,i  #aad? ,,congress  #b;d ,session  ,h4
 ,r4 #eeci  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,june #ba1 #bjaf,mr4  
,tib]i 7= himself1 ,mr4 ,danny ,k4      
,davis ( ,ill9ois1 & ,mr4 ,roskam7      
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,ways & ,means  ,a     
,,bill  ,to am5d ! ,int]nal ,rev5ue     
,code ( #aihf to exclude f gross income 
contributions to ! capital ( a p>tn]%ip1
 & = o!r purposes4  #a4 ,%ort title ,?is
 ,act may be cit$ z ! ,pres]v+ ,inve/m5t
 9 ,ne$y ,neighborhoods ,act4  #b4      
,exclusion ( contributions to capital ( 
p>tn]%ip  7a7 ,9 g5]al ,subsection 7a7 (
 section #aah ( ! ,int]nal ,rev5ue ,code
 ( #aihf is am5d$ by ins]t+ be=e ! p]iod
 at ! end ! foll[+3 1 &1 9 ! case ( a   
p>tn]%ip1 gross income %all n include   
contributions to ! capital ( ! p>tn]%ip4
  7b7 ,basis ( prop]ty contribut$ to    
p>tn]%ip ,section #gbc ( su* ,code is   
am5d$-- 7#a7 by /rik+ ,! basis ( prop]ty
 & ins]t+ ! foll[+3  7a7 ,9 g5]al       
,except z provid$ 9 subsection 7b71 !   

basis ( prop]ty  1 &  7#b7 by add+ at ! 
end ! foll[+ new subsection3  7b7       
,contributions to capital  7#a7 ,prop]ty
 o!r ?an money ,if prop]ty o!r ?an      
money-- 7,a7 is acquir$ by a p>tn]%ip z 
a contribution to capital1 &  7,b7 is n 
contribut$ by a p>tn] z su*1  !n ! basis
 ( su* prop]ty %all be z]o4  7#b7 ,money
 ,if money--  7,a7 is receiv$ by a      
p>tn]%ip z a contribution to capital1 & 
7,b7 is n contribut$ by a p>tn] z su*1  
!n ! basis ( any prop]ty acquir$ ) su*  
money dur+ ! #ab-mon? p]iod beg9n+ on ! 
day ! contribution is receiv$ %all be   
r$uc$ by ! am\nt ( su* contribution4 ,! 
excess 7if any7 ( ! am\nt ( su*         
contribution ov] ! am\nt ( ! r$uction "u
 ! prec$+ s5t5ce %all be appli$ to !    
r$uction 7z ( ! la/ day ( ! p]iod       
specifi$ 9 ! prec$+ s5t5ce7 ( ! basis ( 
any o!r prop]ty ( ! p>tn]%ip4 ,!        
p>ticul> prop]ties to :i* ! r$uctions   
requir$ by ?is p>agraph %all be allocat$
 %all be det]m9$ "u regulations         
prescrib$ by ! ,secret>y4  4  7c7 ,no   

increase 9 basis ( p>tn]'s int]e/       
,subp>agraph 7,b7 ( section #gje7;a77#a7
 ( su* ,code is am5d$ by ins]t+ 7o!r ?an
 am\nts exclud$ f gross income "u       
section #aah7 aft] exempt f tax "u ?is  
title4  7d7 ,con=m+ am5dm5t ,! head+ =  
section #aah ( su* ,code is am5d$ by    
/rik+ ( a corporation & ins]t+ (        
corporations & p>tn]%ips4  7e7          
,effective date ,! am5dm5ts made by ?is 
section %all apply to contributions made
 aft] ! date ( ! enactm5t ( ?is ,act4   
7f7 ,no inf]5ce ,no?+ conta9$ 9 ?is     
section or ! am5dm5ts made by ?is       
section %all be con/ru$ to create any   
inf]5ce "u ! ,int]nal ,rev5ue ,code (   
#aihf ) respect to ! treatm5t (         
contributions to ! capital ( p>tn]%ips  
made on or be=e ! date ( ! enactm5t (   
?is ,act4