,i  #aafth ,,congress  #b;d ,session    
,h4 ,r4 #ggjg  ,,in ,,the ,,house ,,of  
,,representatives  ,july #ba1 #bjbj,mr4 
,la,hood 7for himself and ,mr4 ,panetta7
 introduced the following bill2 which   
was referred to the ,committee on ,ways 
and ,means  ,a ,,bill  ,to amend the    
,internal ,revenue ,code of #aihf to    
provide a credit for the uncollectible  
accounts of eligible wholesale          
distributors4  #a4 ,short title ,this   
,act may be cited as the ,providing     
,liquidity for ,uncollectible ,sales    
,act of #bjbj or as the ,,plus ,act of  
#bjbj4  #b4 ,credit for uncollectible   
accounts of eligible wholesale          
distributors  7a7 ,in general ,subpart  
,d of part ,,iv of subchapter ,a of     
chapter #a of the ,internal ,revenue    
,code of #aihf is amended by adding     
after section #de,t the following new   
section3  #de,u4 ,wholesale distributor 
uncollectible accounts credit  7a7 ,in  
general ,for purposes of section #ch1 in
 the case of an eligible wholesale      

distributor1 the wholesale distributor  
uncollectible accounts credit determined
 under this section for the taxable year
 is an amount equal to the qualified    
accounts receivables of such distributor
 which become uncollectible during such 
taxable year4  7b7 ,eligible wholesale  
distributor ,for purposes of this       
section1 the term eligible wholesale    
distributor means any person engaged in 
the trade or business of selling        
inventory to food and beverage          
establishments4  7c7 ,qualified accounts
 receivable ,for purposes of this       
section-- 7#a7 ,in general ,the term    
qualified accounts receivable means any 
accounts receivable which was accrued   
pursuant to normal payment terms by an  
eligible wholesale distributor for the  
sale of inventory delivered on or before
 ,march #be1 #bjbj1 to a qualified food 
and beverage establishment4  7#b7       
,normal payment terms ,an amount shall  
be treated as accrued pursuant to normal
 payment terms if it is accrued under   

the applicable payment terms in effect  
on ,march #be1 #bjbj1 under an agreement
 established prior to that date between 
the eligible wholesale distributor and  
the qualified food and beverage         
establishment4  7#c7 ,presumption of    
uncollectability ,for purposes of this  
section1 a qualified accounts receivable
 shall be treated as becoming           
uncollectible during the taxable year of
 the eligible wholesale distributor     
which includes ,july #ae1 #bjbj1 if--   
7,a7 the qualified food and beverage    
establishment to which such qualified   
accounts receivable relates does not    
provide on-premises consumption pursuant
 to an order or recommendation of an    
applicable ,federal1 ,state1 or         
municipal authority for at least #cj    
days during the period beginning on     
,march #be1 #bjbj1 and ending on ,july  
#ae1 #bjbj1 and  7,b7 such qualified    
accounts receivable is not paid before  
the close of such taxable year4  7d7    
,qualified food and beverage            

establishment ,for purposes of this     
section-- 7#a7 ,qualified food and      
beverage establishment ,the term        
qualified food and beverage             
establishment means a food and beverage 
establishment within the ,united ,states
 that ceases to provide on-premises     
consumption of food and beverage on or  
after ,march #be1 #bjbj1 pursuant to an 
order or recommendation of an applicable
 ,federal1 ,state1 or municipal         
authority4  7#b7 ,food and beverage     
establishment ,the term food and        
beverage establishment means a          
commercial establishment engaged in the 
trade or business of preparing food and 
beverage for consumption on-premises or 
off-premises4  7e7 ,inventory ,for      
purposes of this section1 the term      
inventory means property described in   
section #abba7;a77#a7 in the hands of   
the food and beverage establishments to 
which sold by the eligible wholesale    
distributor4  7f7 ,coordination with    
deduction for bad debts ,any amount     

allowed as a credit under this section  
will not be allowable as a deduction    
under section #aff4  4  7b7 ,conforming 
amendments ,section #ch7;b7 of the      
,internal ,revenue ,code of #aihf is    
amended by striking plus at the end of  
paragraph 7#cb71 by striking the period 
at the end of paragraph 7#cc7 and       
inserting 1 plus1 and by adding after   
paragraph 7#cc7 the following new       
paragraph3  7#cd7 in the case of an     
eligible wholesale distributor 7as      
defined in section #de,u7b771 the       
wholesale distributor uncollectible     
accounts credit determined under section
 #de,u7a74  4  7c7 ,effective date ,the 
amendments made by this sections shall  
apply to taxable years ending after     
,march #be1 #bjbj4