datamatters24/research-document-archive huggingface dataset:
I 
109TH CONGRESS 
1ST SESSION 
H. R. 387 
To amend the Internal Revenue Code of 1986 to exclude disaster mitigation 
payments from gross income. 
IN THE HOUSE OF REPRESENTATIVES 
JANUARY 26, 2005 
Mr. JINDAL (for himself, Mr. MCCRERY, and Mr. ALEXANDER) 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 exclude 
disaster mitigation payments from gross income. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Disaster Prevention 
Protection Act of 2005’’. 
SEC. 2. EXCLUSION OF DISASTER MITIGATION PAYMENTS 
FROM GROSS INCOME. 
(a) IN GENERAL.—Section 139 of the Internal Rev-
enue Code of 1986 (relating to disaster relief payments)
is amended by adding at the end the following new sub-
section: 
‘‘(g) 
QUALIFIED
DISASTER
MITIGATION
PAY-
MENTS.— 
‘‘(1) IN GENERAL.—Gross income shall not in-
clude any amount received as a qualified disaster 
mitigation payment. 
‘‘(2) QUALIFIED
DISASTER
MITIGATION
PAY-
MENT DEFINED.—For purposes of this section, the 
term ‘qualified disaster mitigation payment’ means 
any amount which is paid pursuant to the Robert T. 
Stafford Disaster Relief and Emergency Assistance 
Act or the National Flood Insurance Act to or for 
the benefit of the owner of any property for hazard 
mitigation with respect to such property. 
‘‘(3) BASIS OF PROPERTY NOT INCREASED BY 
REASON
OF
EXCLUDABLE
PAYMENTS.—Notwith-
standing any provision of section 1016 to the con-
trary, no adjustment to basis shall be made with re-
spect to property acquired or improved through the 
use of any qualified disaster mitigation payment to 
the extent that such adjustment would reflect any 
amount which is excluded from gross income under 
paragraph (1).’’. 
(b) CONFORMING AMENDMENTS.—
(1) Subsection (d) of section 139 of such Code 
is amended by striking ‘‘a qualified disaster relief 
payment’’ and inserting ‘‘qualified disaster relief 
payments and qualified disaster mitigation pay-
ments’’. 
(2) Subsection (e) of section 139 of such Code 
is amended by striking ‘‘and (f)’’ and inserting 
‘‘, (f), and (g)’’. 
(3) The heading of section 139 of such Code is 
amended by striking ‘‘DISASTER RELIEF’’ and in-
serting ‘‘DISASTER-RELATED’’. 
(4) The item in the table of sections for part 
III of subchapter B of chapter 1 of such Code relat-
ing to section 139 is amended to read as follows: 
‘‘Sec. 139. Disaster-related payments.’’. 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply to amounts received before, on, or 
after the date of the enactment of this Act. 
Æ
I 
112TH CONGRESS 
1ST SESSION H. R. 2882 
To authorize the Secretary of the Interior to accept from the Board of 
Directors of the National September 11 Memorial and Museum at the 
World Trade Center Foundation, Inc., the donation of title to The 
National September 11 Memorial and Museum at the World Trade 
Center, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
SEPTEMBER 12, 2011 
Mr. NADLER introduced the following bill; which was referred to the 
Committee on Natural Resources 
A BILL 
To authorize the Secretary of the Interior to accept from 
the Board of Directors of the National September 11 
Memorial and Museum at the World Trade Center Foun-
dation, Inc., the donation of title to The National Sep-
tember 11 Memorial and Museum at the World Trade 
Center, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘National September 
11 Memorial and Museum Act of 2011’’. 
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pwalker on DSK5TPTVN1PROD with BILLS
I 
109TH CONGRESS 
1ST SESSION H. R. 3880 
To suspend temporarily the duty on certain parts of machinery for molding 
and forming certain articles. 
IN THE HOUSE OF REPRESENTATIVES 
SEPTEMBER 22, 2005 
Mr. JOHNSON of Illinois introduced the following bill; which was referred to 
the Committee on Ways and Means 
A BILL 
To suspend temporarily the duty on certain parts of 
machinery for molding and forming certain articles. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. CERTAIN PARTS OF MACHINERY FOR MOLDING 
AND FORMING CERTAIN ARTICLES. 
(a) IN GENERAL.—Subchapter II of chapter 99 of 
the Harmonized Tariff Schedule of the United States is 
amended by inserting in numerical sequence the following 
new heading:
(i) by striking ‘‘(within the meaning 
of paragraph (1) or (2) of subsection (g))’’ 
each place it appears, and 
(ii) by adding at the end the following 
new sentence: ‘‘For purposes of this para-
graph, the term ‘qualifying distributions’ 
means qualifying distributions within the 
meaning of paragraph (1) or (2) of sub-
section (g) (determined without regard to 
subsection (g)(4)).’’. 
(B) CONFORMING
AMENDMENT.—Section 
4942(f)(2)(C)(i) is amended by inserting ‘‘(de-
termined without regard to subsection (g)(4))’’ 
after ‘‘within the meaning of subsection 
(g)(1)(A)’’. 
(d) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
the date of the enactment of this Act. 
SEC. 106. EXCISE TAX ON UNRELATED BUSINESS TAXABLE 
INCOME 
OF 
CHARITABLE 
REMAINDER 
TRUSTS. 
(a) IN GENERAL.—Subsection (c) of section 664 (re-
lating to exemption from income taxes) is amended to read 
as follows: 
‘‘(c) TAXATION OF TRUSTS.—
tation, results of activities, and incidents of problem 
behavior are tracked to serve as a basis for modi-
fying activities and developing future plans. 
(4) Schools can improve the quality of their vio-
lence prevention activities by strengthening efforts to 
adopt, retain, or discard violence prevention pro-
grams based on research evidence on program effec-
tiveness. 
(5) Greater emphasis on monitoring the imple-
mentation of violence prevention activities would 
help ensure that such activities remain consistent 
with program models. Collecting information on the 
results of activities is critical, to gauge which activi-
ties are proving effective and which need to be 
strengthened or discontinued. 
(6) Schools and districts should be encouraged 
to focus on quality of training of staff that imple-
ment and supervise the violence prevention activities. 
SEC. 4. REPORTS. 
(a) INITIAL REPORT.—Not later than March 1, 2007, 
the Secretary of Education shall submit to Congress a re-
port that contains a copy of the guidelines relating to the 
‘‘Principles of Effectiveness’’ criteria developed pursuant 
to section 4115(a) of the Safe and Drug-Free Schools and
Communities Act (20 U.S.C. 7115(a)) and revised pursu-
ant to section 3 of this Act. 
(b) FINAL REPORT.—Not later than January 1, 
2010, the Secretary of Education shall submit to Congress 
a report on the implementation of the guidelines described 
in subsection (a), including any change in program effi-
cacy, types of programs funded, or reduction in school vio-
lence, as a result of such guidelines. 
Æ
‘‘ 
9902.77.85 
Parts not elsewhere specified 
or enumerated in subheading 
8477.90 (provided for in 
subheading 8477.90.85) for 
machinery of subheading 
8477.59.80 or subheading 
8477.80.00 for molding, 
forming, or working caps 
and other closures, or inner 
liners therefor, of rubber or 
plastics. ................................
Free 
No change 
No change 
On or before 
12/31/2010 
’’. 
(b) EFFECTIVE DATE.—The amendment made by 
subsection (a) applies to goods entered, or withdrawn from 
warehouse for consumption, on or after the 15th day after 
the date of enactment of this Act. 
Æ
‘‘(1) INCOME TAX.—A charitable remainder an-
nuity trust and a charitable remainder unitrust 
shall, for any taxable year, not be subject to any tax 
imposed by this subtitle. 
‘‘(2) EXCISE TAX.— 
‘‘(A) IN GENERAL.—In the case of a chari-
table remainder annuity trust or a charitable 
remainder unitrust that has unrelated business 
taxable income (within the meaning of section 
512, determined as if part III of subchapter F 
applied to such trust) for a taxable year, there 
is hereby imposed on such trust or unitrust an 
excise tax equal to the amount of such unre-
lated business taxable income. 
‘‘(B) CERTAIN RULES TO APPLY.—The tax 
imposed by subparagraph (A) shall be treated 
as imposed by chapter 42 for purposes of this 
title other than subchapter E of chapter 42. 
‘‘(C) CHARACTER OF DISTRIBUTIONS AND 
COORDINATION WITH DISTRIBUTION REQUIRE-
MENTS.—The amounts taken into account in 
determining unrelated business taxable income 
(as defined in subparagraph (A)) shall not be 
taken into account for purposes of— 
‘‘(i) subsection (b),
‘‘(ii) determining the value of trust 
assets under subsection (d)(2), and 
‘‘(iii) determining income under sub-
section (d)(3). 
‘‘(D) TAX
COURT
PROCEEDINGS.—For 
purposes of this paragraph, the references in 
section 6212(c)(1) to section 4940 shall be 
deemed to include references to this para-
graph.’’. 
(b) EFFECTIVE DATE.—The amendment made by 
this section shall apply to taxable years beginning after 
the date of the enactment of this Act. 
SEC. 107. EXPANSION OF CHARITABLE CONTRIBUTION AL-
LOWED FOR SCIENTIFIC PROPERTY USED 
FOR RESEARCH AND FOR COMPUTER TECH-
NOLOGY AND EQUIPMENT USED FOR EDU-
CATIONAL PURPOSES. 
(a) SCIENTIFIC PROPERTY USED FOR RESEARCH.— 
(1) IN
GENERAL.—Clause (ii) of section 
170(e)(4)(B) (defining qualified research contribu-
tions) is amended by inserting ‘‘or assembled’’ after 
‘‘constructed’’. 
(2) CONFORMING AMENDMENT.—Clause (iii) of 
section 170(e)(4)(B) is amended by inserting ‘‘or as-
sembling’’ after ‘‘construction’’.
(b) COMPUTER TECHNOLOGY AND EQUIPMENT FOR 
EDUCATIONAL PURPOSES.— 
(1) IN
GENERAL.—Clause (ii) of section 
170(e)(6)(B) is amended by inserting ‘‘or assem-
bled’’ after ‘‘constructed’’ and ‘‘or assembling’’ after 
‘‘construction’’. 
(2) 2-YEAR EXTENSION.—Subparagraph (G) of 
section 170(e)(6) is amended by striking ‘‘2005’’ 
and inserting ‘‘2007’’. 
(3) 
CONFORMING
AMENDMENTS.—Subpara-
graph (D) of section 170(e)(6) is amended by insert-
ing ‘‘or assembled’’ after ‘‘constructed’’ and ‘‘or as-
sembling’’ after ‘‘construction’’. 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
the date of the enactment of this Act. 
SEC. 108. ADJUSTMENT TO BASIS OF S CORPORATION 
STOCK 
FOR 
CERTAIN 
CHARITABLE 
CON-
TRIBUTIONS. 
(a) IN GENERAL.—Paragraph (2) of section 1367(a) 
(relating to adjustments to basis of stock of shareholders, 
etc.) is amended by adding at the end the following new 
flush sentence: 
‘‘The decrease under subparagraph (B) by reason of a 
charitable contribution (as defined in section 170(c)) of
112TH CONGRESS 
1ST SESSION H. R. 2883 
AN ACT 
To amend part B of title IV of the Social Security Act 
to extend the child and family services program through 
fiscal year 2016, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled,
technical and conforming amendments to reflect the 
changes made by this Act. 
(2) SUBMISSION TO CONGRESS.—Not later than 
6 months after the effective date of this title, the Di-
rector of the Federal Emergency Management Agen-
cy shall submit the recommended legislation referred 
to under subsection (a). 
SEC. 213. LIMITATION ON STATUTORY CONSTRUCTION. 
Nothing in this Act shall be construed to limit the 
primary mission of the Department of Homeland Security 
set forth in subparagraphs (A), (B), (E), (F), (G), and 
(H) of section 101(b) of the Homeland Security Act of 
2002 (6 U.S.C. 111(b)). 
Æ
I 
109TH CONGRESS 
1ST SESSION H. R. 3881 
To suspend temporarily the duty on machinery for molding and forming 
certain articles. 
IN THE HOUSE OF REPRESENTATIVES 
SEPTEMBER 22, 2005 
Mr. JOHNSON of Illinois introduced the following bill; which was referred to 
the Committee on Ways and Means 
A BILL 
To suspend temporarily the duty on machinery for molding 
and forming certain articles. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. MACHINERY FOR MOLDING AND FORMING CER-
TAIN ARTICLES. 
(a) IN GENERAL.—Subchapter II of chapter 99 of 
the Harmonized Tariff Schedule of the United States is 
amended by inserting in numerical sequence the following 
new heading:
‘‘ 
9902.77.77 
Machinery for molding or 
forming caps and other clo-
sures, or inner liners there-
for, of rubber or plastics 
(provided for in subheading 
8477.80.00) .........................
Free 
No change 
No change 
On or before 
12/31/2010 
’’. 
(b) EFFECTIVE DATE.—The amendment made by 
subsection (a) applies to goods entered, or withdrawn from 
warehouse for consumption, on or after the 15th day after 
the date of enactment of this Act. 
Æ
I 
109TH CONGRESS 
1ST SESSION H. R. 3882 
To preserve competitive equity in financial services. 
IN THE HOUSE OF REPRESENTATIVES 
SEPTEMBER 22, 2005 
Mr. LEACH introduced the following bill; which was referred to the Committee 
on Financial Services 
A BILL 
To preserve competitive equity in financial services. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Financial Safety and 
Equity Act of 2005’’. 
SEC. 2. PRESERVATION OF COMPETITIVE EQUITY IN FINAN-
CIAL SERVICES. 
Section 4 of the Bank Holding Company Act of 1956 
(12 U.S.C. 1843) is amended by adding at the end the 
following new subsection: 
‘‘(p) PRESERVATION OF COMPETITIVE EQUITY IN FI-
NANCIAL SERVICES.—— 
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‘‘(1) IN GENERAL.—Any company that controls 
an industrial loan company, industrial bank or simi-
lar institution described in section 2(c)(2)(H) of this 
Act shall become a financial holding company and 
shall comply with all of the conditions, requirements, 
restrictions and limitations that apply to a financial 
holding company under Federal law. 
‘‘(2) EXTENDED
DIVESTITURE
PERIOD
FOR 
NONCONFORMING
ACTIVITIES.—Notwithstanding 
paragraph (1) of this subsection or subsection (a), a 
company that owned or controlled an industrial loan 
company, industrial bank or similar institution de-
scribed in section 2(c)(2)(H) on January 1, 2005, 
and that was not a bank holding company or a for-
eign bank (as defined in section 1(b)(7) of the Inter-
national Banking Act of 1978) on that date shall 
conform its activities and investments to the require-
ments of this Act no later than the date that is 5 
years after the effective date of this subsection.’’. 
Æ 
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‘‘(3) QUALIFIED GAMES OF CHANCE.—For pur-
poses of paragraph (1), the term ‘qualified game of 
chance’ means any game of chance (other than 
bingo) conducted by an organization if— 
‘‘(A) such organization is licensed pursu-
ant to State law to conduct such game, 
‘‘(B) only organizations which are orga-
nized as nonprofit corporations or are exempt 
from tax under section 501(a) may be so li-
censed to conduct such game within the State, 
and 
‘‘(C) the conduct of such game does not 
violate State or local law.’’. 
(c) CLERICAL AMENDMENT.—The subsection head-
ing of section 513(f) is amended by striking ‘‘BINGO 
GAMES’’ and inserting ‘‘GAMES OF CHANCE’’. 
(d) EFFECTIVE DATE.—The amendments made by 
this section shall apply to games conducted after the date 
of the enactment of this Act. 
SEC. 111. EXCISE TAXES EXEMPTION FOR BLOOD COL-
LECTOR ORGANIZATIONS. 
(a) EXEMPTION FROM IMPOSITION
OF SPECIAL 
FUELS TAX.—Section 4041(g) (relating to other exemp-
tions) is amended by striking ‘‘and’’ at the end of para-
graph (3), by striking the period in paragraph (4) and
inserting ‘‘; and’’, and by inserting after paragraph (4) 
the following new paragraph: 
‘‘(5) with respect to the sale of any liquid to a 
qualified blood collector organization (as defined in 
section 7701(a)(49)) for such organization’s exclu-
sive use, or with respect to the use by a qualified 
blood collector organization of any liquid as a fuel.’’. 
(b) EXEMPTION FROM MANUFACTURERS EXCISE 
TAX.— 
(1) IN GENERAL.—Section 4221(a) (relating to 
certain tax-free sales) is amended by striking ‘‘or’’ 
at the end of paragraph (4), by adding ‘‘or’’ at the 
end of paragraph (5), and by inserting after para-
graph (5) the following new paragraph: 
‘‘(6) to a qualified blood collector organization 
(as defined in section 7701(a)(49)) for such organi-
zation’s exclusive use,’’. 
(2) CONFORMING AMENDMENTS.— 
(A) The second sentence of section 
4221(a) is amended by striking ‘‘Paragraphs 
(4) and (5)’’ and inserting ‘‘Paragraphs (4), 
(5), and (6)’’. 
(B) Section 6421(c) is amended by strik-
ing ‘‘or (5)’’ and inserting ‘‘(5), or (6)’’.
(c) EXEMPTION
FROM
COMMUNICATION
EXCISE 
TAX.— 
(1) IN GENERAL.—Section 4253 (relating to ex-
emptions) is amended by redesignating subsection 
(k) as subsection (l) and inserting after subsection 
(j) the following new subsection: 
‘‘(k) EXEMPTION
FOR
QUALIFIED
BLOOD
COL-
LECTOR ORGANIZATIONS.—Under regulations provided by 
the Secretary, no tax shall be imposed under section 4251 
on any amount paid by a qualified blood collector organi-
zation (as defined in section 7701(a)(49)) for services or 
facilities furnished to such organization.’’. 
(2) 
CONFORMING
AMENDMENT.—Section 
4253(l), as redesignated by paragraph (1), is 
amended by striking ‘‘or (j)’’ and inserting ‘‘(j), or 
(k)’’. 
(d) CREDIT FOR REFUND FOR CERTAIN TAXES ON 
SALES AND SERVICES.— 
(1) DEEMED OVERPAYMENT.— 
(A) IN GENERAL.—Section 6416(b)(2) is 
amended by redesignating subparagraphs (E) 
and (F) as subparagraphs (F) and (G), respec-
tively, and by inserting after subparagraph (D) 
the following new subparagraph:
‘‘(c) AUTHORITY TO REQUIRE DISPOSITION OR ACQUI-
SITION.—The Director shall monitor the portfolio of each 
enterprise. Pursuant to subsection (a) and notwithstanding 
the capital classifications of the enterprises, the Director 
may, by order, require an enterprise, under such terms and 
conditions as the Director determines to be appropriate, to 
dispose of or acquire any asset, if the Director determines 
that such action is consistent with the purposes of this Act 
or any of the authorizing statutes.’’. 
(b) REGULATIONS.—Not later than the expiration of 
the 180-day period beginning on the effective date of this 
Act, the Director shall issue regulations pursuant to section 
1369E(a) of the Federal Housing Enterprises Financial 
Safety and Soundness Act of 1992 (as added by subsection 
(a) of this section) establishing the portfolio holdings stand-
ards under such section. 
SEC. 1110. RISK-BASED CAPITAL REQUIREMENTS. 
(a) IN GENERAL.—Section 1361 of the Federal Hous-
ing Enterprises Financial Safety and Soundness Act of 
1992 (12 U.S.C. 4611) is amended to read as follows: 
‘‘SEC. 1361. RISK-BASED CAPITAL LEVELS FOR REGULATED 
ENTITIES. 
‘‘(a) IN GENERAL.— 
‘‘(1) ENTERPRISES.—The Director shall, by reg-
ulation, establish risk-based capital requirements for
I 
109TH CONGRESS 
1ST SESSION H. R. 3658 
To amend the Haitian Refugee Immigration Fairness Act of 1998. 
IN THE HOUSE OF REPRESENTATIVES 
SEPTEMBER 6, 2005 
Mr. MEEK of Florida introduced the following bill; which was referred to the 
Committee on the Judiciary 
A BILL 
To amend the Haitian Refugee Immigration Fairness Act 
of 1998. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘HRIFA Improvement 
Act of 2005’’. 
SEC. 2. AMENDMENTS TO HAITIAN AND IMMIGRANT FAIR-
NESS ACT OF 1998. 
(a) GROUND FOR INADMISSIBILITY FOR DOCUMENT 
FRAUD DOES NOT APPLY.—The Haitian Refugee Immi-
gration Fairness Act of 1998 (8 U.S.C. 1255 note) is
amended in subsections (a)(1)(B) and (d)(1)(D) of section 
902 by inserting ‘‘(6)(C)(i),’’ after ‘‘(6)(A),’’. 
(b) DETERMINATIONS WITH RESPECT
TO CHIL-
DREN.—Section 902(d) of such Act is amended by adding 
at the end the following: 
‘‘(3) DETERMINATIONS
WITH
RESPECT
TO 
CHILDREN.— 
‘‘(A) 
USE
OF
APPLICATION
FILING 
DATE.—Determinations made under this sub-
section as to whether an individual is a child of 
a parent shall be made using the age and status 
of the individual on the date of the enactment 
of this section. 
‘‘(B) APPLICATION
SUBMISSION
BY
PAR-
ENT.—Notwithstanding paragraph (1)(C), an 
application under this subsection filed based on 
status as a child may be filed for the benefit of 
such child by a parent or guardian of the child, 
if the child is physically present in the United 
States on such filing date.’’. 
SEC. 3. NEW APPLICATIONS AND MOTIONS TO REOPEN. 
(a) NEW APPLICATIONS.—Notwithstanding section 
902(a)(1)(A) of the Haitian and Immigrant Fairness Act 
of 1998, an alien who is eligible for adjustment of status 
under such Act, as amended by section 2 of this Act, may
submit an application for adjustment of status under such 
Act not later than the later of— 
(1) 2 years after the date of the enactment of 
this Act; and 
(2) 1 year after the date on which final regula-
tions implementing this Act are promulgated. 
(b) MOTIONS TO REOPEN.—The Secretary of Home-
land Security shall establish procedures for the reopening 
and reconsideration of applications for adjustment of sta-
tus under the Haitian Refugee Immigration Fairness Act 
of 1998 that are affected by the amendments under sec-
tion 2 of this Act. 
(c) RELATIONSHIP OF APPLICATION TO CERTAIN OR-
DERS.—Section 902(a)(3) of the Haitian and Immigrant 
Fairness Act of 1998 shall apply to an alien present in 
the United States who has been ordered excluded, de-
ported, removed, or ordered to depart voluntarily, and who 
files an application under subsection (a), or a motion 
under subsection (b), in the same manner as such section 
902(a)(3) applied to aliens filing applications for adjust-
ment of status under such Act before April 1, 2000. 
Æ
103D CONGRESS
1ST SESSION
H. R. 2294
AN ACT
To redesignate the Post Office building located at
1000 Lamar Street in Wichita Falls, Texas, as
the ‘‘Graham B. Purcell, Jr. Post Office Build-
ing’’.
‘‘(b) QUALIFIED TIMBER GAIN NOT TAKEN INTO AC-
COUNT.—For purposes of this section, in the case of a 
corporation with respect to which an election is in effect 
under section 1203, the net capital gain for any any tax-
able year shall be reduced (but not below zero) by the cor-
poration’s qualified timber gain (as defined in section 
1203(b)).’’. 
(c) DEDUCTION ALLOWED WHETHER OR NOT INDI-
VIDUAL ITEMIZES OTHER DEDUCTIONS.—Subsection (a) 
of section 62 of the Internal Revenue Code of 1986 is 
amended by inserting before the last sentence the fol-
lowing new paragraph: 
‘‘(21) QUALIFIED TIMBER GAINS.—The deduc-
tion allowed by section 1203.’’. 
(d) DEDUCTION
ALLOWED
IN
COMPUTING
AD-
JUSTED CURRENT EARNINGS.—Subparagraph (C) of sec-
tion 56(g)(4) of the Internal Revenue Code of 1986 is 
amended by adding at the end the following new clause: 
‘‘(vii) DEDUCTION
FOR
QUALIFIED 
TIMBER GAIN.—Clause (i) shall not apply 
to any deduction allowed under section 
1203.’’. 
(e) DEDUCTION ALLOWED IN COMPUTING TAXABLE 
INCOME OF ELECTING SMALL BUSINESS TRUSTS.—Sub-
paragraph (C) of section 641(c)(2) of the Internal Rev-
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