,i  #aac? ,,congress  #b;d ,session  ,h4
 ,r4 #egaf  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,novemb] #ad1 #bjad   
,mr4 ,smi? ( ,new ,j]sey 7= himself &   
,mr4 ,runyan7 introduc$ ! foll[+ bill2  
:i* 0 ref]r$ to ! ,committee on ,ways & 
,means  ,a ,,bill  ,to ext5d !          
replacem5t p]iod = nonrecognition ( ga9 
= prop]ty involunt>ily conv]t$ 9 !      
,hurricane ,s&y disa/] area4  #a4 ,%ort 
title ,?is ,act may be cit$ z ! ,s&y    
,re9ve/m5t ,ext5sion ,act ( #bjad4  #b4 
,ext5sion ( replacem5t p]iod =          
nonrecognition ( ga9 = prop]ty          
involunt>ily conv]t$ 9 ! ,hurricane ,s&y
 disa/] area  7a7 ,9 g5]al ,section     
#ajcc7;a77#b77;,b77i7 ( ! ,int]nal      
,rev5ue ,code ( #aihf %all be appli$ by 
sub/itut+ #e ye>s = #b ye>s ) respect to
 prop]ty 9 ! ,hurricane ,s&y disa/] area
 :i* is compulsorily or involunt>y      
conv]t$ on or aft] ,octob] #bi1 #bjab1  
by reason ( ,hurricane ,s&y1 b only if  
sub/antially all ( ! use ( ! replacem5t 
prop]ty is 9 su* area4  7b7 ,hurricane  

,s&y disa/] area ,= purposes ( ?is      
section1 ! t]m ,hurricane ,s&y disa/]   
area means an area ) respect to :i* a   
major disa/] has be5 decl>$ by !        
,presid5t "u section #dja ( ! ,rob]t ,t4
 ,/af=d ,disa/] ,relief & ,em]g5cy      
,assi/ance ,act by reason ( ,hurricane  
,s&y & det]m9$ by ! ,presid5t to w>rant 
individual or individual & public       
assi/ance f ! ,f$]al ,gov]nm5t "u su*   
,act ) respect to damages attributable  
to ,hurricane ,s&y4