,,ii  ,cal5d> ,no4 #dgg #aac? ,,congress
  #b;d ,session  ,h4 ,r4 #dgai  ,,9 ,,! 
,,s5ate ,,( ,,! ,,unit$ ,,/ates  ,july  
#bb1 #bjad,receiv$2 read ! fir/ "t      
,july #bc1 #bjad,read ! second "t &     
plac$ on ! cal5d>  ,,an ,,act  ,to am5d 
! ,int]nal ,rev5ue ,code ( #aihf to     
p]man5tly ext5d & exp& ! *>itable       
d$uction = contributions ( food         
inv5tory4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,am]ica ,gives ,m ,act (   
#bjad4  #b4 ,ext5sion & expansion (     
*>itable d$uction = contributions ( food
 inv5tory  7a7 ,p]man5t ext5sion        
,section #agj7;e77#c77;,c7 ( ! ,int]nal 
,rev5ue ,code ( #aihf is am5d$ by /rik+ 
clause 7iv74  7b7 ,increase 9 limitation
 ,section #agj7;e77#c77;,c7 ( su* ,code1
 z am5d$ by subsection 7a71 is am5d$ by 
/rik+ clause 7ii71 by r$esignat+ clause 
7iii7 z clause 7iv71 & by ins]t+ aft]   
clause 7i7 ! foll[+ new clauses3  7ii7  
,limitation ,! aggregate am\nt ( su*    
contributions = any taxable ye> :i* may 
be tak5 into acc\nt "u ?is section %all 

n exce$--  7,i7 9 ! case ( any taxpay]  
o!r ?an a ,c corporation1 #ae p]c5t ( ! 
taxpay]'s aggregate net income = su*    
taxable ye> f all trades or bus9esses f 
:i* su* contributions 7 made = su* ye>1 
comput$ )\t reg>d to ?is section1 &     
7,,ii7 9 ! case ( a ,c corporation1 #ae 
p]c5t ( taxable income 7z def9$ 9       
subsection 7b77#b77;,d774  7iii7 ,rules 
relat$ to limitation  7,i7 ,c>ryov] ,if 
su* aggregate am\nt exce$s ! limitation 
impos$ "u clause 7ii71 su* excess %all  
be treat$ 79 a mann] consi/5t ) ! rules 
( subsection 7d77 z a *>itable          
contribution describ$ 9 clause 7i7 9 ea*
 ( ! #e succe$+ ye>s 9 ord] ( "t4       
7,,ii7 ,coord9ation ) ov]all corporate  
limitation ,9 ! case ( any *>itable     
contribution all[able "u clause         
7ii77,,ii71 subsection 7b77#b77;,a7 %all
 n apply to su* contribution1 b !       
limitation impos$ by su* subsection %all
 be r$uc$ 7b n bel[ z]o7 by ! aggregate 
am\nt ( su* contributions4 ,= purposes (
 subsection 7b77#b77;,b71 su*           

contributions %all be treat$ z all[able 
"u subsection 7b77#b77;,a74  4  7c7     
,det]m9ation ( basis = c]ta9 taxpay]s   
,section #agj7;e77#c77;,c7 ( su* ,code1 
z am5d$ by subsections 7a7 & 7b71 is    
am5d$ by add+ at ! end ! foll[+ new     
clause3  7v7 ,det]m9ation ( basis =     
c]ta9 taxpay]s ,if a taxpay]--  7,i7    
does n acc\nt = inv5tories "u section   
#dga1 &  7,,ii7 is n requir$ to         
capitalize indirect co/s "u section     
#bfc;,a1  ! taxpay] may elect1 solely = 
purposes ( subp>agraph 7,b71 to treat ! 
basis ( any app>5tly :olesome food z be+
 equal to #be p]c5t ( ! fair m>ket value
 ( su* food4  4  7d7 ,det]m9ation ( fair
 m>ket value ,section #agj7;e77#c77;,c7 
( su* ,code1 z am5d$ by subsections 7a71
 7b71 & 7c71 is am5d$ by add+ at ! end !
 foll[+ new clause3  7vi7 ,det]m9ation (
 fair m>ket value ,9 ! case ( any su*   
contribution ( app>5tly :olesome food   
:i* _c or w n be sold solely by reason (
 int]nal /&>ds ( ! taxpay]1 lack (      
m>ket1 or simil> circum/ances1 or by    

reason ( be+ produc$ by ! taxpay]       
exclusively = ! purposes ( transf]r+ !  
food to an organization describ$ 9      
subp>agraph 7,a71 ! fair m>ket value (  
su* contribution %all be det]m9$--  7,i7
 )\t reg>d to su* int]nal /&>ds1 su*    
lack ( m>ket1 su* circum/ances1 or su*  
exclusive purpose1 &  7,,ii7 by tak+    
into acc\nt ! price at :i* ! same or    
sub/antially ! same food items 7z to bo?
 type & quality7 are sold by ! taxpay]  
at ! "t ( ! contribution 7or1 if n s    
sold at su* "t1 9 ! rec5t pa/74  4  7e7 
,effective ,date  7#a7 ,9 g5]al ,except 
z o!rwise provid$ 9 ?is subsection1 !   
am5dm5ts made by ?is section %all apply 
to contributions made aft] ,decemb] #ca1
 #bjac1 9 taxable ye>s end+ aft] su*    
date4  7#b7 ,limitation2 applicability  
to ,c corporations ,! am5dm5ts made by  
subsection 7b7 %all apply to            
contributions made 9 taxable ye>s beg9n+
 aft] ,decemb] #ca1 #bjac4  #c4 ,rule   
all[+ c]ta9 tax-free di/ributions f     
individual retirem5ts acc\nts = *>itable

 purposes made p]man5t  7a7 ,9 g5]al    
,section #djh7;d77#h7 ( ! ,int]nal      
,rev5ue ,code ( #aihf is am5d$ by /rik+ 
subp>agraph 7,f74  7b7 ,effective date  
,! am5dm5t made by ?is section %all     
apply to di/ributions made 9 taxable    
ye>s beg9n+ aft] ,decemb] #ca1 #bjac4   
#d4 ,special rule = qualifi$ cons]vation
 contributions modifi$ & made p]man5t   
7a7 ,made p]man5t  7#a7 ,individuals    
,subp>agraph 7,e7 ( section #agj7;b77#a7
 ( ! ,int]nal ,rev5ue ,code ( #aihf is  
am5d$ by /rik+ clause 7vi74  7#b7       
,corporations ,subp>agraph 7,b7 (       
section #agj7;b77#b7 ( su* ,code is     
am5d$ by /rik+ clause 7iii74  7b7       
,contributions ( capital ga9 real       
prop]ty made = cons]vation purposes by  
,native ,corporations  7#a7 ,9 g5]al    
,p>agraph 7#b7 ( section #agj7;b7 ( !   
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by r$esignat+ subp>agraph 7,c7 z        
subp>agraph 7,d71 & by ins]t+ aft]      
subp>agraph 7,b7 ! foll[+ new           
subp>agraph3  7,c7 ,qualifi$ cons]vation

 contributions by c]ta9 ,native         
,corporations  7i7 ,9 g5]al ,any        
qualifi$ cons]vation contribution 7z    
def9$ 9 subsection 7h77#a77 :i*--  7,i7 
is made by a ,native ,corporation1 &    
7,,ii7 is a contribution ( prop]ty :i* 0
 l& convey$ "u ! ,alaska ,native ,claims
 ,settlem5t ,act1  %all be all[$ to !   
ext5t t ! aggregate am\nt ( su*         
contributions does n exce$ ! excess ( ! 
taxpay]'s taxable income ov] ! am\nt (  
*>itable contributions all[able "u      
subp>agraph 7,a74  7ii7 ,c>ryov] ,if !  
aggregate am\nt ( contributions describ$
 9 clause 7i7 exce$s ! limitation (     
clause 7i71 su* excess %all be treat$ 79
 a mann] consi/5t ) ! rules ( subsection
 7d77#b77 z a *>itable contribution to  
:i* clause 7i7 applies 9 ea* ( ! #ae    
succe$+ ye>s 9 ord] ( "t4  7iii7 ,native
 ,corporation ,= purposes ( ?is         
subp>agraph1 ! t]m ,native ,corporation 
has ! mean+ giv5 su* t]m by section     
#c7m7 ( ! ,alaska ,native ,claims       
,settlem5t ,act4  4  7#b7 ,con=m+       

am5dm5t ,section #agj7;b77#b77;,a7 ( su*
 ,code is am5d$ by /rik+ subp>agraph    
7,b7 applies & ins]t+ subp>agraph 7,b7  
or 7,c7 applies4  7#c7 ,valid exi/+     
rights pres]v$ ,no?+ 9 ?is subsection   
7or any am5dm5t made by ?is subsection7 
%all be con/ru$ to modify ! exi/+       
prop]ty rights validly convey$ to       
,native ,corporations 7)9 ! mean+ (     
section #c7m7 ( ! ,alaska ,native       
,claims ,settlem5t ,act7 "u su* ,act4   
7c7 ,effective date ,! am5dm5ts made by 
?is section %all apply to contributions 
made 9 taxable ye>s beg9n+ aft] ,decemb]
 #ca1 #bjac4  #e4 ,ext5sion ( "t = mak+ 
*>itable contributions  7a7 ,9 g5]al    
,subsection 7a7 ( section #agj ( !      
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by r$esignat+ p>agraphs 7#b7 & 7#c7 z   
p>agraphs 7#c7 & 7#d71 respectively1 &  
by ins]t+ aft] p>agraph 7#a7 ! foll[+   
new p>agraph3  7#b7 ,treatm5t ( *>itable
 contributions made by individuals be=e 
due date ( return ,if any *>itable      
contribution is made by an individual   

aft] ! close ( a taxable ye> b n lat]   
?an ! due date 7det]m9$ )\t reg>d to    
ext5sions7 = ! return ( tax = su*       
taxable ye>1 !n ! taxpay] may elect to  
treat su* *>itable contribution z made 9
 su* taxable ye>4 ,su* election %all be 
made at su* "t & 9 su* mann] z !        
,secret>y may provide4 ,= purposes ( ?is
 p>agraph1 an individual's di/ributive  
%>e ( a p>tn]%ip's *>itable             
contribution1 & an individual's pro rata
 %>e ( an ,s corporation's *>itable     
contribution1 %all n be treat$ z        
*>itable contributions made by su*      
individual4  4  7b7 ,effective date ,!  
am5dm5ts made by ?is section %all apply 
to elections made ) respect to taxable  
ye>s beg9n+ aft] ,decemb] #ca1 #bjac4   
#f4 ,modification ( ! tax rate = !      
excise tax on inve/m5t income ( private 
f\ndations  7a7 ,9 g5]al ,section       
#didj7;a7 ( ! ,int]nal ,rev5ue ,code (  
#aihf is am5d$ by /rik+ #b p]c5t &      
ins]t+ #a p]c5t4  7b7 ,elim9ation (     
r$uc$ tax :]e f\ndation meets c]ta9     

di/ribution requirem5ts ,section #didj (
 su* ,code is am5d$ by /rik+ subsection 
7e74  7c7 ,effective date ,! am5dm5ts   
made by ?is section %all apply to       
taxable ye>s beg9n+ aft] ! date ( !     
enactm5t ( ?is ,act4  #g4 ,budget>y     
effects  7a7 ,/atutory ,pay-,z-,y-,g    
,scorec>ds ,! budget>y effects ( ?is    
,act %all n be ent]$ on ei!r ,,paygo    
scorec>d ma9ta9$ pursuant to section    
#d7;d7 ( ! ,/atutory ,pay-,z-,y-,g ,act 
( #bjaj4  7b7 ,s5ate ,,paygo ,scorec>ds 
,! budget>y effects ( ?is ,act %all n be
 ent]$ on any ,,paygo scorec>d ma9ta9$ =
 purposes ( section #bja ( ,s4 ,con4    
,res4 #ba 7#aaj? ,congress74  ,pass$ !  
,h\se ( ,repres5tatives ,july #ag1      
#bjad4,k>5 ,l4 ,haas1,cl]k  ,july #bc1  
#bjad,read ! second "t & plac$ on !     
cal5d>