,i  #aae? ,,congress  #a/ ,session  ,h4 
,r4 #cdec  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,july #bg1 #bjag,ms4  
,velzquez introduc$ ! foll[+ bill2 :i* 0
 ref]r$ to ! ,committee on ,ways &      
,means  ,a ,,bill  ,to am5d ! ,int]nal  
,rev5ue ,code ( #aihf to provide a /&>d 
d$uction = ! trade or bus9ess exp5ses ( 
arti/s4  #a4 ,%ort title ,?is ,act may  
be cit$ z ! ,tax ,relief = ,arti/s ,act 
( #bjag4  #b4 ,/&>d d$uction = ! trade  
or bus9ess exp5ses ( arti/s  7a7 ,9     
g5]al ,section #afb ( ! ,int]nal ,rev5ue
 ,code ( #aihf is am5d$ by r$esignat+   
subsection 7q7 z subsection 7r7 & by    
ins]t+ aft] subsection 7p7 ! foll[+ new 
subsection3  7q7 ,/&>d d$uction = trade 
or bus9ess exp5ses ( arti/s  7#a7 ,9    
g5]al ,9 ! case ( a qualifi$ taxpay] :o 
elects ! application ( ?is subsection = 
any taxable ye>1 !re %all be all[$ z a  
d$uction = su* taxable ye> an am\nt     
equal to ! less] (--  7,a7 #b1ejj1 or   
7,b7 ! gross income ( ! taxpay] d]iv$ f 
"o or m arti/ic trades or bus9esses     

c>ri$ on by ! taxpay] 7or1 if less1     
taxable income74  7#b7 ,qualifi$ taxpay]
 ,= purposes ( ?is subsection1 ! t]m    
qualifi$ taxpay] means any taxpay] )    
respect to any taxable ye> if-- 7,a7 !  
taxpay]'s h\sehold income = ! taxable   
ye> does n exce$ #bej p]c5t ( ! pov]ty  
l9e = a family ( ! size involv$1 &  7,b7
 ! taxpay] has gross income d]iv$ f "o  
or m arti/ic trades or bus9esses c>ri$  
on by ! taxpay]4  7#c7 ,arti/ic trade or
 bus9ess ,= purposes ( ?is subsection1 !
 t]m arti/ic trade or bus9ess means any 
trade or bus9ess 9 ! lit]>y1 graphic    
design1 film1 visual1 m$ia1 musical1    
!atre1 record+1 or dance arts4  7#d7    
,o!r def9itions & special rules ,=      
purposes ( ?is subsection-- 7,a7        
,def9itions relat$ to h\sehold income   
,t]ms us$ 9 p>agraph 7#b77;,a7 :i* are  
also us$ 9 section #cf;,b %all h ! same 
mean+ z :5 us$ 9 su* section4  7,b7     
,jo9t returns ,9 ! case ( a jo9t return1
 p>agraph 7#a77;,a7 %all be appli$ by   
sub/itut+ #e1jjj = #b1ejj if bo? sp\ses 

w\ld be treat$ z a qualifi$ taxpay] if  
ea* sp\se fil$ a sep>ate return4  7,c7  
,d5ial ( d\ble b5efit ,if ! taxpay]     
elects ! application ( ?is subsection = 
any taxable ye>1 no d$uction 7o!r ?an ! 
d$uction all[$ "u p>agraph 7#a77 %all be
 all[able "u ?is *apt] to ! taxpay] )   
respect to any am\nt paid or incurr$    
dur+ su* taxable ye> ) respect to any   
arti/ic trade or bus9ess c>ri$ on by !  
taxpay]4  7,d7 ,regulations ,! ,secret>y
 %all prescribe su* regulations or o!r  
guidance z ! ,secret>y det]m9es to be   
necess>y or appropriate to c>ry out !   
purposes ( ?is subsection4  4  7b7      
,effective date ,! am5dm5ts made by ?is 
section %all apply to taxable ye>s      
beg9n+ aft] ! date ( ! enactm5t ( ?is   
,act4