,i  #aac? ,,congress  #a/ ,session  ,h4 
,r4 #bacg  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,may #bc1 #bjac ,mr4  
,pascrell 7= himself1 ,mr4 ,runyan1 ,mr4
 ,grimm1 ,mr4 ,lance1 ,mr4 ,k+ ( ,new   
,york1 ,mr4 ,re$1 ,mr4 ,frel+huys51 ,mr4
 ,lo,biondo1 ,mr4 ,smi? ( ,new ,j]sey1  
,mr4 ,rangel1 ,mr4 ,cr[ley1 ,mr4 ,l>son 
( ,connecticut1 ,mr4 ,meeks1 ,mr4       
,c\rtney1 ,ms4 ,de,lauro1 ,mr4 ,bi%op ( 
,new ,york1 ,mrs4 ,mc,carthy ( ,new     
,york1 ,mr4 ,langev91 ,mr4 ,payne1 ,mr4 
,s]rano1 ,mr4 ,pallone1 ,mr4 ,nadl]1    
,mr4 ,sires1 ,mr4 ,&rews1 ,mr4 ,engel1  
,mr4 ,cicill9e1 ,mr4 ,israel1 ,ms4 ,m5g1
 & ,mr4 ,holt7 introduc$ ! foll[+ bill2 
:i* 0 ref]r$ to ! ,committee on ,ways & 
,means  ,a ,,bill  ,to am5d ! ,int]nal  
,rev5ue ,code ( #aihf to provide tax    
relief = damages relat+ to ,hurricane   
,s&y1 & = o!r purposes4  #a4 ,%ort      
title1 etc  7a7 ,%ort title ,?is ,act   
may be cit$ z ! ,hurricane ,s&y ,tax    
,relief ,act ( #bjac4  7b7 ,am5dm5t (   
#aihf ,code ,except z o!rwise expressly 

provid$1 :5ev] 9 ?is ,act an am5dm5t or 
repeal is express$ 9 t]ms ( an am5dm5t  
to1 or repeal (1 a section or o!r       
provision1 ! ref]5ce %all be consid]$ to
 be made to a section or o!r provision (
 ! ,int]nal ,rev5ue ,code ( #aihf4  7c7 
,table ( cont5ts ,! table ( cont5ts =   
?is ,act is z foll[s3  ,sec4 #a4 ,%ort  
title1 etc4 ,sec4 #b4 ,waiv] ( adju/$   
gross income limitation = losses &      
increase 9 /&>d d$uction by disa/]      
casualty losses attributable to         
,hurricane ,s&y4 ,sec4 #c4 ,exp5s+ (    
qualifi$ disa/] exp5ses4 ,sec4 #d4 ,net 
op]at+ losses attributable to f$]ally   
decl>$ disa/]s4 ,sec4 #e4 ,waiv] ( c]ta9
 mortgage rev5ue bond requirem5ts foll[+
 f$]ally decl>$ disa/]s4 ,sec4 #f4      
,increas$ exp5s+ = ,hurricane ,s&y      
qualifi$ disa/] assi/ance prop]ty4 ,sec4
 #g4 ,increas$ limitation on *>itable   
contributions = disa/] relief4 ,sec4 #h4
 ,increase 9 new m>kets tax cr$it =     
inve/m5ts 9 community developm5t        
entities s]v+ ,hurricane ,s&y disa/]    

areas4 ,sec4 #i4 ,ext5sion ( exp5s+ =   
environm5tal rem$iation co/s4 ,sec4 #aj4
 ,special rule = public utility casualty
 losses4 ,sec4 #aa4 ,det]m9ation ( e>n$ 
income = purposes ( e>n$ income cr$it & 
*ild tax cr$it4 ,sec4 #ab4 ,"w          
,opportunity ,cr$it4 ,sec4 #ac4         
,hurricane ,s&y ,bonds4 ,sec4 #ad4      
,additional l[-income h\s+ cr$it may be 
allocat$ 9 ,/ates damag$ by ,hurricane  
,s&y4 ,sec4 #ae4 ,special rules = use ( 
retirem5t funds4  #b4 ,waiv] ( adju/$   
gross income limitation = losses &      
increase 9 /&>d d$uction by disa/]      
casualty losses attributable to         
,hurricane ,s&y  7a7 ,9 g5]al ,subclause
 7,i7 ( section #afe7;h77#c77;,b77i7 is 
am5d$ by /rik+ ,janu>y #a1 #bjaj &      
ins]t+ ,janu>y #a1 #bjaj1 or !          
,hurricane ,s&y f$]ally decl>$ disa/]4  
7b7 ,hurricane ,s&y f$]ally decl>$      
disa/] ,p>agraph 7#c7 ( section #afe7;h7
 is am5d$ by add+ at ! end ! foll[+ new 
subp>agraph3  7,d7 ,application to      
,hurricane ,s&y  7i7 ,9 g5]al ,p]sonal  

casualty losses %all be treat$ z        
describ$ 9 subp>agraph 7,b77i7 if su*   
losses--  7,i7 are attributable to !    
,hurricane ,s&y f$]ally decl>$ disa/]1 &
  7,,ii7 occur 9 ! ,hurricane ,s&y      
disa/] area4  7ii7 ,hurricane ,s&y      
f$]ally decl>$ disa/] ,= purposes (     
clause 7i71 ! t]m ,hurricane ,s&y       
f$]ally decl>$ disa/] means ! disa/]    
occurr+ by reason ( ,hurricane ,s&y &   
det]m9$ by ! ,presid5t be=e ,novemb] #d1
 #bjab1 to w>rant individual or         
individual & public assi/ance f ! ,f$]al
 ,gov]nm5t "u ! ,rob]t ,t4 ,/af=d       
,disa/] ,relief & ,em]g5cy ,assi/ance   
,act4  7iii7 ,hurricane ,s&y disa/] area
 ,! t]m ,hurricane ,s&y disa/] area     
means ! area s det]m9$ to w>rant su*    
assi/ance4  4  7c7 ,effective date ,!   
am5dm5ts made by ?is subsection %all    
apply to taxable ye>s end+ aft] ,octob] 
#bh1 #bjab4  #c4 ,exp5s+ ( qualifi$     
disa/] exp5ses  7a7 ,9 g5]al ,p>agraph  
7#b7 ( #aih;,a7b7 is am5d$--  7#a7 9    
subp>agraph 7,a7 by /rik+ ,janu>y #a1   

#bjaj & ins]t+ ,janu>y #a1 #bjaj1 or    
releas$ 9 ! ,hurricane ,s&y disa/] area 
on acc\nt ( ! ,hurricane ,s&y f$]ally   
decl>$ disa/]1 z def9$ by section       
#afe7;h77#c77;,d71  7#b7 9 subp>agraph  
7,b7 by /rik+ su* date & ins]t+ su* date
 or :i* is bus9ess-relat$ prop]ty 9 !   
,hurricane ,s&y disa/] area t is damag$ 
or de/roy$ z a result ( ! ,hurricane    
,s&y f$]ally decl>$ disa/] 7z s def9$71 
&  7#c7 9 subp>agraph 7,c7 by /rik+ su* 
date & ins]t+ su* date or :i* is        
bus9ess-relat$ prop]ty 9 ! ,hurricane   
,s&y disa/] area t is damag$ z a result 
( ! ,hurricane ,s&y f$]ally decl>$      
disa/] 7z s def9$74  7b7 ,effective date
 ,! am5dm5ts made by ?is section %all   
apply to am\nts paid or incurr$ aft]    
,octob] #bh1 #bjab4  #d4 ,net op]at+    
losses attributable to f$]ally decl>$   
disa/]s  7a7 ,9 g5]al ,subsection 7j7 ( 
section #agb is am5d$ by add+ at ! end !
 foll[+ new p>agraph3  7#e7 ,application
 to ,hurricane ,s&y  7,a7 ,9 g5]al      
,losses %all be treat$ z describ$ 9     

p>agraph 7#a77;,a77i7 if su* losses are 
attributable to ! ,hurricane ,s&y       
f$]ally decl>$ disa/] 7z def9$ 9 section
 #afe7;h77#c77;,d77 & occur 9 !         
,hurricane ,s&y disa/] area 7z s def9$74
  7,b7 ,special rule ,= purposes (      
subp>agraph 7,a71 p>agraph 7#d7 %all n  
apply4  4  7b7 ,effective date ,!       
am5dm5t made by ?is section %all apply  
to taxable ye>s end+ aft] ,octob] #bh1  
#bjab4  #e4 ,waiv] ( c]ta9 mortgage     
rev5ue bond requirem5ts foll[+ f$]ally  
decl>$ disa/]s  7a7 ,9 g5]al            
,subp>agraphs 7,a77i7 & 7,b77i7 (       
section #adc7k77#ab71 z add$ by ! ,tax  
,ext5d]s & ,alt]native ,m9imum ,tax     
,relief ,act ( #bjjh1 are ea* am5d$ by  
/rik+ ,janu>y #a1 #bjaj & ins]t+ ,janu>y
 #a1 #bjaj1 or 9 ! case ( a resid5ce    
locat$ 9 ! ,hurricane ,s&y disa/] area  
on ,octob] #bi1 #bjab1 by reason ( !    
,hurricane ,s&y f$]ally decl>$ disa/]1 z
 def9$ by section #afe7;h77#c77;,d74    
7b7 ,con=m+ am5dm5ts ,subp>agraph       
7,a77ii7 ( su* section is am5d$ by /rik+

 su* date & ins]t+ su* date or by reason
 ( ! ,hurricane ,s&y f$]ally decl>$     
disa/] 7z s def9$74  7c7 ,effective date
 ,! am5dm5ts made by ?is section %all   
apply to disa/]s occurr+ aft] ,octob]   
#bh1 #bjab4  #f4 ,increas$ exp5s+ =     
,hurricane ,s&y qualifi$ disa/]         
assi/ance prop]ty  7a7 ,9 g5]al         
,subsection 7e7 ( section #agi is am5d$ 
to read z foll[s3  7e7 ,special rules = 
,hurricane ,s&y  7#a7 ,9 g5]al ,if a    
taxpay] elects ! application ( ?is      
subsection = a taxable ye> & places 9   
s]vice dur+ ! taxable ye> any ,hurricane
 ,s&y qualifi$ disa/] assi/ance         
prop]ty--  7,a7 ! doll> am\nt 9 effect  
"u subsection 7b77#a7 = ! taxable ye>   
%all be increas$ by ! qualifi$ disa/]   
limitation am\nt1 &  7,b7 ! doll> am\nt 
9 effect "u subsection 7b77#b7 = !      
taxable ye> %all be increas$ by !       
qualifi$ disa/] limitation r$uction     
am\nt4  7#b7 ,qualifi$ disa/] limitation
 am\nt ,= purposes ( p>agraph 7#a71 !   
t]m qualifi$ disa/] limitation am\nt    

means ! less] (--  7,a7 #ejj1jjj1 or    
7,b7 ! co/ ( ,hurricane ,s&y qualifi$   
disa/] assi/ance prop]ty plac$ 9 s]vice 
dur+ ! taxable ye>4  7#c7 ,qualifi$     
disa/] limitation r$uction am\nt ,=     
purposes ( p>agraph 7#a71 ! t]m qualifi$
 disa/] limitation am\nt means ! less]  
(--  7,a7 #b1jjj1jjj1 or  7,b7 ! co/ (  
,hurricane ,s&y qualifi$ disa/]         
assi/ance prop]ty plac$ 9 s]vice dur+ ! 
taxable ye>4  7#d7 ,hurricane ,s&y      
qualifi$ disa/] assi/ance prop]ty ,=    
purposes ( ?is subsection--  7,a7 ,9    
g5]al ,! t]m ,hurricane ,s&y qualifi$   
disa/] assi/ance prop]ty means section  
#agi prop]ty 7z def9$ 9 subsection 7d77 
& qualifi$ prop]ty--  7i7 ! orig9al use 
( :i* 9 ! ,hurricane ,s&y disa/] area   
comm5ces ) ! taxpay] on or aft] ,octob] 
#bi1 #bjab1  7ii7 sub/antially all ( !  
use ( :i* is 9 ! ,hurricane ,s&y disa/] 
area1 &  7iii7 :i*--  7,i7 rehabilitates
 prop]ty damag$1 or replaces prop]ty    
de/roy$ or condemn$1 z a result ( !     
,hurricane ,s&y f$]ally decl>$ disa/]1  

except t1 = purposes ( ?is clause1      
prop]ty %all be treat$ z replac+ prop]ty
 de/roy$ or condemn$ if1 z "p ( an      
integrat$ plan1 su* prop]ty replaces    
prop]ty :i* is includ$ 9 a cont9u\s area
 :i* includes real prop]ty de/roy$ or   
condemn$1 &  7,,ii7 is locat$ 9 ! same  
c\nty z ! prop]ty be+ rehabilitat$ or   
replac$1  7iv7 :i* is plac$ 9 s]vice or 
acquir$ by ! taxpay] by pur*ase 7z def9$
 9 subsection 7d77 on or aft] ,octob]   
#bi1 #bjab1 b only if no writt5 b9d+    
contract = ! acquisition 0 9 effect be=e
 su* date1 &  7v7 :i* is plac$ 9 s]vice 
by ! taxpay] on or aft] ,octob] #bi1    
#bjab1 & be=e ,decemb] #ca1 #bjae       
7,decemb] #ca1 #bjaf1 9 ! case (        
nonresid5tial real prop]ty & resid5tial 
r5tal prop]ty74  7,b7 ,qualifi$ prop]ty 
,! t]m qualifi$ prop]ty means prop]ty   
:i* is--  7i7 tangible prop]ty to :i*   
section #afh applies & :i* has a recov]y
 p]iod ( #ci ye>s or less1 or  7ii7     
comput] s(tw>e 7z def9$ 9 section       
#afg7;f77#a77;,b77 = :i* a d$uction is  

all[able "u section #afg7;a74  7,c7     
,exceptions  7i7 ,alt]native            
depreciation prop]ty ,su* t]m %all n    
include any prop]ty to :i* ! alt]native 
depreciation sy/em "u section #afh7;g7  
applies1 det]m9$ )\t reg>d to p>agraph  
7#g7 !re( 7relat+ to election to h sy/em
 apply74  7ii7 ,tax-exempt bond f9anc$  
prop]ty ,su* t]m %all n include any     
prop]ty any portion ( :i* is f9anc$ ) ! 
proce$s ( any obligation ! int]e/ on :i*
 is exempt f tax "u section #ajc4  7,d7 
,election ,an election "u ?is subsection
 = any taxable ye> %all--  7i7 specify !
 items ( ,hurricane ,s&y qualifi$ disa/]
 assi/ance prop]ty to :i* ! election    
applies & ! portion ( ! co/ ( ea* ( su* 
items :i* is to be tak5 into acc\nt "u  
p>agraph 7#a71 &  7ii7 be made on !     
taxpay]'s return ( ! tax impos$ by ?is  
*apt] = ! taxable ye>4  7,e7 ,special   
rules ,= purposes ( ?is subsection1     
rules simil> to ! rules ( subp>agraph   
7,e7 ( section #afh7k77#b7 %all apply1  
except t su* subp>agraph %all be        

appli$--  7i7 by sub/itut+ ! date ( !   
,hurricane ,s&y f$]ally decl>$ disa/] = 
,decemb] #ca1 #bjjg ea* place x appe>s  
!re91  7ii7 by sub/itut+ ,janu>y #a1    
#bjaf = ,janu>y #a1 #bjad 9 clause 7i7  
!re(1 &  7iii7 by sub/itut+ ,hurricane  
,s&y qualifi$ section #agi disa/]       
assi/ance prop]ty = qualifi$ prop]ty 9  
clause 7iv7 !re(4  7#e7 ,t]ms relat+ to 
,hurricane ,s&y ,= purposes ( ?is       
subsection1 ! t]ms ,hurricane ,s&y      
f$]ally decl>$ disa/] & ,hurricane ,s&y 
disa/] area h ! mean+s giv5 su* t]ms by 
section #afe7;h77#c77;,d74  7#f7        
,recapture ,= purposes ( ?is subsection1
 rules simil> to ! rules "u subsection  
7d77#aj7 %all apply ) respect to any    
qualifi$ section #agi disa/] assi/ance  
prop]ty :i* ceases to be qualifi$       
section #agi disa/] assi/ance prop]ty4  
4  7b7 ,effective date ,! am5dm5ts made 
by ?is section %all apply to taxable    
ye>s end+ aft] ,octob] #bh1 #bjab4  #g4 
,increas$ limitation on *>itable        
contributions = disa/] relief  7a7      

,individuals ,p>agraph 7#a7 ( section   
#agj7;b7 is am5d$ by r$esignat+         
subp>agraphs 7,f7 & 7,g7 z subp>agraphs 
7,g7 & 7,h71 respectively1 & by ins]t+  
aft] subp>agraph 7,e7 ! foll[+ new      
subp>agraph3  7,f7 ,qualifi$ ,hurricane 
,s&y disa/] contributions  7i7 ,9 g5]al 
,any qualifi$ ,hurricane ,s&y disa/]    
contribution %all be all[$ to ! ext5t t 
! aggregate ( su* contributions does n  
exce$ ! excess ( #hj p]c5t ( ! taxpay]'s
 contribution base ov] ! am\nt ( all o!r
 *>itable contributions all[able "u ?is 
p>agraph4  7ii7 ,qualifi$ ,hurricane    
,s&y disa/] contribution ,= purposes (  
?is subp>agraph1 ! t]m qualifi$         
,hurricane ,s&y disa/] contribution     
means any *>itable contribution if--    
7,i7 su* contribution--  7aa7 is paid   
dur+ ! p]iod beg9n+ on ,octob] #bi1     
#bjab1 & end+ on ,decemb] #ca1 #bjac1 9 
ca% to an organization describ$ 9       
subp>agraph 7,a71 &  7bb7 is made =     
relief ef=ts 9 ! ,hurricane ,s&y disa/] 
area relat$ to ! ,hurricane ,s&y f$]ally

 decl>$ disa/]1  7,,ii7 ! taxpay] obta9s
 f su* organization contemporane\s      
writt5 ackn[l$gm5t 7)9 ! mean+ (        
subsection 7f77#h77 t su* contribution 0
 us$ 7or is to be us$7 = relief ef=ts 9 
! ,hurricane ,s&y disa/] area relat$ to 
! ,hurricane ,s&y f$]ally decl>$ disa/]1
 &  7,,iii7 ! taxpay] has elect$ !      
application ( ?is subp>agraph ) respect 
to su* contribution4  7iii7 ,exception  
,a qualifi$ ,hurricane ,s&y disa/]      
contribution %all n include a           
contribution by a donor if !            
contribution is--  7,i7 to an           
organization describ$ 9 section         
#eji7;a77#c71 or  7,,ii7 = e/abli%m5t ( 
a new1 or ma9t5ance ( an exi/+1 donor   
advis$ fund 7z def9$ 9 section          
#diff7;d77#b774  7iv7 ,c>ryov]  7,i7 ,9 
g5]al ,if ! aggregate am\nt (           
contributions describ$ 9 clause 7i7     
exce$s ! limitation "u clause 7i71 su*  
excess %all be treat$ 79 a mann]        
consi/5t ) ! rules ( subsection 7d77#a77
 z a *>itable contribution to :i* clause

 7i7 applies 9 ea* ( ! #e succe$+ ye>s 9
 ord] ( "t4  7,,ii7 ,coord9ation ) o!r  
subp>agraphs ,= purposes ( apply+ ?is   
subp>agraph & subsection 7d77#a71       
contributions describ$ 9 clause 7i7 %all
 n be treat$ z describ$ 9 subp>agraph   
7,a7 & su* subp>agraph %all be appli$   
)\t reg>d to su* contributions4  7v7    
,application ( election to p>tn]%ips &  
,s corporations ,9 ! case ( a p>tn]%ip  
or ,s corporation1 ! election "u        
subp>agraph 7,f77ii77,,iii7 %all be made
 sep>ately by ea* p>tn] or %>ehold]4    
7vi7 ,hurricane ,s&y f$]ally decl>$     
disa/] & disa/] area ,= purposes ( ?is  
subp>agraph1 ! t]ms ,hurricane ,s&y     
f$]ally decl>$ disa/] & ,hurricane ,s&y 
disa/] area h ! mean+s giv5 su* t]ms by 
section #afe7;h77#c77;,d74  4  7b7      
,corporations  7#a7 ,9 g5]al ,p>agraph  
7#b7 ( section #agj7;b7 is am5d$ by     
r$esignat+ subp>agraph 7,c7 z           
subp>agraph 7,d7 & by ins]t+ aft]       
subp>agraph 7,b7 ! foll[+ new           
subp>agraph3  7,c7 ,qualifi$ disa/]     

contributions  7i7 ,9 g5]al ,any        
qualifi$ ,hurricane ,s&y disa/]         
contribution %all be all[$ to ! ext5t t 
! aggregate ( su* contributions does n  
exce$ ! excess ( #bj p]c5t ( ! taxpay]'s
 taxable income ov] ! am\nt ( *>itable  
contributions all[$ "u subp>agraph 7,a74
  7ii7 ,c>ryov] ,if ! aggregate am\nt ( 
contributions describ$ 9 clause 7i7     
exce$s ! limitation "u clause 7i71 su*  
excess %all be treat$ 79 a mann]        
consi/5t ) ! rules ( subsection 7d77#a77
 z a *>itable contribution to :i* clause
 7i7 applies 9 ea* ( ! #e succe$+ ye>s 9
 ord] ( "t4  7iii7 ,qualifi$ disa/]     
contribution ,! t]m qualifi$ ,hurricane 
,s&y disa/] contribution has ! mean+    
giv5 su* t]m "u p>agraph 7#a77;,f74  4  
7#b7 ,con=m+ am5dm5ts  7,a7 ,subp>agraph
 7,a7 ( section #agj7;b77#b7 is am5d$ by
 /rik+ subp>agraph 7,b7 applies & ins]t+
 subp>agraphs 7,b7 & 7,c7 apply4  7,b7  
,subp>agraph 7,b7 ( section #agj7;b77#b7
 is am5d$ by /rik+ subp>agraph 7,a7 &   
ins]t+ subp>agraphs 7,a7 & 7,c74  7c7   

,effective date ,! am5dm5ts made by ?is 
section %all apply to taxable ye>s end+ 
aft] ! date ( ! enactm5t ( ?is ,act4    
#h4 ,increase 9 new m>kets tax cr$it =  
inve/m5ts 9 community developm5t        
entities s]v+ ,hurricane ,s&y disa/]    
areas  7a7 ,9 g5]al ,p>agraph 7#a7 (    
section #de;,d7f7 is am5d$ by /rik+ !   
p]iod at ! end ( subp>agraph 7,g7 &     
ins]t+ 1 & & by add+ at ! end ! foll[+3 
7,h7 9 ! case ( ! ,hurricane ,s&y ,f$]al
 disa/] area1 #bej1jjj1jjj4  4  7b7     
,rules relat+ to ,hurricane ,s&y        
,subsection 7f7 ( section #de;,d is     
am5d$ by add+ at ! end ! foll[+ new     
p>agraph3  7#d7 ,increas$ special       
allocation = community developm5t       
entities s]v+ ,hurricane ,s&y ,f$]al    
disa/] areas  7,a7 ,9 g5]al ,!          
limitation "u p>agraph 7#a77;,h7 %all be
 allocat$ among qualifi$ community      
developm5t entities to make qualifi$    
l[-income community inve/m5ts )9 !      
,hurricane ,s&y disa/] area 7z def9$ 9  
section #afe7;h77#c77;,d774  7,b7       

,allocation ( increase ,! limitation "u 
subp>agraph 7,a7 %all be allocat$ by !  
,secret>y "u p>agraph 7#b7 to qualifi$  
community developm5t entities & %all    
give priority to su* entities ) a record
 ( hav+ successfully provid$ capital or 
te*nical assi/ance to bus9esses or      
communities )9 ! ,hurricane ,s&y disa/] 
area4  7,c7 ,sep>ate c>ryov] ( unus$    
limitation ,p>agraph 7#c7 %all be appli$
 sep>ately ) respect to ! limitation "u 
p>agraph 7#a77;,h74  4  7c7 ,effective  
date ,! am5dm5ts made by ?is section    
%all apply to cal5d> ye>s beg9n+ aft]   
#bjaa4  #i4 ,ext5sion ( exp5s+ =        
environm5tal rem$iation co/s  7a7 ,9    
g5]al ,section #aih is am5d$ by add+ at 
! end ! foll[+3  7i7 ,ext5sion relat+ to
 ,hurricane ,s&y ,subsection 7h7 %all n 
apply 9 ! case ( any qualifi$           
environm5tal rem$iation exp5diture paid 
or incurr$ aft] ! date ( ! ,hurricane   
,s&y f$]ally decl>$ disa/] 7z def9$ 9   
section #afe7;h77#c77;,d77 & be=e       
,janu>y #a1 #bjae1 by reason ( su*      

disa/] at a qualifi$ contam9at$ site    
locat$ 9 ! ,hurricane ,s&y disa/] area  
7z s def9$74  4  7b7 ,effective date ,! 
am5dm5t made by subsection 7a7 %all     
apply to exp5ditures paid or incurr$    
aft] ,octob] #bh1 #bjab4  #aj4 ,special 
rule = public utility casualty losses   
7a7 ,9 g5]al ,subsection 7f7 ( section  
#agb is am5d$ by add+ at ! end ! foll[+3
  7#g7 ,hurricane ,s&y public utility   
casualty losses  7,a7 ,9 g5]al ,! am\nt 
describ$ 9 p>agraph 7#a77;,a7 = any     
taxable ye> %all be increas$ by !       
,hurricane ,s&y public utility casualty 
loss = su* taxable ye>4  7,b7 ,hurricane
 ,s&y public utility casualty loss ,=   
purposes ( ?is p>agraph1 ! t]m          
,hurricane ,s&y public utility casualty 
loss means any casualty loss ( public   
utility prop]ty 7z def9$ 9 section      
#afh7;i77#aj77 locat$ 9 ! ,hurricane    
,s&y disa/] area if--  7i7 su* loss is  
all[$ z a d$uction "u section #afe = !  
taxable ye>1  7ii7 su* loss is by reason
 ( ,hurricane ,s&y1 &  7iii7 ! taxpay]  

elects ! application ( ?is p>agraph )   
respect to su* loss4  7,c7 ,r$uction =  
ga9s f involunt>y conv]sion ,! am\nt (  
any ,hurricane ,s&y public utility      
casualty loss :i* w\ld 7b = ?is         
subp>agraph7 be tak5 into acc\nt "u     
subp>agraph 7,a7 = any taxable ye> %all 
be r$uc$ by ! am\nt ( any ga9 recogniz$ 
by ! taxpay] = su* ye> f ! involunt>y   
conv]sion by reason ( ,hurricane ,s&y ( 
public utility prop]ty 7z s def9$7      
locat$ 9 ! ,hurricane ,s&y disa/] area4 
7,d7 ,hurricane ,s&y disa/] area ,=     
purposes ( ?is p>agraph1 ! t]m          
,hurricane ,s&y disa/] area has ! mean+ 
giv5 su* t]m by section                 
#afe7;h77#c77;,d74  7,e7 ,coord9ation ) 
g5]al disa/] loss rules ,section #afh7k7
 & section #afe7;i7 %all n apply to any 
,hurricane ,s&y public utility casualty 
loss to ! ext5t su* loss is tak5 into   
acc\nt "u subp>agraph 7,a74  7,f7       
,election ,any election "u subp>agraph  
7,b77iii7 %all be made 9 su* mann] z may
 be prescrib$ by ! ,secret>y & %all be  

made by ! due date 7includ+ ext5sions ( 
"t7 = fil+ ! taxpay]'s return = !       
taxable ye> ( ! loss4 ,su* election1    
once made = any taxable ye>1 %all be    
irrevocable = su* taxable ye>4  4  7b7  
,effective date ,! am5dm5t made by      
subsection 7a7 %all apply to losses     
aris+ 9 taxable ye>s end+ aft] ,octob]  
#bh1 #bjab4  #aa4 ,det]m9ation ( e>n$   
income = purposes ( e>n$ income cr$it & 
*ild tax cr$it  7a7 ,e>n$ income cr$it  
,section #cb is am5d$ by add+ at ! end !
 foll[+ new subsection3  7n7 ,special   
rule relat+ to ,hurricane ,s&y ,=       
purposes ( ?is section & section        
#bd7;d7--  7#a7 ,9 g5]al ,9 ! case ( a  
qualifi$ individual1 if ! e>n$ income ( 
! taxpay] = ! taxable ye> :i* includes !
 applicable date is less ?an ! e>n$     
income ( ! taxpay] = ! prec$+ taxable   
ye>1 ! cr$it all[$ "u subsection 7a7    
may1 at ! election ( ! taxpay]1 be      
det]m9$ by sub/itut+--  7,a7 su* e>n$   
income = ! prec$+ taxable ye>1 =  7,b7  
su* e>n$ income = ! taxable ye> :i*     

includes ! applicable date4  7#b7       
,qualifi$ individual ,= purposes ( ?is  
subsection1 ! t]m qualifi$ individual   
means any individual--  7,a7 ^: pr9cipal
 place ( abode on ! applicable date 0   
locat$ 9 ! ,hurricane ,s&y disa/] area &
 su* individual 0 displac$ f su*        
pr9cipal place ( abode by reason ( !    
,hurricane ,s&y f$]ally decl>$ disa/]1  
or  7,b7 :o p]=m$ sub/antially all      
employm5t s]vices 9 ! disa/] area & 0 s 
employ$ on ! applicable date4  7#c7 ,o!r
 def9itions ,= purposes ( ?is           
subsection--  7,a7 ,applicable date ,!  
t]m applicable date means any day on or 
aft] ,octob] #bi1 #bjab1 & on or be=e   
,novemb] #c1 #bjab4  7,b7 ,hurricane    
,s&y f$]ally decl>$ disa/] & disa/] area
 ,! t]ms ,hurricane ,s&y f$]ally decl>$ 
disa/] & ,hurricane ,s&y disa/] area h !
 mean+s giv5 su* t]ms by section        
#afe7;h77#c77;,d74  7#d7 ,special rules 
7,a7 ,application to jo9t returns ,=    
purposes ( p>agraph 7#a71 9 ! case ( a  
jo9t return = a taxable ye> :i* includes

 ! applicable date--  7i7 su* p>agraph  
%all apply if ei!r sp\se is a qualifi$  
individual1 &  7ii7 ! e>n$ income ( !   
taxpay] = ! prec$+ taxable ye> %all be !
 sum ( ! e>n$ income ( ea* sp\se = su*  
prec$+ taxable ye>4  7,b7 ,uni=m        
application ( election ,any election    
made "u p>agraph 7#a7 %all apply )      
respect to bo? ?is section & section    
#bd7;d74  7,c7 ,errors treat$ z         
ma!matical error ,= purposes ( section  
#fbac1 an incorrect use on a return (   
e>n$ income pursuant to p>agraph 7#a7   
%all be treat$ z a ma!matical or cl]ical
 error4  7,d7 ,no effect on det]m9ation 
( gross income1 etc ,except z o!rwise   
provid$ 9 ?is subsection1 ?is title %all
 be appli$ )\t reg>d to any sub/itution 
"u p>agraph 7#a74  4  7b7 ,*ild tax     
cr$it ,subsection 7d7 ( section #bd is  
am5d$ by add+ at ! end ! foll[+ new     
p>agraph3  7#e7 ,special rule relat+ to 
,hurricane ,s&y ,see section #cb7n7 =   
det]m9ation ( e>n$ income ) respect to !
 ,hurricane ,s&y f$]ally decl>$ disa/]4 

4  7c7 ,effective date ,! am5dm5ts made 
by ?is section %all apply to taxable    
ye>s end+ aft] ,octob] #bh1 #bjab4  #ab4
 ,"w ,opportunity ,cr$it  7a7 ,9 g5]al  
,p>agraph 7#a7 ( section #ea7;d7 is     
am5d$ by /rik+ or at ! end ( subp>agraph
 7,h71 by /rik+ ! p]iod at ! end (      
subp>agraph 7,i7 & ins]t+ 1 or1 & by    
ins]t+ aft] subp>agraph 7,i7 ! foll[+   
new subp>agraph3  7,j7 a ,hurricane ,s&y
 employee4  4  7b7 ,hurricane ,s&y      
employee ,subsection 7d7 ( section #ea  
is am5d$ by add+ at ! end ! foll[+3     
7#ae7 ,hurricane ,s&y employee  7,a7 ,9 
g5]al ,! t]m ,hurricane ,s&y employee   
means any individual--  7i7 :o1 on or   
aft] ,octob] #bi1 #bjab1 & on or be=e   
,novemb] #c1 #bjab1 _h a pr9cipal place 
( abode 9 ! ,hurricane ,s&y disa/] area1
  7ii7 :o did n apply = or receive      
unemploym5t comp5sation "u ,/ate or     
,f$]al law 9 #bjab be=e ,octob] #bi1    
#bjab1 b fir/ appli$ = or receiv$ su*   
comp5sation aft] su* date & be=e        
,febru>y #ae1 #bjac1  7iii7 :o receives 

su* comp5sation )\t a break until !     
e>li] ( exhau/+ su* comp5sation "u      
,f$]al or ,/ate law or ! hir+ date1 &   
7iv7 ^: hir+ date = a position !        
pr9cipal place ( employm5t ( :i* is     
locat$ 9 ! ,hurricane ,s&y disa/] area  
7z def9$ 9 section #afe7;h77#c77;,d77 is
 be=e ,janu>y #a1 #bjad4  7,b7          
,reasonable id5tification acceptable ,9 
lieu ( ! c]tification requirem5t "u     
subp>agraph 7,a7 ( p>agraph 7#ac71 an   
individual may provide to ! employ]     
reasonable evid5ce t ! individual is a  
,hurricane ,s&y employee1 & subp>agraph 
7,b7 ( su* p>agraph %all be appli$ z if 
su* evid5ce 7 a c]tification describ$ 9 
su* subp>agraph4  7,c7 ,special rules ,=
 purposes ( ?is p>agraph--  7i7         
subsection 7c77#d7 %all n apply1 &  7ii7
 subsection 7i77#b7 %all n apply )      
respect to ! fir/ hire ( su* employee z 
a ,hurricane ,s&y employee1 unless su*  
employee 0 an employee ( ! employ] on   
,octob] #bh1 #bjab4  4  7c7 ,effective  
date ,! am5dm5ts made by ?is section    

%all apply to taxable ye>s end+ aft]    
,octob] #bh1 #bjab4  #ac4 ,hurricane    
,s&y ,bonds  7a7 ,9 g5]al ,subp>t ,a (  
"p ,,iv ( sub*apt] ,b ( *apt] #a is     
am5d$ by ins]t+ aft] section #adf !     
foll[+ new section3  #adf;,a4 ,hurricane
 ,s&y ,bonds  7a7 ,9 g5]al ,= purposes (
 ?is title1 any qualifi$ ,hurricane ,s&y
 ,bond %all--  7#a7 be treat$ z an      
exempt facility bond1 &  7#b7 n be      
subject to section #adf4  7b7 ,qualifi$ 
,hurricane ,s&y ,bond ,= purposes ( ?is 
section1 ! t]m qualifi$ ,hurricane ,s&y 
bond means any bond issu$ z "p ( an     
issue if--  7#a7 #ie p]c5t or m ( ! net 
proce$s ( su* issue are to be us$ =     
qualifi$ project co/s1  7#b7 su* bond is
 issu$ by a ,/ate or any political      
subdivision !re( any "p ( :i* is 9 !    
,hurricane ,s&y disa/] area1  7#c7 !    
,gov]nor ( ! issu+ ,/ate designates su* 
bond = purposes ( ?is section1 &  7#d7  
su* bond is issu$ aft] ! date ( !       
enactm5t ( ?is section & be=e ,janu>y   
#a1 #bjaf4  7c7 ,limitation on am\nt (  

bonds  7#a7 ,9 g5]al ,! maximum         
aggregate face am\nt ( bonds :i* may be 
designat$ "u ?is section %all n exce$-- 
7,a7 #c1bjj1jjj1jjj 9 ! case (          
,connecticut1  7,b7 #i1bjj1jjj1jjj 9 !  
case ( ,new ,j]sey1 &  7,c7             
#i1bjj1jjj1jjj 9 ! case ( ,new ,york4   
7#b7 ,r$uction = failure to issue bonds 
7,a7 #bjac ,if aft] ! date ( enactm5t ( 
?is section & be=e ,janu>y #a1 #bjad1   
less ?an #aj p]c5t ( ! face am\nt ( !   
bond limitation = a ,/ate has be5 issu$1
 ! au?oriz$ limitation = su* ,/ate "u   
p>agraph 7#a7 %all be r$uc$ by ! am\nt  
by :i* #aj p]c5t ( ! face am\nt ( ! bond
 limitation = su* ,/ate exce$s ! face   
am\nt ( issu$ bonds4  7,b7 #bjad ,if    
aft] ! date ( enactm5t ( ?is section &  
be=e ,janu>y #a1 #bjae1 less ?an #cj    
p]c5t ( ! face am\nt ( ! bond limitation
 = a ,/ate has be5 issu$1 ! au?oriz$    
limitation = su* ,/ate %all be r$uc$ by 
! am\nt by :i* #aj p]c5t ( ! face am\nt 
( ! bond limitation = su* ,/ate exce$s !
 face am\nt ( issu$ bonds4  7#c7        

,movable prop]ty ,no bonds %all be issu$
 :i* are to be us$ = movable fixtures & 
equipm5t4  7#d7 ,treatm5t ( curr5t      
refund+ bonds ,p>agraph 7#a7 %all n     
apply to any bond 7or s]ies ( bonds7    
issu$ to refund a qualifi$ ,hurricane   
,s&y bond1 if--  7,a7 ! av]age maturity 
date ( ! issue ( :i* ! refund+ bond is a
 "p is n lat] ?an ! av]age maturity date
 ( ! bonds to be refund$ by su* issue1  
7,b7 ! am\nt ( ! refund+ bond does n    
exce$ ! out/&+ am\nt ( ! refund$ bond1 &
  7,c7 ! net proce$s ( ! refund+ bond   
are us$ to r$eem ! refund$ bond n lat]  
?an #ij days aft] ! date ( ! issuance ( 
! refund+ bond4  ,= purposes (          
subp>agraph 7,a71 av]age maturity %all  
be det]m9$ 9 accordance ) section       
#adg7;b77#b77;,a74  7d7 ,qualifi$       
project co/s ,= purposes ( ?is section1 
! t]m qualifi$ project co/s means ! co/ 
( acquisition1 con/ruction1             
recon/ruction1 & r5ovation (--  7#a7    
resid5tial r5tal prop]ty 7z def9$ 9     
section #adb7;d771  7#b7 nonresid5tial  

real prop]ty 7includ+ fix$ improvem5ts  
associat$ ) su* prop]ty71  7#c7 a       
facility describ$ 9 p>agraph 7#b7 or    
7#c7 ( section #adb7;a71 or  7#d7 public
 utility prop]ty 7z def9$ 9 section     
#afh7;i77#aj771  :i* is locat$ 9 !      
,hurricane ,s&y ,disa/] area & 0 damag$ 
or de/roy$ by reason ( ! ,hurricane ,s&y
 f$]ally decl>$ disa/]4  7e7 ,special   
rules ,9 apply+ ?is title to any        
qualifi$ ,hurricane ,s&y ,bond1 ! foll[+
 modifications %all apply3  7#a7        
,section #adg7;d7 7relat+ to acquisition
 ( exi/+ prop]ty n p]mitt$7 %all be     
appli$ by sub/itut+ #ej p]c5t = #ae     
p]c5t ea* place x appe>s4  7#b7 ,section
 #adh7;f77#d77;,c7 7relat+ to exception 
f rebate = c]ta9 proce$s to be us$ to   
f9ance con/ruction exp5ditures7 %all    
apply to ! available con/ruction proce$s
 ( bonds issu$ "u ?is section4 ,=       
purposes ( ! prec$+ s5t5ce1 ! foll[+    
sp5d+ requirem5ts %all apply 9 lieu ( ! 
requirem5ts 9 clause 7ii7 ( su* section3
  7,a7 #dj p]c5t ( su* available        

con/ruction proce$s are sp5t = !        
gov]nm5tal purposes ( ! issue )9 !      
#b-ye> p]iod beg9n+ on ! date ! bonds   
are issu$1  7,b7 #fj p]c5t ( su* proce$s
 are sp5t = su* purposes )9 ! #c-ye>    
p]iod beg9n+ on su* date1  7,c7 #hj     
p]c5t ( su* proce$s are sp5t = su*      
purposes )9 ! #d-ye> p]iod beg9n+ on su*
 date1 &  7,d7 #ajj p]c5t ( su* proce$s 
are sp5t = su* purposes )9 ! #e-ye>     
p]iod beg9n+ on su* date4  7#c7         
,repaym5ts ( pr9cipal on f9anc+ provid$ 
by ! issue--  7,a7 may n be us$ to      
provide f9anc+1 &  7,b7 mu/ be us$ n    
lat] ?an ! close ( ! #a/ semiannual     
p]iod beg9n+ aft] ! date ( ! repaym5t to
 r$eem bonds :i* are "p ( su* issue4  ,!
 requirem5t ( subp>agraph 7,b7 %all be  
treat$ z met ) respect to am\nts receiv$
 )9 #e ye>s aft] ! date ( issuance ( !  
issue 7or1 9 ! case ( a refund+ bond1 ! 
date ( issuance ( ! orig9al bond7 if su*
 am\nts are us$ by ! close ( su* #e ye>s
 to r$eem bonds :i* are "p ( su* issue4 
7#d7 ,section #eg7;a77#e7 %all n apply4 

7f7 ,sep>ate issue treatm5t ( portions (
 an issue ,?is section %all n apply to !
 portion ( an issue :i* 7if issu$ z a   
sep>ate issue7 w\ld be treat$ z a       
qualifi$ bond or z a bond t is n a      
private activity bond 7det]m9$ )\t reg>d
 to p>agraph 7#a771 if ! issu] elects to
 s treat su* portion4  7g7 ,hurricane   
,s&y f$]ally decl>$ disa/] & disa/] area
 ,! t]ms ,hurricane ,s&y f$]ally decl>$ 
disa/] & ,hurricane ,s&y disa/] area h !
 mean+s giv5 su* t]ms by section        
#afe7;h77#c77;,d74  4  7b7 ,cl]ical     
am5dm5t ,! table ( sections = subp>t ,a 
( "p ,,iv ( sub*apt] ,b ( *apt] #a is   
am5d$ by ins]t+ aft] ! item relat+ to   
section #adf ! foll[+ new item3  ,sec4  
#adf;,a4 ,hurricane ,s&y ,bonds4  4  7c7
 ,effective date ,! am5dm5ts made by ?is
 section %all apply to obligations issu$
 aft] ! date ( ! enactm5t ( ?is ,act4   
#ad4 ,additional l[-income h\s+ cr$it   
may be allocat$ 9 ,/ates damag$ by      
,hurricane ,s&y  7a7 ,9 g5]al ,p>agraph 
7#c7 ( section #db7;h7 7relat+ to       

limitation on aggregate cr$it all[able )
 respect to projects locat$ 9 a ,/ate7  
is am5d$ by add+ at ! end ! foll[+ new  
subp>agraph3  7,j7 ,increase 9 ,/ate    
h\s+ cr$it = ,/ates damag$ by ,hurricane
 ,s&y  7i7 ,9 g5]al ,9 ! case ( cal5d>  
ye> #bjac1 ! ,/ate h\s+ cr$it ceil+ (   
ea* ,/ate any portion ( :i* includes any
 portion ( ! ,hurricane ,s&y disa/] area
 %all be increas$ by s mu* ( ! aggregate
 h\s+ cr$it doll> am\nt z does n exce$ !
 applicable limitation allocat$ by !    
,/ate h\s+ cr$it ag5cy ( su* ,/ate = su*
 cal5d> ye> to build+s locat$ 9 su*     
disa/] area4  7ii7 ,applicable          
limitation ,= purposes ( clause 7i71 !  
applicable limitation is ! great] (--   
7,i7 #h multipli$ by ! population ( !   
area describ$ 9 clause 7vii77,i71 or    
7,,ii7 #ej p]c5t ( ! ,/ate h\s+ cr$it   
ceil+ 7det]m9$ )\t reg>d to ?is         
subp>agraph7 = #bjac4  7iii7 ,applicable
 p]c5tage ,= purposes ( ?is section1 !  
applicable p]c5tage ) respect to any    
build+ to :i* am\nts allocat$ "u clause 

7i7 %all be det]m9$ "u subsection       
7b77#b71 except t subp>agraph 7,a7 !re( 
%all be appli$ by sub/itut+ ,decemb]    
#ca1 #bjae = ,decemb] #ca1 #bjac4  7iv7 
,allocations treat$ z made fir/ f       
additional allocation am\nt = purposes (
 det]m9+ c>ryov] ,= purposes ( det]m9+ !
 unus$ ,/ate h\s+ cr$it ceil+ "u        
subp>agraph 7,c7 = any cal5d> ye>1 any  
increase 9 ! ,/ate h\s+ cr$it ceil+ "u  
clause 7i7 %all be treat$ z an am\nt    
describ$ 9 clause 7ii7 ( su*            
subp>agraph4  7v7 ,difficult developm5t 
area  7,i7 ,9 g5]al ,9 ! case ( prop]ty 
plac$ 9 s]vice dur+ #bjac1 #bjad1 or    
#bjae1 ! ,hurricane ,s&y disa/] area    
%all be treat$ z a difficult developm5t 
area designat$ "u subclause 7,i7 (      
subsection 7d77#e77;,b77iii71 & %all n  
be tak5 into acc\nt = purposes ( apply+ 
! limitation "u subclause 7,,ii7 ( su*  
subsection4  7,,ii7 ,application (      
clause ,subclause 7,i7 %all apply only  
to--  7aa7 h\s+ cr$it doll> am\nts      
allocat$ dur+ #bjac1 &  7bb7 to ! ext5t 

t p>agraph 7#a7 does n apply to any     
build+ by reason ( p>agraph 7#d71 only )
 respect to bonds issu$ aft] ,decemb]   
#ca1 #bjab4  7vi7 ,hurricane ,s&y disa/]
 area & ,hurricane ,s&y f$]ally decl>$  
disa/] ,= purposes ( ?is subp>agraph--  
7,i7 ,disa/] area ,! t]m ,hurricane ,s&y
 disa/] area means ea* c\nty includ$ 9 !
 geographical area cov]$ by ! ,hurricane
 ,s&y f$]ally decl>$ disa/]4  7,,ii7    
,hurricane ,s&y f$]ally decl>$ disa/] & 
disa/] area ,! t]m ,hurricane ,s&y      
f$]ally decl>$ disa/] has ! mean+ giv5  
su* t]m by section #afe7;h77#c77;,d74  4
  7b7 ,effective date ,! am5dm5t made by
 ?is section %all take effect on ! date 
( ! enactm5t ( ?is ,act4  #ae4 ,special 
rules = use ( retirem5t funds  7a7 ,e>ly
 )drawal f retirem5t plans ,p>agraph    
7#b7 ( section #gb7t7 is am5d$ by add+  
at ! end ! foll[+ new subp>agraph3  7,h7
 ,hurricane ,s&y di/ributions           
,di/ributions to an individual :i* are  
,hurricane ,s&y di/ributions 7z def9$ 9 
p>agraph 7#aa774  4  7b7 ,special rules 

,subsection 7t7 ( section #gb is am5d$  
by add+ at ! end ! foll[+3  7#aa7       
,special rules relat+ to use ( retirem5t
 funds relat+ to ,hurricane ,s&y  7,a7  
,di/ributions ,= purposes ( ?is         
p>agraph--  7i7 ,9 g5]al ,! t]m         
,hurricane ,s&y di/ribution means any   
di/ribution f an eligible retirem5t plan
 7z def9$ by section #djb7;c77#h77;,b77 
made on or aft] ,octob] #bi1 #bjab1 &   
be=e ,janu>y #a1 #bjad1 to an individual
 ^: pr9cipal place ( abode on ,octob]   
#bi1 #bjab1 is locat$ 9 ! ,hurricane    
,s&y disa/] area 7z def9$ 9 section     
#afe7;h77#c77;,d77 & :o has su/a9$ an   
economic loss by reason ( ,hurricane    
,s&y4  7ii7 ,aggregate doll> limitation 
7,i7 ,9 g5]al ,= purposes ( ?is         
p>agraph1 ! aggregate am\nt (           
di/ributions receiv$ by an individual   
:i* may be treat$ z ,hurricane ,s&y     
di/ributions = any taxable ye> %all n   
exce$ ! excess 7if any7 (--  7aa7       
#ajj1jjj1 ov]  7bb7 ! aggregate am\nts  
treat$ z ,hurricane ,s&y di/ributions   

receiv$ by su* individual = all prior   
taxable ye>s4  7,,ii7 ,treatm5t ( plan  
di/ributions ,if a di/ribution to an    
individual w\ld 7)\t reg>d to subclause 
7,i77 be a ,hurricane ,s&y di/ribution1 
a plan %all n be treat$ z violat+ any   
requirem5t ( ?is title m]ely because !  
plan treats su* di/ribution z a         
,hurricane ,s&y di/ribution1 unless !   
aggregate am\nt ( su* di/ributions f all
 plans ma9ta9$ by ! employ] 7& any memb]
 ( any controll$ gr\p :i* includes !    
employ]7 to su* individual exce$s       
#ajj1jjj4  7,,iii7 ,controll$ gr\p ,=   
purposes ( subclause 7,,ii71 ! t]m      
controll$ gr\p means any gr\p treat$ z a
 s+le employ] "u subsection 7b71 7c71   
7m71 or 7o7 ( section #dad4  7iii7      
,am\nt di/ribut$ may be repaid  7,i7 ,9 
g5]al ,any individual :o receives a     
,hurricane ,s&y di/ribution may1 at any 
"t dur+ ! #c-ye> p]iod beg9n+ on ! day  
aft] ! date on :i* su* di/ribution 0    
receiv$1 make "o or m contributions 9 an
 aggregate am\nt n to exce$ ! am\nt (   

su* di/ribution to an eligible retirem5t
 plan ( :i* su* individual is a         
b5efici>y & to :i* a rollov]            
contribution ( su* di/ribution c\ld be  
made "u section #djb7;c71 #djc7;a77#d71 
#djc7;b77#h71 #djh7;d77#c71 or          
#deg7;e77#af71 z ! case may be4  7,,ii7 
,treatm5t ( repaym5ts ( di/ributions f  
eligible retirem5t plans o!r ?an ,i,r,as
 ,= purposes ( ?is title1 if a          
contribution is made pursuant to        
subclause 7,i7 ) respect to a ,hurricane
 ,s&y di/ribution f an eligible         
retirem5t plan o!r ?an an individual    
retirem5t plan1 !n ! taxpay] %all1 to ! 
ext5t ( ! am\nt ( ! contribution1 be    
treat$ z hav+ receiv$ ! ,hurricane ,s&y 
di/ribution 9 an eligible rollov]       
di/ribution 7z def9$ 9 section          
#djb7;c77#d77 & z hav+ transf]r$ ! am\nt
 to ! eligible retirem5t plan 9 a direct
 tru/ee to tru/ee transf] )9 #fj days ( 
! di/ribution4  7,,iii7 ,treatm5t (     
repaym5ts = di/ributions f ,i,r,as ,=   
purposes ( ?is title1 if a contribution 

is made pursuant to subclause 7,i7 )    
respect to a ,hurricane ,s&y di/ribution
 f an individual retirem5t plan 7z def9$
 by section #ggja7;a77#cg771 !n1 to !   
ext5t ( ! am\nt ( ! contribution1 !     
,hurricane ,s&y di/ribution %all be     
treat$ z a di/ribution describ$ 9       
section #djh7;d77#c7 & z hav+ be5       
transf]r$ to ! eligible retirem5t plan 9
 a direct tru/ee to tru/ee transf] )9   
#fj days ( ! di/ribution4  7iv7 ,income 
inclusion spread ov] #c-ye> p]iod  7,i7 
,9 g5]al ,9 ! case ( any ,hurricane ,s&y
 di/ribution1 unless ! taxpay] elects n 
to h ?is clause apply = any taxable ye>1
 any am\nt requir$ to be includ$ 9 gross
 income = su* taxable ye> %all be s     
includ$ ratably ov] ! #c-taxable ye>    
p]iod beg9n+ ) su* taxable ye>4  7,,ii7 
,special rule ,= purposes ( subclause   
7,i71 rules simil> to ! rules (         
subp>agraph 7,e7 ( section              
#djh;,a7d77#c7 %all apply4  7v7 ,special
 rules  7,i7 ,exemption ( di/ributions f
 tru/ee to tru/ee transf] & )hold+ rules

 ,= purposes ( sections #dja7;a77#ca71  
#djb7;f71 & #cdje1 ,hurricane ,s&y      
di/ributions %all n be treat$ z eligible
 rollov] di/ributions4  7,,ii7          
,hurricane ,s&y di/ributions treat$ z   
meet+ plan di/ribution requirem5ts ,=   
purposes ?is title1 a ,hurricane ,s&y   
di/ribution %all be treat$ z meet+ !    
requirem5ts ( sections                  
#dja7k77#b77;,b77i71                    
#djc7;b77#g77;,a77ii71 #djc7;b77#aa71 & 
#deg7;d77#a77;,a74  7,b7                
,recontributions ( )drawals = home      
pur*ases  7i7 ,9 g5]al ,any individual  
:o receiv$ a di/ribution describ$ 9     
clause 7ii7 may1 dur+ ! applicable      
p]iod1 make "o or m contributions 9 an  
aggregate am\nt n to exce$ ! am\nt ( su*
 di/ribution to an eligible retirem5t   
plan 7z def9$ 9 section                 
#djb7;c77#h77;,b77 ( :i* su* individual 
is a b5efici>y & to :i* a rollov]       
contribution ( su* di/ribution c\ld be  
made "u section #djb7;c71 #djc7;a77#d71 
#djc7;b77#h71 or #djh7;d77#c71 z ! case 

may be4  7ii7 ,di/ribution describ$ ,=  
purposes ( clause 7i71 a di/ribution is 
describ$ 9 ?is clause if ! di/ribution--
  7,i7 is describ$ 9 p>agraph 7#b77;,f7 
or section #dja7k77#b77;,b77i77,,iv71   
#djc7;b77#g77;,a77ii7 7b only to ! ext5t
 su* di/ribution relates to f9ancial    
h>d%ip71 or #djc7;b77#aa77;,b71  7,,ii7 
is receiv$ aft] ,april #bi1 #bjab1 &    
be=e ,octob] #cj1 #bjab1 &  7,,iii7 0 to
 be us$ to pur*ase or con/ruct a        
pr9cipal resid5ce 9 ! ,hurricane ,s&y   
disa/] area 7z def9$ 9 section          
#afe7;h77#c77;,d771 b :i* 0 n s pur*as$ 
or con/ruct$ on acc\nt ( ,hurricane     
,s&y4  7iii7 ,applicable p]iod ,=       
purposes ( ?is subp>agraph1 ! t]m       
applicable p]iod means ! p]iod beg9n+ on
 ,octob] #bi1 #bjab1 & end+ five mon?s  
aft] ! date ( enactm5t ( ! ,hurricane   
,s&y ,tax ,relief ,act ( #bjac4  7iv7   
,treatm5t ( repaym5ts ,rules simil> to !
 rules ( subclauses 7,,ii7 & 7,,iii7 (  
subp>agraph 7,a77iii7 %all apply =      
purposes ( ?is subp>agraph4  4  7c7     

,loans f qualifi$ plans ,subsection 7p7 
( section #gb is am5d$ by add+ at ! end 
! foll[+3  7#f7 ,special rules relat+ to
 ,hurricane ,s&y  7,a7 ,increase 9 limit
 on loans n treat$ z di/ributions ,9 !  
case ( any loan f a qualifi$ employ]    
plan to a qualifi$ individual made dur+ 
! applicable p]iod--  7i7 p>agraph      
7#b77;,a77i7 %all be appli$ by sub/itut+
 #ajj1jjj = #ej1jjj1 &  7ii7 p>agraph   
7#b77;,a77ii7 %all be appli$ by         
sub/itut+ ! pres5t value ( !            
non=feitable accru$ b5efit ( ! employee 
"u ! plan = "o-half ( ! pres5t value ( !
 non=feitable accru$ b5efit ( ! employee
 "u ! plan4  7,b7 ,delay ( repaym5t ,9 !
 case ( a qualifi$ individual ) an      
out/&+ loan on or aft] ! qualifi$ beg9n+
 date f a qualifi$ employ] plan--  7i7  
if ! due date pursuant to subp>agraph   
7,b7 or 7,c7 ( p>agraph 7#b7 = any      
repaym5t ) respect to su* loan occurs   
dur+ ! p]iod beg9n+ on ! qualifi$ beg9n+
 date & end+ on ,decemb] #ca1 #bjac1 su*
 due date %all be delay$ = #a ye>1  7ii7

 any subsequ5t repaym5ts ) respect to   
any su* loan %all be appropriately      
adju/$ to reflect ! delay 9 ! due date  
"u clause 7i7 & any int]e/ accru+ dur+  
su* delay1 &  7iii7 9 det]m9+ ! #e-ye>  
p]iod & ! t]m ( a loan "u subp>agraph   
7,b7 or 7,c7 ( p>agraph 7#b71 ! p]iod   
describ$ 9 clause 7i7 %all be disreg>d$4
  7,c7 ,qualifi$ individual ,= purposes 
( ?is p>agraph--  7i7 ,9 g5]al ,! t]m   
qualifi$ individual means any qualifi$  
,hurricane ,s&y individual4  7ii7       
,qualifi$ ,hurricane ,s&y individual ,! 
t]m qualifi$ ,hurricane ,s&y individual 
means an individual ^: pr9cipal place ( 
abode on ,octob] #bi1 #bjab1 is locat$ 9
 ! ,hurricane ,s&y disa/] area 7z def9$ 
9 section #afe7;h77#c77;,d77 & :o has   
su/a9$ an economic loss by reason (     
,hurricane ,s&y4  7,d7 ,o!r def9itions  
,= purposes ( ?is p>agraph--  7i7       
,applicable p]iod ,! applicable p]iod is
 ! p]iod beg9n+ on ! date ( enactm5t ( !
 ,hurricane ,s&y ,tax ,relief ,act (    
#bjac & end+ on ,decemb] #ca1 #bjac4    

7ii7 ,qualifi$ beg9n+ date ,! qualifi$  
beg9n+ date is ,octob] #bi1 #bjab4  4   
7d7 ,effective date ,! am5dm5ts made by 
?is section %all apply to ye>s end+ aft]
 ,octob] #bh1 #bjab4  7e7 ,provisions   
relat+ to plan am5dm5ts  7#a7 ,9 g5]al  
,if ?is subsection applies to any       
am5dm5t to any plan or annuity contract1
 su* plan or contract %all be treat$ z  
be+ op]at$ 9 accordance ) ! t]ms ( !    
plan dur+ ! p]iod describ$ 9 p>agraph   
7#b77;,b77i74  7#b7 ,am5dm5ts to :i*    
subsection applies  7,a7 ,9 g5]al ,?is  
subsection %all apply to any am5dm5t to 
any plan or annuity contract :i* is     
made--  7i7 pursuant to any provision (1
 or am5dm5t made by4 ?is section1 or    
pursuant to any regulation issu$ by !   
,secret>y ( ! ,treasury or ! ,secret>y (
 ,labor "u any provision (1 or am5dm5t  
made by1 ?is section1 &  7ii7 on or be=e
 ! la/ day ( ! fir/ plan ye> beg9n+ on  
or aft] ,janu>y #a1 #bjad1 or su* lat]  
date z ! ,secret>y ( ! ,treasury may    
prescribe4  ,9 ! case ( a gov]nm5tal    

plan 7z def9$ 9 section #dad7;d771      
clause 7ii7 %all be appli$ by sub/itut+ 
! date :i* is #b ye>s aft] ! date       
o!rwise appli$ "u clause 7ii74  7,b7    
,conditions ,?is subsection %all n apply
 to any am5dm5t unless--  7i7 dur+ !    
p]iod--  7,i7 beg9n+ on ! date t ?is    
section or ! regulation describ$ 9      
subp>agraph 7,a77i7 takes effect 7or 9 !
 case ( a plan or contract am5dm5t n    
requir$ by ?is section or su*           
regulation1 ! effective date specifi$ by
 ! plan71 &  7,,ii7 end+ on ! date      
describ$ 9 subp>agraph 7,a77ii7 7or1 if 
e>li]1 ! date ! plan or contract am5dm5t
 is adopt$71 ! plan or contract is      
op]at$ z if su* plan or contract am5dm5t
 7 9 effect2 &  7ii7 su* plan or        
contract am5dm5t applies retroactively =
 su* p]iod4