,,ii  #aad? ,,congress  #b;d ,session   
,s4 #cbdc  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,july #ad1 #bjaf ,mr4  
,g>dn] introduc$ ! foll[+ bill2 :i* 0   
read twice & ref]r$ to ! ,committee on  
,f9ance  ,a ,,bill  ,to am5d ! ,int]nal 
,rev5ue ,code ( #aihf to help rebuild & 
r5ew rural communities1 & = o!r         
purposes4  #a4 ,%ort title2 table (     
cont5ts  7a7 ,%ort title  ,?is ,act may 
be cit$ z ! ,rebuild+ & ,r5ew+ ,rural   
,am]ica ,act ( #bjaf4  7b7 ,table (     
cont5ts ,! table ( cont5ts = ?is ,act is
 z foll[s3 ,sec4 #a4 ,%ort title2 table 
( cont5ts4 ,,title ,i--,revitaliz+      
,rural ,communities ,subtitle           
,a--,philan?ropic ,facilitation ,sec4   
#aja4 ,facilitation ( program-relat$    
inve/m5ts4 ,sec4 #ajb4 ,decl>atory      
judgm5t rem$y4 ,sec4 #ajc4 ,in=mation   
returns4 ,sec4 #ajd4 ,publicity (       
in=mation4 ,sec4 #aje4 ,con=m+ am5dm5ts4
 ,sec4 #ajf4 ,regulations4 ,sec4 #ajg4  
,effective date4 ,subtitle ,b--,rebuild+
 ,rural ,ma9 ,/reet ,sec4 #aaa4 ,tax    

cr$its = r$uction ( lead1 radon1 &      
asbe/os haz>ds 9 rural comm]cial        
/ructures4 ,subtitle ,c--,r5ew+ rural   
,am]ica ,sec4 #aba4 ,additional new     
m>kets tax cr$it = rural r5ewal         
communities4 ,subtitle ,d--,job creator 
cr$its ,sec4 #aca4 ,exp5s+ = rural      
r5ewal community bus9esses4 ,sec4 #acb4 
,r$uc$ payroll taxes = individuals &    
bus9esses 9 rural r5ewal communities4   
,subtitle ,e--,enc\rag+ small bus9ess   
/>t ups ,sec4 #ada4 ,r5ewal community   
bus9ess />t-up sav+s acc\nts4 ,,title   
,,ii--,sett+ ,rural ,am]ica ,free f     
,ov]regulation ,sec4 #bja4 ,%ort title4 
,sec4 #bjb4 ,r$uc+ excessive ,gov]nm5t 9
 rural ,am]ica4  ,i ,revitaliz+ ,rural  
,communities  ,a ,philan?ropic          
,facilitation  #aja4 ,facilitation (    
program-relat$ inve/m5ts ,subsection 7c7
 ( section #didd ( ! ,int]nal ,rev5ue   
,code ( #aihf is am5d$ to read z foll[s3
  7c7 ,program-,relat$ inve/m5ts  7#a7  
,treatm5t ( program-relat$ inve/m5ts ,= 
purposes ( ?is sub*apt]1 program-relat$ 

inve/m5ts--  7,a7 are n inve/m5ts :i*   
jeop>dize ! c>ry+ out ( "o or m purposes
 describ$ 9 section #agj7;c77#b77;,b71  
7,b7 are n bus9ess hold+s "u section    
#didc1 &  7,c7 may be qualify+          
di/ributions "u section #didb4  7#b7    
,program-relat$ inve/m5ts def9$  7,a7 ,9
 g5]al ,= purposes ( ?is sub*apt] &     
*apt] #fa1 an inve/m5t made by a private
 f\ndation con/itutes a program-relat$  
inve/m5t if--  7i7 ! prim>y purpose ( ! 
inve/m5t is to accompli% "o or m ( !    
purposes describ$ 9 section             
#agj7;c77#b77;,b71  7ii7 no significant 
purpose ( ! inve/m5t is ! production (  
income or ! appreciation ( prop]ty1 &   
7iii7 no purpose ( ! inve/m5t is to     
accompli% "o or m ( ! purposes describ$ 
9 section #agj7;c77#b77;,d74  7,b7      
,special rules ,= purposes ( subp>agraph
 7,a7-- 7i7 det]m9ations ( :e!r an      
inve/m5t qualifies z a program-relat$   
inve/m5t %all be bas$ on consid]ation ( 
all relevant facts & circum/ances1 &    
7ii7 ! fact t ! entity produces         

significant income or capital           
appreciation %all n1 9 ! abs5ce ( o!r   
factors1 be conclusive evid5ce ( a      
significant purpose involv+ ! production
 ( income or ! appreciation ( prop]ty4  
7#c7 ,safe h>bor det]m9ations ,!        
,secret>y %all e/abli% a proc$ure :i*   
%all be sub/antially simil> to !        
processes = recognition ( exemption "u  
section #eja7;a7 or #dide7;g7 & "u :i*  
an entity seek+ to receive              
program-relat$ inve/m5ts may petition ! 
,secret>y = a det]m9ation t1 bas$ on    
consid]ation ( all relevant facts &     
circum/ances1 inve/m5ts by private      
f\ndations 9 su* entity w be            
program-relat$ inve/m5ts meet+ !        
requirem5ts ( p>agraph 7#b74 ,"u ?is    
proc$ure1 ! ,secret>y %all rule on all  
reque/s )9 #abj days ( submission4  7#d7
 ,effect ( det]m9ation ,once a          
det]m9ation has be5 made t inve/m5ts 9  
an entity qualify z program-relat$      
inve/m5ts1 organizations mak+ su*       
inve/m5ts %all be entitl$ to rely on !  

det]m9ation1 unless & until ! ,secret>y 
publi%es notice ( revocation ( !        
det]m9ation4  7#e7 ,volunt>y nature (   
process ,entities seek+ program-relat$  
inve/m5ts are n requir$ to seek a       
det]m9ation "u p>agraph 7#c71 & ! abs5ce
 ( su* a det]m9ation %all n affect !    
ability ( a private f\ndation to make a 
program-relat$ inve/m5t bas$ on its own 
det]m9ation t ! inve/m5t qualifies z a  
program-relat$ inve/m5t4  7#f7          
,organizations treat$ z private         
f\ndations ,= purposes ( ?is subsection 
& section #fajd;,a1 all ref]5ces to     
private f\ndations include organizations
 t are treat$ z private f\ndations "u   
any ( ! provisions ( sections #didj     
?r\gh #didh1 inclusive1 :e!r creat$ "u  
,/ate law or ! law ( any f$]ally        
recogniz$ tribe4  4  #ajb4 ,decl>atory  
judgm5t rem$y ,p>agraph 7#a7 ( section  
#gdbh7;a7 ( ! ,int]nal ,rev5ue ,code (  
#aihf is am5d$ by /rik+ or at ! end (   
subp>agraph 7,c7 & by add+ aft]         
subp>agraph 7,d7 ! foll[+ new           

subp>agraph3  7,e7 ) respect to :e!r    
inve/m5ts 9 an entity are program-relat$
 inve/m5ts 7z describ$ 9 section        
#didd7;c77#b771 or  4  #ajc4 ,in=mation 
returns ,"p ,,iii ( sub*apt] ,a ( *apt] 
#fa ( ! ,int]nal ,rev5ue ,code ( #aihf  
is am5d$ by ins]t+ aft] section #fjcc ! 
foll[+ new section3  #fjcc;,a4          
,in=mation report+ by =-pr(it           
organizations receiv+ program-relat$    
inve/m5ts  7a7 ,organizations requir$   
,to file ,if inve/m5ts 9 an entity h be5
 det]m9$ to be program-relat$ inve/m5ts 
?r\gh a det]m9ation ( ! ,int]nal ,rev5ue
 ,s]vice pursuant to section            
#didd7;c77#c7 or by a det]m9ation ( a   
c\rt pursuant to section #gdbh7;a71 !   
entity %all1 9 addition to any o!r      
applicable fil+ obligations1 file an    
annual return provid+ ! in=mation       
specifi$ 9 subsection 7b7 = any taxable 
ye> 9 :i* x receives or reta9s "o or m  
program-relat$ inve/m5ts 7z def9$ 9     
section #didd7;c77#b774  7b7 ,requir$   
report+ ,! return describ$ 9 subsection 

7a7 %all provide1 9 su* mann] & at su*  
"t z ! ,secret>y may by =ms or          
regulations prescribe1 ! foll[+         
in=mation--  7#a7 ! organization's gross
 income = ! ye>1  7#b7 its exp5ses      
attributable to su* income incurr$ )9 ! 
ye>1  7#c7 its disbursem5ts )9 ! ye> =  
"o or m purposes describ$ 9 section     
#agj7;c77#b77;,b71 toge!r ) a n>rative  
/atem5t describ+ ! results obta9$ f !   
use ( ^? assets = su* "o or m purposes  
describ$ 9 section #agj7;c77#b77;,b71   
7#d7 a balance %eet %[+ its assets1     
liabilities1 & net wor? z ( ! beg9n+ &  
end ( su* ye>1  7#e7 ! names & addresses
 ( all private f\ndations hold+         
program-relat$ inve/m5ts 9 !            
organization1  7#f7 a /atem5t ( !       
portion ( its liabilities & net wor? t  
repres5t capitalization obta9$ by means 
( program-relat$ inve/m5ts z ( ! beg9n+ 
& end ( su* ye>1  7#g7 a /atem5t ( any  
int]e/1 divid5ds1 or o!r di/ributions   
paid ) respect to any program-relat$    
inve/m5ts dur+ ! ye>1 &  7#h7 su* o!r   

in=mation z may be necess>y = ! return  
describ$ 9 subsection 7a7 to satisfy !  
annual f9ancial report+ requir$ by !    
exp5diture responsibility rules pursuant
 to ! regulations "u section #dide or z 
! ,secret>y may by =ms or regulations   
prescribe4  4  #ajd4 ,publicity (       
in=mation ,sub*apt] ,b ( *apt] #fa ( !  
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by ins]t+ aft] section #fajd ! foll[+   
new section3  #fajd;,a4 ,publicity (    
in=mation reg>d+ organizations receiv+  
program-relat$ inve/m5ts  7a7           
,inspection ( petitions = det]m9ation ( 
program-,relat$ inve/m5t /atus ,if an   
entity seeks a det]m9ation pursuant to  
section #didd7;c77#c7 t inve/m5ts by    
private f\ndations 9 su* organization w 
be program-relat$ inve/m5ts1 ! petition 
seek+ su* a det]m9ation1 toge!r ) any   
docum5ts submitt$ 9 support ( su*       
petition & any det]m9ation or o!r       
docum5t issu$ by ! ,int]nal ,rev5ue     
,s]vice ) respect to su* petition1 %all 
be op5 to public inspection at !        

national (fice ( ! ,int]nal ,rev5ue     
,s]vice4  7b7 ,inspection ( annual      
in=mation returns ,! in=mation requir$  
to be furni%$ by section #fjcc;,a1      
toge!r ) ! names & addresses ( su*      
entity1 %all be made available to !     
public at su* times & 9 su* places z !  
,secret>y may prescribe4  7c7 ,public   
inspection ( petitions & annual         
in=mation returns ,any entity t receives
 a det]m9ation f ! ,int]nal ,rev5ue     
,s]vice t private f\ndation inve/m5ts   
%all be program-relat$ inve/m5ts        
pursuant to section #didd7;c77#c7 %all  
make copies available at !              
organization's pr9cipal (fice1 dur+     
regul> bus9ess h\rs1 ( ! petition = su* 
det]m9ation 7toge!r ) support+ mat]ials 
provid$ ) ! petition & docum5ts issu$ by
 ! ,int]nal ,rev5ue ,s]vice ) respect to
 su* petition71 z well z ! annual       
returns requir$ by section #fjcc;,a fil$
 by su* organization4 ,^u reque/ ( an   
individual made at su* pr9cipal (fice1  
copies ( su* petition mat]ials & annual 

reports %all be provid$ to su*          
individual )\t *>ge o!r ?an a reasonable
 fee = any reproduction & mail+ co/s4 ,!
 inspection & duplication rights grant$ 
9 ?is subsection %all apply to an annual
 return only dur+ ! ?ree-ye> p]iod      
beg9n+ on ! la/ day prescrib$ = fil+ su*
 return 7det]m9$ ) reg>d to any ext5sion
 ( "t = fil+74  7d7 ,limitation on      
provid+ copies ,p>agraph 7c7 %all n     
apply to any reque/ if1 9 accordance )  
regulations promulgat$ by ! ,secret>y1 !
 entity has made ! reque/$ docum5ts     
widely available1 or ! ,secret>y        
det]m9es1 ^u application by an entity1 t
 su* reque/ is "p ( a h>assm5t campaign 
& t compliance ) su* reque/ is n 9 !    
public int]e/4  4  #aje4 ,con=m+        
am5dm5ts  7a7 ,con=m+ *ange to section  
#eja7n7 ,p>agraph 7#d77;,a7 ( section   
#eja7n7 ( ! ,int]nal ,rev5ue ,code (    
#aihf is am5d$ by ins]t+ p>agraph 7#b7 (
 be=e section #didd7;c74  7b7 ,con=m+   
*ange to section #ead7;b7 ,p>agraph 7#a7
 ( section #ead7;b7 ( ! ,int]nal ,rev5ue

 ,code ( #aihf is am5d$ by r$esignat+   
subp>agraphs 7,d7 & 7,e7 z subp>agraphs 
7,e7 & 7,f7 & by ins]t+ aft] subp>agraph
 7,c7 ! foll[+ new subp>agraph3  7,d7   
any prop]ty own$ or treat$ z own$ by a  
private f\ndation by virtue ( its hav+  
made an inve/m5t 9 an entity t has      
receiv$ a det]m9ation f ! ,int]nal      
,rev5ue ,s]vice pursuant to section     
#didd7;c77#c71 or by a c\rt pursuant to 
section #gdbh7;a71 t su* inve/m5ts 9 su*
 entity qualify z program-relat$        
inve/m5ts2  4  7c7 ,con=m+ *ange to     
section #didc7;d7 ,p>agraph 7#c7 (      
section #didc7;d7 ( ! ,int]nal ,rev5ue  
,code ( #aihf is am5d$ by /rik+ or at ! 
end ( subp>agraph 7,a71 by r$esignat+   
subp>agraph 7,b7 z subp>agraph 7,c7 & by
 ins]t+ aft] subp>agraph 7,a7 ! foll[+  
new subp>agraph3  7,b7 any              
program-relat$ inve/m5t1 z def9$ 9      
section #didd7;c77#b71 or  4  #ajf4     
,regulations ,! ,secret>y ( ! ,treasury 
%all1 n lat] ?an #a ye> aft] ! date ( ! 
enactm5t ( ?is ,act1 am5d any applicable

 regulations z may be necess>y or       
appropriate to implem5t any am5dm5ts    
conta9$ 9 ?is subtitle or to c>ry out ! 
purposes ( ?is subtitle1 includ+ provid+
 additional examples ( qualify+         
program-relat$ inve/m5ts4  #ajg4        
,effective date ,! am5dm5ts made by ?is 
subtitle %all apply to inve/m5ts made   
aft] ! date ( ! enactm5t ( ?is ,act 9   
taxable ye>s end+ aft] su* date4  ,b    
,rebuild+ ,rural ,ma9 ,/reet  #aaa4 ,tax
 cr$its = r$uction ( lead1 radon1 &     
asbe/os haz>ds 9 rural comm]cial        
/ructures  7a7 ,9 g5]al ,subp>t ,d ( "p 
,,iv ( sub*apt] ,a ( *apt] #a ( !       
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by add+ at ! end ! foll[+ new sections3 
#de,s4 ,lead haz>d r$uction activity    
7a7 ,all[ance ( cr$it ,!re %all be all[$
 z a cr$it aga9/ ! tax impos$ by ?is    
*apt] = ! taxable ye> an am\nt equal to 
#aj p]c5t ( ! lead haz>d r$uction       
activity co/ paid or incurr$ by !       
taxpay] dur+ ! taxable ye> = ea*        
eligible comm]cial /ructure4  7b7       

,limitation ,! am\nt ( ! cr$it all[$ "u 
subsection 7a7 = any eligible comm]cial 
/ructure = any taxable ye> %all n exce$ 
#a1jjj4  7c7 ,def9itions ,= purposes (  
?is section3  7#a7 ,c]tifi$ lead        
abatem5t sup]visor ,! t]m c]tifi$ lead  
abatem5t sup]visor means an individual  
c]tifi$ by ! ,environm5tal ,protection  
,ag5cy pursuant to section #gde4bbf (   
title #dj1 ,code ( ,f$]al ,regulations1 
or an appropriate ,/ate ag5cy pursuant  
to section #gde4cbe ( title #dj1 ,code (
 ,f$]al ,regulations4  7#b7 ,c]tifi$    
inspector ,! t]m c]tifi$ inspector means
 an inspector c]tifi$ by ! ,environm5tal
 ,protection ,ag5cy pursuant to section 
#gde4bbf ( title #dj1 ,code ( ,f$]al    
,regulations1 or an appropriate ,/ate   
ag5cy pursuant to section #gde4cbe (    
title #dj1 ,code ( ,f$]al ,regulations4 
7#c7 ,c]tifi$ risk assessor ,! t]m      
c]tifi$ risk assessor means a risk      
assessor c]tifi$ by ! ,environm5tal     
,protection ,ag5cy pursuant to section  
#gde4bbf ( title #dj1 ,code ( ,f$]al    

,regulations1 or an appropriate ,/ate   
ag5cy pursuant to section #gde4cbe (    
title #dj1 ,code ( ,f$]al ,regulations4 
7#d7 ,eligible comm]cial /ructure  ,!   
t]m eligible comm]cial /ructure means1 )
 respect to any taxable ye>1 any build+ 
:i* is--  7,a7 )9 ! scope ( ,/&>d       
#ij4a-bjjg 7z def9$ 9 section           
#agi7;c77#b771  7,b7 plac$ 9 s]vice be=e
 #bjjb1 &  7,c7 locat$ 9 a rural r5ewal 
community 7z def9$ 9 section            
#de;,d7f77#d77;,c774  7#e7 ,lead haz>d  
r$uction activity co/  7,a7 ,9 g5]al ,! 
t]m lead haz>d r$uction activity co/    
means1 ) respect to any eligible        
comm]cial /ructure--  7i7 ! co/ = a     
c]tifi$ risk assessor to conduct an     
assessm5t to det]m9e ! pres5ce ( lead   
pipes or a lead-bas$ pa9t haz>d1  7ii7 !
 co/ = p]=m+ lead abatem5t measures by a
 c]tifi$ lead abatem5t sup]visor1       
includ+ ! removal ( lead pipes1 !       
removal ( pa9t & du/1 ! p]man5t         
enclosure or encapsulation ( lead-bas$  
pa9t1 ! replacem5t ( pa9t$ surfaces1    

w9d[s1 or fixtures1 or ! removal or     
p]man5t cov]+ ( soil :5 lead-bas$ pa9t  
haz>ds are pres5t 9 su* pa9t1 du/1 or   
soil1 &  7iii7 ! co/ = a c]tifi$ lead   
abatem5t sup]visor1 ^? work+ "u !       
sup]vision ( su* sup]visor1 or a        
qualifi$ contractor to p]=m all         
prep>ation1 cleanup1 disposal1 &        
cle>ance te/+ activities associat$ ) !  
lead abatem5t measures4  7,b7           
,limitations  7i7 ,o!r fund+ ,! t]m lead
 haz>d r$uction activity co/ does n     
include any co/ to ! ext5t su* co/ is   
fund$ by any grant1 contract1 or o!rwise
 by ano!r p]son or any gov]nm5tal ag5cy4
  7ii7 ,initial co/s mu/ be incurr$ be=e
 #bjbj ,9 ! case ( an eligible comm]cial
 /ructure = :i* no significant lead     
haz>d r$uction activity co/ has be5     
incurr$ be=e ,janu>y #a1 #bjbj1 ! t]m   
lead haz>d r$uction activity co/ %all n 
include any co/ paid or incurr$ on or   
aft] su* date4  7#f7 ,lead-bas$ pa9t    
haz>d ,! t]m lead-bas$ pa9t haz>d has ! 
mean+ giv5 su* t]m by section #gde4fc ( 

title #dj1 ,code ( ,f$]al ,regulations4 
7#g7 ,qualifi$ contractor ,! t]m        
qualifi$ contractor means a ,lead-,safe 
,c]tifi$ ,firm or c]tifi$ r5ovator "u ! 
,lead ,r5ovation1 ,repair & ,pa9t+      
,program ( ! ,environm5tal ,protection  
,ag5cy4  7d7 ,special rules  7#a7       
,docum5tation requir$ = cr$it all[ance  
,no cr$it %all be all[$ "u subsection   
7a7 ) respect to any eligible comm]cial 
/ructure = any taxable ye> unless--     
7,a7 aft] lead haz>d r$uction activity  
is complete1 a c]tifi$ inspector or     
c]tifi$ risk assessor provides writt5   
docum5tation to ! taxpay] t includes--  
7i7 evid5ce t ! eligible comm]cial      
/ructure meets lead haz>d evaluation    
crit]ia e/abli%$ by ! ,environm5tal     
,protection ,ag5cy or "u an au?oriz$    
,/ate or local program1 &  7ii7         
docum5tation %[+ t ! lead haz>d r$uction
 activity meets ! requirem5ts ( ?is     
section1 &  7,b7 ! taxpay] files ) !    
appropriate ,/ate ag5cy & atta*es to !  
tax return = ! taxable ye>--  7i7 !     

docum5tation describ$ 9 subp>agraph     
7,a71  7ii7 docum5tation ( ! lead haz>d 
r$uction activity co/s paid or incurr$  
dur+ ! taxable ye> ) respect to !       
eligible comm]cial /ructure1 &  7iii7 a 
/atem5t c]tify+ t ! comm]cial /ructure  
qualifies z an eligible comm]cial       
/ructure = su* taxable ye>4  7#b7 ,basis
 r$uction ,! basis ( any prop]ty = :i* a
 cr$it is all[able "u subsection 7a7    
%all be r$uc$ by ! am\nt ( su* cr$it4   
7#c7 ,no d\ble b5efit ,any d$uction     
all[able = co/s tak5 into acc\nt 9      
comput+ ! am\nt ( ! cr$it = lead-bas$   
pa9t abatem5t %all be r$uc$ by ! am\nt (
 su* cr$it attributable to su* co/s4    
#de,t4 ,radon haz>d r$uction activity   
7a7 ,all[ance ( cr$it ,!re %all be all[$
 z a cr$it aga9/ ! tax impos$ by ?is    
*apt] = ! taxable ye> an am\nt equal to 
#aj p]c5t ( ! radon haz>d r$uction      
activity co/ paid or incurr$ by !       
taxpay] dur+ ! taxable ye> = ea*        
eligible comm]cial /ructure4  7b7       
,limitation ,! am\nt ( ! cr$it all[$ "u 

subsection 7a7 = any eligible comm]cial 
/ructure = any taxable ye> %all n exce$ 
#a1jjj4  7c7 ,def9itions ,= purposes (  
?is section3  7#a7 ,eligible comm]cial  
/ructure  ,! t]m eligible comm]cial     
/ructure means1 ) respect to any taxable
 ye>1 any build+ :i* is--  7,a7 )9 !    
scope ( ,/&>d #ij4a-bjjg 7z def9$ 9     
section #agi7;c77#b771  7,b7 plac$ 9    
s]vice be=e #bjjb1 &  7,c7 locat$ 9 a   
rural r5ewal community 7z def9$ 9       
section #de;,d7f77#d77;,c774  7#b7      
,qualifi$ radon measurem5t pr(essional  
,! t]m qualifi$ radon measurem5t        
pr(essional means an individual :o has  
demon/rat$ ! m9imum degree ( appropriate
 te*nical k & skills specific to radon  
measurem5t 9 con=mance ) ! requirem5ts  
(--  7,a7 a c]tification /&>d promulgat$
 by ! ,am]ican ,national ,/&>ds         
,in/itute or ,int]national ,organization
 = ,/&>dization1  7,b7 a ,/ate1 local or
 o!r gov]nm5tal lic5s+ 7or equival5t7   
program1 or  7,c7 any o!r recogniz$ or  
accr$it$ c]tification process z det]m9$ 

by ! ,secret>y4  7#c7 ,qualifi$ radon   
mitigation pr(essional ,! t]m qualifi$  
radon mitigation pr(essional means an   
individual :o has demon/rat$ ! m9imum   
degree ( appropriate te*nical k & skills
 specific to radon mitigation 9         
con=mance ) ! requirem5ts (--  7,a7 a   
c]tification /&>d promulgat$ by !       
,am]ican ,national ,/&>ds ,in/itute or  
,int]national ,organization =           
,/&>dization1  7,b7 a ,/ate1 local or   
o!r gov]nm5tal lic5s+ 7or equival5t7    
program1 or  7,c7 any o!r recogniz$ or  
accr$it$ c]tification process z det]m9$ 
by ! ,secret>y4  7#d7 ,radon ,! t]m     
radon has ! mean+ giv5 ! t]m 9 section  
#cjb ( ! ,toxic ,sub/ances ,control ,act
 7#ae ,u4,s4,c4 #bffb74  7#e7 ,radon    
haz>d r$uction activity co/  7,a7 ,9    
g5]al ,! t]m radon haz>d r$uction       
activity co/ means1 ) respect to any    
eligible comm]cial /ructure--  7i7 ! co/
 = a qualifi$ radon measurem5t          
pr(essional to conduct an assessm5t to  
det]m9e ! indoor radon level ( !        

comm]cial /ructure1 &  7ii7 if ! indoor 
radon level ( ! comm]cial /ructure is n 
less ?an #b picocuries p] lit] ( air1 z 
det]m9$ by a qualifi$ radon measurem5t  
pr(essional1 ! co/ = p]=m+ radon        
abatem5t measures by a qualifi$ radon   
mitigation pr(essional4  7,b7           
,limitations  7i7 ,o!r fund+ ,! t]m     
radon haz>d r$uction activity co/ does n
 include any co/ to ! ext5t su* co/ is  
fund$ by any grant1 contract1 or o!rwise
 by ano!r p]son or any gov]nm5tal ag5cy4
  7ii7 ,initial co/s mu/ be incurr$ be=e
 #bjbj ,9 ! case ( an eligible comm]cial
 /ructure = :i* no significant radon    
haz>d r$uction activity co/ has be5     
incurr$ be=e ,janu>y #a1 #bjbj1 ! t]m   
radon haz>d r$uction activity co/ %all n
 include any co/ paid or incurr$ on or  
aft] su* date4  7d7 ,special rules  7#a7
 ,docum5tation requir$ = cr$it all[ance 
,no cr$it %all be all[$ "u subsection   
7a7 ) respect to any eligible comm]cial 
/ructure = any taxable ye> unless--     
7,a7 aft] radon haz>d r$uction activity 

is complete1 a qualifi$ radon measurem5t
 pr(essional provides writt5            
docum5tation to ! taxpay] t includes--  
7i7 evid5ce t ! eligible comm]cial      
/ructure meets radon haz>d evaluation   
crit]ia e/abli%$ "u an au?oriz$ ,/ate or
 local program1 &  7ii7 docum5tation %[+
 t ! radon haz>d r$uction activity meets
 ! requirem5ts ( ?is section1 &  7,b7 ! 
taxpay] files ) ! appropriate ,/ate     
ag5cy & atta*es to ! tax return = !     
taxable ye>--  7i7 ! docum5tation       
describ$ 9 subp>agraph 7,a71  7ii7      
docum5tation ( ! radon haz>d r$uction   
activity co/s paid or incurr$ dur+ !    
taxable ye> ) respect to ! eligible     
comm]cial /ructure1 &  7iii7 a /atem5t  
c]tify+ t ! comm]cial /ructure qualifies
 z an eligible comm]cial /ructure = su* 
taxable ye>4  7#b7 ,basis r$uction ,!   
basis ( any prop]ty = :i* a cr$it is    
all[able "u subsection 7a7 %all be r$uc$
 by ! am\nt ( su* cr$it4  7#c7 ,no d\ble
 b5efit ,any d$uction all[able = co/s   
tak5 into acc\nt 9 comput+ ! am\nt ( !  

cr$it = radon abatem5t %all be r$uc$ by 
! am\nt ( su* cr$it attributable to su* 
co/s4  #de,u4 ,asbe/os haz>d r$uction   
activity  7a7 ,all[ance ( cr$it ,!re    
%all be all[$ z a cr$it aga9/ ! tax     
impos$ by ?is *apt] = ! taxable ye> an  
am\nt equal to #aj p]c5t ( ! asbe/os    
haz>d r$uction activity co/ paid or     
incurr$ by ! taxpay] dur+ ! taxable ye> 
= ea* eligible comm]cial /ructure4  7b7 
,limitation ,! am\nt ( ! cr$it all[$ "u 
subsection 7a7 = any eligible comm]cial 
/ructure = any taxable ye> %all n exce$ 
#a1jjj4  7c7 ,def9itions ,= purposes (  
?is section3  7#a7 ,accr$it$ asbe/os    
abatem5t contractor or sup]visor ,! t]m 
accr$it$ asbe/os abatem5t contractor or 
sup]visor means any p]son accr$it$ z a  
contractor or sup]visor "u ! ,asbe/os   
,model ,accr$itation ,plan ( !          
,environm5tal ,protection ,ag5cy4  7#b7 
,accr$it$ asbe/os inspector ,! t]m      
accr$it$ asbe/os inspector means any    
p]son accr$it$ z an inspector "u !      
,asbe/os ,model ,accr$itation ,plan ( ! 

,environm5tal ,protection ,ag5cy4  7#c7 
,asbe/os ,! t]m asbe/os has ! mean+ giv5
 ! t]m 9 section #bjb ( ! ,toxic        
,sub/ances ,control ,act 7#ae ,u4,s4,c4 
#bfdb74  7#d7 ,asbe/os haz>d ,! t]m     
asbe/os haz>d has ! mean+ giv5 ! t]m    
imm95t haz>d to ! heal? & safety 9      
section #aa ( ! ,asbe/os ,s*ool ,haz>d  
,detection & ,control ,act ( #aihj 7#bj 
,u4,s4,c4 #cfaj74  7#e7 ,asbe/os haz>d  
r$uction activity co/  7,a7 ,9 g5]al ,! 
t]m asbe/os haz>d r$uction activity co/ 
means1 ) respect to any eligible        
comm]cial /ructure--  7i7 ! co/ = an    
accr$it$ asbe/os inspector to conduct an
 assessm5t to det]m9e ! pres5ce ( a     
asbe/os haz>d1  7ii7 ! co/ = p]=m+      
asbe/os abatem5t measures by an accr$it$
 asbe/os abatem5t contractor or         
sup]visor1  7iii7 ! co/ = p]=m+ int]im  
asbe/os control measures to r$uce       
exposure or likely exposure to asbe/os  
haz>ds1 b only if su* measures are      
evaluat$ & complet$ by an accr$it$      
asbe/os abatem5t contractor or sup]visor

 us+ accept$ me?ods1 are conduct$ by an 
accr$it$ asbe/os abatem5t contractor or 
sup]visor1 & h an expect$ useful life ( 
m ?an #aj ye>s1 &  7iv7 ! co/ = an      
accr$it$ asbe/os abatem5t sup]visor1 ^? 
work+ "u ! sup]vision ( su* sup]visor1  
or an accr$it$ asbe/os abatem5t         
contractor or sup]visor to p]=m all     
prep>ation1 cleanup1 disposal1 &        
cle>ance te/+ activities associat$ ) !  
asbe/os abatem5t measures or int]im     
asbe/os control measures4  7,b7         
,limitations  7i7 ,o!r fund+ ,! t]m     
asbe/os haz>d r$uction activity co/ does
 n include any co/ to ! ext5t su* co/ is
 fund$ by any grant1 contract1 or       
o!rwise by ano!r p]son or any gov]nm5tal
 ag5cy4  7ii7 ,initial co/s mu/ be      
incurr$ be=e #bjbj ,9 ! case ( an       
eligible comm]cial /ructure = :i* no    
significant asbe/os haz>d r$uction      
activity co/ has be5 incurr$ be=e       
,janu>y #a1 #bjbj1 ! t]m asbe/os haz>d  
r$uction activity co/ %all n include any
 co/ paid or incurr$ on or aft] su*     

date4  7#f7 ,eligible comm]cial /ructure
  ,! t]m eligible comm]cial /ructure    
means1 ) respect to any taxable ye>1 any
 build+ :i* is--  7,a7 )9 ! scope (     
,/&>d #ij4a-bjjg 7z def9$ 9 section     
#agi7;c77#b771  7,b7 plac$ 9 s]vice be=e
 #bjjb1 &  7,c7 locat$ 9 a rural r5ewal 
community 7z def9$ 9 section            
#de;,d7f77#d77;,c774  7d7 ,special rules
  7#a7 ,docum5tation requir$ = cr$it    
all[ance ,no cr$it %all be all[$ "u     
subsection 7a7 ) respect to any eligible
 comm]cial /ructure = any taxable ye>   
unless--  7,a7 aft] asbe/os haz>d       
r$uction activity is complete1 an       
accr$it$ asbe/os inspector provides     
writt5 docum5tation to ! taxpay] t      
includes--  7i7 evid5ce t ! eligible    
comm]cial /ructure meets asbe/os haz>d  
evaluation crit]ia e/abli%$ "u an       
au?oriz$ ,/ate or local program1 &  7ii7
 docum5tation %[+ t ! asbe/os haz>d     
r$uction activity meets ! requirem5ts ( 
?is section1 &  7,b7 ! taxpay] files ) !
 appropriate ,/ate ag5cy & atta*es to ! 

tax return = ! taxable ye>--  7i7 !     
docum5tation describ$ 9 subp>agraph     
7,a71  7ii7 docum5tation ( ! asbe/os    
haz>d r$uction activity co/s paid or    
incurr$ dur+ ! taxable ye> ) respect to 
! eligible comm]cial /ructure1 &  7iii7 
a /atem5t c]tify+ t ! comm]cial /ructure
 qualifies z an eligible comm]cial      
/ructure = su* taxable ye>4  7#b7 ,basis
 r$uction ,! basis ( any prop]ty = :i* a
 cr$it is all[able "u subsection 7a7    
%all be r$uc$ by ! am\nt ( su* cr$it4   
7#c7 ,no d\ble b5efit ,any d$uction     
all[able = co/s tak5 into acc\nt 9      
comput+ ! am\nt ( ! cr$it = asbe/os     
abatem5t %all be r$uc$ by ! am\nt ( su* 
cr$it attributable to su* co/s4  4  7b7 
,te*nical am5dm5ts  7#a7 ,section       
#ch7;b7 is am5d$-- 7,a7 9 p>agraph      
7#ce71 by /rik+ plus at ! end1  7,b7 9  
p>agraph 7#cf71 by /rik+ ! p]iod at !   
end & ins]t+ a comma1 &  7,c7 by add+ at
 ! end ! foll[+ new p>agraphs3  7#cg7 ! 
lead haz>d r$uction activity cr$it      
det]m9$ "u section #de,s7a71  7#ch7 !   

radon haz>d r$uction activity cr$it     
det]m9$ "u section #de,t7a71 plus  7#ci7
 ! asbe/os haz>d r$uction activity cr$it
 det]m9$ "u section #de,u7a74  4  7#b7  
,! table ( sections = subp>t ,d ( "p    
,,iv ( sub*apt] ,a ( *apt] #a is am5d$  
by add+ at ! end ! foll[+ new items3    
,sec4 #de,s4 ,lead haz>d r$uction       
activity4,sec4 #de,t4 ,radon haz>d      
r$uction activity4,sec4 #de,u4 ,asbe/os 
haz>d r$uction activity4  4  7c7        
,effective date ,! am5dm5ts made by ?is 
section %all apply to co/s incurr$ aft] 
,decemb] #ca1 #bjaf1 9 taxable ye>s end+
 aft] t date4  ,c ,r5ew+ rural ,am]ica  
#aba4 ,additional new m>kets tax cr$it =
 rural r5ewal communities  7a7          
,allocations designat$ = rural r5ewal   
,section #de;,d7f7 ( ! ,int]nal ,rev5ue 
,code ( #aihf is am5d$ by add+ at ! end 
! foll[+ new p>agraph3  7#d7 ,additional
 limitation = rural r5ewal communities  
7,a7 ,9 g5]al ,! new m>kets tax cr$it   
limitation o!rwise det]m9$ "u p>agraph  
7#a7 %all be increas$ by #c1ejj1jjj1jjj 

= #bjag1 #bjah1 & #bjai4 ,a qualifi$    
community developm5t entity %all be     
eligible = an allocation "u p>agraph    
7#b7 ( ! increase describ$ 9 ! prec$+   
s5t5ce only if a significant mission (  
su* entity is s]v+1 or provid+ inve/m5t 
capital =1 rural r5ewal communities4    
7,b7 ,application ( c>ryov] ,p>agraph   
7#c7 %all be appli$ sep>ately ) respect 
to ! increase provid$ "u ?is p>agraph4  
7,c7 ,rural r5ewal community ,= purposes
 ( ?is p>agraph1 ! t]m rural r5ewal     
community means any l[-income           
community-- 7i7 :i*--  7,i7 has a       
population ( at lea/ #bjj p b n m ?an   
#be1jjj p1 &  7,,ii7 is n locat$ 9 a    
metropolitan area :i* has a population (
 #bjj1jjj or m1 or  7ii7 :i* is entirely
 )9 an ,indian res]vation 7z det]m9$ by 
! ,secret>y ( ! ,int]ior74  4  7b7      
,effective date ,! am5dm5t made by ?is  
section %all apply to cal5d> ye>s beg9n+
 aft] ,decemb] #ca1 #bjaf4  ,d ,job     
creator cr$its  #aca4 ,exp5s+ = rural   
r5ewal community bus9esses  7a7 ,9 g5]al

 ,"p ,,iv ( sub*apt] ,b ( *apt] #a ( !  
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by ins]t+ aft] section #agi;,e ! foll[+ 
new section3  #agi;,f4 ,exp5s+ = rural  
r5ewal community bus9esses  7a7 ,9 g5]al
 ,a rural r5ewal community bus9ess may  
elect to treat ! co/ ( any qualifi$     
prop]ty z prop]ty :i* is n *>geable to  
capital acc\nt4 ,any co/ s treat$ %all  
be all[$ z a d$uction = ! taxable ye> 9 
:i* ! qualifi$ prop]ty is plac$ 9       
s]vice4  7b7 ,qualifi$ prop]ty ,=       
purposes ( ?is section1 ! t]m qualifi$  
prop]ty means prop]ty-- 7#a7 :i* is--   
7,a7 tangible prop]ty 7to :i* section   
#afh applies71 or  7,b7 comput] s(tw>e  
7z def9$ 9 section #aig7;e77#c77;,b77   
:i* is describ$ 9 section               
#aig7;e77#c77;,a77i7 & to :i* section   
#afg applies1  7#b7 :i* is section #abde
 prop]ty 7z def9$ 9 section             
#abde7;a77#c771 &  7#c7 :i* is acquir$  
by pur*ase 7z def9$ 9 section           
#agi7;d77#b77 = use 9 ! active conduct (
 a trade or bus9ess4  ,su* t]m %all n   

include any prop]ty describ$ 9 section  
#ej7;b74  7c7 ,rural r5ewal community   
bus9ess ,= purposes ( ?is section-- 7#a7
 ,9 g5]al ,! t]m rural r5ewal community 
bus9ess means--  7,a7 any rural r5ewal  
community bus9ess entity1 &  7,b7 any   
rural r5ewal community proprietor%ip4   
7#b7 ,rural r5ewal community bus9ess    
entity ,! t]m rural r5ewal community    
bus9ess entity means1 ) respect to any  
taxable ye>1 any corporation or p>tn]%ip
 if = su* ye>-- 7,a7 e trade or bus9ess 
( su* entity is ! active conduct ( a    
qualifi$ bus9ess )9 a rural r5ewal      
community1  7,b7 at lea/ #ej p]c5t ( !  
total gross income ( su* entity is d]iv$
 f ! active conduct ( su* bus9ess1  7,c7
 a sub/antial portion ( ! use ( !       
tangible prop]ty ( su* entity 7:e!r own$
 or leas$7 is )9 an rural r5ewal        
community1  7,d7 a sub/antial portion ( 
! intangible prop]ty ( su* entity is us$
 9 ! active conduct ( any su* bus9ess1  
7,e7 a sub/antial portion ( ! s]vices   
p]=m$ = su* entity by its employees are 

p]=m$ 9 a rural r5ewal community1  7,f7 
at lea/ #ce p]c5t ( its employees are   
resid5ts ( a rural r5ewal community1    
7,g7 less ?an #e p]c5t ( ! av]age ( !   
aggregate unadju/$ bases ( ! prop]ty (  
su* entity is attributable to           
collectibles 7z def9$ 9 section         
#djh7m77#b77 o!r ?an collectibles t are 
held prim>ily = sale to cu/om]s 9 !     
ord9>y c\rse ( su* bus9ess1 &  7,h7 less
 ?an #e p]c5t ( ! av]age ( ! aggregate  
unadju/$ bases ( ! prop]ty ( su* entity 
is attributable to nonqualifi$ f9ancial 
prop]ty 7z def9$ 9 section #acig;,c7e774
  7#c7 ,rural r5ewal community          
proprietor%ip ,! t]m rural r5ewal       
community proprietor%ip means1 ) respect
 to any taxable ye>1 any qualifi$       
bus9ess c>ri$ on by an individual z a   
proprietor%ip if = su* ye>--  7,a7 at   
lea/ #ej p]c5t ( ! total gross income ( 
su* individual f su* bus9ess is d]iv$ f 
! active conduct ( su* bus9ess 9 a rural
 r5ewal community1  7,b7 a sub/antial   
portion ( ! use ( ! tangible prop]ty (  

su* individual 9 su* bus9ess 7:e!r own$ 
or leas$7 is )9 a rural r5ewal          
community1  7,c7 a sub/antial portion ( 
! intangible prop]ty ( su* bus9ess is   
us$ 9 ! active conduct ( su* bus9ess1   
7,d7 a sub/antial portion ( ! s]vices   
p]=m$ = su* individual 9 su* bus9ess by 
employees ( su* bus9ess are p]=m$ 9 a   
rural r5ewal community1  7,e7 at lea/   
#ce p]c5t ( su* employees are resid5ts (
 a rural r5ewal community1  7,f7 less   
?an #e p]c5t ( ! av]age ( ! aggregate   
unadju/$ bases ( ! prop]ty ( su*        
individual :i* is us$ 9 su* bus9ess is  
attributable to collectibles 7z def9$ 9 
section #djh7m77#b77 o!r ?an            
collectibles t are held prim>ily = sale 
to cu/om]s 9 ! ord9>y c\rse ( su*       
bus9ess1 &  7,g7 less ?an #e p]c5t ( !  
av]age ( ! aggregate unadju/$ bases ( ! 
prop]ty ( su* individual :i* is us$ 9   
su* bus9ess is attributable to          
nonqualifi$ f9ancial prop]ty4  ,=       
purposes ( ?is p>agraph1 ! t]m employee 
includes ! proprietor4  7#d7 ,rural     

r5ewal community ,! t]m rural r5ewal    
community has ! mean+ giv5 su* t]m "u   
section #de;,d7f77#d77;,c74  7#e7       
,treatm5t ( bus9esses /raddl+ c5sus     
tract l9es ,= purposes ( p>agraphs 7#b7 
& 7#c71 rules simil> to ! rules (       
section #acig;,c7f7 %all apply4  7d7    
,special rules ,= purposes ( ?is        
section-- 7#a7 ,co/ ,rules simil> to !  
rules ( section #agi7;d77#c7 %all apply4
  7#b7 ,recapture ,rules simil> to !    
rules ( section #agi7;d77#aj7 %all      
apply4  7e7 ,t]m9ation ,?is section %all
 n apply to prop]ty plac$ 9 s]vice aft] 
,decemb] #ca1 #bjai4  4  7b7 ,con=m+    
am5dm5ts  7#a7 ,section #bfc7;a77#a7 ( !
 ,int]nal ,rev5ue ,code ( #aihf is am5d$
 by /rik+ or at ! end ( subp>agraph     
7,k71 by /rik+ ! p]iod at ! end (       
subp>agraph 7,l7 & ins]t+ 1 or1 & by    
add+ at ! end ! foll[+ new subp>agraph3 
7,m7 exp5ditures = :i* a d$uction is    
all[$ "u section #agi;,f4  4  7#b7      
,subp>agraph 7,b7 ( section #cab7k77#c7 
is am5d$ by /rik+ or #agi;,e ea* places 

x appe>s & ins]t+ #agi;,e1 or #agi;,f4  
7#c7 ,p>agraphs 7#b77;,c7 & 7#c77;,c7 ( 
section #abde7;a7 ( su* ,code are ea*   
am5d$ by ins]t+ #agi;,f1 aft] #agi;,e14 
7#d7 ,! table ( cont5ts = "p ,,vi (     
sub*apt] ,b ( *apt] #a ( su* ,code is   
am5d$ by ins]t+ aft] ! item relat+ to   
section #agi;,e ! foll[+ new item3      
,sec4 #agi;,f4 ,exp5s+ = rural r5ewal   
community bus9esses4  4  7c7 ,effective 
date ,! am5dm5ts made by ?is section    
%all apply to prop]ty plac$ 9 s]vice    
aft] ,decemb] #ca1 #bjaf4  #acb4 ,r$uc$ 
payroll taxes = individuals & bus9esses 
9 rural r5ewal communities  7a7 ,9      
,g5]al  7#a7 ,employees ,9 ! case (     
employm5t dur+ #bjag1 #bjah1 & #bjai1 ! 
rate ( tax "u #caja7;a7 ( ! ,int]nal    
,rev5ue ,code ( #aihf 7includ+ =        
purposes ( det]m9+ ! applicable p]c5tage
 "u sections #cbja7;a7 & #cbaa7;a77#a7 (
 su* ,code7 %all be #d4b p]c5t = any    
remun]ation receiv$ dur+ any p]iod 9 :i*
 ! individual's pr9cipal resid5ce 7)9 ! 
mean+ ( section #aba ( su* ,code7 is    

locat$ 9 a rural r5ewal community4  7#b7
 ,employ]s  7,a7 ,9 g5]al ,9 ! case (   
employm5t dur+ #bjag1 #bjah1 & #bjai1 ! 
rate ( tax "u section #caaa7;a7 ( !     
,int]nal ,rev5ue ,code ( #aihf 7includ+ 
= purposes ( det]m9+ ! applicable       
p]c5tage "u sections #cbba7;a7 ( su*    
,code7 = any rural r5ewal community     
bus9ess entity %all be #d4b p]c5t )     
respect to remun]ation paid = qualifi$  
s]vices4  7,b7 ,qualifi$ s]vices ,=     
purposes ( ?is section1 ! t]m qualifi$  
s]vices means s]vices p]=m$-- 7i7 9 a   
trade or bus9ess ( a rural r5ewal       
community bus9ess entity1 or  7ii7 9 !  
case ( a rural r5ewal community bus9ess 
entity exempt f tax "u section #eja7;a7 
( ! ,int]nal ,rev5ue ,code ( #aihf1 9   
fur!rance ( ! activities relat$ to !    
purpose or function con/itut+ ! basis ( 
! employ]'s exemption "u section #eja ( 
su* ,code4  7#c7 ,self-employ$          
individuals ,9 ! case ( self-employm5t  
income = taxable ye>s beg9n+ 9 #bjag1   
#bjah1 or #bjai :i* is attributable to a

 rural r5ewal community proprietor%ip1 !
 rate ( tax "u section #adja7;a7 %all be
 #h4dj p]c5t4  7b7 ,def9itions ,=       
purposes ( ?is section-- 7#a7 ,rural    
r5ewal community ,! t]m rural r5ewal    
community has ! mean+ giv5 su* t]m "u   
section #de;,d7f77#d77;,c7 ( ! ,int]nal 
,rev5ue ,code ( #aihf4  7#b7 ,rural     
r5ewal community bus9ess entity ,! t]m  
rural r5ewal community bus9ess entity   
has ! mean+ giv5 su* t]m "u section     
#agi;,f7c77#b7 ( ! ,int]nal ,rev5ue     
,code ( #aihf4  7#c7 ,rural r5ewal      
community proprietor%ip ,! t]m rural    
r5ewal community proprietor%ip has !    
mean+ giv5 su* t]m "u section           
#agi;,f7c77#c7 ( ! ,int]nal ,rev5ue     
,code ( #aihf4  7c7 ,transf]s ( ,funds  
7#a7 ,transf]s to f$]al old-age &       
survivors insurance tru/ fund ,!re are  
h]eby appropriat$ to ! ,f$]al ,old-,age 
& ,survivors ,tru/ ,fund & ! ,f$]al     
,disability ,insurance ,tru/ ,fund      
e/abli%$ "u section #bja ( ! ,social    
,security ,act 7#db ,u4,s4,c4 #dja7     

am\nts equal to ! r$uction 9 rev5ues to 
! ,treasury by reason ( ! application ( 
subsection 7a74 ,am\nts appropriat$ by !
 prec$+ s5t5ce %all be transf]r$ f !    
g5]al fund at su* times & 9 su* mann] z 
to replicate to ! ext5t possible !      
transf]s :i* w\ld h occurr$ to su* ,tru/
 ,fund _h su* am5dm5ts n be5 enact$4    
7#b7 ,transf]s to social security       
equival5t b5efit acc\nt ,!re are h]eby  
appropriat$ to ! ,social ,security      
,equival5t ,b5efit ,acc\nt e/abli%$ "u  
section #ae;,a7a7 ( ! ,railroad         
,retirem5t ,act ( #aigd 7#de ,u4,s4,c4  
#bcan-#a7;a77 am\nts equal to ! r$uction
 9 rev5ues to ! ,treasury by reason ( ! 
application ( p>agraphs 7#a7 & 7#b7 (   
subsection 7a74 ,am\nts appropriat$ by !
 prec$+ s5t5ce %all be transf]r$ f !    
g5]al fund at su* times & 9 su* mann] z 
to replicate to ! ext5t possible !      
transf]s :i* w\ld h occurr$ to su*      
,acc\nt _h su* am5dm5ts n be5 enact$4   
7#c7 ,coord9ation ) o!r f$]al laws ,=   
purposes ( apply+ any provision ( ,f$]al

 law o!r ?an ! provisions ( ! ,int]nal  
,rev5ue ,code ( #aihf1 ! rate ( tax 9   
effect "u section #caja7;a7 %all be     
det]m9$ )\t reg>d to ! r$uction 9 su*   
rate "u ?is section4  ,e ,enc\rag+ small
 bus9ess />t ups  #ada4 ,r5ewal         
community bus9ess />t-up sav+s acc\nts  
7a7 ,9 g5]al ,"p ,,viii ( sub*apt] ,b ( 
*apt] #a ( ! ,int]nal ,rev5ue ,code (   
#aihf is am5d$ by r$esignat+ section    
#bbd z section #bbe & ins]t+ aft]       
section #bbc ! foll[+ new section3      
#bbd4 ,r5ewal community bus9ess />t-up  
sav+s acc\nts  7a7 ,all[ance ( d$uction 
,9 ! case ( an individual1 !re %all be  
all[$ z a d$uction = ! taxable ye> an   
am\nt equal to am\nt ( contributions    
made to ! rural r5ewal community bus9ess
 />t-up sav+s acc\nt ( su* individual4  
7b7 ,rural r5ewal community bus9ess     
/>t-,up sav+s acc\nt ,! t]m rural r5ewal
 community bus9ess />t-up sav+s acc\nt  
means a tru/ creat$ or organiz$ 9 !     
,unit$ ,/ates exclusively = ! purpose ( 
pay+ ! eligible co/s ( ! individual :o  

is ! designat$ b5efici>y ( ! tru/ 7&    
designat$ z a r5ewal community bus9ess  
/>t-up sav+s acc\nt at ! "t creat$ or   
organiz$71 b only if ! writt5 gov]n+    
in/rum5t creat+ ! tru/ meets ! foll[+   
requirem5ts3  7#a7 ,except 9 ! case ( a 
rollov] contribution describ$ 9         
subsection 7d77#d71 no contribution w be
 accept$ unless x is 9 ca%1 &           
contributions w n be accept$ if su*     
contribution w\ld result 9 aggregate    
contributions to all rural r5ewal       
community bus9ess />t-up sav+s acc\nt ( 
! individual = su* taxable ye> & all    
prior taxable ye>s exce$+ #ej1jjj4  7#b7
 ,! tru/ee is a bank 7z def9$ 9 section 
#djh7n77 or su* o!r p]son :o demon/rates
 to ! satisfaction ( ! ,secret>y t !    
mann] 9 :i* su* o!r p]son w adm9i/] !   
tru/ w be consi/5t ) ! requirem5ts ( ?is
 section4  7#c7 ,no "p ( ! tru/ funds w 
be inve/$ 9 life insurance contracts4   
7#d7 ,! assets ( ! tru/ w n be comm+l$ )
 o!r prop]ty except 9 a common tru/ fund
 or common inve/m5t fund4  7c7 ,tax     

treatm5t ( acc\nts  7#a7 ,9 g5]al ,a    
rural r5ewal community bus9ess />t-up   
sav+s acc\nt %all be exempt f taxation  
"u ?is subtitle4 ,not)/&+ ! prec$+      
s5t5ce1 ! r5ewal community bus9ess      
/>t-up sav+s acc\nt %all be subject to !
 taxes impos$ by section #eaa 7relat+ to
 imposition ( tax on unrelat$ bus9ess   
income ( *>itable organizations74  7#b7 
,acc\nt t]m9ations ,rules simil> to !   
rules ( p>agraphs 7#b7 & 7#d7 ( section 
#djh7;e7 %all apply to rural r5ewal     
community bus9ess />t-up sav+s acc\nts1 
& any am\nt treat$ z di/ribut$ "u su*   
rules %all be treat$ z n us$ to pay =   
eligible co/s4  7d7 ,tax treatm5t (     
di/ributions  7#a7 ,qualifi$            
di/ributions  7,a7 ,9 g5]al ,any        
qualifi$ di/ribution f a rural r5ewal   
community bus9ess />t-up sav+s acc\nt   
%all n be includ$ 9 gross income4  7,b7 
,qualifi$ di/ribution ,= purposes ( ?is 
section1 ! t]m qualifi$ di/ribution     
means ! am\nt ( any paym5t or           
di/ribution made f a rural r5ewal       

community bus9ess />t-up sav+s acc\nt   
dur+ ! taxable ye> to ! ext5t t su*     
di/ribution does n exce$ ! less] (--    
7i7 ! eligible co/s paid or incurr$ by !
 taxpay] dur+ ! taxable ye> :i* are made
 n lat] ?an ! la/ day ( ! #e? taxable   
ye> beg9n+ aft] ! initial di/ribution f 
! acc\nt1 or  7ii7 #ej1jjj4  ,= purposes
 ( clause 7i71 a taxpay] %all be treat$ 
z hav+ paid or incurr$ ! taxpay]'s      
allocable %>e ( eligible co/s ( any     
entity 9 :i* ! taxpay] directly holds   
/ock or a capital or pr(its int]e/4     
7,c7 ,eligible co/s  7i7 ,9 g5]al ,=    
purposes ( ?is section1 ! t]m eligible  
co/s means co/s paid or incurr$ by !    
taxpay] ) respect to ! designat$ rural  
r5ewal community bus9ess ( ! taxpay] =  
op]at+ capital1 ! pur*ase ( equipm5t or 
facilities1 m>ket+1 tra9+1              
incorporation1 & acc\nt+ fees4  7ii7    
,designat$ rural r5ewal community       
bus9ess ,= purposes ( clause 7i71 ! t]m 
designat$ rural r5ewal community bus9ess
 means-- 7,i7 any rural r5ewal community

 bus9ess entity 7z def9$ 9 section      
#agi;,f7c77 9 :i* ! taxpay] is a        
%>ehold] or p>tn] & :i* is designat$ by 
! taxpay] = purposes ( ?is section1 or  
7,,ii7 any rural r5ewal community       
proprietor%ip ( :i* ! taxpay] is ! own] 
& :i* is designat$ by ! taxpay] =       
purposes ( ?is section4  ,any           
designation made "u ?is clause1 once    
made1 may n be revok$4  7,d7            
,disall[ance ( exclud$ am\nts z         
d$uction1 cr$it1 or exclusion ,no       
d$uction1 cr$it1 or exclusion %all be   
all[$ to ! taxpay] "u any o!r section ( 
?is *apt] = any qualifi$ di/ribution to 
! ext5t tak5 into acc\nt 9 det]m9+ !    
am\nt ( ! exclusion "u ?is p>agraph4    
7#b7 ,nonqualifi$ di/ributions  7,a7 ,9 
g5]al ,any am\nt paid or di/ribut$ out (
 a rural r5ewal community bus9ess />t-up
 sav+s acc\nt :i* is n a qualifi$       
di/ribution1 includ+ any am\nt paid out 
pursuant to a t]m9ation ( su* an acc\nt1
 %all be includ$ 9 ! gross income ( !   
taxpay] z provid$ 9 section #gb4  7,b7  

,treatm5t ( am\nts rema9+ 9 acc\nt ,any 
rema9+ am\nt 9 a small bus9ess />t-up   
sav+s acc\nt foll[+ ! date describ$ 9   
p>agraph 7#a77;,b77i7 %all be treat$ z  
di/ribut$ dur+ ! taxable ye> foll[+ su* 
date & su* di/ribution %all n be treat$ 
z a qualifi$ di/ribution4  7,c7         
,additional tax  7i7 ,9 g5]al ,! tax    
impos$ by ?is *apt] on ! acc\nt         
b5efici>y = any taxable ye> 9 :i* !re is
 a paym5t or di/ribution f a rural      
r5ewal community bus9ess />t-up sav+s   
acc\nt ( su* b5efici>y :i* is includible
 9 income "u subp>agraph 7,a7 %all be   
increas$ by #aj p]c5t ( ! am\nt :i* is s
 includible4  7ii7 ,exception ,clause   
7i7 %all n apply if ! paym5t or         
di/ribution is made aft] ! acc\nt       
b5efici>y becomes disabl$ )9 ! mean+ (  
section #gb7m77#g7 or dies4  7#c7       
,excess contributions return$ be=e due  
date ( return  7,a7 ,9 g5]al ,if any    
excess contribution is contribut$ = a   
taxable ye> to any rural r5ewal         
community bus9ess />t-up sav+s acc\nt ( 

an individual1 p>agraph 7#b7 %all n     
apply to di/ributions f ! rural r5ewal  
community bus9ess />t-up sav+s acc\nts (
 su* individual 7to ! ext5t su*         
di/ributions d n exce$ ! aggregate      
excess contributions to all su* acc\nts 
( su* individual = su* ye>7 if--  7i7   
su* di/ribution is receiv$ by !         
individual on or be=e ! la/ day         
prescrib$ by law 7includ+ ext5sions (   
"t7 = fil+ su* individual's return = su*
 taxable ye>1 &  7ii7 su* di/ribution is
 accompani$ by ! am\nt ( net income     
attributable to su* excess contribution4
  7,b7 ,excess contribution ,= purposes 
( subp>agraph 7,a71 ! t]m excess        
contribution means any contribution 7o!r
 ?an a rollov] contribution describ$ 9  
p>agraph 7#d77 :i* :5 add$ to all       
previ\s contributions = ! taxable ye>   
exce$s ! am\nt all[able z a contribution
 "u subsection 7b77#a74  7#d7 ,rollov]  
contribution ,p>agraph 7#b7 %all n apply
 to any am\nt paid or di/ribut$ f a     
rural r5ewal community bus9ess />t-up   

sav+s acc\nt to ! acc\nt b5efici>y to ! 
ext5t ! am\nt receiv$ is paid into a    
rural r5ewal community bus9ess />t-up   
sav+s acc\nt = ! b5efit ( su* b5efici>y 
n lat] ?an ! #fj? day aft] ! day on :i* 
! b5efici>y receives ! paym5t or        
di/ribution4 ,= purposes ( ?is p>agraph1
 rules simil> to ! rules ( section      
#djh7;d77#c77;,d7 %all apply4  7#e7     
,transf] ( acc\nt incid5t to divorce ,! 
transf] ( an individual's int]e/ 9 a    
rural r5ewal community bus9ess />t-up   
sav+s acc\nt to an individual's sp\se or
 =m] sp\se "u a divorce or sep>ation    
in/rum5t describ$ 9 subp>agraph 7,a7 (  
section #ga7;b77#b7 %all n be consid]$ a
 taxable transf] made by su* individual 
not)/&+ any o!r provision ( ?is         
subtitle1 & su* int]e/ %all1 aft] su*   
transf]1 be treat$ z a rural r5ewal     
community bus9ess />t-up sav+s acc\nt ) 
respect to :i* su* sp\se is ! acc\nt    
b5efici>y4  7#f7 ,treatm5t aft] dea? (  
acc\nt b5efici>y  7,a7 ,treatm5t if     
designat$ b5efici>y is sp\se ,if !      

acc\nt b5efici>y's surviv+ sp\se        
acquires su* b5efici>y's int]e/ 9 a     
rural r5ewal community bus9ess />t-up   
sav+s acc\nt by reason ( be+ ! designat$
 b5efici>y ( su* acc\nt at ! dea? ( !   
acc\nt b5efici>y1 su* acc\nt %all be    
treat$ z if ! sp\se 7 ! acc\nt          
b5efici>y4  7,b7 ,o!r cases  7i7 ,9     
g5]al ,if1 by reason ( ! dea? ( ! acc\nt
 b5efici>y1 any p]son acquires ! acc\nt 
b5efici>y's int]e/ 9 a rural r5ewal     
community bus9ess />t-up sav+s acc\nt 9 
a case to :i* subp>agraph 7,a7 does n   
apply--  7,i7 su* acc\nt %all cease to  
be a rural r5ewal community bus9ess     
/>t-up sav+s acc\nt z ( ! date ( dea?1 &
  7,,ii7 an am\nt equal to ! fair m>ket 
value ( ! assets 9 su* acc\nt on su*    
date %all be includible1 if su* p]son is
 n ! e/ate ( su* b5efici>y1 9 su*       
p]son's gross income = ! taxable ye> :i*
 includes su* date1 or if su* p]son is !
 e/ate ( su* b5efici>y1 9 su*           
b5efici>y's gross income = ! la/ taxable
 ye> ( su* b5efici>y4  7ii7 ,special    

rules  7,i7 ,r$uction ( inclusion =     
pr$ea? exp5ses ,! am\nt includible 9    
gross income "u clause 7i7 by any p]son 
7o!r ?an ! e/ate7 %all be r$uc$ by !    
am\nt ( qualifi$ di/ributions :i* 7 paid
 or incurr$ by ! dec$5t be=e ! date ( ! 
dec$5t's dea? & paid by su* p]son )9 #a 
ye> aft] su* date4  7,,ii7 ,d$uction =  
e/ate taxes ,an appropriate d$uction    
%all be all[$ "u section #fia7;c7 to any
 p]son 7o!r ?an ! dec$5t or ! dec$5t's  
sp\se7 ) respect to am\nts includ$ 9    
gross income "u clause 7i7 by su* p]son4
  7e7 ,community prop]ty laws ,?is      
section %all be appli$ )\t reg>d to any 
community prop]ty laws4  7f7 ,reports ,!
 tru/ee ( a rural r5ewal community      
bus9ess />t-up sav+s acc\nt %all make   
su* reports reg>d+ su* acc\nt to !      
,secret>y & to ! individual = :om !     
acc\nt is1 or is to be1 ma9ta9$ )       
respect to contributions 7& ! ye>s to   
:i* !y relate7 & di/ributions aggregat+ 
#aj or m 9 any cal5d> ye>1 & su* o!r    
matt]s z ! ,secret>y may require4 ,!    

reports requir$ by ?is subsection--     
7#a7 %all be fil$ at su* "t & 9 su*     
mann] z ! ,secret>y prescribes1 &  7#b7 
%all be furni%$ to individuals--  7,a7 n
 lat] ?an ,janu>y #ca ( ! cal5d> ye>    
foll[+ ! cal5d> ye> to :i* su* reports  
relate1 &  7,b7 9 su* mann] z !         
,secret>y prescribes4  7g7 ,regulations 
,! ,secret>y %all issue su* regulations 
or o!r guidance z may be necess>y to    
c>ry out ?is section1 includ+ = purposes
 ( subsection 7d77#a77;,b77i7 ! mak+    
reports by reg>d+ eligible co/s ( an    
entity 9 :i* ! taxpay] directly holds   
/ock or a capital or pr(its int]e/4  4  
7b7 ,d$uction all[$ :e!r or n individual
 itemizes d$uctions ,section #fb7;a7 ( !
 ,int]nal ,rev5ue ,code ( #aihf is am5d$
 by ins]t+ aft] p>agraph 7#ba7 ! foll[+ 
new p>agraph3  7#bb7 ,rural r5ewal      
community bus9ess />t-up sav+s acc\nts  
,! d$uction all[$ by section #bbd4  4   
7c7 ,tax on prohibit$ transactions  7#a7
 ,9 g5]al ,p>agraph 7#a7 ( section      
#dige7;e7 ( ! ,int]nal ,rev5ue ,code (  

#aihf is am5d$ by /rik+ or at ! end (   
subp>agraph 7,f71 by r$esignat+         
subp>agraph 7,g7 z subp>agraph 7,h71 &  
by ins]t+ aft] subp>agraph 7,f7 ! foll[+
 new subp>agraph3  7,g7 a rural r5ewal  
community bus9ess />t-up sav+s acc\nt   
describ$ 9 section #bbd1 or  4  7#b7    
,special rule ,subsection 7c7 ( section 
#dige ( su* ,code is am5d$ by add+ at ! 
end ( subsection 7c7 ! foll[+ new       
p>agraph3  7#g7 ,special rule = rural   
r5ewal community bus9ess />t-up sav+s   
acc\nts ,an individual = ^: b5efit a    
rural r5ewal community bus9ess />t-up   
sav+s acc\nt is e/abli%$ & any          
contributor to su* acc\nt %all be exempt
 f ! tax impos$ by ?is section ) respect
 to any transaction conc]n+ su* acc\nt  
7:i* w\ld o!rwise be taxable "u ?is     
section7 if section #bbd7;d77#b7 applies
 ) respect to su* transaction4  4  7d7  
,failure ,to ,provide ,reports on rural 
r5ewal community bus9ess />t-,up sav+s  
acc\nts ,p>agraph 7#b7 ( section        
#ffic7;a7 ( ! ,int]nal ,rev5ue ,code (  

#aihf is am5d$ by r$esignat+            
subp>agraphs 7,d71 7,e71 & 7,f7 z       
subp>agraphs 7,e71 7,f71 & 7,g71        
respectively1 & by ins]t+ aft]          
subp>agraph 7,c7 ! foll[+ new           
subp>agraph3  7,d7 section #bbd7;f7     
7relat+ to rural r5ewal community       
bus9ess />t-up sav+s acc\nts71  4  7e7  
,excess contributions ,section #digc ( !
 ,int]nal ,rev5ue ,code ( #aihf is      
am5d$--  7#a7 9 subsection 7a71 by /rik+
 or at ! end ( p>agraph 7#e71 by ins]t+ 
or at ! end ( p>agraph 7#f71 & ins]t+   
aft] p>agraph 7#f7 ! foll[+ new         
p>agraph3  7#g7 a rural r5ewal community
 bus9ess />t-up sav+s acc\nt 7)9 ! mean+
 ( section #bbd7;c771  1 &  7#b7 by add+
 at ! end ! foll[+ new subsection3  7i7 
,excess contributions to rural r5ewal   
community bus9ess />t-,up sav+s acc\nts 
,= purposes ( ?is section1 9 ! case (   
contributions to a rural r5ewal         
community bus9ess />t-up sav+s acc\nt   
7)9 ! mean+ ( section #bbd7;b771 ! t]m  
excess contributions means ! sum (--    

7#a7 ! excess 7if any7 (--  7,a7 ! am\nt
 contribut$ = ! taxable ye> to su*      
acc\nts 7o!r ?an a rollov] contribution 
describ$ 9 section #bbd7;d77#d771 ov]   
7,b7 ! am\nt all[able z a contribution  
"u section #bbd7;b77#a71 &  7#b7 ! am\nt
 det]m9$ "u ?is subsection = ! prec$+   
taxable ye>1 r$uc$ by ! sum (--  7,a7 ! 
di/ributions out ( ! acc\nts = ! taxable
 ye>1 &  7,b7 ! excess 7if any7 ( !     
maximum am\nt all[able z a contribution 
"u sections #bbd7;b77#a7 = ! taxable ye>
 ov] ! am\nt contribut$ to ! acc\nts = !
 taxable ye>4  ,= purposes ( ?is        
subsection1 any contribution :i* is     
di/ribut$ f a rural r5ewal community    
bus9ess />t-up sav+s acc\nt 9 a         
di/ribution describ$ 9 section          
#bbd7;d77#c7 %all be treat$ z an am\nt n
 contribut$4  4  7f7 ,cl]ical am5dm5t ,!
 table ( cont5ts = "p ,,viii ( sub*apt] 
,b ( *apt] #a ( su* ,code is am5d$ by   
r$esignat+ ! item relat+ to section #bbd
 z relat+ to section #bbe & by ins]t+   
aft] ! item relat+ to section #bbc !    

foll[+ new item3  ,sec4 #bbd4 ,rural    
r5ewal community bus9ess />t-up sav+s   
acc\nts4  4  7g7 ,effective date ,!     
am5dm5ts made by ?is section %all apply 
to taxable ye>s beg9n+ aft] ,decemb]    
#ca1 #bjaf4  ,,ii ,sett+ ,rural ,am]ica 
,free f ,ov]regulation  #bja4 ,%ort     
title ,?is title may be cit$ z ! ,r$uc+ 
,excessive ,gov]nm5t 9 ,rural ,am]ica   
,act ( #bjaf4  #bjb4 ,r$uc+ excessive   
,gov]nm5t 9 rural ,am]ica  7a7          
,def9itions ,9 ?is section--  7#a7 ! t]m
 co/ to rural ,am]ica ) respect to a    
rule1 means all co/s incurr$ by1 &      
exp5ditures requir$ (1 individuals &    
entities locat$ 9 a rural area 9 comply+
 ) ! rule2  7#b7 ! t]m jo9t resolution  
means a jo9t resolution-- 7,a7 report$  
by ! ,committee on ! ,budget ( ! ,s5ate 
or ! ,h\se ( ,repres5tatives 9          
accordance ) subsection 7b77#c72  7,b7  
:i* does n h a preamble2  7,c7 ! title (
 :i* is z foll[s3 ,jo9t resolution      
relat+ to repeal ( co/ly rules = rural  
,am]ica42  7,d7 ! matt] aft] ! resolv+  

clause ( :i* is z foll[s3 ,t ! foll[+   
rules %all h no =ce or effect3 41 !     
blank space be+ fill$ 9 ) ! li/ ( major 
rules affect+ rural ,am]ica recomm5d$ to
 be repeal$ "u subsection 7b7 by !      
committees ( ! ,h\se 9 :i* ! jo9t       
resolution is report$2 &  7,e7 t w      
result 9 a r$uction ( ! co/ to rural    
,am]ica ( all rules ( n less ?an #aj    
p]c5t dur+ ! #aj-;fiscal-ye> p]iod      
beg9n+ ) ! next full fiscal ye>2  7#c7 !
 t]m major rule affect+ rural ,am]ica   
means a rule hav+ or likely to result 9 
an annual co/ to rural ,am]ica ( n less 
?an #ajj1jjj1jjj2  7#d7 ! t]m rule has !
 mean+ giv5 t t]m 9 section #hjd ( title
 #e1 ,unit$ ,/ates ,code2 &  7#e7 ! t]m 
rural area means an area t--  7,a7 has a
 population ( n less ?an #bjj           
individuals & n m ?an #be1jjj           
individuals2 &  7,b7 is n locat$ ) a    
metropolitan /ati/ical area :i* has a   
population ( m ?an #bjj1jjj individuals4
  7b7 ,action by committees  7#a7 ,9    
g5]al ,n lat] ?an #f mon?s aft] ! date (

 enactm5t ( ?is ,act1 ea* committee ( ! 
,s5ate & ! ,h\se ( ,repres5tatives %all 
submit to ! ,committee on ! ,budget (   
its ,h\se a li/ ( ! rules t--  7,a7 are 
)9 ! jurisdiction ( ! committee2  7,b7 !
 committee det]m9es are major rules     
affect+ rural ,am]ica2 &  7,c7 !        
committee recomm5ds %\ld be repeal$4    
7#b7 ,consid]ations ,9 det]m9+ :e!r to  
recomm5d repeal+ major rules affect+    
rural ,am]ica )9 its jurisdiction1 a    
committee ( ! ,s5ate or ! ,h\se (       
,repres5tatives %all consid]--  7,a7    
:e!r ! major rule affect+ rural ,am]ica 
a*iev$1 or has be5 ineffective 9 a*iev+1
 ! orig9al purpose ( ! major rule       
affect+ rural ,am]ica2  7,b7 any adv]se 
effects t c\ld mat]ialize if ! major    
rule affect+ rural ,am]ica is repeal$1 9
 p>ticul> if ^? adv]se effects are !    
reason ! major rule affect+ rural       
,am]ica 0 orig9ally enact$2  7,c7 :e!r !
 co/s ( ! major rule affect+ rural      
,am]ica outweigh any b5efits ( ! major  
rule affect+ rural ,am]ica to ! ,unit$  

,/ates2  7,d7 :e!r ! major rule affect+ 
rural ,am]ica has become obsolete due to
 *anges 9 te*nology1 economic           
conditions1 m>ket practices1 or any o!r 
factors2 &  7,e7 :e!r ! major rule      
affect+ rural ,am]ica ov]laps ) ano!r   
rule4  7#c7 ,comb9+ ( recomm5dations ,! 
,committee on ! ,budget ( ! ,s5ate & !  
,committee on ! ,budget ( ! ,h\se (     
,repres5tatives1 ^u receiv+             
recomm5dations f all relevant committees
 "u p>agraph 7#a71 %all report to its   
,h\se a jo9t resolution c>ry+ out all   
su* recomm5dations )\t any sub/antive   
revision1 if ! committee det]m9es ! jo9t
 resolution meets ! requirem5t "u       
subsection 7a77#b77;,e74  7c7 ,exp$it$  
proc$ures  7#a7 ,consid]ation 9 ,h\se ( 
,repres5tatives  7,a7 ,placem5t on      
cal5d> ,^u a jo9t resolution be+ report$
 by ! ,committee on ! ,budget ( ! ,h\se 
( ,repres5tatives1 or ^u receipt ( a    
jo9t resolution f ! ,s5ate1 ! jo9t      
resolution %all be plac$ imm$iately on !
 cal5d>4  7,b7 ,proce$+ to consid]ation 

7i7 ,9 g5]al ,x %all be 9 ord]1 n lat]  
?an #fj days aft] ! date on :i* a jo9t  
resolution is report$ by ! ,committee on
 ! ,budget ( ! ,h\se ( ,repres5tatives1 
to move to proce$ to consid] a jo9t     
resolution 9 ! ,h\se ( ,repres5tatives4 
7ii7 ,proc$ure ,= a motion to proce$ to 
consid] a jo9t resolution-- 7,i7 all    
po9ts ( ord] aga9/ ! motion are waiv$2  
7,,ii7 su* a motion %all n be 9 ord]    
aft] ! ,h\se ( ,repres5tatives has      
dispos$ ( a motion to proce$ to ! jo9t  
resolution2  7,,iii7 ! previ\s "q %all  
be consid]$ z ord]$ on ! motion to its  
adoption )\t int]v5+ motion2  7,,iv7 !  
motion %all n be debatable2 &  7,v7 a   
motion to reconsid] ! vote by :i* !     
motion is dispos$ ( %all n be 9 ord]4   
7,c7 ,consid]ation ,! ,h\se (           
,repres5tatives %all e/abli% rules =    
consid]ation ( a jo9t resolution 9 !    
,h\se ( ,repres5tatives4  7#b7 ,exp$it$ 
consid]ation 9 ,s5ate  7,a7 ,placem5t on
 cal5d> ,^u a jo9t resolution be+       
report$ by ! ,committee on ! ,budget ( !

 ,s5ate1 or ^u receipt ( a jo9t         
resolution f ! ,h\se ( ,repres5tatives1 
! jo9t resolution %all be plac$         
imm$iately on ! cal5d>4  7,b7 ,proce$+  
to consid]ation  7i7 ,9 g5]al ,not)/&+  
rule ,,xxii ( ! ,/&+ ,rules ( ! ,s5ate1 
x is 9 ord]1 n lat] ?an #fj days aft] ! 
date on :i* a jo9t resolution is report$
 by ! ,committee on ! ,budget ( ! ,s5ate
 7ev5 ?\gh a previ\s motion to ! same   
effect has be5 disagre$ to7 to move to  
proce$ to ! consid]ation ( a jo9t       
resolution4  7ii7 ,proc$ure ,= a motion 
to proce$ to ! consid]ation ( a jo9t    
resolution-- 7,i7 all po9ts ( ord] aga9/
 ! motion are waiv$2  7,,ii7 ! motion is
 n debatable2  7,,iii7 ! motion is n    
subject to a motion to po/pone2  7,,iv7 
a motion to reconsid] ! vote by :i* !   
motion is agre$ to or disagre$ to %all n
 be 9 ord]2 &  7,v7 if ! motion is agre$
 to1 ! jo9t resolution %all rema9 !     
unf9i%$ bus9ess until dispos$ (4  7,c7  
,floor consid]ation g5]ally ,if ! ,s5ate
 proce$s to consid]ation ( a jo9t       

resolution-- 7i7 all po9ts ( ord] aga9/ 
! jo9t resolution 7& aga9/ consid]ation 
( ! jo9t resolution7 are waiv$2  7ii7   
consid]ation ( ! jo9t resolution1 & all 
am5dm5ts !reto & debatable motions &    
appeals 9 connection !re)1 %all be      
limit$ to n m ?an #aj h\rs1 :i* %all be 
divid$ equally betwe5 ! majority &      
m9ority lead]s or _! designees2  7iii7 a
 motion to po/pone or a motion to commit
 ! jo9t resolution is n 9 ord]2 &  7iv7 
a motion to proce$ to ! consid]ation (  
o!r bus9ess is n 9 ord]4  7,d7          
,requirem5ts = am5dm5ts  7i7 ,9 g5]al   
,no am5dm5t t is n g]mane to !          
provisions ( a jo9t resolution %all be  
consid]$4  7ii7 ,repeal ( major rules   
affect+ rural ,am]ica ,not)/&+ clause   
7i7 or any o!r rule1 an am5dm5t or s]ies
 ( am5dm5ts to a jo9t resolution %all   
always be 9 ord] if su* am5dm5t or s]ies
 ( am5dm5ts proposes to repeal a major  
rule affect+ rural ,am]ica t w\ld result
 9 a decrease 9 ! total co/ to rural    
,am]ica ( all rules dur+ !              

#aj-;fiscal-ye> p]iod beg9n+ ) ! next   
full fiscal ye>4  7,e7 ,vote on passage 
,! vote on passage %all occur imm$iately
 foll[+ ! conclusion ( ! consid]ation ( 
a jo9t resolution1 & a s+le quorum call 
at ! conclusion ( ! debate if reque/$ 9 
accordance ) ! rules ( ! ,s5ate4  7,f7  
,rul+s ( ! *air on proc$ure ,appeals f !
 decisions ( ! ,*air relat+ to !        
application ( ?is subsection or ! rules 
( ! ,s5ate1 z ! case may be1 to !       
proc$ure relat+ to a jo9t resolution    
%all be decid$ )\t debate4  7#c7        
,consid]ation aft] passage ,if !        
,presid5t vetoes ! jo9t resolution1     
consid]ation ( a veto message 9 ! ,s5ate
 "u ?is section %all be n m ?an #b h\rs 
equally divid$ betwe5 ! majority &      
m9ority lead]s or _! designees4  7#d7   
,rules ( ,h\se ( ,repres5tatives &      
,s5ate ,?is subsection is enact$ by     
,congress-- 7,a7 z an ex]cise ( !       
rulemak+ p[] ( ! ,s5ate & ,h\se (       
,repres5tatives1 respectively1 & z su*  
is deem$ a "p ( ! rules ( ea* ,h\se1    

respectively1 b applicable only )       
respect to ! proc$ure to be foll[$ 9 t  
,h\se 9 ! case ( a jo9t resolution1 &   
sup]s$e o!r rules only to ! ext5t t !y  
are inconsi/5t ) su* rules2 &  7,b7 )   
full recognition ( ! con/itutional "r ( 
ei!r ,h\se to *ange ! rules 7s f> z     
relat+ to ! proc$ure ( t ,h\se7 at any  
"t1 9 ! same mann]1 & to ! same ext5t z 
9 ! case ( any o!r rule ( t ,h\se4  7d7 
,effect ( jo9t resolution  7#a7 ,9 g5]al
 ,a major rule affect+ rural ,am]ica    
%all cease to h =ce or effect if        
,congress enacts a jo9t resolution      
repeal+ ! major rule affect+ rural      
,am]ica4  7#b7 ,limitation on subsequ5t 
rulemak+ ,a rule t ceases to h =ce or   
effect "u p>agraph 7#a7 may n be reissu$
 9 sub/antially ! same =m1 & a new rule 
t is sub/antially ! same z su* a rule   
may n be issu$1 unless ! reissu$ or new 
rule is specifically au?oriz$ by a law  
enact$ aft] ! date ( ! jo9t resolution  
repeal+ ! orig9al rule4