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. ROG-
ERS 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 fol-
lowing 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 con-
cerned 
A BILL 
To provide temporary tax relief for areas damaged by 2011 
Southeastern severe storms, tornados, and flooding, 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 ‘‘Southeastern Disaster 
Tax Relief Act of 2011’’. 
VerDate Mar 15 2010 
03:21 Jun 29, 2011
Jkt 099200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6201
E:\BILLS\H2321.IH
H2321
tjames on DSKG8SOYB1PROD with BILLS
SEC. 2. TEMPORARY TAX RELIEF FOR AREAS DAMAGED BY 
2011 SOUTHEASTERN SEVERE STORMS, TOR-
NADOS, AND FLOODING. 
(a) IN GENERAL.—Subject to the modifications de-
scribed in this section, the following provisions of or relat-
ing to the Internal Revenue Code of 1986 shall apply to 
any Southeastern disaster area in addition to the areas 
to which such provisions otherwise apply: 
(1) GO ZONE BENEFITS.— 
(A) Section 1400N (relating to tax bene-
fits) other than subsections (d), (e), (g), (h), 
and (m) thereof. 
(B) Section 1400O (relating to education 
tax benefits). 
(C) Section 1400Q (relating to special 
rules for use of retirement funds). 
(D) Section 1400R(a) (relating to em-
ployee retention credit for employers). 
(E) Section 1400S (relating to additional 
tax relief). 
(F) Section 1400T (relating to special 
rules for mortgage revenue bonds). 
(2) OTHER BENEFITS INCLUDED IN KATRINA 
EMERGENCY
TAX
RELIEF
ACT
OF
2005.—Sections 
302, 401, and 405 of the Katrina Emergency Tax 
Relief Act of 2005. 
VerDate Mar 15 2010 
03:21 Jun 29, 2011
Jkt 099200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6201
E:\BILLS\H2321.IH
H2321
tjames on DSKG8SOYB1PROD with BILLS
(b) SOUTHEASTERN DISASTER AREA.— 
(1) IN GENERAL.—For purposes of this section 
and for applying the substitutions described in sub-
sections (d) and (e), the term ‘‘Southeastern disaster 
area’’ means an area— 
(A) with respect to which a major disaster 
has been declared by the President under sec-
tion 401 of the Robert T. Stafford Disaster Re-
lief and Emergency Assistance Act by reason of 
severe storms, tornados, or flooding occurring 
after April 13, 2011, and before June 7, 2011, 
in any of the States of Alabama, Arkansas, 
Georgia, Kentucky, Mississippi, Missouri, North 
Carolina, Oklahoma, and Tennessee, and 
(B) determined by the President to war-
rant individual or individual and public assist-
ance from the Federal Government under such 
Act with respect to damages attributable to 
such severe storms, tornados, or flooding. 
(2) CERTAIN BENEFITS AVAILABLE TO AREAS 
ELIGIBLE ONLY FOR PUBLIC ASSISTANCE.—For pur-
poses of applying this section to benefits under the 
following provisions, paragraph (1) shall be applied 
without regard to subparagraph (B): 
VerDate Mar 15 2010 
03:21 Jun 29, 2011
Jkt 099200
PO 00000
Frm 00003
Fmt 6652
Sfmt 6201
E:\BILLS\H2321.IH
H2321
tjames on DSKG8SOYB1PROD with BILLS
(A) Sections 1400N(f), 1400O, 1400Q, 
1400S(a), 1400S(b), and 1400S(d) of the In-
ternal Revenue Code of 1986. 
(B) Sections 302, 401, and 405 of the 
Katrina Emergency Tax Relief Act of 2005. 
(c) REFERENCES.— 
(1) AREA.—Any reference in such provisions to 
the Hurricane Katrina disaster area or the Gulf Op-
portunity Zone shall be treated as a reference to any 
Southeastern disaster area and any reference to the 
Hurricane Katrina disaster area or the Gulf Oppor-
tunity Zone within a State shall be treated as a ref-
erence to all Southeastern disaster areas within the 
State. 
(2) ITEMS ATTRIBUTABLE TO DISASTER.—Any 
reference in such provisions to any loss, damage, or 
other item attributable to Hurricane Katrina shall 
be treated as a reference to any loss, damage, or 
other item attributable to the severe storms, tor-
nados, or flooding giving rise to any Presidential 
declaration described in subsection (b)(1)(A). 
(3) APPLICABLE
DISASTER
DATE.—For pur-
poses of applying the substitutions described in sub-
sections (d) and (e), the term ‘‘applicable disaster 
date’’ means, with respect to any Southeastern dis-
VerDate Mar 15 2010 
03:21 Jun 29, 2011
Jkt 099200
PO 00000
Frm 00004
Fmt 6652
Sfmt 6201
E:\BILLS\H2321.IH
H2321
tjames on DSKG8SOYB1PROD with BILLS
aster area, the date on which the severe storms, tor-
nados, or flooding giving rise to the Presidential dec-
laration described in subsection (b)(1)(A) occurred. 
(d) MODIFICATIONS TO 1986 CODE.—The following 
provisions of the Internal Revenue Code of 1986 shall be 
applied with the following modifications: 
(1) TAX-EXEMPT
BOND
FINANCING.—Section 
1400N(a)— 
(A) by substituting ‘‘qualified Southeastern 
disaster area bond’’ for ‘‘qualified Gulf Oppor-
tunity Zone Bond’’ each place it appears, except 
that in determining whether a bond is a quali-
fied Southeastern disaster area bond, para-
graph (2)(A)(i) shall be applied by only treating 
costs as qualified project costs if— 
(i) in the case of a project involving a 
private business use (as defined in section 
141(b)(6)), either the person using the 
property suffered a loss in a trade or busi-
ness attributable to the severe storms, tor-
nados, or flooding giving rise to any Presi-
dential declaration described in subsection 
(b)(1)(A) or is a person designated for 
purposes of this section by the Governor of 
the State in which the project is located as 
VerDate Mar 15 2010 
03:21 Jun 29, 2011
Jkt 099200
PO 00000
Frm 00005
Fmt 6652
Sfmt 6201
E:\BILLS\H2321.IH
H2321
tjames on DSKG8SOYB1PROD with BILLS
a person carrying on a trade or business 
replacing a trade or business with respect 
to which another person suffered such a 
loss, and 
(ii) in the case of a project relating to 
public utility property, the project involves 
repair or reconstruction of public utility 
property damaged by such severe storms, 
tornados, or flooding, and 
(B) by substituting ‘‘any State in which a 
Southeastern disaster area is located’’ for ‘‘the 
State of Alabama, Louisiana, or Mississippi’’ in 
paragraph (2)(B), 
(C) by substituting ‘‘designated for pur-
poses of this section (on the basis of providing 
assistance to areas in the order in which such 
assistance is most needed)’’ for ‘‘designated for 
purposes of this section’’ in paragraph (2)(C), 
(D) by substituting ‘‘January 1, 2018’’ for 
‘‘January 1, 2012’’ in paragraph (2)(D), 
(E) in paragraph (3)(A)— 
(i) by substituting ‘‘$1,000’’ for 
‘‘$2,500’’, and 
(ii) by substituting ‘‘before the ear-
liest applicable disaster date for South-
VerDate Mar 15 2010 
03:21 Jun 29, 2011
Jkt 099200
PO 00000
Frm 00006
Fmt 6652
Sfmt 6201
E:\BILLS\H2321.IH
H2321
tjames on DSKG8SOYB1PROD with BILLS
eastern disaster areas within the State’’ 
for ‘‘before August 28, 2005’’, 
(F) by substituting ‘‘qualified South-
eastern disaster area repair or construction’’ for 
‘‘qualified GO Zone repair or construction’’ 
each place it appears, 
(G) by substituting ‘‘after the date of the 
enactment of the Southeastern Disaster Tax 
Relief Act of 2011 and before January 1, 
2018’’ for ‘‘after the date of the enactment of 
this paragraph and before January 1, 2012’’ in 
paragraph (7)(C), and 
(H) by disregarding paragraph (8) thereof. 
(2) ADVANCE REFUNDINGS OF CERTAIN TAX- 
EXEMPT BONDS.—Section 1400N(b)— 
(A) by substituting ‘‘after the date of the 
enactment of the Southeastern Disaster Tax 
Relief Act of 2011 and before January 1, 
2017’’ for ‘‘after the date of the enactment of 
this section and before January 1, 2011’’ in 
paragraphs (1) and (2), 
(B) by substituting ‘‘the applicable disaster 
date’’ for ‘‘August 28, 2005’’ in paragraphs (3) 
and (5)(A), 
VerDate Mar 15 2010 
03:21 Jun 29, 2011
Jkt 099200
PO 00000
Frm 00007
Fmt 6652
Sfmt 6201
E:\BILLS\H2321.IH
H2321
tjames on DSKG8SOYB1PROD with BILLS
(C) by substituting ‘‘any State in which a 
Southeastern disaster area is located,’’ for 
‘‘State of Alabama, Louisiana, or Mississippi,’’, 
and 
(D) by substituting the following para-
graph for paragraph (4) thereof: 
‘‘(4) AGGREGATE LIMIT.—The maximum aggre-
gate face amount of bonds which may be designated 
under this subsection by the Governor of a State 
shall not exceed 50 percent of the aggregate face 
amount of bonds which could otherwise be so des-
ignated.’’. 
(3) LOW-INCOME
HOUSING
CREDIT.—Section 
1400N(c)— 
(A) only with respect to calendar years 
2011, 2012, and 2013, 
(B) by substituting ‘‘Disaster Recovery As-
sistance housing amount’’ for ‘‘Gulf Oppor-
tunity housing amount’’ each place it appears, 
(C) in paragraph (1)(B)— 
(i) 
by 
substituting 
‘‘$8.00’’ 
for 
‘‘$18.00’’, and 
(ii) by substituting ‘‘before the ear-
liest applicable disaster date for South-
VerDate Mar 15 2010 
03:21 Jun 29, 2011
Jkt 099200
PO 00000
Frm 00008
Fmt 6652
Sfmt 6201
E:\BILLS\H2321.IH
H2321
tjames on DSKG8SOYB1PROD with BILLS