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 ‘‘Kansas Flood Recovery 
and Economic Opportunity Act of 2007’’. 
SEC. 2. INCREASED FEDERAL SHARE FOR DISASTER AS-
SISTANCE. 
(a) IN GENERAL.—Notwithstanding any other provi-
sion of law, including any agreement, the Federal share 
of assistance, including direct Federal assistance, provided 
for the State of Kansas in connection with the severe 
storms and flooding which began on June 26, 2007, and 
ended on July 25, 2007, under sections 403, 406, 407, 
and 408 of the Robert T. Stafford Disaster Relief and 
Emergency Assistance Act (42 U.S.C. 5170b, 5172, 5173, 
and 5174) shall be 100 percent of the eligible costs under 
such sections. 
(b) APPLICABILITY.— 
(1) IN GENERAL.—The Federal share provided 
by subsection (a) shall apply to disaster assistance 
applied for before the date of enactment of this Act. 
(2) LIMITATION.—In the case of disaster assist-
ance provided under sections 403, 406, and 407 of 
the Robert T. Stafford Disaster Relief and Emer-
gency Assistance Act, the Federal share provided by 
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subsection (a) shall be limited to assistance provided 
for projects for which a ‘‘request for public assist-
ance form’’ has been submitted. 
SEC. 3. TEMPORARY TAX RELIEF FOR FLOODED AREAS IN 
KANSAS. 
The following provisions of or relating to the Internal 
Revenue Code of 1986 shall apply, in addition to the areas 
described in such provisions, to an area with respect to 
which a major disaster has been declared by the President 
under section 401 of the Robert T. Stafford Disaster Re-
lief and Emergency Assistance Act (FEMA–1711–DR, as 
in effect on the date of the enactment of this Act) by rea-
son of severe storms and flooding beginning on June 26, 
2007, and determined by the President to warrant indi-
vidual or individual and public assistance from the Federal 
Government under such Act with respect to damages at-
tributed to such storms and flooding: 
(1) SUSPENSION OF CERTAIN LIMITATIONS ON 
PERSONAL CASUALTY LOSSES.—Section 1400S(b)(1) 
of the Internal Revenue Code of 1986, by sub-
stituting ‘‘June 26, 2007’’ for ‘‘August 25, 2005’’. 
(2) EXTENSION OF REPLACEMENT PERIOD FOR 
NONRECOGNITION
OF
GAIN.—Section 405 of the 
Katrina Emergency Tax Relief Act of 2005, by sub-
stituting ‘‘on or after June 26, 2007, by reason of 
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the severe storms and flooding described in the Kan-
sas Flood Recovery and Economic Opportunity Act 
of 2007’’ for ‘‘on or after August 25, 2005, by rea-
son of Hurricane Katrina’’. 
(3) EMPLOYEE
RETENTION
CREDIT
FOR
EM-
PLOYERS
AFFECTED
BY
JUNE
STORMS
AND 
FLOODS.—Section 1400R(a) of the Internal Revenue 
Code of 1986— 
(A) by substituting ‘‘June 26, 2007’’ for 
‘‘August 28, 2005’’ each place it appears, 
(B) by substituting ‘‘January 1, 2008’’ for 
‘‘January 1, 2006’’ both places it appears, and 
(C) only with respect to eligible employers 
who employed an average of not more than 200 
employees on business days during the most re-
cent taxable year ending before June 26, 2007. 
(4) SPECIAL ALLOWANCE FOR CERTAIN PROP-
ERTY ACQUIRED ON OR AFTER JUNE 26, 2007.—Sec-
tion 1400N(d) of such Code— 
(A) by substituting ‘‘qualified Recovery As-
sistance property’’ for ‘‘qualified Gulf Oppor-
tunity Zone property’’ each place it appears, 
(B) by substituting ‘‘June 26, 2007’’ for 
‘‘August 28, 2005’’ each place it appears, 
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(C) by substituting ‘‘December 31, 2008’’ 
for 
‘‘December 
31, 
2007’’ 
in 
paragraph 
(2)(A)(v), 
(D) by substituting ‘‘December 31, 2009’’ 
for 
‘‘December 
31, 
2008’’ 
in 
paragraph 
(2)(A)(v), 
(E) by substituting ‘‘June 25, 2007’’ for 
‘‘August 27, 2005’’ in paragraph (3)(A), 
(F) by substituting ‘‘January 1, 2009’’ for 
‘‘January 1, 2008’’ in paragraph (3)(B), and 
(G) determined without regard to para-
graph (6) thereof. 
(5) INCREASE IN EXPENSING UNDER SECTION 
179.—Section 1400N(e) of such Code, by sub-
stituting ‘‘qualified section 179 Recovery Assistance 
property’’ for ‘‘qualified section 179 Gulf Oppor-
tunity Zone property’’ each place it appears. 
(6) EXPENSING FOR CERTAIN DEMOLITION AND 
CLEAN-UP
COSTS.—Section 
1400N(f) 
of 
such 
Code— 
(A) by substituting ‘‘qualified Recovery As-
sistance clean-up cost’’ for ‘‘qualified Gulf Op-
portunity Zone clean-up cost’’ each place it ap-
pears, and 
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(B) by substituting ‘‘beginning on June 
26, 2007, and ending on December 31, 2009’’ 
for ‘‘beginning on August 28, 2005, and ending 
on December 31, 2007’’ in paragraph (2) there-
of. 
(7) INCREASE IN REHABILITATION CREDIT.— 
Section 1400N(h) of such Code by substituting ‘‘on 
June 26, 2007, and ending on December 31, 2009’’ 
for ‘‘on August 28, 2005, and ending on December 
31, 2008’’. 
(8) TREATMENT OF NET OPERATING LOSSES 
ATTRIBUTABLE
TO
STORM
LOSSES.—Section 
1400N(k) of such Code— 
(A) by substituting ‘‘qualified Recovery As-
sistance loss’’ for ‘‘qualified Gulf Opportunity 
Zone loss’’ each place it appears, 
(B) by substituting ‘‘after June 25, 2007, 
and before January 1, 2010’’ for ‘‘after August 
27, 2005, and before January 1, 2008’’ each 
place it appears, 
(C) by substituting ‘‘June 26, 2007’’ for 
‘‘August 28, 2005’’ in paragraph (2)(B)(ii)(I) 
thereof, 
(D) by substituting ‘‘qualified Recovery 
Assistance property’’ for ‘‘qualified Gulf Oppor-
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tunity Zone property’’ in paragraph (2)(B)(iv) 
thereof, and 
(E) by substituting ‘‘qualified Recovery As-
sistance casualty loss’’ for ‘‘qualified Gulf Op-
portunity Zone casualty loss’’ each place it ap-
pears. 
(9) TREATMENT OF PUBLIC UTILITY PROPERTY 
DISASTER LOSSES.—Section 1400N(o) of such Code. 
(10) TREATMENT
OF
REPRESENTATIONS
RE-
GARDING
INCOME
ELIGIBILITY
FOR
PURPOSES
OF 
QUALIFIED RENTAL PROJECT REQUIREMENTS.—Sec-
tion 1400N(n) of such Code. 
(11) SPECIAL RULES FOR USE OF RETIREMENT 
FUNDS.—Section 1400Q of such Code— 
(A) by substituting ‘‘qualified Recovery As-
sistance distribution’’ for ‘‘qualified hurricane 
distribution’’ each place it appears, 
(B) by substituting ‘‘on or after June 26, 
2007, and before January 1, 2009’’ for ‘‘on or 
after August 25, 2005, and before January 1, 
2007’’ in subsection (a)(4)(A)(i), 
(C) by substituting ‘‘qualified storm dis-
tribution’’ for ‘‘qualified Katrina distribution’’ 
each place it appears, 
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