,,ii  #aac? ,,congress  #b;d ,session   
,s4 #bcff  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,may #ba1 #bjad ,mrs4  
,murray introduc$ ! foll[+ bill2 :i* 0  
read twice & ref]r$ to ! ,committee on  
,f9ance  ,a ,,bill  ,to am5d ! ,ri*>d   
,b4 ,russell ,national ,s*ool ,lun* ,act
 to e/abli% a p]man5t1 nationwide summ] 
electronic b5efits transf] = *ildr5     
program4  #a4 ,%ort title ,?is ,act may 
be cit$ z ! ,/op ,*ild ,summ] ,hung]    
,act ( #bjad4  #b4 ,summ] electronic    
b5efits transf] = *ildr5 program        
,section #ac7;a7 ( ! ,ri*>d ,b4 ,russell
 ,national ,s*ool ,lun* ,act 7#db       
,u4,s4,c4 #agfa7;a77 is am5d$ by add+ at
 ! end ! foll[+3  7#ac7 ,summ]          
electronic b5efits transf] = *ildr5     
program  7,a7 ,def9itions ,9 ?is        
p>agraph3 7i7 ,eligible h\sehold ,! t]m 
eligible h\sehold means a h\sehold t    
includes #a or m *ildr5 :o are eligible 
to receive free or r$uc$ price lun*es "u
 ?is ,act or free or r$uc$ price        
breakfa/s "u ! ,*ild ,nutrition ,act (  

#aiff 7#db ,u4,s4,c4 #agga et seq474    
7ii7 ,summ] ,,ebt c>d ,! t]m summ] ,,ebt
 c>d means an electronic b5efit transf] 
c>d t is issu$ to an eligible h\sehold  
"u ?is p>agraph & limit$ to food        
pur*ases4  7,b7 ,program ,! ,secret>y   
%all e/abli% a program "u :i* !         
,secret>y %all provide to eligible      
h\seholds summ] ,,ebt c>ds = ! purpose (
 provid+ access to food = *ildr5 dur+   
summ] mon?s-- 7i7 to r$uce or elim9ate !
 food insecurity & hung] ( *ildr52 &    
7ii7 to improve ! nutritional /atus (   
*ildr54  7,c7 ,use ,an eligible h\sehold
 may use a summ] ,,ebt c>d only to      
pur*ase food f retail food /ores t h be5
 approv$ = p>ticipation 9 ! supplem5tal 
nutrition assi/ance program e/abli%$ "u 
! ,food & ,nutrition ,act ( #bjjh 7#g   
,u4,s4,c4 #bjaa et seq471 9 accordance )
 section #g7;b7 ( t ,act 7#g ,u4,s4,c4  
#bjaf7;b774  7,d7 ,am\nt ,ea* summ]     
,,ebt c>d issu$ %all be 9 an am\nt (--  
7i7 = cal5d> ye> #bjaf1 #aej 9 food     
assi/ance p] *ild p] summ]2 &  7ii7 =   

ea* subsequ5t cal5d> ye>1 ! am\nt       
specifi$ 9 clause 7i7 z adju/$ to       
reflect *anges 9 reimbursem5t rates =   
s*ool meals "u ?is ,act betwe5 cal5d>   
ye> #bjaf & ! mo/ rec5t cal5d> ye>4     
7,e7 ,tim+ ,summ] ,,ebt c>ds %all be    
issu$ at ! end ( ! regul> s*ool ye>4    
7,f7 ,fund+  7i7 ,9 g5]al ,on ,octob]   
#a1 #bjae1 & on ea* ,octob] #a !reaft]1 
out ( any funds 9 ! ,treasury n o!rwise 
appropriat$1 ! ,secret>y ( ! ,treasury  
%all transf] to ! ,secret>y su* sums z  
are necess>y to c>ry out ?is section1 to
 rema9 available until exp5d$4  7ii7    
,receipt & acceptance ,! ,secret>y %all 
be entitl$ to receive1 %all accept1 &   
%all use to c>ry out ?is section ! funds
 transf]r$ "u clause 7i71 )\t fur!r     
appropriation4  7,g7 ,regulations  7i7  
,9 g5]al ,n lat] ?an ,octob] #a1 #bjae1 
! ,secret>y %all issue regulations to   
c>ry out ?is p>agraph4  7ii7            
,requirem5ts ,regulations issu$ "u ?is  
subp>agraph %all require t-- 7,i7 *ildr5
 %all be eligible to p>ticipate & %all  

be enroll$ into ! program "u ?is        
p>agraph = a summ] )\t fur!r application
 if ! *ildr5 are enroll$ to p>ticipate 9
 ! free or r$uc$ price lun* program "u  
?is ,act or ! free or r$uc$ price       
breakfa/ program "u ! ,*ild ,nutrition  
,act ( #aiff 7#db ,u4,s4,c4 #agga et    
seq47 dur+ ! s*ool ye> imm$iately prec$+
 ! summ]2 &  7,,ii7 local educational   
ag5cies %all di/ribute to ! families (  
all *ildr5 enroll$ 9 s*ools p>ticipat+ 9
 programs au?oriz$ "u ?is ,act & ! ,*ild
 ,nutrition ,act ( #aiff 7#db ,u4,s4,c4 
#agga et seq47 &1 to ! maximum ext5t    
practicable1 ! families ( all *ildr5    
enroll$ 9 s*ools ( ! local educational  
ag5cy in=mation1 z provid$ by !         
,secret>y-- 7aa7 reg>d+ ! program       
au?oriz$ "u ?is p>agraph1 includ+       
eligibility rules & h[ *ildr5 9 eligible
 h\seholds t are n automatically enroll$
 "u subclause 7,i7 may apply = program  
b5efits2 &  7bb7 to assi/ h\seholds     
receiv+ summ] ,,ebt c>ds 9 mak+ heal?y  
food *oices & maximiz+ res\rces4  7iii7 

,alt]native tim+  7,i7 ,9 g5]al ,9 issu+
 regulations "u ?is subp>agraph1 !      
,secret>y %all all[ alt]native plans = !
 tim+ ( issuance ( ! summ] electronic   
b5efit c>ds "u subp>agraph 7,d7 9 any "p
 ( a ,/ate 9 :i* ! s*ool ye> does n     
include a typical summ] break1 on !     
condition t ! ,secret>y det]m9es t no   
alt]native plan increases or decreases  
,f$]al co/s4  7,,ii7 ,consid]ations ,9  
develop+ regulations "u subclause 7,i71 
! ,secret>y %all consid] ! ability ( a  
,/ate effectively to issue b5efits "u an
 alt]native s*$ule4  4  #c4 ,def]       
d$uction ( int]e/ exp5se relat$ to      
def]r$ income  7a7 ,9 g5]al ,section    
#afc ( ! ,int]nal ,rev5ue ,code ( #aihf 
7relat+ to d$uctions = int]e/ exp5se7 is
 am5d$ by r$esignat+ subsection 7n7 z   
subsection 7o7 & by ins]t+ aft]         
subsection 7m7 ! foll[+ new subsection3 
7n7 ,def]ral ( d$uction = int]e/ exp5se 
relat$ to def]r$ income  7#a7 ,g5]al    
rule ,! am\nt ( =eign-relat$ int]e/     
exp5se ( any taxpay] all[$ z a d$uction 

"u ?is *apt] = any taxable ye> %all n   
exce$ an am\nt equal to ! applicable    
p]c5tage ( ! sum (-- 7,a7 ! taxpay]'s   
=eign-relat$ int]e/ exp5se = ! taxable  
ye>1 plus  7,b7 ! taxpay]'s def]r$      
=eign-relat$ int]e/ exp5se4  ,= purposes
 ( ?is p>agraph1 ! applicable p]c5tage  
is ! p]c5tage equal to ! curr5t         
inclusion ratio4  7#b7 ,treatm5t (      
def]r$ d$uctions ,if1 = any taxable ye>1
 ! am\nt ( ! limitation det]m9$ "u      
p>agraph 7#a7 exce$s ! taxpay]'s        
=eign-relat$ int]e/ exp5se = ! taxable  
ye>1 !re %all be all[$ z a d$uction = ! 
taxable ye> an am\nt equal to ! less]   
(-- 7,a7 su* excess1 or  7,b7 !         
taxpay]'s def]r$ =eign-relat$ int]e/    
exp5se4  7#c7 ,def9itions & special rule
 ,= purposes ( ?is subsection--  7,a7   
,=eign-relat$ int]e/ exp5se ,! t]m      
=eign-relat$ int]e/ exp5se means1 )     
respect to any taxpay] = any taxable    
ye>1 ! am\nt :i* be>s ! same ratio to ! 
am\nt ( int]e/ exp5se = su* taxable ye> 
allocat$ & apportion$ "u sections #hfa1 

#hfd7;e71 & #hfd7;f7 to income f s\rces 
outside ! ,unit$ ,/ates z-- 7i7 ! value 
( all /ock held by ! taxpay] 9 all      
section #ijb corporations ) respect to  
:i* ! taxpay] meets ! own]%ip           
requirem5ts ( subsection 7a7 or 7b7 (   
section #ijb1 be>s to  7ii7 ! value (   
all assets ( ! taxpay] :i* g5]ate gross 
income f s\rces outside ! ,unit$ ,/ates4
  7,b7 ,def]r$ =eign-relat$ int]e/      
exp5se ,! t]m def]r$ =eign-relat$ int]e/
 exp5se means ! excess1 if any1 ( !     
aggregate =eign-relat$ int]e/ exp5se =  
all prior taxable ye>s beg9n+ aft]      
,decemb] #ca1 #bjad1 ov] ! aggregate    
am\nt all[$ z a d$uction "u p>agraphs   
7#a7 & 7#b7 = all su* prior taxable     
ye>s4  7,c7 ,value ( assets ,except z   
o!rwise provid$ by ! ,secret>y1 =       
purposes ( subp>agraph 7,a77ii71 ! value
 ( any asset %all be ! am\nt ) respect  
to su* asset det]m9$ = purposes (       
allocat+ & apportion+ int]e/ exp5se "u  
sections #hfa1 #hfd7;e71 & #hfd7;f74    
7,d7 ,curr5t inclusion ratio ,! t]m     

curr5t inclusion ratio means1 ) respect 
to any dome/ic corporation :i* meets !  
own]%ip requirem5ts ( subsection 7a7 or 
7b7 ( section #ijb ) respect to "o or m 
section #ijb corporations = any taxable 
ye>1 ! ratio 7express$ z a p]c5tage7 (--
  7i7 ! sum ( all divid5ds receiv$ by ! 
dome/ic corporation f all su* section   
#ijb corporations dur+ ! taxable ye>    
plus am\nts includible 9 gross income "u
 section #iea7;a7 f all su* section #ijb
 corporations1 9 ea* case comput$ )\t   
reg>d to section #gh1 divid$ by  7ii7 ! 
aggregate am\nt ( po/-#aihf undi/ribut$ 
e>n+s4  7,e7 ,aggregate am\nt (         
po/-#aihf undi/ribut$ e>n+s ,! t]m      
aggregate am\nt ( po/-#aihf undi/ribut$ 
e>n+s means1 ) respect to any dome/ic   
corporation :i* meets ! own]%ip         
requirem5ts ( subsection 7a7 or 7b7 (   
section #ijb ) respect to "o or m       
section #ijb corporations1 ! dome/ic    
corporation's pro rata %>e ( ! po/-#aihf
 undi/ribut$ e>n+s 7z def9$ 9 section   
#ijb7;c77#a77 ( all su* section #ijb    

corporations4  7,f7 ,=eign curr5cy      
conv]sion ,= purposes ( det]m9+ ! curr5t
 inclusion ratio1 & except z o!rwise    
provid$ by ! ,secret>y1 ! aggregate     
am\nt ( po/-#aihf undi/ribut$ e>n+s = ! 
taxable ye> %all be det]m9$ by translat+
 ea* section #ijb corporation's         
po/-#aihf undi/ribut$ e>n+s into doll>s 
us+ ! av]age ex*ange rate = su* ye>4    
7,g7 ,section #ijb corporation ,! t]m   
section #ijb corporation has ! mean+    
giv5 to su* t]m by section #iji7;d77#e74
  7#d7 ,treatm5t ( affiliat$ gr\ps ,!   
curr5t inclusion ratio ( ea* memb] ( an 
affiliat$ gr\p 7z def9$ 9 section       
#hfd7;e77#e77;,a77 %all be det]m9$ z if 
all memb]s ( su* gr\p 7 a s+le          
corporation4  7#e7 ,application to      
sep>ate categories ( income ,?is        
subsection %all be appli$ sep>ately )   
respect to ! categories ( income        
specifi$ 9 section #ijd7;d77#a74  7#f7  
,regulations ,! ,secret>y may prescribe 
su* regulations or o!r guidance z is    
necess>y or appropriate to c>ry out !   

purposes ( ?is subsection1 includ+      
regulations or o!r guidance provid+--   
7,a7 = ! prop] application ( ?is        
subsection ) respect to *anges 9 own]%ip
 ( a section #ijb corporation1  7,b7 t  
c]ta9 corporations t o!rwise w\ld n be  
memb]s ( ! affiliat$ gr\p w be treat$ z 
memb]s ( ! affiliat$ gr\p = purposes (  
?is subsection1  7,c7 = ! prop]         
application ( ?is subsection ) respect  
to ! taxpay]'s %>e ( a deficit 9 e>n+s &
 pr(its ( a section #ijb corporation1   
7,d7 = appropriate adju/m5ts to !       
det]m9ation ( ! value ( /ock 9 any      
section #ijb corporation = purposes (   
?is subsection or to ! =eign-relat$     
int]e/ exp5se to acc\nt = income t is   
subject to tax "u section #hhb7;a77#a71 
&  7,e7 = ! prop] application ( ?is     
subsection ) respect to int]e/ exp5se t 
is directly allocable to income )       
respect to c]ta9 assets4  4  7b7        
,effective date ,! am5dm5ts made by ?is 
section %all apply to taxable ye>s      
beg9n+ aft] ,decemb] #ca1 #bjad4