I 

112TH CONGRESS 

1ST SESSION H. R. 2321 

To provide temporary tax relief for areas damaged by 2011 Southeastern 

severe storms, tornados, and flooding, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

JUNE 23, 2011 

Mr. BACHUS (for himself, Ms. SEWELL, Mr. BROOKS, Mr. BONNER, Mr. ROGERS of Alabama, Mr. LONG, Mr. ROSS of Arkansas, Mr. HARPER, Mr. 

JONES, Mr. WESTMORELAND, Mr. PALAZZO, Mr. DUNCAN of Tennessee, 

Mr. CARNAHAN, Mrs. ROBY, Mr. CLAY, Mr. AUSTIN SCOTT of Georgia, 

Mr. WOMACK, Mr. CRAWFORD, Mr. ROE of Tennessee, Mrs. HARTZLER, 

Mr. LUCAS, Mr. COLE, Mr. FINCHER, Mr. GRIFFIN of Arkansas, Mr. 

GUTHRIE, Mr. DESJARLAIS, and Mr. NUNNELEE) introduced the following bill; which was referred to the Committee on Ways and Means, 

and in addition to the Committee on Appropriations, for a period to be 

subsequently determined by the Speaker, in each case for consideration 

of such provisions as fall within the jurisdiction of the committee concerned 

A BILL 

To provide temporary tax relief for areas damaged by 2011 

Southeastern severe storms, tornados, and flooding, and 

for other purposes. 

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 the ‘‘Southeastern Disaster 

5 Tax Relief Act of 2011’’. 


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1 SEC. 2. TEMPORARY TAX RELIEF FOR AREAS DAMAGED BY 

2 2011 SOUTHEASTERN SEVERE STORMS, TOR3 NADOS, AND FLOODING. 

4 (a) IN GENERAL.—Subject to the modifications de5 scribed in this section, the following provisions of or relat6 ing to the Internal Revenue Code of 1986 shall apply to 

7 any Southeastern disaster area in addition to the areas 

8 to which such provisions otherwise apply: 

9 (1) GO ZONE BENEFITS.— 

10 (A) Section 1400N (relating to tax bene11 fits) other than subsections (d), (e), (g), (h), 

12 and (m) thereof. 

13 (B) Section 1400O (relating to education 

14 tax benefits). 

15 (C) Section 1400Q (relating to special 

16 rules for use of retirement funds). 

17 (D) Section 1400R(a) (relating to em18 ployee retention credit for employers). 

19 (E) Section 1400S (relating to additional 

20 tax relief). 

21 (F) Section 1400T (relating to special 

22 rules for mortgage revenue bonds). 

23 (2) OTHER BENEFITS INCLUDED IN KATRINA

24 EMERGENCY TAX RELIEF ACT OF 2005.—Sections 

25 302, 401, and 405 of the Katrina Emergency Tax 

26 Relief Act of 2005. 


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1 (b) SOUTHEASTERN DISASTER AREA.— 

2 (1) IN GENERAL.—For purposes of this section 

3 and for applying the substitutions described in sub4 sections (d) and (e), the term ‘‘Southeastern disaster 

5 area’’ means an area— 

6 (A) with respect to which a major disaster 

7 has been declared by the President under sec8 tion 401 of the Robert T. Stafford Disaster Re9 lief and Emergency Assistance Act by reason of 

10 severe storms, tornados, or flooding occurring 

11 after April 13, 2011, and before June 7, 2011, 

12 in any of the States of Alabama, Arkansas, 

13 Georgia, Kentucky, Mississippi, Missouri, North 

14 Carolina, Oklahoma, and Tennessee, and 

15 (B) determined by the President to war16 rant individual or individual and public assist17 ance from the Federal Government under such 

18 Act with respect to damages attributable to 

19 such severe storms, tornados, or flooding. 

20 (2) CERTAIN BENEFITS AVAILABLE TO AREAS

21 ELIGIBLE ONLY FOR PUBLIC ASSISTANCE.—For pur22 poses of applying this section to benefits under the 

23 following provisions, paragraph (1) shall be applied 

24 without regard to subparagraph (B): 


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1 (A) Sections 1400N(f), 1400O, 1400Q, 

2 1400S(a), 1400S(b), and 1400S(d) of the In3 ternal Revenue Code of 1986. 

4 (B) Sections 302, 401, and 405 of the 

5 Katrina Emergency Tax Relief Act of 2005. 

6 (c) REFERENCES.— 

7 (1) AREA.—Any reference in such provisions to 

8 the Hurricane Katrina disaster area or the Gulf Op9 portunity Zone shall be treated as a reference to any 

10 Southeastern disaster area and any reference to the 

11 Hurricane Katrina disaster area or the Gulf Oppor12 tunity Zone within a State shall be treated as a ref13 erence to all Southeastern disaster areas within the 

14 State. 

15 (2) ITEMS ATTRIBUTABLE TO DISASTER.—Any 

16 reference in such provisions to any loss, damage, or 

17 other item attributable to Hurricane Katrina shall 

18 be treated as a reference to any loss, damage, or 

19 other item attributable to the severe storms, tor20 nados, or flooding giving rise to any Presidential 

21 declaration described in subsection (b)(1)(A). 

22 (3) APPLICABLE DISASTER DATE.—For pur23 poses of applying the substitutions described in sub24 sections (d) and (e), the term ‘‘applicable disaster 

25 date’’ means, with respect to any Southeastern disVerDate Mar 15 2010 03:21 Jun 29, 2011 Jkt 099200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6201 E:\BILLS\H2321.IH H2321

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1 aster area, the date on which the severe storms, tor2 nados, or flooding giving rise to the Presidential dec3 laration described in subsection (b)(1)(A) occurred. 

4 (d) MODIFICATIONS TO 1986 CODE.—The following 

5 provisions of the Internal Revenue Code of 1986 shall be 

6 applied with the following modifications: 

7 (1) TAX-EXEMPT BOND FINANCING.—Section 

8 1400N(a)— 

9 (A) by substituting ‘‘qualified Southeastern 

10 disaster area bond’’ for ‘‘qualified Gulf Oppor11 tunity Zone Bond’’ each place it appears, except 

12 that in determining whether a bond is a quali13 fied Southeastern disaster area bond, para14 graph (2)(A)(i) shall be applied by only treating 

15 costs as qualified project costs if— 

16 (i) in the case of a project involving a 

17 private business use (as defined in section 

18 141(b)(6)), either the person using the 

19 property suffered a loss in a trade or busi20 ness attributable to the severe storms, tor21 nados, or flooding giving rise to any Presi22 dential declaration described in subsection 

23 (b)(1)(A) or is a person designated for 

24 purposes of this section by the Governor of 

25 the State in which the project is located as 


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1 a person carrying on a trade or business 

2 replacing a trade or business with respect 

3 to which another person suffered such a 

4 loss, and 

5 (ii) in the case of a project relating to 

6 public utility property, the project involves 

7 repair or reconstruction of public utility 

8 property damaged by such severe storms, 

9 tornados, or flooding, and 

10 (B) by substituting ‘‘any State in which a 

11 Southeastern disaster area is located’’ for ‘‘the 

12 State of Alabama, Louisiana, or Mississippi’’ in 

13 paragraph (2)(B), 

14 (C) by substituting ‘‘designated for pur15 poses of this section (on the basis of providing 

16 assistance to areas in the order in which such 

17 assistance is most needed)’’ for ‘‘designated for 

18 purposes of this section’’ in paragraph (2)(C), 

19 (D) by substituting ‘‘January 1, 2018’’ for 

20 ‘‘January 1, 2012’’ in paragraph (2)(D), 

21 (E) in paragraph (3)(A)— 

22 (i) by substituting ‘‘$1,000’’ for 

23 ‘‘$2,500’’, and 

24 (ii) by substituting ‘‘before the ear25 liest applicable disaster date for SouthVerDate Mar 15 2010 03:21 Jun 29, 2011 Jkt 099200 PO 00000 Frm 00006 Fmt 6652 Sfmt 6201 E:\BILLS\H2321.IH H2321

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1 eastern disaster areas within the State’’ 

2 for ‘‘before August 28, 2005’’, 

3 (F) by substituting ‘‘qualified South4 eastern disaster area repair or construction’’ for 

5 ‘‘qualified GO Zone repair or construction’’ 

6 each place it appears, 

7 (G) by substituting ‘‘after the date of the 

8 enactment of the Southeastern Disaster Tax 

9 Relief Act of 2011 and before January 1, 

10 2018’’ for ‘‘after the date of the enactment of 

11 this paragraph and before January 1, 2012’’ in 

12 paragraph (7)(C), and 

13 (H) by disregarding paragraph (8) thereof. 

14 (2) ADVANCE REFUNDINGS OF CERTAIN TAX15 EXEMPT BONDS.—Section 1400N(b)— 

16 (A) by substituting ‘‘after the date of the 

17 enactment of the Southeastern Disaster Tax 

18 Relief Act of 2011 and before January 1, 

19 2017’’ for ‘‘after the date of the enactment of 

20 this section and before January 1, 2011’’ in 

21 paragraphs (1) and (2), 

22 (B) by substituting ‘‘the applicable disaster 

23 date’’ for ‘‘August 28, 2005’’ in paragraphs (3) 

24 and (5)(A), 


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1 (C) by substituting ‘‘any State in which a 

2 Southeastern disaster area is located,’’ for 

3 ‘‘State of Alabama, Louisiana, or Mississippi,’’, 

4 and 

5 (D) by substituting the following para6 graph for paragraph (4) thereof: 

7 ‘‘(4) AGGREGATE LIMIT.—The maximum aggre8 gate face amount of bonds which may be designated 

9 under this subsection by the Governor of a State 

10 shall not exceed 50 percent of the aggregate face 

11 amount of bonds which could otherwise be so des12 ignated.’’. 

13 (3) LOW-INCOME HOUSING CREDIT.—Section 

14 1400N(c)— 

15 (A) only with respect to calendar years 

16 2011, 2012, and 2013, 

17 (B) by substituting ‘‘Disaster Recovery As18 sistance housing amount’’ for ‘‘Gulf Oppor19 tunity housing amount’’ each place it appears, 

20 (C) in paragraph (1)(B)— 

21 (i) by substituting ‘‘$8.00’’ for 

22 ‘‘$18.00’’, and 

23 (ii) by substituting ‘‘before the ear24 liest applicable disaster date for SouthVerDate Mar 15 2010 03:21 Jun 29, 2011 Jkt 099200 PO 00000 Frm 00008 Fmt 6652 Sfmt 6201 E:\BILLS\H2321.IH H2321

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1 eastern disaster areas within the State’’ 

2 for ‘‘before August 28, 2005’’, and 

3 (D) determined without regard to para4 graphs (2), (3), (4), (5), and (6) thereof. 

5 (4) EXPENSING FOR CERTAIN DEMOLITION AND

6 CLEAN-UP COSTS.—Section 1400N(f)— 

7 (A) by substituting ‘‘qualified Disaster Re8 covery Assistance clean-up cost’’ for ‘‘qualified 

9 Gulf Opportunity Zone clean-up cost’’ each 

10 place it appears, 

11 (B) by substituting ‘‘beginning on the ap12 plicable disaster date and ending on December 

13 31, 2013’’ for ‘‘beginning on August 28, 2005, 

14 and ending on December 31, 2007’’ in para15 graph (2), and 

16 (C) by treating costs as qualified Disaster 

17 Recovery Assistance clean-up costs only if the 

18 removal of debris or demolition of any structure 

19 was necessary due to damage attributable to 

20 the severe storms, tornados, or flooding giving 

21 rise to any Presidential declaration described in 

22 subsection (b)(1)(A). 

23 (5) SPECIAL RULES FOR SMALL TIMBER PRO24 DUCERS.—Section 1400N(i)— 


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1 (A) by substituting ‘‘the applicable disaster 

2 date’’ for ‘‘August 28, 2005’’ in paragraphs 

3 (4)(B)(i)(I) and (5)(A)(i)(I), 

4 (B) by disregarding subclauses (II) and 

5 (III) of paragraphs (4)(B)(i) and (5)(A)(i), 

6 (C) by substituting ‘‘January 1, 2014’’ for 

7 ‘‘January 1, 2008’’ in paragraph (5)(A)(ii)(I), 

8 and 

9 (D) by substituting ‘‘January 1, 2014’’ for 

10 ‘‘January 1, 2007’’ in paragraph (5)(A)(ii)(I). 

11 (6) SPECIAL RULE FOR PUBLIC UTILITY CAS12 UALTY LOSSES.—Section 1400N(j), by substituting 

13 ‘‘Southeastern disaster area’’ for ‘‘Gulf Opportunity 

14 Zone’’ each place it appears. 

15 (7) TREATMENT OF NET OPERATING LOSSES

16 ATTRIBUTABLE TO DISASTER LOSSES.—Section 

17 1400N(k)— 

18 (A) by substituting ‘‘qualified Disaster Re19 covery Assistance loss’’ for ‘‘qualified Gulf Op20 portunity Zone loss’’ each place it appears, 

21 (B) by substituting ‘‘after the day before 

22 the applicable disaster date, and before January 

23 1, 2014’’ for ‘‘after August 27, 2005, and be24 fore January 1, 2008’’ each place it appears, 


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1 (C) by substituting ‘‘the applicable disaster 

2 date’’ for ‘‘August 28, 2005’’ in paragraph 

3 (2)(B)(ii)(I), 

4 (D) by substituting ‘‘qualified Disaster Re5 covery Assistance property’’ for ‘‘qualified Gulf 

6 Opportunity Zone property’’ in paragraph 

7 (2)(B)(iv), and 

8 (E) by substituting ‘‘qualified Disaster Re9 covery Assistance casualty loss’’ for ‘‘qualified 

10 Gulf Opportunity Zone casualty loss’’ each 

11 place it appears. 

12 (8) CREDIT TO HOLDERS OF TAX CREDIT

13 BONDS.—Section 1400N(l)— 

14 (A) by substituting ‘‘Southeastern tax 

15 credit bond’’ for ‘‘Gulf tax credit bond’’ each 

16 place it appears, 

17 (B) by substituting ‘‘any State in which a 

18 Southeastern disaster area is located or any in19 strumentality of the State’’ for ‘‘the State of 

20 Alabama, Louisiana, or Mississippi’’ in para21 graph (4)(A)(i), 

22 (C) by substituting ‘‘after December 31, 

23 2011 and before January 1, 2013’’ for ‘‘after 

24 December 31, 2005, and before January 1, 

25 2007’’, 


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1 (D) by substituting ‘‘shall not exceed 

2 $100,000,000 for any State with an aggregate 

3 population located in all Southeastern disaster 

4 areas within the State of at least 2,000,000, 

5 $50,000,000 for any State with an aggregate 

6 population located in all Southeastern disaster 

7 areas within the State of at least 1,000,000 but 

8 less than 2,000,000, and zero for any other 

9 State. The population of a State within any 

10 area shall be determined on the basis of the 

11 most recent census estimate of resident popu12 lation released by the Bureau of Census before 

13 the earliest applicable disaster date for South14 eastern disaster areas within the State.’’ for 

15 ‘‘shall not exceed’’ and all that follows in para16 graph (4)(C), and 

17 (E) by substituting ‘‘the earliest applicable 

18 disaster date for Southeastern disaster areas 

19 within the State’’ for ‘‘August 28, 2005’’ in 

20 paragraph (5)(A). 

21 (9) TREATMENT OF PUBLIC UTILITY PROPERTY

22 DISASTER LOSSES.—Section 1400N(o), by sub23 stituting ‘‘Southeastern disaster area’’ for ‘‘Gulf Op24 portunity Zone’’ in paragraph (2)(A). 


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1 (10) EDUCATION TAX BENEFITS.—Section 

2 1400O, by substituting ‘‘2011 or 2012’’ for ‘‘2005 

3 or 2006’’. 

4 (11) SPECIAL RULES FOR USE OF RETIREMENT

5 FUNDS.—Section 1400Q— 

6 (A) by substituting ‘‘qualified Disaster Re7 covery Assistance distribution’’ for ‘‘qualified 

8 hurricane distribution’’ each place it appears, 

9 (B) by substituting ‘‘on or after the appli10 cable disaster date and before January 1, 

11 2013’’ for ‘‘on or after August 25, 2005, and 

12 before January 1, 2007’’ in subsection 

13 (a)(4)(A)(i), 

14 (C) by substituting ‘‘the applicable disaster 

15 date’’ for ‘‘August 28, 2005’’ in subsections 

16 (a)(4)(A)(i) and (c)(3)(B), 

17 (D) by disregarding clauses (ii) and (iii) of 

18 subsection (a)(4)(A) thereof, 

19 (E) by substituting ‘‘qualified storm dam20 age distribution’’ for ‘‘qualified Katrina dis21 tribution’’ each place it appears, 

22 (F) by substituting ‘‘after the date which 

23 is 6 months before the applicable disaster date 

24 and before the date which is the day after the 

25 applicable disaster date’’ for ‘‘after February 


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1 28, 2005, and before August 29, 2005’’ in sub2 section (b)(2)(B)(ii), 

3 (G) by substituting ‘‘the Southeastern dis4 aster area, but not so purchased or constructed 

5 on account of severe storms, tornados, or flood6 ing giving rise to the designation of the area as 

7 a disaster area’’ for ‘‘the Hurricane Katrina 

8 disaster area, but not so purchased or con9 structed on account of Hurricane Katrina’’ in 

10 subsection (b)(2)(B)(iii), 

11 (H) by substituting ‘‘beginning on the ap12 plicable disaster date and ending on the date 

13 which is 5 months after the date of the enact14 ment of the Southeastern Disaster Tax Relief 

15 Act of 2011’’ for ‘‘beginning on August 25, 

16 2005, and ending on February 28, 2006’’ in 

17 subsection (b)(3)(A), 

18 (I) by substituting ‘‘qualified storm dam19 age individual’’ for ‘‘qualified Hurricane 

20 Katrina individual’’ each place it appears, 

21 (J) by substituting ‘‘December 31, 2012’’ 

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

23 (c)(2)(A), 

24 (K) by disregarding subparagraphs (C) 

25 and (D) of subsection (c)(3) thereof, 


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1 (L) by substituting ‘‘beginning on the date 

2 of the enactment of the Southeastern Disaster 

3 Tax Relief Act of 2011 and ending on Decem4 ber 31, 2012’’ for ‘‘beginning on September 24, 

5 2005, and ending on December 31, 2006’’ in 

6 subsection (c)(4)(A)(i), 

7 (M) by substituting ‘‘the applicable dis8 aster date’’ for ‘‘August 25, 2005’’ in sub9 section (c)(4)(A)(ii), and 

10 (N) by substituting ‘‘January 1, 2013’’ for 

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

12 (12) EMPLOYEE RETENTION CREDIT FOR EM13 PLOYERS AFFECTED BY SEVERE STORMS, TOR14 NADOS, AND FLOODING.—Section 1400R(a)— 

15 (A) by substituting ‘‘$23,400’’ for 

16 ‘‘$6,000’’ in paragraph (1), 

17 (B) by substituting ‘‘the applicable disaster 

18 date’’ for ‘‘August 28, 2005’’ each place it ap19 pears, 

20 (C) by substituting ‘‘January 1, 2012’’ for 

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

22 (D) only with respect to eligible employers 

23 who employed an average of not more than 200 

24 employees on business days during the taxable 

25 year before the applicable disaster date. 


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1 (13) TEMPORARY SUSPENSION OF LIMITATIONS

2 ON CHARITABLE CONTRIBUTIONS.—Section 

3 1400S(a), by substituting the following paragraph 

4 for paragraph (4) thereof: 

5 ‘‘(4) QUALIFIED CONTRIBUTIONS.— 

6 ‘‘(A) IN GENERAL.—For purposes of this 

7 subsection, the term ‘qualified contribution’ 

8 means any charitable contribution (as defined 

9 in section 170(c)) if— 

10 ‘‘(i) such contribution— 

11 ‘‘(I) is paid during the period be12 ginning on the earliest applicable dis13 aster date for all States and ending 

14 on December 31, 2011, in cash to an 

15 organization described in section 

16 170(b)(1)(A), and 

17 ‘‘(II) is made for relief efforts in 

18 1 or more Southeastern disaster 

19 areas, 

20 ‘‘(ii) the taxpayer obtains from such 

21 organization contemporaneous written ac22 knowledgment (within the meaning of sec23 tion 170(f)(8)) that such contribution was 

24 used (or is to be used) for relief efforts in 

25 1 or more Southeastern disaster areas, and 


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1 ‘‘(iii) the taxpayer has elected the ap2 plication of this subsection with respect to 

3 such contribution. 

4 ‘‘(B) EXCEPTION.—Such term shall not in5 clude a contribution by a donor if the contribu6 tion is— 

7 ‘‘(i) to an organization described in 

8 section 509(a)(3), or 

9 ‘‘(ii) for establishment of a new, or 

10 maintenance of an existing, donor advised 

11 fund (as defined in section 4966(d)(2)). 

12 ‘‘(C) APPLICATION OF ELECTION TO PART13 NERSHIPS AND S CORPORATIONS.—In the case 

14 of a partnership or S corporation, the election 

15 under subparagraph (A)(iii) shall be made sepa16 rately by each partner or shareholder.’’. 

17 (14) SUSPENSION OF CERTAIN LIMITATIONS ON

18 PERSONAL CASUALTY LOSSES.—Section 

19 1400S(b)(1), by substituting ‘‘the applicable disaster 

20 date’’ for ‘‘August 25, 2005’’. 

21 (15) SPECIAL RULE FOR DETERMINING

22 EARNED INCOME.—Section 1400S(d)— 

23 (A) by treating an individual as a qualified 

24 individual if such individual’s principal place of 


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1 abode on the applicable disaster date was lo2 cated in a Southeastern disaster area, 

3 (B) by treating the applicable disaster date 

4 with respect to any such individual as the appli5 cable date for purposes of such subsection, and 

6 (C) by treating an area as described in 

7 paragraph (2)(B)(ii) thereof if the area is a 

8 Southeastern disaster area only by reason of 

9 subsection (b)(2) of this section (relating to 

10 areas eligible only for public assistance). 

11 (16) ADJUSTMENTS REGARDING TAXPAYER AND

12 DEPENDENCY STATUS.—Section 1400S(e), by sub13 stituting ‘‘2011 or 2012’’ for ‘‘2005 or 2006’’. 

14 (17) SPECIAL RULES FOR MORTGAGE REVENUE

15 BONDS.—Section 1400T, by substituting ‘‘2016’’ for 

16 ‘‘2010’’. 

17 (e) MODIFICATIONS TO KATRINA EMERGENCY TAX

18 RELIEF ACT OF 2005.—The following provisions of the 

19 Katrina Emergency Tax Relief Act of 2005 shall be ap20 plied with the following modifications: 

21 (1) ADDITIONAL EXEMPTION FOR HOUSING DIS22 PLACED INDIVIDUAL.—Section 302— 

23 (A) by substituting ‘‘2011 or 2012’’ for 

24 ‘‘2005 or 2006’’ in subsection (a) thereof, 


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1 (B) by substituting ‘‘Southeastern dis2 placed individual’’ for ‘‘Hurricane Katrina dis3 placed individual’’ each place it appears, and 

4 (C) by treating an area as a core disaster 

5 area for purposes of applying subsection (c) 

6 thereof if the area is a Southeastern disaster 

7 area without regard to subsection (b)(2) of this 

8 section (relating to areas eligible only for public 

9 assistance). 

10 (2) EXCLUSION OF CERTAIN CANCELLATION OF

11 INDEBTEDNESS INCOME.—Section 401— 

12 (A) by treating an individual whose prin13 cipal place of abode on the applicable disaster 

14 date was in a Southeastern disaster area (deter15 mined without regard to subsection (b)(2) of 

16 this section) as an individual described in sub17 section (b)(1) thereof, and by treating an indi18 vidual whose principal place of abode on the ap19 plicable disaster date was in a Southeastern dis20 aster area solely by reason of subsection (b)(2) 

21 of this section as an individual described in sub22 section (b)(2) thereof, 

23 (B) by substituting ‘‘the applicable disaster 

24 date’’ for ‘‘August 28, 2005’’ both places it ap25 pears, and 


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1 (C) by substituting ‘‘January 1, 2013’’ for 

2 ‘‘January 1, 2007’’ in subsection (e). 

3 (3) EXTENSION OF REPLACEMENT PERIOD FOR

4 NONRECOGNITION OF GAIN.—Section 405, by sub5 stituting ‘‘on or after the applicable disaster date’’ 

6 for ‘‘on or after August 25, 2005’’. 

7 SEC. 3. RESCISSION OF UNSPENT AND UNCOMMITTED FED8 ERAL FUNDS. 

9 (a) IN GENERAL.—Notwithstanding any other provi10 sion of law, of all available unobligated Federal funds, 

11 $12,000,000,000 in appropriated discretionary unexpired 

12 funds are rescinded. 

13 (b) IMPLEMENTATION.—Not later than 60 days after 

14 the date of enactment of this Act, the Director of the Of15 fice of Management and Budget shall— 

16 (1) identify the accounts and amounts rescinded 

17 to implement subsection (a); and 

18 (2) submit a report to the Secretary of the 

19 Treasury and Congress of the accounts and amounts 

20 identified under paragraph (1) for rescission. 

21 (c) EXCEPTION.—This section shall not apply to the 

22 unobligated Federal funds of the Department of Defense 

23 or the Department of Veterans Affairs. 

Æ 


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