) EFFECTIVE DATE.—The amendment made by this section

shall apply to taxable years ending before, on, or after September 11, 2001.

(2) WAIVER OF LIMITATIONS.—If refund or credit of any

overpayment of tax resulting from the amendments made by

this section is prevented at any time before the close of the

1-year period beginning on the date of the enactment of this

Act by the operation of any law or rule of law (including

res judicata), such refund or credit may nevertheless be made

or allowed if claim therefor is filed before the close of such

period.

Applicability.

26 USC 101 note.

Applicability.

26 USC 692 note.

26 USC 692.

115 STAT. 2430 PUBLIC LAW 107–134—JAN. 23, 2002

SEC. 103. ESTATE TAX REDUCTION.

(a) IN GENERAL.—Section 2201 is amended to read as follows:

‘‘SEC. 2201. COMBAT ZONE-RELATED DEATHS OF MEMBERS OF THE

ARMED FORCES AND DEATHS OF VICTIMS OF CERTAIN

TERRORIST ATTACKS.

‘‘(a) IN GENERAL.—Unless the executor elects not to have this

section apply, in applying sections 2001 and 2101 to the estate

of a qualified decedent, the rate schedule set forth in subsection

(c) shall be deemed to be the rate schedule set forth in section

2001(c).

‘‘(b) QUALIFIED DECEDENT.—For purposes of this section, the

term ‘qualified decedent’ means—

‘‘(1) any citizen or resident of the United States dying

while in active service of the Armed Forces of the United

States, if such decedent—

‘‘(A) was killed in action while serving in a combat

zone, as determined under section 112(c), or

‘‘(B) died as a result of wounds, disease, or injury

suffered while serving in a combat zone (as determined

under section 112(c)), and while in the line of duty, by

reason of a hazard to which such decedent was subjected

as an incident of such service, and

‘‘(2) any specified terrorist victim (as defined in section

692(d)(4)).

‘‘(c) RATE SCHEDULE.—

‘‘If the amount with respect to

which the tentative tax to be

computed is:

The tentative tax is:

Not over $150,000 .............................. 1 percent of the amount by which such

amount exceeds $100,000.

Over $150,000 but not over $200,000 $500 plus 2 percent of the excess over

$150,000.

Over $200,000 but not over $300,000 $1,500 plus 3 percent of the excess over

$200,000.

Over $300,000 but not over $500,000 $4,500 plus 4 percent of the excess over

$300,000.

Over $500,000 but not over $700,000 $12,500 plus 5 percent of the excess over

$500,000.

Over $700,000 but not over $900,000 $22,500 plus 6 percent of the excess over

$700,000.

Over $900,000 but not over

$1,100,000.

$34,500 plus 7 percent of the excess over

$900,000.

Over $1,100,000 but not over

$1,600,000.

$48,500 plus 8 percent of the excess over

$1,100,000.

Over $1,600,000 but not over

$2,100,000.

$88,500 plus 9 percent of the excess over

$1,600,000.

Over $2,100,000 but not over

$2,600,000.

$133,500 plus 10 percent of the excess

over $2,100,000.

Over $2,600,000 but not over

$3,100,000.

$183,500 plus 11 percent of the excess

over $2,600,000.

Over $3,100,000 but not over

$3,600,000.

$238,500 plus 12 percent of the excess

over $3,100,000.

Over $3,600,000 but not over

$4,100,000.

$298,500 plus 13 percent of the excess

over $3,600,000.

Over $4,100,000 but not over

$5,100,000.

$363,500 plus 14 percent of the excess

over $4,100,000.

Over $5,100,000 but not over

$6,100,000.

$503,500 plus 15 percent of the excess

over $5,100,000.

Over $6,100,000 but not over

$7,100,000.

$653,500 plus 16 percent of the excess

over $6,100,000.

Over $7,100,000 but not over

$8,100,000.

$813,500 plus 17 percent of the excess

over $7,100,000.

26 USC 2201.

PUBLIC LAW 107–134—JAN. 23, 2002 115 STAT. 2431

‘‘If the amount with respect to

which the tentative tax to be

computed is:

The tentative tax is:

Over $8,100,000 but not over

$9,100,000.

$983,500 plus 18 percent of the excess

over $8,100,000. Over $9,100,000 but not over

$10,100,000.

$1,163,500 plus 19 percent of the excess

over $9,100,000. Over $10,100,000 ............................... $1,353,500 plus 20 percent of the excess

over $10,100,000.

‘‘(d) DETERMINATION OF UNIFIED CREDIT.—In the case of an

estate to which this section applies, subsection (a) shall not apply

in determining the credit under section 2010.’’. (b) CONFORMING AMENDMENTS.— (1) Section 2011 is amended by striking subsection (d)

and by redesignating subsections (e), (f), and (g) as subsections

(d), (e), and (f), respectively.

(2) Section 2053(d)(3)(B) is amended by striking ‘‘section

2011(e)’’ and inserting ‘‘section 2011(d)’’. (3) Paragraph (9) of section 532(c) of the Economic Growth

and Tax Relief Reconciliation Act of 2001 is repealed.

(c) CLERICAL AMENDMENT.—The item relating to section 2201

in the table of sections for subchapter C of chapter 11 is amended

to read as follows:

‘‘Sec. 2201. Combat zone-related deaths of members of the Armed Forces

and deaths of victims of certain terrorist attacks.’’.

(d) EFFECTIVE DATE; WAIVER OF LIMITATIONS.— (1) EFFECTIVE DATE.—The amendments made by this section shall apply to estates of decedents— (A) dying on or after September 11, 2001; and

(B) in the case of individuals dying as a result of

the April 19, 1995, terrorist attack, dying on or after April

19, 1995.

(2) WAIVER OF LIMITATIONS.—If refund or credit of any

overpayment of tax resulting from the amendments made by

this section is prevented at any time before the close of the

1-year period beginning on the date of the enactment of this

Act by the operation of any law or rule of law (including

res judicata), such refund or credit may nevertheless be made

or allowed if claim therefor is filed before the close of such

period.

SEC. 104. PAYMENTS BY CHARITABLE ORGANIZATIONS TREATED AS

EXEMPT PAYMENTS.

(a) IN GENERAL.—For purposes of the Internal Revenue Code

of 1986—

(1) payments made by an organization described in section

501(c)(3) of such Code by reason of the death, injury, wounding,

or illness of an individual incurred as the result of the terrorist

attacks against the United States on September 11, 2001, or

an attack involving anthrax occurring on or after September

11, 2001, and before January 1, 2002, shall be treated as

related to the purpose or function constituting the basis for

such organization’s exemption under section 501 of such Code

if such payments are made in good faith using a reasonable

and objective formula which is consistently applied; and

(2) in the case of a private foundation (as defined in section

509 of such Code), any payment described in paragraph (1)

shall not be treated as made to a disqualified person for purposes of section 4941 of such Code.

Anthrax.

26 USC 501 note.

26 USC 2011

note.

Applicability.

Ante, p. 75.

26 USC 2011.

115 STAT. 2432 PUBLIC LAW 107–134—JAN. 23, 2002

(b) EFFECTIVE DATE.—This section shall apply to payments

made on or after September 11, 2001.

SEC. 105. EXCLUSION OF CERTAIN CANCELLATIONS OF INDEBTEDNESS.

(a) IN GENERAL.—For purposes of the Internal Revenue Code

of 1986—

(1) gross income shall not include any amount which (but

for this section) would be includible in gross income by reason

of the discharge (in whole or in part) of indebtedness of any

taxpayer if the discharge is by reason of the death of an

individual incurred as the result of the terrorist attacks against

the United States on September 11, 2001, or as the result

of illness incurred as a result of an attack involving anthrax

occurring on or after September 11, 2001, and before January

1, 2002; and

(2) return requirements under section 6050P of such Code

shall not apply to any discharge described in paragraph (1).

(b) EFFECTIVE DATE.—This section shall apply to discharges

made on or after September 11, 2001, and before January 1, 2002.

Subtitle B—Other Relief Provisions

SEC. 111. EXCLUSION FOR DISASTER RELIEF PAYMENTS.

(a) IN GENERAL.—Part III of subchapter B of chapter 1 (relating

to items specifically excluded from gross income) is amended by

redesignating section 139 as section 140 and inserting after section

138 the following new section:

‘‘SEC. 139. DISASTER RELIEF PAYMENTS.

‘‘(a) GENERAL RULE.—Gross income shall not include any

amount received by an individual as a qualified disaster relief

payment.

‘‘(b) QUALIFIED DISASTER RELIEF PAYMENT DEFINED.—For purposes of this section, the term ‘qualified disaster relief payment’

means any amount paid to or for the benefit of an individual—

‘‘(1) to reimburse or pay reasonable and necessary personal,

family, living, or funeral expenses incurred as a result of a

qualified disaster,

‘‘(2) to reimburse or pay reasonable and necessary expenses

incurred for the repair or rehabilitation of a personal residence

or repair or replacement of its contents to the extent that

the need for such repair, rehabilitation, or replacement is attributable to a qualified disaster,

‘‘(3) by a person engaged in the furnishing or sale of

transportation as a common carrier by reason of the death

or personal physical injuries incurred as a result of a qualified

disaster, or

‘‘(4) if such amount is paid by a Federal, State, or local

government, or agency or instrumentality thereof, in connection

with a qualified disaster in order to promote the general welfare,

but only to the extent any expense compensated by such payment

is not otherwise compensated for by insurance or otherwise.

‘‘(c) QUALIFIED DISASTER DEFINED.—For purposes of this section, the term ‘qualified disaster’ means—

Applicability.

Anthrax.

26 USC 108 note.

Applicability.

PUBLIC LAW 107–134—JAN. 23, 2002 115 STAT. 2433

‘‘(1) a disaster which results from a terroristic or military

action (as defined in section 692(c)(2)), ‘‘(2) a Presidentially declared disaster (as defined in section

1033(h)(3)),

‘‘(3) a disaster which results from an accident involving

a common carrier, or from any other event, which is determined

by the Secretary to be of a catastrophic nature, or

‘‘(4) with respect to amounts described in subsection (b)(4),

a disaster which is determined by an applicable Federal, State,

or local authority (as determined by the Secretary) to warrant

assistance from the Federal, State, or local government or

agency or instrumentality thereof.

‘‘(d) COORDINATION WITH EMPLOYMENT TAXES.—For purposes

of chapter 2 and subtitle C, a qualified disaster relief payment

shall not be treated as net earnings from self-employment, wages,

or compensation subject to tax. ‘‘(e) NO RELIEF FOR CERTAIN INDIVIDUALS.—Subsections (a) and

(f) shall not apply with respect to any individual identified by

the Attorney General to have been a participant or conspirator

in a terroristic action (as so defined), or a representative of such

individual.

‘‘(f) EXCLUSION OF CERTAIN ADDITIONAL PAYMENTS.—Gross

income shall not include any amount received as payment under

section 406 of the Air Transportation Safety and System Stabilization Act.’’.

(b) CONFORMING AMENDMENTS.—The table of sections for part

III of subchapter B of chapter 1 is amended by striking the item

relating to section 139 and inserting the following new items:

‘‘Sec. 139. Disaster relief payments.

‘‘Sec. 140. Cross references to other Acts.’’.

(c) EFFECTIVE DATE.—The amendments made by this section

shall apply to taxable years ending on or after September 11,

2001.

SEC. 112. AUTHORITY TO POSTPONE CERTAIN DEADLINES AND

REQUIRED ACTIONS.

(a) EXPANSION OF AUTHORITY RELATING TO DISASTERS AND

TERRORISTIC OR MILITARY ACTIONS.—Section 7508A is amended

to read as follows:

‘‘SEC. 7508A. AUTHORITY TO POSTPONE CERTAIN DEADLINES BY REASON OF PRESIDENTIALLY DECLARED DISASTER OR

TERRORISTIC OR MILITARY ACTIONS.

‘‘(a) IN GENERAL.—In the case of a taxpayer determined by

the Secretary to be affected by a Presidentially declared disaster

(as defined in section 1033(h)(3)) or a terroristic or military action

(as defined in section 692(c)(2)), the Secretary may specify a period

of up to 1 year that may be disregarded in determining, under

the internal revenue laws, in respect of any tax liability of such

taxpayer—

‘‘(1) whether any of the acts described in paragraph (1)

of section 7508(a) were performed within the time prescribed

therefor (determined without regard to extension under any

other provision of this subtitle for periods after the date (determined by the Secretary) of such disaster or action),

‘‘(2) the amount of any interest, penalty, additional amount,

or addition to the tax for periods after such date, and

26 USC 7508A.

Applicability.

26 USC 139 note.

115 STAT. 2434 PUBLIC LAW 107–134—JAN. 23, 2002

‘‘(3) the amount of any credit or refund. ‘‘(b) SPECIAL RULES REGARDING PENSIONS, ETC.—In the case

of a pension or other employee benefit plan, or any sponsor, administrator, participant, beneficiary, or other person with respect to

such plan, affected by a disaster or action described in subsection

(a), the Secretary may specify a period of up to 1 year which

may be disregarded in determining the date by which any action

is required or permitted to be completed under this title. No plan

shall be treated as failing to be operated in accordance with the

terms of the plan solely as the result of disregarding any period

by reason of the preceding sentence.

‘‘(c) SPECIAL RULES FOR OVERPAYMENTS.—The rules of section

7508(b) shall apply for purposes of this section.’’. (b) CLARIFICATION OF SCOPE OF ACTS SECRETARY MAY POST- PONE.—Section 7508(a)(1)(K) (relating to time to be disregarded)

is amended by striking ‘‘in regulations prescribed under this section’’.

(c) CONFORMING AMENDMENTS TO ERISA.—

(1) Part 5 of subtitle B of title I of the Employee Retirement

Income Security Act of 1974 (29 U.S.C. 1131 et seq.) is amended

by adding at the end the following new section:

‘‘SEC. 518. AUTHORITY TO POSTPONE CERTAIN DEADLINES BY REASON

OF PRESIDENTIALLY DECLARED DISASTER OR TERRORISTIC OR MILITARY ACTIONS.

‘‘In the case of a pension or other employee benefit plan, or

any sponsor, administrator, participant, beneficiary, or other person

with respect to such plan, affected by a Presidentially declared

disaster (as defined in section 1033(h)(3) of the Internal Revenue

Code of 1986) or a terroristic or military action (as defined in

section 692(c)(2) of such Code), the Secretary may, notwithstanding

any other provision of law, prescribe, by notice or otherwise, a

period of up to 1 year which may be disregarded in determining

the date by which any action is required or permitted to be completed under this Act. No plan shall be treated as failing to be

operated in accordance with the terms of the plan solely as the

result of disregarding any period by reason of the preceding sentence.’’.

(2) Section 4002 of Employee Retirement Income Security

Act of 1974 (29 U.S.C. 1302) is amended by adding at the

end the following new subsection:

‘‘(i) SPECIAL RULES REGARDING DISASTERS, ETC.—In the case

of a pension or other employee benefit plan, or any sponsor, administrator, participant, beneficiary, or other person with respect to

such plan, affected by a Presidentially declared disaster (as defined

in section 1033(h)(3) of the Internal Revenue Code of 1986) or

a terroristic or military action (as defined in section 692(c)(2) of

such Code), the corporation may, notwithstanding any other provision of law, prescribe, by notice or otherwise, a period of up to

1 year which may be disregarded in determining the date by which

any action is required or permitted to be completed under this

Act. No plan shall be treated as failing to be operated in accordance

with the terms of the plan solely as the result of disregarding

any period by reason of the preceding sentence.’’.

(d) ADDITIONAL CONFORMING AMENDMENTS.— (1) Section 6404 is amended— (A) by striking subsection (h);

26 USC 6404.

29 USC 1148.

26 USC 7508.

Applicability.

PUBLIC LAW 107–134—JAN. 23, 2002 115 STAT. 2435

(B) by redesignating subsection (i) as subsection (h);

and

(C) by adding at the end the following new subsection: ‘‘(i) CROSS REFERENCE.—

‘‘For authority to suspend running of interest, etc. by reason of

Presidentially declared disaster or terroristic or military action, see

section 7508A.’’.

(2) Section 6081(c) is amended to read as follows: ‘‘(c) CROSS REFERENCES.—

‘‘For time for performing certain acts postponed by reason of war,

see section 7508, and by reason of Presidentially declared disaster

or terroristic or military action, see section 7508A.’’.

(3) Section 6161(d) is amended by adding at the end the

following new paragraph: ‘‘(3) POSTPONEMENT OF CERTAIN ACTS.—

‘‘For time for performing certain acts postponed by reason of war,

see section 7508, and by reason of Presidentially declared disaster

or terroristic or military action, see section 7508A.’’.

(e) CLERICAL AMENDMENTS.—

(1) The item relating to section 7508A in the table of

sections for chapter 77 is amended to read as follows:

‘‘Sec. 7508A. Authority to postpone certain deadlines by reason of Presidentially declared disaster or terroristic or military actions.’’.

(2) The table of contents for the Employee Retirement

Income Security Act of 1974 is amended by inserting after

the item relating to section 517 the following new item:

‘‘Sec. 518. Authority to postpone certain deadlines by reason of Presidentially declared disaster or terroristic or military actions.’’.

(f) EFFECTIVE DATE.—The amendments made by this section

shall apply to disasters and terroristic or military actions occurring

on or after September 11, 2001, with respect to any action of

the Secretary of the Treasury, the Secretary of Labor, or the Pension

Benefit Guaranty Corporation occurring on or after the date of

the enactment of this Act.

SEC. 113. APPLICATION OF CERTAIN PROVISIONS TO TERRORISTIC

OR MILITARY ACTIONS.

(a) DISABILITY INCOME.—Section 104(a)(5) (relating to compensation for injuries or sickness) is amended by striking ‘‘a violent

attack’’ and all that follows through the period and inserting ‘‘a

terroristic or military action (as defined in section 692(c)(2)).’’.

(b) EXEMPTION FROM INCOME TAX FOR CERTAIN MILITARY OR

CIVILIAN EMPLOYEES.—Section 692(c) is amended— (1) by striking ‘‘outside the United States’’ in paragraph

(1); and

(2) by striking ‘‘SUSTAINED OVERSEAS’’ in the heading.

(c) EFFECTIVE DATE.—The amendments made by this section

shall apply to taxable years ending on or after September 11,

2001.

SEC. 114. CLARIFICATION OF DUE DATE FOR AIRLINE EXCISE TAX

DEPOSITS.

(a) IN GENERAL.—Paragraph (3) of section 301(a) of the Air

Transportation Safety and System Stabilization Act (Public Law

107–42) is amended to read as follows: 49 USC 40101

note.

Applicability.

26 USC 104 note.

Applicability.

26 USC 6081

note.

26 USC 6081.

115 STAT. 2436 PUBLIC LAW 107–134—JAN. 23, 2002

‘‘(3) AIRLINE-RELATED DEPOSIT.—For purposes of this subsection, the term ‘airline-related deposit’ means any deposit

of taxes imposed by subchapter C of chapter 33 of such Code

(relating to transportation by air).’’.

(b) EFFECTIVE DATE.—The amendment made by this section

shall take effect as if included in section 301 of the Air Transportation Safety and System Stabilization Act (Public Law 107–42).

SEC. 115. TREATMENT OF CERTAIN STRUCTURED SETTLEMENT PAYMENTS.

(a) IN GENERAL.—Subtitle E is amended by adding at the

end the following new chapter:

‘‘CHAPTER 55—STRUCTURED SETTLEMENT FACTORING

TRANSACTIONS

‘‘Sec. 5891. Structured settlement factoring transactions.

‘‘SEC. 5891. STRUCTURED SETTLEMENT FACTORING TRANSACTIONS.

‘‘(a) IMPOSITION OF TAX.—There is hereby imposed on any person who acquires directly or indirectly structured settlement payment rights in a structured settlement factoring transaction a tax

equal to 40 percent of the factoring discount as determined under

subsection (c)(4) with respect to such factoring transaction.

‘‘(b) EXCEPTION FOR CERTAIN APPROVED TRANSACTIONS.—

‘‘(1) IN GENERAL.—The tax under subsection (a) shall not

apply in the case of a structured settlement factoring transaction in which the transfer of structured settlement payment

rights is approved in advance in a qualified order.

‘‘(2) QUALIFIED ORDER.—For purposes of this section, the

term ‘qualified order’ means a final order, judgment, or decree

which—

‘‘(A) finds that the transfer described in paragraph

(1)—

‘‘(i) does not contravene any Federal or State

statute or the order of any court or responsible

administrative authority, and

‘‘(ii) is in the best interest of the payee, taking

into account the welfare and support of the payee’s

dependents, and

‘‘(B) is issued—

‘‘(i) under the authority of an applicable State

statute by an applicable State court, or

‘‘(ii) by the responsible administrative authority

(if any) which has exclusive jurisdiction over the underlying action or proceeding which was resolved by means

of the structured settlement.

‘‘(3) APPLICABLE STATE STATUTE.—For purposes of this section, the term ‘applicable State statute’ means a statute providing for the entry of an order, judgment, or decree described

in paragraph (2)(A) which is enacted by— ‘‘(A) the State in which the payee of the structured

settlement is domiciled, or

‘‘(B) if there is no statute described in subparagraph

(A), the State in which either the party to the structured

settlement (including an assignee under a qualified assignment under section 130) or the person issuing the funding

49 USC 40101

note.

PUBLIC LAW 107–134—JAN. 23, 2002 115 STAT. 2437

asset for the structured settlement is domiciled or has

its principal place of business.

‘‘(4) APPLICABLE STATE COURT.—For purposes of this

section—

‘‘(A) IN GENERAL.—The term ‘applicable State court’ means, with respect to any applicable State statute, a

court of the State which enacted such statute. ‘‘(B) SPECIAL RULE.—In the case of an applicable State

statute described in paragraph (3)(B), such term also

includes a court of the State in which the payee of the

structured settlement is domiciled.

‘‘(5) QUALIFIED ORDER DISPOSITIVE.—A qualified order shall

be treated as dispositive for purposes of the exception under

this subsection.

‘‘(c) DEFINITIONS.—For purposes of this section— ‘‘(1) STRUCTURED SETTLEMENT.—The term ‘structured

settlement’ means an arrangement— ‘‘(A) which is established by— ‘‘(i) suit or agreement for the periodic payment

of damages excludable from the gross income of the

recipient under section 104(a)(2), or ‘‘(ii) agreement for the periodic payment of compensation under any workers’ compensation law

excludable from the gross income of the recipient under

section 104(a)(1), and

‘‘(B) under which the periodic payments are— ‘‘(i) of the character described in subparagraphs

(A) and (B) of section 130(c)(2), and

‘‘(ii) payable by a person who is a party to the

suit or agreement or to the workers’ compensation

claim or by a person who has assumed the liability

for such periodic payments under a qualified assignment in accordance with section 130.

‘‘(2) STRUCTURED SETTLEMENT PAYMENT RIGHTS.—The term

‘structured settlement payment rights’ means rights to receive

payments under a structured settlement.

‘‘(3) STRUCTURED SETTLEMENT FACTORING TRANSACTION.—

‘‘(A) IN GENERAL.—The term ‘structured settlement factoring transaction’ means a transfer of structured settlement payment rights (including portions of structured

settlement payments) made for consideration by means

of sale, assignment, pledge, or other form of encumbrance

or alienation for consideration.

‘‘(B) EXCEPTION.—Such term shall not include—

‘‘(i) the creation or perfection of a security interest

in structured settlement payment rights under a

blanket security agreement entered into with an

insured depository institution in the absence of any

action to redirect the structured settlement payments

to such institution (or agent or successor thereof) or

otherwise to enforce such blanket security interest as

against the structured settlement payment rights, or

‘‘(ii) a subsequent transfer of structured settlement

payment rights acquired in a structured settlement

factoring transaction.

‘‘(4) FACTORING DISCOUNT.—The term ‘factoring discount’ means an amount equal to the excess of—

115 STAT. 2438 PUBLIC LAW 107–134—JAN. 23, 2002

‘‘(A) the aggregate undiscounted amount of structured

settlement payments being acquired in the structured

settlement factoring transaction, over

‘‘(B) the total amount actually paid by the acquirer

to the person from whom such structured settlement payments are acquired.

‘‘(5) RESPONSIBLE ADMINISTRATIVE AUTHORITY.—The term

‘responsible administrative authority’ means the administrative

authority which had jurisdiction over the underlying action

or proceeding which was resolved by means of the structured

settlement.

‘‘(6) STATE.—The term ‘State’ includes the Commonwealth

of Puerto Rico and any possession of the United States.

‘‘(d) COORDINATION WITH OTHER PROVISIONS.—

‘‘(1) IN GENERAL.—If the applicable requirements of sections

72, 104(a)(1), 104(a)(2), 130, and 461(h) were satisfied at the

time the structured settlement involving structured settlement

payment rights was entered into, the subsequent occurrence

of a structured settlement factoring transaction shall not affect

the application of the provisions of such sections to the parties

to the structured settlement (including an assignee under a

qualified assignment under section 130) in any taxable year.

‘‘(2) NO WITHHOLDING OF TAX.—The provisions of section

3405 regarding withholding of tax shall not apply to the person

making the payments in the event of a structured settlement

factoring transaction.’’.

(b) CLERICAL AMENDMENT.—The table of chapters for subtitle

E is amended by adding at the end the following new item:

‘‘Chapter 55. Structured settlement factoring transactions.’’.

(c)MEFFECTIVE DATES.—

(1) IN GENERAL.—The amendments made by this section

(other than the provisions of section 5891(d) of the Internal

Revenue Code of 1986, as added by this section) shall apply

to structured settlement factoring transactions (as defined in

section 5891(c) of such Code (as so added)) entered into on

or after the 30th day following the date of the enactment

of this Act.

(2) CLARIFICATION OF EXISTING LAW.—Section 5891(d) of

such Code (as so added) shall apply to structured settlement

factoring transactions (as defined in section 5891(c) of such

Code (as so added)) entered into before, on, or after such 30th

day.

(3) TRANSITION RULE.—In the case of a structured settlement factoring transaction entered into during the period beginning on the 30th day following the date of the enactment

of this Act and ending on July 1, 2002, no tax shall be imposed

under section 5891(a) of such Code if—

(A) the structured settlement payee is domiciled in

a State (or possession of the United States) which has

not enacted a statute providing that the structured settlement factoring transaction is ineffective unless the transaction has been approved by an order, judgment, or decree

of a court (or where applicable, a responsible administrative

authority) which finds that such transaction—

Applicability.

Applicability.

PUBLIC LAW 107–134—JAN. 23, 2002 115 STAT. 2439

(i) does not contravene any Federal or State statute

or the order of any court (or responsible administrative

authority); and

(ii) is in the best interest of the structured settlement payee or is appropriate in light of a hardship

faced by the payee; and

(B) the person acquiring the structured settlement payment rights discloses to the structured settlement payee

in advance of the structured settlement factoring transaction the amounts and due dates of the payments to

be transferred, the aggregate amount to be transferred,

the consideration to be received by the structured settlement payee for the transferred payments, the discounted

present value of the transferred payments (including the

present value as determined in the manner described in

section 7520 of such Code), and the expenses required

under the terms of the structured settlement factoring

transaction to be paid by the structured settlement payee

or deducted from the proceeds of such transaction.

SEC. 116. PERSONAL EXEMPTION DEDUCTION FOR CERTAIN DISABILITY TRUSTS.

(a) IN GENERAL.—Subsection (b) of section 642 (relating to

deduction for personal exemption) is amended to read as follows:

‘‘(b) DEDUCTION FOR PERSONAL EXEMPTION.—

‘‘(1) ESTATES.—An estate shall be allowed a deduction of

$600.

‘‘(2) TRUSTS.—

‘‘(A) IN GENERAL.—Except as otherwise provided in

this paragraph, a trust shall be allowed a deduction of

$100.

‘‘(B) TRUSTS DISTRIBUTING INCOME CURRENTLY.—A

trust which, under its governing instrument, is required

to distribute all of its income currently shall be allowed

a deduction of $300.

‘‘(C) DISABILITY TRUSTS.—

‘‘(i) IN GENERAL.—A qualified disability trust shall

be allowed a deduction equal to the exemption amount

under section 151(d), determined—

‘‘(I) by treating such trust as an individual

described in section 151(d)(3)(C)(iii), and

‘‘(II) by applying section 67(e) (without the

reference to section 642(b)) for purposes of determining the adjusted gross income of the trust.

‘‘(ii) QUALIFIED DISABILITY TRUST.—For purposes

of clause (i), the term ‘qualified disability trust’ means

any trust if—

‘‘(I) such trust is a disability trust described

in subsection (c)(2)(B)(iv) of section 1917 of the

Social Security Act (42 U.S.C. 1396p), and

‘‘(II) all of the beneficiaries of the trust as

of the close of the taxable year are determined

by the Commissioner of Social Security to have

been disabled (within the meaning of section

1614(a)(3) of the Social Security Act, 42 U.S.C.

1382c(a)(3)) for some portion of such year.

26 USC 642.

115 STAT. 2440 PUBLIC LAW 107–134—JAN. 23, 2002

A trust shall not fail to meet the requirements of

subclause (II) merely because the corpus of the trust

may revert to a person who is not so disabled after

the trust ceases to have any beneficiary who is so

disabled.

‘‘(3) DEDUCTIONS IN LIEU OF PERSONAL EXEMPTION.—The

deductions allowed by this subsection shall be in lieu of the

deductions allowed under section 151 (relating to deduction

for personal exemption).’’. (b) EFFECTIVE DATE.—The amendment made by this section

shall apply to taxable years ending on or after September 11,

2001.

TITLE II—DISCLOSURE OF TAX INFORMATION IN TERRORISM AND NATIONAL SECURITY INVESTIGATIONS

SEC. 201. DISCLOSURE OF TAX INFORMATION IN TERRORISM AND

NATIONAL SECURITY INVESTIGATIONS.

(a) DISCLOSURE WITHOUT A REQUEST OF INFORMATION

RELATING TO TERRORIST ACTIVITIES, ETC.—Paragraph (3) of section

6103(i) (relating to disclosure of return information to apprise appropriate officials of criminal activities or emergency circumstances)

is amended by adding at the end the following new subparagraph:

‘‘(C) TERRORIST ACTIVITIES, ETC.—

‘‘(i) IN GENERAL.—Except as provided in paragraph

(6), the Secretary may disclose in writing return

information (other than taxpayer return information)

that may be related to a terrorist incident, threat,

or activity to the extent necessary to apprise the head

of the appropriate Federal law enforcement agency

responsible for investigating or responding to such terrorist incident, threat, or activity. The head of the

agency may disclose such return information to officers

and employees of such agency to the extent necessary

to investigate or respond to such terrorist incident,

threat, or activity.

‘‘(ii) DISCLOSURE TO THE DEPARTMENT OF JUSTICE.—Returns and taxpayer return information may

also be disclosed to the Attorney General under clause

(i) to the extent necessary for, and solely for use in

preparing, an application under paragraph (7)(D).

‘‘(iii) TAXPAYER IDENTITY.—For purposes of this

subparagraph, a taxpayer’s identity shall not be treated

as taxpayer return information.

‘‘(iv) TERMINATION.—No disclosure may be made

under this subparagraph after December 31, 2003.’’.

(b) DISCLOSURE UPON REQUEST OF INFORMATION RELATING TO

TERRORIST ACTIVITIES, ETC.—Subsection (i) of section 6103 (relating

to disclosure to Federal officers or employees for administration

of Federal laws not relating to tax administration) is amended

by redesignating paragraph (7) as paragraph (8) and by inserting

after paragraph (6) the following new paragraph:

‘‘(7) DISCLOSURE UPON REQUEST OF INFORMATION RELATING

TO TERRORIST ACTIVITIES, ETC.—

26 USC 6103.

Applicability.

26 USC 642 note.

PUBLIC LAW 107–134—JAN. 23, 2002 115 STAT. 2441

‘‘(A) DISCLOSURE TO LAW ENFORCEMENT AGENCIES.—

‘‘(i) IN GENERAL.—Except as provided in paragraph

(6), upon receipt by the Secretary of a written request

which meets the requirements of clause (iii), the Secretary may disclose return information (other than taxpayer return information) to officers and employees

of any Federal law enforcement agency who are personally and directly engaged in the response to or investigation of any terrorist incident, threat, or activity.

‘‘(ii) DISCLOSURE TO STATE AND LOCAL LAW

ENFORCEMENT AGENCIES.—The head of any Federal law

enforcement agency may disclose return information

obtained under clause (i) to officers and employees

of any State or local law enforcement agency but only

if such agency is part of a team with the Federal

law enforcement agency in such response or investigation and such information is disclosed only to officers

and employees who are personally and directly engaged

in such response or investigation.

‘‘(iii) REQUIREMENTS.—A request meets the

requirements of this clause if—

‘‘(I) the request is made by the head of any

Federal law enforcement agency (or his delegate)

involved in the response to or investigation of any

terrorist incident, threat, or activity, and

‘‘(II) the request sets forth the specific reason

or reasons why such disclosure may be relevant

to a terrorist incident, threat, or activity.

‘‘(iv) LIMITATION ON USE OF INFORMATION.—

Information disclosed under this subparagraph shall

be solely for the use of the officers and employees

to whom such information is disclosed in such response

or investigation.

‘‘(B) DISCLOSURE TO INTELLIGENCE AGENCIES.—

‘‘(i) IN GENERAL.—Except as provided in paragraph

(6), upon receipt by the Secretary of a written request

which meets the requirements of clause (ii), the Secretary may disclose return information (other than taxpayer return information) to those officers and

employees of the Department of Justice, the Department of the Treasury, and other Federal intelligence

agencies who are personally and directly engaged in

the collection or analysis of intelligence and counterintelligence information or investigation concerning

any terrorist incident, threat, or activity. For purposes

of the preceding sentence, the information disclosed

under the preceding sentence shall be solely for the

use of such officers and employees in such investigation, collection, or analysis.

‘‘(ii) REQUIREMENTS.—A request meets the requirements of this subparagraph if the request—

‘‘(I) is made by an individual described in

clause (iii), and

‘‘(II) sets forth the specific reason or reasons

why such disclosure may be relevant to a terrorist

incident, threat, or activity.

115 STAT. 2442 PUBLIC LAW 107–134—JAN. 23, 2002

‘‘(iii) REQUESTING INDIVIDUALS.—An individual

described in this subparagraph is an individual— ‘‘(I) who is an officer or employee of the

Department of Justice or the Department of the

Treasury who is appointed by the President with

the advice and consent of the Senate or who is

the Director of the United States Secret Service,

and

‘‘(II) who is responsible for the collection and

analysis of intelligence and counterintelligence

information concerning any terrorist incident,

threat, or activity.

‘‘(iv) TAXPAYER IDENTITY.—For purposes of this

subparagraph, a taxpayer’s identity shall not be treated

as taxpayer return information.

‘‘(C) DISCLOSURE UNDER EX PARTE ORDERS.— ‘‘(i) IN GENERAL.—Except as provided in paragraph

(6), any return or return information with respect to

any specified taxable period or periods shall, pursuant

to and upon the grant of an ex parte order by a

Federal district court judge or magistrate under clause

(ii), be open (but only to the extent necessary as provided in such order) to inspection by, or disclosure

to, officers and employees of any Federal law enforcement agency or Federal intelligence agency who are

personally and directly engaged in any investigation,

response to, or analysis of intelligence and counterintelligence information concerning any terrorist incident,

threat, or activity. Return or return information opened

to inspection or disclosure pursuant to the preceding

sentence shall be solely for the use of such officers

and employees in the investigation, response, or analysis, and in any judicial, administrative, or grand jury

proceedings, pertaining to such terrorist incident,

threat, or activity. ‘‘(ii) APPLICATION FOR ORDER.—The Attorney General, the Deputy Attorney General, the Associate

Attorney General, any Assistant Attorney General, or

any United States attorney may authorize an application to a Federal district court judge or magistrate

for the order referred to in clause (i). Upon such

application, such judge or magistrate may grant such

order if he determines on the basis of the facts submitted by the applicant that—

‘‘(I) there is reasonable cause to believe, based

upon information believed to be reliable, that the

return or return information may be relevant to

a matter relating to such terrorist incident, threat,

or activity, and

‘‘(II) the return or return information is sought

exclusively for use in a Federal investigation, analysis, or proceeding concerning any terrorist

incident, threat, or activity.

‘‘(D) SPECIAL RULE FOR EX PARTE DISCLOSURE BY THE

IRS.— ‘‘(i) IN GENERAL.—Except as provided in paragraph

(6), the Secretary may authorize an application to a

PUBLIC LAW 107–134—JAN. 23, 2002 115 STAT. 2443

Federal district court judge or magistrate for the order

referred to in subparagraph (C)(i). Upon such application, such judge or magistrate may grant such order

if he determines on the basis of the facts submitted

by the applicant that the requirements of subparagraph (C)(ii)(I) are met.

‘‘(ii) LIMITATION ON USE OF INFORMATION.— Information disclosed under clause (i)— ‘‘(I) may be disclosed only to the extent necessary to apprise the head of the appropriate Federal law enforcement agency responsible for investigating or responding to a terrorist incident,

threat, or activity, and ‘‘(II) shall be solely for use in a Federal investigation, analysis, or proceeding concerning any

terrorist incident, threat, or activity.

The head of such Federal agency may disclose such

information to officers and employees of such agency

to the extent necessary to investigate or respond to

such terrorist incident, threat, or activity.

‘‘(E) TERMINATION.—No disclosure may be made under

this paragraph after December 31, 2003.’’.

(c) CONFORMING AMENDMENTS.—

(1) Section 6103(a)(2) is amended by inserting ‘‘any local

law enforcement agency receiving information under subsection

(i)(7)(A),’’ after ‘‘State,’’.

(2) Section 6103(b) is amended by adding at the end the

following new paragraph:

‘‘(11) TERRORIST INCIDENT, THREAT, OR ACTIVITY.—The term

‘terrorist incident, threat, or activity’ means an incident, threat,

or activity involving an act of domestic terrorism (as defined

in section 2331(5) of title 18, United States Code) or international terrorism (as defined in section 2331(1) of such title).’’.

(3) The heading of section 6103(i)(3) is amended by

inserting ‘‘OR TERRORIST’’ after ‘‘CRIMINAL’’. (4) Paragraph (4) of section 6103(i) is amended—

(A) in subparagraph (A) by inserting ‘‘or (7)(C)’’ after

‘‘paragraph (1)’’; and

(B) in subparagraph (B) by striking ‘‘or (3)(A)’’ and

inserting ‘‘(3)(A) or (C), or (7)’’.

(5) Paragraph (6) of section 6103(i) is amended—

(A) by striking ‘‘(3)(A)’’ and inserting ‘‘(3)(A) or (C)’’;

and

(B) by striking ‘‘or (7)’’ and inserting ‘‘(7), or (8)’’.

(6) Section 6103(p)(3) is amended—

(A) in subparagraph (A) by striking ‘‘(7)(A)(ii)’’ and

inserting ‘‘(8)(A)(ii)’’; and

(B) in subparagraph (C) by striking ‘‘(i)(3)(B)(i)’’ and

inserting ‘‘(i)(3)(B)(i) or (7)(A)(ii)’’.

(7) Section 6103(p)(4) is amended—

(A) in the matter preceding subparagraph (A)—

(i) by striking ‘‘or (5),’’ the first place it appears

and inserting ‘‘(5), or (7),’’; and

(ii) by striking ‘‘(i)(3)(B)(i),’’ and inserting

‘‘(i)(3)(B)(i) or (7)(A)(ii),’’; and

(B) in subparagraph (F)(ii) by striking ‘‘or (5),’’ the

first place it appears and inserting ‘‘(5) or (7),’’.

26 USC 6103.

115 STAT. 2444 PUBLIC LAW 107–134—JAN. 23, 2002

(8) Section 6103(p)(6)(B)(i) is amended by striking

‘‘(i)(7)(A)(ii)’’ and inserting ‘‘(i)(8)(A)(ii)’’.

(9) Section 6105(b) is amended—

(A) by striking ‘‘or’’ at the end of paragraph (2);

(B) by striking ‘‘paragraphs (1) or (2)’’ in paragraph

(3) and inserting ‘‘paragraph (1), (2), or (3)’’;

(C) by redesignating paragraph (3) as paragraph (4);

and

(D) by inserting after paragraph (2) the following new

paragraph:

‘‘(3) to the disclosure of tax convention information on

the same terms as return information may be disclosed under

paragraph (3)(C) or (7) of section 6103(i), except that in the

case of tax convention information provided by a foreign government, no disclosure may be made under this paragraph without

the written consent of the foreign government, or’’.

(10) Section 7213(a)(2) is amended by striking ‘‘(i)(3)(B)(i),’’

and inserting ‘‘(i)(3)(B)(i) or (7)(A)(ii),’’.

(d) EFFECTIVE DATE.—The amendments made by this section

shall apply to disclosures made on or after the date of the enactment

of this Act.

TITLE III—NO IMPACT ON SOCIAL

SECURITY TRUST FUNDS

SEC. 301. NO IMPACT ON SOCIAL SECURITY TRUST FUNDS.

(a) IN GENERAL.—Nothing in this Act (or an amendment made

by this Act) shall be construed to alter or amend title II of the

Social Security Act (or any regulation promulgated under that Act).

(b) TRANSFERS.—

(1) ESTIMATE OF SECRETARY.—The Secretary of the

Treasury shall annually estimate the impact that the enactment

of this Act has on the income and balances of the trust funds

established under section 201 of the Social Security Act (42

U.S.C. 401).

(2) TRANSFER OF FUNDS.—If, under paragraph (1), the Secretary of the Treasury estimates that the enactment of this

Act has a negative impact on the income and balances of

the trust funds established under section 201 of the Social

Security Act (42 U.S.C. 401), the Secretary shall transfer, not

less frequently than quarterly, from the general revenues of

the Federal Government an amount sufficient so as to ensure

42 USC 401 note.

Applicability.

26 USC 6103

note.

26 USC 6103.

PUBLIC LAW 107–134—JAN. 23, 2002 115 STAT. 2445

LEGISLATIVE HISTORY—H.R. 2884 (S. 1440):

CONGRESSIONAL RECORD, Vol. 147 (2001):

Sept. 13, considered and passed House.

Nov. 16, considered and passed Senate, amended.

Dec. 13, House concurred in Senate amendments with an amendment.

Dec. 20, Senate concurred in House amendment with an amendment. House

concurred in Senate amendment.

WEEKLY COMPILATION OF PRESIDENTIAL DOCUMENTS, Vol. 38 (2002):

Jan. 23, Presidential remarks.

Æ

that the income and balances of such trust funds are not

reduced as a result of the enactment of this Act.

Approved January 23, 2002.