,,ii  #aacth ,,congress  #b;d ,session  
,s4 #bgag  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,july #ca1     
#bjad ,mrs4 ,gillibrand introduced the  
following bill2 which was read twice and
 referred to the ,committee on ,finance 
,a ,,bill  ,to amend the ,internal      
,revenue ,code to provide a refundable  
credit for costs associated with        
,information ,sharing and ,analysis     
,organizations4  #a4 ,short title ,this 
,act may be cited as the ,cyber         
,information ,sharing ,tax ,credit ,act4
  #b4 ,information sharing and analysis 
organization credit  7a7 ,in general    
,subpart ,c of part ,,iv of subchapter  
,a of chapter #a of the ,internal       
,revenue ,code of #aihf is amended by   
inserting after section #cf;,b the      
following new section3  #cf;,c4         
,information sharing and analysis       
organization credit  7a7 ,in general    
,there shall be allowed as a credit     
against the tax imposed by this subtitle
 for any taxable year an amount equal to

 the qualified ,information ,sharing and
 ,analysis ,organization costs paid or  
incurred by the taxpayer during such    
taxable year4  7b7 ,qualified           
,information ,sharing and ,analysis     
,organization costs ,for purposes of    
this section-- 7#a7 ,in general ,the    
term qualified ,information ,sharing and
 ,analysis ,organization costs means the
 sum of-- 7,a7 dues for membership in an
 ,information ,sharing and ,analysis    
,organization1  7,b7 personnel          
participation costs1  7,c7 product and  
service costs directly related to the   
sharing of information with the         
,information ,sharing and ,analysis     
,organization1 and  7,d7 other amounts  
7not including amounts for travel7      
relating to participation in activities 
of the ,information ,sharing and        
,analysis ,organization4  7#b7          
,personnel participation costs ,the term
 personnel participation costs means the
 cost associated with the time that     
employees of the taxpayer spend         

participating in activities of an       
,information ,sharing and ,analysis     
,organization on behalf of the taxpayer1
 determined on the basis of the regular 
hourly compensation paid to each such   
employee4  7#c7 ,information ,sharing   
and ,analysis ,organization ,the term   
,information ,sharing and ,analysis     
,organization has the meaning given such
 term by section #bab7e7 of the         
,homeland ,security ,act of #bjjb 7#f   
,u4,s4,c4 #aca7e771 or such other       
meaning as identified by the ,secretary 
in consultation with the ,secretary of  
,homeland ,security4  4  7b7 ,conforming
 amendment ,paragraph 7#b7 of section   
#acbd7;b7 of title #ca1 ,united ,states 
,code1 is amended by inserting 1 #cf;,c 
after #cf;,b4  7c7 ,clerical amendment  
,the table of sections for subpart ,c of
 part ,,iv of subchapter ,a of chapter  
#a of the ,internal ,revenue ,code of   
#aihf is amended by inserting after the 
item relating to section #cf;,b the     
following new item3  ,sec4 #cf;,c4      

,information sharing and analysis       
organization credit4  4  7d7 ,effective 
date ,the amendments made by this       
section shall apply to amounts paid or  
incurred after ,december #ca1 #bjad4