,i  #aacth ,,congress  #b;d ,session    
,h4 ,r4 #egaf  ,,in ,,the ,,house ,,of  
,,representatives  ,november #ad1 #bjad 
,mr4 ,smith of ,new ,jersey 7for himself
 and ,mr4 ,runyan7 introduced the       
following bill2 which was referred to   
the ,committee on ,ways and ,means  ,a  
,,bill  ,to extend the replacement      
period for nonrecognition of gain for   
property involuntarily converted in the 
,hurricane ,sandy disaster area4  #a4   
,short title ,this ,act may be cited as 
the ,sandy ,reinvestment ,extension ,act
 of #bjad4  #b4 ,extension of           
replacement period for nonrecognition of
 gain for property involuntarily        
converted in the ,hurricane ,sandy      
disaster area  7a7 ,in general ,section 
#ajcc7;a77#b77;,b77i7 of the ,internal  
,revenue ,code of #aihf shall be applied
 by substituting #e years for #b years  
with respect to property in the         
,hurricane ,sandy disaster area which is
 compulsorily or involuntary converted  
on or after ,october #bi1 #bjab1 by     

reason of ,hurricane ,sandy1 but only if
 substantially all of the use of the    
replacement property is in such area4   
7b7 ,hurricane ,sandy disaster area ,for
 purposes of this section1 the term     
,hurricane ,sandy disaster area means an
 area with respect to which a major     
disaster has been declared by the       
,president under section #dja of the    
,robert ,t4 ,stafford ,disaster ,relief 
and ,emergency ,assistance ,act by      
reason of ,hurricane ,sandy and         
determined by the ,president to warrant 
individual or individual and public     
assistance from the ,federal ,government
 under such ,act with respect to damages
 attributable to ,hurricane ,sandy4