‘‘SEC. 59D. TERMINATION; DEFINITIONS AND SPECIAL
RULES.
‘‘(a) TERMINATION.—The taxes imposed by this part
shall not apply to any taxable year beginning in a calendar
year during which the Disaster Relief Trust Fund financ-
ing rate under section 4081 does not apply.
‘‘(b) SURTAX PERCENTAGE.—For purposes of this
part, the term ‘surtax percentage’ means, with respect to
taxable years beginning in a calendar year, the percentage
determined by the Secretary for such calendar year which
the Secretary estimates will, when added to all other pro-
jected sources of revenue for the trust fund, provide the
Disaster Relief Trust Fund from taxable years beginning
in such calendar year with $4,000,000,000 in revenue.
‘‘(c) SECTION 15 NOT TO APPLY.—Section 15 shall
not apply to any change in rates under this part.
‘‘(d) ADJUSTMENT
TO APPLICATION
OF CERTAIN
PROVISIONS.—
‘‘(1) DIVIDENDS PAID ON CERTAIN PREFERRED
STOCK.—In computing for a taxable year of a cor-
poration 
the 
fractions 
described 
in 
sections
244(a)(2) and 247(a)(2), the denominator shall,
under regulations prescribed by the Secretary, be in-
creased to reflect the provisions of this part.
‘‘(2) SHAREHOLDERS OF REGULATED INVEST-
MENT COMPANIES.—In computing the adjustment to
basis described in section 852(b)(3)(D)(iii), the per-
centage set forth therein shall be adjusted, under
regulations prescribed by the Secretary, to reflect
the provisions of this part.’’
(b) CLERICAL AMENDMENT.—The table of parts for
subchapter A of chapter 1 of such Code is amended by
adding at the end thereof the following new item:
‘‘Part VIII. Tax surcharge for disaster relief.’’
(c) EFFECTIVE DATE.—The amendments made by
this section shall apply to taxable years beginning after
December 31, 1993.
SEC. 5. TRANSFER OF FUNDS OF THE COMMODITY CREDIT
CORPORATION TO THE DISASTER RELIEF
TRUST FUND.
(a) SURPLUS CROP LOSS ASSISTANCE.—
(1) TRANSFER REQUIRED.—From funds appro-
priated or otherwise made available to provide emer-
gency crop loss assistance during a fiscal year pur-
suant the terms and conditions contained in chapter
3 of subtitle B of title XXII of the Food, Agri-
culture, Conservation, and Trade Act of 1990 (Pub-
lic Law 101–624; 7 U.S.C. 1421 note) or any suc-
cessor to such chapter, the Secretary of Agriculture
shall transfer to the Disaster Relief Trust Fund es-
tablished in section 9512 of the Internal Revenue
Code of 1986 all such funds that are unobligated at
the end of that fiscal year and that the Secretary de-
termines are not required to complete operations of
the crop loss assistance program for that fiscal year.
(2) TIME FOR TRANSFER.—The Secretary shall
make any transfer required by this subsection as
soon as possible after the end of the fiscal year in-
volved.
(b) SURPLUS PRICE SUPPORT FUNDS.—
(1) TRANSFER REQUIRED.—If the Secretary of
Agriculture determines that expenditures to provide
price support for an agricultural commodity under
the Agricultural Act of 1949 (7 U.S.C. 1421 et seq.)
for a fiscal year are reduced as a consequence of an
increase in the price of the commodity directly relat-
ed to crop losses resulting from damaging weather
or other disaster, the Secretary shall transfer to the
Disaster Relief Trust Fund established in section
9512 of the Internal Revenue Code of 1986 an
amount equal to—
(A) the difference between the price sup-
port expenditures that the Secretary estimates
would otherwise have been made with respect to
that commodity during that fiscal year in the
absence of such price increase; and
(B) the amount of the expenditures actu-
ally made with respect to that commodity.
(2) TIME
FOR
DETERMINATION.—The Sec-
retary shall make a determination under this sub-
section for an agricultural commodity whenever the
Secretary provides crop loss assistance with respect
to that commodity pursuant to the terms and condi-
tions contained in chapter 3 of subtitle B of title
XXII of the Food, Agriculture, Conservation, and
Trade Act of 1990 (Public Law 101–624; 7 U.S.C.
1421 note) or any successor to such chapter.
(3) TIME FOR TRANSFER.—The Secretary shall
make any transfer required by this subsection as
soon as possible after the end of the fiscal year in-
volved.
(c) LIMITATION ON TRANSFERS.—No amount may
be transferred under this section to the extent such trans-
fer would increase the unobligated balance in the Disaster
Relief Trust Fund to an amount in excess of the limitation
of section 4081(d)(4) of the Internal Revenue Code of
1986.
SEC. 6. REPORT TO CONGRESS.
(a) IN GENERAL.—Not later than 1 year after the
date of the enactment of this Act, the Director of the Fed-
eral Emergency Management Agency shall transmit to
Congress a report on insurance programs which provide
coverage for losses due to disasters of the types that have
been the subject of Presidential disaster declarations in
the last 25 years.
(b) CONTENTS.—The report to be transmitted under
subsection (a) shall contain the following:
(1) A description of Federal and private insur-
ance programs which provide coverage for losses due
to such disasters.
(2) A description of the availability of insurance
under such programs.
(3) An analysis of the need for additional insur-
ance programs to provide coverage for losses due to
disasters and recommendations on what role, if any,
the Federal Government should perform in establish-
ing and maintaining such insurance.
(4) An analysis of the effect of establishing
such additional insurance programs on revenue lev-
els required for maintenance of the Disaster Trust
Fund.
(5) Recommendations for legislative and admin-
istrative programs to reduce losses due to disasters,
including the anticipated cost and effectiveness of
such programs.