datamatters24/research-document-archive huggingface dataset:
II
Calendar No. 176
107TH CONGRESS
1ST SESSION
H. R. 146
[Report No. 107–74]
IN THE SENATE OF THE UNITED STATES
MAY 10, 2001
Received; read twice and referred to the Committee on Energy and Natural
Resources
OCTOBER 1, 2001
Reported by Mr. BINGAMAN, without amendment
AN ACT
To authorize the Secretary of the Interior to study the suit-
ability and feasibility of designating the Great Falls His-
toric District in Paterson, New Jersey, as a unit of
the National Park System, 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 ‘‘Great Falls Historic
District Study Act of 2001’’.
HR 146 RS
SEC. 2. NATIONAL PARK SERVICE STUDY REGARDING
GREAT 
FALLS 
HISTORIC 
DISTRICT,
PATERSON, NEW JERSEY.
(a) DEFINITIONS.—In this section:
(1) GREAT
FALLS
HISTORIC
DISTRICT.—The
term ‘‘Great Falls Historic District’’ means the
Great Falls Historic District in the city of Paterson,
New Jersey, established as an historic district by
section 510 of the Omnibus Parks and Public Lands
Management Act of 1996 (Public Law 104–333;
110 Stat. 4158; 16 U.S.C. 461 note).
(2) SECRETARY.—The term ‘‘Secretary’’ means
the Secretary of the Interior, acting through the Di-
rector of the National Park Service.
(b) STUDY.—As soon as practicable after funds are
made available to carry out this section, the Secretary
shall commence a study regarding the suitability and feasi-
bility of further recognizing the historic and cultural sig-
nificance of the lands and structures of the Great Falls
Historic District through the designation of the Great
Falls Historic District as a unit of the National Park Sys-
tem.
(c) STUDY PROCESS
AND COMPLETION.—Section
8(c) of Public Law 91–383 (16 U.S.C. 1a–5(c)) shall
apply to the study required by this section.
HR 146 RS
(d) SUBMISSION.—The Secretary shall submit to the
Committee on Resources of the House of Representatives
and the Committee on Energy and Natural Resources of
the Senate a report describing the results of the study.
(e) AUTHORIZATION
OF APPROPRIATIONS.—There
are authorized to be appropriated such sums as are nec-
essary to carry out this section.
Passed the House of Representatives May 9, 2001.
Attest:
JEFF TRANDAHL,
Clerk.
application for the permit may satisfy the
requirements of this paragraph for public
notice and comment.
‘‘(F) 
DECISION
DEADLINE.—The 
Sec-
retary, in consultation with the mitigation bank
review team, shall decide whether to issue a
mitigation banking charter not later than 90
days after the date of filing of a completed
charter application.
‘‘(G) EXTENSION OF DEADLINE.—If addi-
tional time is needed to file comments, to pro-
vide for a hearing, to provide for further review
of comments, or to provide for a reply to ad-
verse comments, the Secretary may extend the
time for review once for 90 days.
‘‘(H) DETERMINATION.—After a review of
public comments and any reply by the appli-
cant, the Secretary may, in accordance with
subparagraph (A) and after appropriate coordi-
nation and consultation, issue the charter, deny
the charter, or issue the charter with modifica-
tions. The Secretary’s decision shall be based
on the entire public record.
‘‘(I) AMENDMENTS.—Additional projects
may be added to a mitigation bank charter by
HR 1499 EAS
484(a)(5) of the Higher Education Act of 1965
(20 U.S.C. 1091(a)(5));’’.
SEC. 3. PRIVATE SCHOOL PROGRAM.
Section 5(c)(1)(B) of the District of Columbia College
Access Act of 1999 is amended by striking ‘‘The main cam-
pus of which is located in the State of Maryland or the
Commonwealth of Virginia’’.
SEC. 4. GENERAL REQUIREMENTS.
Section 6 of the District of Columbia College Access
Act of 1999 is amended—
(1) by striking subsection (b) and inserting the
following:
‘‘(b) ADMINISTRATIVE EXPENSES.—
‘‘(1) IN GENERAL.—The Mayor of the District of
Columbia may not use more than 7 percent of the
total amount of Federal funds appropriated for the
program, retroactive to the date of enactment of this
Act (the District of Columbia College Access Act of
1999), for the administrative expenses of the program.
‘‘(2) DEFINITION.—In this subsection, the term
‘administrative expenses’ means any expenses that are
not directly used to pay the cost of tuition and fees
for eligible students to attend eligible institutions.’’;
(2) by redesignating subsections (e) and (f) as
subsections (f) and (g);
‘‘(1) be comprehensive in addressing the coun-
seling and educational needs of all students;
‘‘(2) use a developmental, preventive approach
to counseling;
‘‘(3) increase the range, availability, quantity,
and quality of counseling services in the elementary
and secondary schools of the local educational agen-
cy;
‘‘(4) expand counseling services through quali-
fied school counselors, school psychologists, school
social workers, and child and adolescent psychia-
trists;
‘‘(5) use innovative approaches to increase chil-
dren’s understanding of peer and family relation-
ships, work and self, decisionmaking, or academic
and career planning, or to improve peer interaction;
‘‘(6) provide counseling services in settings that
meet the range of needs of students;
‘‘(7) include inservice training, including train-
ing for teachers in appropriate identification and
intervention techniques for disciplining and teaching
students at risk of violent behavior, by school coun-
selors, school psychologists, school social workers,
and child and adolescent psychiatrists;
‘‘(B) APPLICATION AND PROCEDURE.—An
applicant for a mitigation bank charter shall
submit to the Secretary an application and sup-
porting materials signed by a responsible offi-
cial acting on behalf of the applicant certifying
the accuracy of the information contained in
the application and materials. The application
shall include, at a minimum, information on the
criteria contained in subparagraph (A). The
Secretary shall advise the applicant, not later
than 30 days after the date of filing, of whether
the application is complete and advise the appli-
cant, in writing at that time, of any additional
materials that must be submitted in order to
complete the application. The Secretary shall
also transmit a copy of the complete charter ap-
plication to the affected State, and to the heads
of appropriate Federal agencies, each of which
shall have 60 days, to run concurrently, to file
written comments, which shall be part of the
record. If no comments are filed before the last
day of such 60-day period, the Secretary may
presume that the entities do not object to the
charter.
‘‘(C) MITIGATION BANK REVIEW TEAM.—
The mitigation bank review team, as defined in
the Federal Guidance, shall be responsible for
reviewing charter applications, reaching con-
sensus on the terms of the charter, and coordi-
nating, as necessary, to ensure effective imple-
mentation of the terms of the charter. The Sec-
retary or the State (in the case of a State ad-
ministering 
a 
program 
under 
subsection
(h)(2)(A)) shall be the chair of the mitigation
bank review team and have the responsibility
for making final decisions regarding the terms
of the charter if consensus cannot be reached
within the timeframes provided by this sub-
section.
‘‘(D) COORDINATION.—To the extent pos-
sible, the Secretary shall coordinate the proc-
essing of a mitigation bank charter application
under this subsection with the processing of ap-
plications by such applicant for other permits
required under this section, in order that deter-
minations with respect to such permits may be
made concurrently with the final decision on the
bank charter.
‘‘(E) NOTICE.—
in any fiscal year may be used for administrative costs
to carry out this section.
‘‘(e) DEFINITIONS.—For purposes of this section—
‘‘(1) the term ‘school counselor’ means an indi-
vidual who has documented competence in coun-
seling children and adolescents in a school setting
and who—
‘‘(A) possesses State licensure or certifi-
cation granted by an independent professional
regulatory authority;
‘‘(B) in the absence of such State licensure
or certification, possesses national certification
in school counseling or a specialty of counseling
granted by an independent professional organi-
zation; or
‘‘(C) holds a minimum of a master’s de-
gree in school counseling from a program ac-
credited by the Council for Accreditation of
Counseling and Related Educational Programs
or the equivalent;
‘‘(2) the term ‘school psychologist’ means an in-
dividual who—
‘‘(A) possesses a minimum of 60 graduate
semester hours in school psychology from an in-
stitution of higher education and has completed
I
107TH CONGRESS
1ST SESSION
H. R. 1477
To amend the Internal Revenue Code of 1986 to provide a refundable credit
to elementary and secondary school teachers for teaching expenses.
IN THE HOUSE OF REPRESENTATIVES
APRIL 4, 2001
Mr. KIND (for himself and Mr. MCGOVERN) 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 provide
a refundable credit to elementary and secondary school
teachers for teaching expenses.
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled,
SECTION 1. REFUNDABLE CREDIT FOR TEACHING EX-
PENSES OF ELEMENTARY AND SECONDARY
SCHOOL TEACHERS.
(a) IN GENERAL.—Subpart C of part IV of sub-
chapter A of chapter 1 of the Internal Revenue Code of
1986 (relating to refundable credits) is amended by redes-
ignating section 35 as section 36 and by inserting after
section 34 the following new section:
‘‘SEC. 35. TEACHING EXPENSES OF ELEMENTARY AND SEC-
ONDARY SCHOOL TEACHERS.
‘‘(a) ALLOWANCE OF CREDIT.—In the case of an eli-
gible teacher, there shall be allowed as a credit against
the tax imposed by this chapter for such taxable year an
amount equal to the qualified teaching expenses which are
paid or incurred by the taxpayer during such taxable year.
‘‘(b) MAXIMUM CREDIT.—The credit allowed by sub-
section (a) for any taxable year shall not exceed $500.
‘‘(c) DEFINITIONS.—For purposes of this section:
‘‘(1) ELIGIBLE TEACHER.—The term ‘eligible
teacher’ means an individual who is a kindergarten
through grade 12 classroom teacher, instructor,
counselor, aide, or principal in an elementary or sec-
ondary school.
‘‘(2) ELIGIBLE
TEACHING
EXPENSES.—The
term ‘eligible teaching expenses’ means expenses for
books, supplies, and equipment used by an eligible
teacher for instructional purposes.
‘‘(3) ELEMENTARY OR SECONDARY SCHOOL.—
The term ‘elementary or secondary school’ means
any elementary school or secondary school, as those
terms are defined in section 14101 of the Elemen-
tary and Secondary Education Act of 1965.
‘‘(d) DENIAL OF DOUBLE BENEFIT.—No deduction
shall be allowed under this chapter for any expense for
which credit is allowed under this section.’’.
(b) CONFORMING AMENDMENTS.—
(1) Paragraph (2) of section 1324(b) of title
31, United States Code, is amended by inserting be-
fore the period ‘‘, or from section 35 of such Code’’.
(2) The table of sections for subpart C of part
IV of subchapter A of chapter 1 of such Code is
amended by striking the last item and inserting the
following new items:
‘‘Sec. 35. Teaching expenses of elementary and secondary school
teachers.
‘‘Sec. 36. Overpayments of tax.’’.
(c) EFFECTIVE DATE.—The amendments made by
this section shall apply to taxable years beginning after
December 31, 2001.
Æ
I
107TH CONGRESS
1ST SESSION
H. R. 147
To amend the Internal Revenue Code of 1986 to exclude certain severance
payment amounts from income.
IN THE HOUSE OF REPRESENTATIVES
JANUARY 3, 2001
Mr. PASCRELL 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
certain severance payment amounts from 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 ‘‘Layoff Tax Relief Act
of 2001’’.
SEC. 2. EXCLUSION FROM INCOME OF SEVERANCE PAY-
MENT AMOUNTS.
(a) IN GENERAL.—Part III of subchapter B of chap-
ter 1 of the Internal Revenue Code of 1986 (relating to
items specifically excluded from gross income) is amended
by redesignating section 139 as section 140 and by insert-
ing after section 138 the following new section:
‘‘SEC. 139. SEVERANCE PAYMENTS.
‘‘(a) IN GENERAL.—In the case of an individual,
gross income shall not include any qualified severance pay-
ment.
‘‘(b) LIMITATION.—The amount to which the exclu-
sion under subsection (a) applies shall not exceed $2,500
with respect to each separation from employment de-
scribed in subsection (c)(2).
‘‘(c) QUALIFIED SEVERANCE PAYMENT.—For pur-
poses of this section—
‘‘(1) IN GENERAL.—The term ‘qualified sever-
ance payment’ means any payment received by an
individual if—
‘‘(A) such payment was paid by such indi-
vidual’s employer on account of such individ-
ual’s separation from employment, and
‘‘(B) such separation was in connection
with a reduction in the work force of the em-
ployer.
‘‘(2) LIMITATION.—Such term shall not include
any payment received by an individual if the aggre-
gate payments received with respect to the separa-
tion from employment exceed $150,000.’’.
(b) CLERICAL AMENDMENT.—The table of sections
for part III of subchapter B of chapter 1 of such Code
is amended by striking the item relating to section 139
and inserting the following new items:
‘‘Sec. 139. Severance payments.
‘‘Sec. 140. Cross references to other Acts.’’.
(c) EFFECTIVE DATE.—The amendments made by
this section shall apply to taxable years beginning after
December 31, 2000.
Æ
I
107TH CONGRESS
1ST SESSION
H. R. 1480
To amend the Securities Exchange Act of 1934 to reduce fees on securities
transactions.
IN THE HOUSE OF REPRESENTATIVES
APRIL 4, 2001
Mr. LAFALCE (for himself, Mr. KANJORSKI, Mr. FRANK, Ms. WATERS, Mr.
TOWNS, Mr. DINGELL, and Mr. MARKEY) introduced the following bill;
which was referred to the Committee on Financial Services
A BILL
To amend the Securities Exchange Act of 1934 to reduce
fees on securities transactions.
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 ‘‘Fairness in Securities
Transactions Act’’.
SEC. 2. IMMEDIATE FEE REDUCTION.
Section 31 of the Securities Exchange Act of 1934
(15 U.S.C. 78ee) is amended by striking ‘‘1/300 of one
percent’’ each place it appears and inserting ‘‘1/500 of one
percent’’.
SEC. 3. REVISION OF SECURITIES TRANSACTION FEE PRO-
VISIONS; ADDITIONAL FEE REDUCTIONS.
(a) POOLING AND ALLOCATION OF COLLECTIONS.—
Section 31 of the Securities Exchange Act of 1934 (15
U.S.C. 78ee) is further amended—
(1) in subsection (b)—
(A) by striking ‘‘Every’’ and inserting
‘‘Subject to subsection (i), each’’; and
(B) by striking the last sentence;
(2) by striking subsection (c);
(3) in subsection (d)—
(A) by striking paragraphs (2) and (3);
(B) by striking the following:
‘‘(d) OFF-EXCHANGE TRADES
OF LAST-SALE-RE-
PORTED SECURITIES.—
‘‘(1) COVERED TRANSACTIONS.—Each national
securities’’
and inserting the following:
‘‘(c) OFF-EXCHANGE TRADES OF EXCHANGE REG-
ISTERED AND LAST-SALE-REPORTED SECURITIES.—Sub-
ject to subsection (i), each national securities’’;
(C) by inserting ‘‘registered on a national
securities exchange or’’ after ‘‘security futures
products)’’;
(D) by striking ‘‘, excluding any sales for
which a fee is paid under subsection (c)’’;
SEC. 2. PURPOSES.
The purposes of this Act are—
(1) to implement the agreement between the
United States and Jordan establishing a free trade
area;
(2) to strengthen and develop the economic re-
lations between the United States and Jordan for
their mutual benefit; and
(3) to establish free trade between the 2 nations
through the removal of trade barriers.
SEC. 3. DEFINITIONS.
For purposes of this Act:
(1) 
AGREEMENT.—The 
term 
‘‘Agreement’’
means the Agreement between the United States of
America and the Hashemite Kingdom of Jordan on
the Establishment of a Free Trade Area, entered
into on October 24, 2000.
(2) HTS.—The term ‘‘HTS’’ means the Har-
monized Tariff Schedule of the United States.
TITLE 
I—TARIFF 
MODIFICA-
TIONS; RULES OF ORIGIN
SEC. 101. TARIFF MODIFICATIONS.
(a) TARIFF MODIFICATIONS PROVIDED FOR IN THE
AGREEMENT.—The President may proclaim—
(1) such modifications or continuation of any
duty,
priate, shall determine whether a good that is classi-
fied under one of the following headings or sub-
headings of the HTS shall be considered to meet the
requirements of paragraph (1)(A) of subsection (a):
5609, 5807, 5811, 6209.20.50.40, 6213, 6214,
6301, 6302, 6304, 6305, 6306, 6307.10, 6307.90,
6308, and 9404.90.
(B) Notwithstanding paragraph (1)(D) and ex-
cept as provided in subparagraphs (C) and (D) of
this paragraph, a textile or apparel article which is
knit-to-shape in Jordan shall be considered to meet
the requirements of paragraph (1)(A) of subsection
(a).
(C) Notwithstanding paragraph (1)(D), a good
classified under heading 6117.10, 6213.00, 6214.00.
6302.22, 6302.29, 6302.52, 6302.53, 6302.59,
6302.92, 6302.93, 6302.99, 6303.92, 6303.99,
6304.19, 
6304.93, 
6304.99, 
9404.90.85, 
or
9404.90.95 of the HTS, except for a good classified
under any such heading as of cotton or of wool or
consisting of fiber blends containing 16 percent or
more by weight of cotton, shall be considered to
meet the requirements of paragraph (1)(A) of sub-
section (a) if the fabric in the good is both dyed and
printed in Jordan, and such dyeing and printing is
‘‘(C) ADDITIONAL
COMPENSATION
AND
BENEFITS.—The Commission may provide addi-
tional compensation and benefits to employees
of the Commission if the same type of com-
pensation or benefits are then being provided by
any agency referred to under section 1206 of
the Financial Institutions Reform, Recovery,
and Enforcement Act of 1989 or, if not then
being provided, could be provided by such an
agency under applicable provisions of law, rule,
or regulation.
‘‘(2) INFORMATION; COMPARABILITY.—In es-
tablishing and adjusting schedules of compensation
and additional benefits for employees of the Com-
mission, which are to be determined solely by the
Commission 
under 
this 
subsection, 
the
Commission—
‘‘(A) shall consult with and inform the
heads of the agencies referred to under section
1206 of the Financial Institutions Reform, Re-
covery, and Enforcement Act of 1989;
‘‘(B) shall inform the Congress of such
compensation and benefits; and
‘‘(C) shall seek to maintain comparability
with such agencies regarding compensation and
benefits.’’.
(b) TECHNICAL AMENDMENTS.—
(1) Section 3132(a)(1) of title 5, United States
Code, is amended—
(A) in subparagraph (C), by striking ‘‘or’’
after the semicolon;
(B) in subparagraph (D), by inserting ‘or‘
after the semicolon; and
(C) by adding at the end of the following:
‘‘(E) the Securities and Exchange Commis-
sion.’’.
(2) Section 5373(a) of title 5, United States
Code, is amended—
(A) in paragraph (2), by striking ‘‘or’’
after the semicolon;
(B) in paragraph (3), by striking the pe-
riod and inserting ‘‘; or’’; and
(C) by adding at the end the following:
‘‘(4) section 4(b) of the Securities Exchange
Act of 1934.’’.
SEC. 5. EFFECTIVE DATES.
(a) FEE PROVISIONS.—The amendments made by
sections 2 and 3 of this Act shall take effect on October
1, 2001.
(b) PAY PARITY.—
(1) IN GENERAL.—Except as provided in para-
graph (2), the amendments made by section 4 shall
take effect on the date of enactment of this Act.
(2) EXCEPTION.—The amendments made by
section 4(b)(1) shall take effect as of such date as
the Securities and Exchange Commission shall (by
order published in the Federal Register) prescribe,
but in no event later than 1 year after the date of
enactment of this Act.
Æ
I
107TH CONGRESS
1ST SESSION
H. R. 1483
To amend the Internal Revenue Code of 1986 to make permanent the exclu-
sion for employer-provided educational assistance programs, and for other
purposes.
IN THE HOUSE OF REPRESENTATIVES
APRIL 4, 2001
Mr. LEVIN (for himself, Mr. SHAW, Mrs. JOHNSON of Connecticut, Mr. KIL-
DEE, Ms. WATERS, Mr. MCHUGH, Mr. CAMP, Ms. LEE, Mr. FROST, Mr.
UDALL of Colorado, Mr. KUCINICH, Mr. RYAN of Wisconsin, Mr. MCGOV-
ERN, Mr. BARCIA, Mr. FILNER, Mr. MORAN of Virginia, Mr. MOAKLEY,
Mr. FOLEY, Mr. DOYLE, Ms. PRYCE of Ohio, Mr. HOUGHTON, Mr.
EVANS, Mrs. THURMAN, Mr. WAXMAN, Mr. ETHERIDGE, Mr. WALSH,
Mr. SAWYER, Mr. SIMMONS, Mr. BEREUTER, Mr. JEFFERSON, Ms. KIL-
PATRICK, Mr. HORN, Ms. RIVERS, Mr. COYNE, Mr. BALDACCI, Ms.
BALDWIN, Mr. FARR of California, Mr. ENGLISH, Mr. MATSUI, Mr. DIN-
GELL, and Mr. TIERNEY) introduced the following bill; which was re-
ferred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to make
permanent the exclusion for employer-provided edu-
cational assistance programs, 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 ‘‘Employee Educational
Assistance Act’’.
SEC. 2. EMPLOYER–PROVIDED EDUCATIONAL ASSISTANCE
PROGRAMS.
(a) PERMANENT EXTENSION.—Section 127 of the
Internal Revenue Code of 1986 (relating to exclusion for
educational assistance programs) is amended by striking
subsection (d) and by redesignating subsection (e) as sub-
section (d).
(b) REPEAL OF LIMITATION ON GRADUATE EDU-
CATION.—The last sentence of section 127(c)(1) of such
Code is amended by striking ‘‘, and such term also does
not include any payment for, or the provision of any bene-
fits with respect to, any graduate level course of a kind
normally taken by an individual pursuing a program lead-
ing to a law, business, medical, or other advanced aca-
demic or professional degree’’.
(c) EFFECTIVE DATES.—
(1) EXTENSION.—The amendments made by
subsection (a) shall apply with respect to expenses
relating to courses beginning after the date of enact-
ment of this Act.
(2) GRADUATE EDUCATION.—The amendment
made by subsection (b) shall apply with respect to
expenses relating to courses beginning after Decem-
ber 31, 1998.
Æ
I
107TH CONGRESS
1ST SESSION
H. R. 1486
To amend the Internal Revenue Code of 1986 to encourage qualified conserva-
tion contributions by allowing an estate tax deduction for such contribu-
tions made by the heirs of the estate.
IN THE HOUSE OF REPRESENTATIVES
APRIL 4, 2001
Ms. LOFGREN (for herself, Mr. HONDA, and Mr. PRICE of North Carolina)
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 encourage
qualified conservation contributions by allowing an estate
tax deduction for such contributions made by the heirs
of the estate.
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled,
SECTION 1. CERTAIN GIFTS BY HEIRS OF DECEDENT AL-
LOWED AS DEDUCTION IN DETERMINING
TAXABLE ESTATE OF DECEDENT.
(a) IN GENERAL.—Section 2055 of the Internal Rev-
enue Code of 1986 (relating to transfers for public, chari-
table, and religious uses) is amended by redesignating sub-
section (g) as subsection (h) and by inserting after sub-
section (f) the following new subsection:
‘‘(g) CERTAIN GIFTS BY HEIRS OF DECEDENT AL-
LOWED AS DEDUCTION.—
‘‘(1) IN GENERAL.—In the case of real property
acquired from or passed from a decedent, if each
person in being who has an interest (whether or not
in possession) in such property files, with the return
of tax imposed by this chapter on such decedent—
‘‘(A) a signed statement indicating such
person’s intent to make (within a reasonable pe-
riod) a contribution of such property (or a re-
mainder interest therein) to a qualified organi-
zation (as defined in section 170(h)(3)) exclu-
sively for conservation purposes (as defined in
section 170(h)(4)), and
‘‘(B) an election to have this subsection
apply to such property (or interest),
such contribution shall be treated for purposes of
this title as having been made as a bequest or devise
directly from the estate of such decedent.
‘‘(2) RETURN MUST BE TIMELY FILED.—Para-
graph (1) shall not apply unless the return is filed
on or before the due date (including extensions).