II 

110TH CONGRESS 

1ST SESSION S. 1532 

To extend tax relief to the residents and businesses of an area with respect 

to which a major disaster has been declared by the President under 

section 401 of the Robert T. Stafford Disaster Relief and Emergency 

Assistance Act (FEMA–1699–DR) by reason of severe storms and tornados beginning on May 4, 2007, and determined by the President 

to warrant individual or individual and public assistance from the Federal 

Government under such Act. 

IN THE SENATE OF THE UNITED STATES 

MAY 25, 2007 

Mr. ROBERTS (for himself and Mr. BROWNBACK) introduced the following bill; 

which was read twice, considered, read the third time, and passed 

MAY 25, 2007 

Ordered held at the desk 

A BILL 

To extend tax relief to the residents and businesses of an 

area with respect to which a major disaster has been 

declared by the President under section 401 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act (FEMA–1699–DR) by reason of severe storms 

and tornados beginning on May 4, 2007, and determined 

by the President to warrant individual or individual and 

public assistance from the Federal Government under 

such Act. 


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•S 1532 HDS

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

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as ‘‘Kansas Disaster Tax Re5 lief Assistance Act’’. 

6 SEC. 2. TEMPORARY TAX RELIEF FOR KIOWA COUNTY, KAN7 SAS AND SURROUNDING AREA. 

8 The following provisions of or relating to the Internal 

9 Revenue Code of 1986 shall apply, in addition to the areas 

10 described in such provisions, to an area with respect to 

11 which a major disaster has been declared by the President 

12 under section 401 of the Robert T. Stafford Disaster Re13 lief and Emergency Assistance Act (FEMA–1699–DR, as 

14 in effect on the date of the enactment of this Act) by rea15 son of severe storms and tornados beginning on May 4, 

16 2007, and determined by the President to warrant indi17 vidual or individual and public assistance from the Federal 

18 Government under such Act with respect to damages at19 tributed to such storms and tornados: 

20 (1) SUSPENSION OF CERTAIN LIMITATIONS ON

21 PERSONAL CASUALTY LOSSES.—Section 1400S(b)(1) 

22 of the Internal Revenue Code of 1986, by sub23 stituting ‘‘May 4, 2007’’ for ‘‘August 25, 2005’’. 

24 (2) EXTENSION OF REPLACEMENT PERIOD FOR

25 NONRECOGNITION OF GAIN.—Section 405 of the 


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•S 1532 HDS

1 Katrina Emergency Tax Relief Act of 2005, by sub2 stituting ‘‘on or after May 4, 2007, by reason of the 

3 May 4, 2007, storms and tornados’’ for ‘‘on or after 

4 August 25, 2005, by reason of Hurricane Katrina’’. 

5 (3) EMPLOYEE RETENTION CREDIT FOR EM6 PLOYERS AFFECTED BY MAY 4 STORMS AND TOR7 NADOS.—Section 1400R(a) of the Internal Revenue 

8 Code of 1986— 

9 (A) by substituting ‘‘May 4, 2007’’ for 

10 ‘‘August 28, 2005’’ each place it appears, 

11 (B) by substituting ‘‘January 1, 2008’’ for 

12 ‘‘January 1, 2006’’ both places it appears, and 

13 (C) only with respect to eligible employers 

14 who employed an average of not more than 200 

15 employees on business days during the taxable 

16 year before May 4, 2007. 

17 (4) SPECIAL ALLOWANCE FOR CERTAIN PROP18 ERTY ACQUIRED ON OR AFTER MAY 5, 2007.—Section 

19 1400N(d) of such Code— 

20 (A) by substituting ‘‘qualified Recovery As21 sistance property’’ for ‘‘qualified Gulf Oppor22 tunity Zone property’’ each place it appears, 

23 (B) by substituting ‘‘May 5, 2007’’ for 

24 ‘‘August 28, 2005’’ each place it appears, 


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•S 1532 HDS

1 (C) by substituting ‘‘December 31, 2008’’ 

2 for ‘‘December 31, 2007’’ in paragraph 

3 (2)(A)(v), 

4 (D) by substituting ‘‘December 31, 2009’’ 

5 for ‘‘December 31, 2008’’ in paragraph 

6 (2)(A)(v), 

7 (E) by substituting ‘‘May 4, 2007’’ for 

8 ‘‘August 27, 2005’’ in paragraph (3)(A), 

9 (F) by substituting ‘‘January 1, 2009’’ for 

10 ‘‘January 1, 2008’’ in paragraph (3)(B), and 

11 (G) determined without regard to para12 graph (6) thereof. 

13 (5) INCREASE IN EXPENSING UNDER SECTION

14 179.—Section 1400N(e) of such Code, by sub15 stituting ‘‘qualified section 179 Recovery Assistance 

16 property’’ for ‘‘qualified section 179 Gulf Oppor17 tunity Zone property’’ each place it appears. 

18 (6) EXPENSING FOR CERTAIN DEMOLITION AND

19 CLEAN-UP COSTS.—Section 1400N(f) of such 

20 Code— 

21 (A) by substituting ‘‘qualified Recovery As22 sistance clean-up cost’’ for ‘‘qualified Gulf Op23 portunity Zone clean-up cost’’ each place it ap24 pears, and 


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•S 1532 HDS

1 (B) by substituting ‘‘beginning on May 4, 

2 2007, and ending on December 31, 2009’’ for 

3 ‘‘beginning on August 28, 2005, and ending on 

4 December 31, 2007’’ in paragraph (2) thereof. 

5 (7) TREATMENT OF PUBLIC UTILITY PROPERTY

6 DISASTER LOSSES.—Section 1400N(o) of such Code. 

7 (8) TREATMENT OF NET OPERATING LOSSES

8 ATTRIBUTABLE TO STORM LOSSES.—Section 

9 1400N(k) of such Code— 

10 (A) by substituting ‘‘qualified Recovery As11 sistance loss’’ for ‘‘qualified Gulf Opportunity 

12 Zone loss’’ each place it appears, 

13 (B) by substituting ‘‘after May 3, 2007, 

14 and before January 1, 2010’’ for ‘‘after August 

15 27, 2005, and before January 1, 2008’’ each 

16 place it appears, 

17 (C) by substituting ‘‘May 4, 2007’’ for 

18 ‘‘August 28, 2005’’ in paragraph (2)(B)(ii)(I) 

19 thereof, 

20 (D) by substituting ‘‘qualified Recovery 

21 Assistance property’’ for ‘‘qualified Gulf Oppor22 tunity Zone property’’ in paragraph (2)(B)(iv) 

23 thereof, and 

24 (E) by substituting ‘‘qualified Recovery As25 sistance casualty loss’’ for ‘‘qualified Gulf OpVerDate Aug 31 2005 22:02 May 29, 2007 Jkt 059200 PO 00000 Frm 00005 Fmt 6652 Sfmt 6201 E:\BILLS\S1532.HDS S1532

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•S 1532 HDS

1 portunity Zone casualty loss’’ each place it ap2 pears. 

3 (9) TREATMENT OF REPRESENTATIONS RE4 GARDING INCOME ELIGIBILITY FOR PURPOSES OF

5 QUALIFIED RENTAL PROJECT REQUIREMENTS.—Sec6 tion 1400N(n) of such Code. 

7 (10) SPECIAL RULES FOR USE OF RETIREMENT

8 FUNDS.—Section 1400Q of such Code— 

9 (A) by substituting ‘‘qualified Recovery As10 sistance distribution’’ for ‘‘qualified hurricane 

11 distribution’’ each place it appears, 

12 (B) by substituting ‘‘on or after May 4, 

13 2007, and before January 1, 2009’’ for ‘‘on or 

14 after August 25, 2005, and before January 1, 

15 2007’’ in subsection (a)(4)(A)(i), 

16 (C) by substituting ‘‘qualified storm dis17 tribution’’ for ‘‘qualified Katrina distribution’’ 

18 each place it appears, 

19 (D) by substituting ‘‘after November 4, 

20 2006, and before May 5, 2007’’ for ‘‘after Feb21 ruary 28, 2005, and before August 29, 2005’’ 

22 in subsection (b)(2)(B)(ii), 

23 (E) by substituting ‘‘beginning on May 4, 

24 2007, and ending on November 5, 2007’’ for 


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1 ‘‘beginning on August 25, 2005, and ending on 

2 February 28, 2006’’ in subsection (b)(3)(A), 

3 (F) by substituting ‘‘qualified storm indi4 vidual’’ for ‘‘qualified Hurricane Katrina indi5 vidual’’ each place it appears, 

6 (G) by substituting ‘‘December 31, 2007’’ 

7 for ‘‘December 31, 2006’’ in subsection 

8 (c)(2)(A), 

9 (H) by substituting ‘‘beginning on June 4, 

10 2007, and ending on December 31, 2007’’ for 

11 ‘‘beginning on September 24, 2005, and ending 

12 on December 31, 2006’’ in subsection 

13 (c)(4)(A)(i), 

14 (I) by substituting ‘‘May 4, 2007’’ for 

15 ‘‘August 25, 2005’’ in subsection (c)(4)(A)(ii), 

16 and 

17 (J) by substituting ‘‘January 1, 2008’’ for 

18 ‘‘January 1, 2007’’ in subsection (d)(2)(A)(ii). 

Æ 


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