,i  #aaf? ,,congress  #b;d ,session  ,h4
 ,r4 #hhag  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,novemb] #bd1         
#bjbj,mr4 ,panetta 7= himself & ,mr4    
,smi? ( ,nebraska7 introduc$ ! foll[+   
bill2 :i* 0 ref]r$ to ! ,committee on   
,ways & ,means  ,a ,,bill  ,to provide  
inc5tives to make *>itable contributions
 ( c]ta9 inv5tory4  #a4 ,%ort title ,?is
 ,act may be cit$ z ! ,pres]v+ ,*>itable
 ,inc5tives ,act4  #b4 ,inc5tives to    
make *>itable contributions ( c]ta9     
inv5tory  7a7 ,tempor>y increase 9      
limitation on qualifi$ contributions    
7#a7 ,susp5sion ( curr5t limitation     
,except z o!rwise provid$ 9 p>agraph    
7#b71 qualifi$ contributions %all be    
disreg>d$ 9 apply+ subsections 7b77#b71 
7d71 & 7e77#c77;,c77ii7 ( section #agj (
 ! ,int]nal ,rev5ue ,code ( #aihf4  7#b7
 ,application ( increas$ limitation ,=  
purposes ( section #agj ( ! ,int]nal    
,rev5ue ,code ( #aihf-- 7,a7 ,limitation
 ,any qualifi$ contribution %all be     
all[$ z a d$uction only to ! ext5t t !  

aggregate ( su* contributions does n    
exce$ ! excess ( ! taxpay]'s taxable    
income 7z det]m9$ "u p>agraph 7#b7 (    
section #agj7;b7 ( su* ,code7 ov] !     
am\nt ( all o!r *>itable contributions  
all[$ "u su* p>agraph4  7,b7 ,c>ryov]   
,if ! aggregate am\nt ( qualifi$        
contributions made 9 ! contribution ye> 
7)9 ! mean+ ( section #agj7;d77#b7 ( su*
 ,code7 exce$s ! limitation (           
subp>agraph 7,a71 su* excess %all be    
appropriately tak5 into acc\nt "u       
section #agj7;b77#b7 ( su* ,code subject
 to ! limitations !re(4  7,c7 ,c>ryov] (
 food inv5tory contributions ,if !      
aggregate am\nt ( qualifi$ contributions
 describ$ 9 section #agj7;e77#c77;,c77i7
 ( su* ,code made 9 su* contribution ye>
 exce$s ! limitation ( subp>agraph 7,a71
 su* excess %all be appropriately tak5  
into acc\nt "u section                  
#agj7;e77#c77;,c77iii7 ( su* ,code      
subject to ! limitations !re(1 & !      
application ( subp>agraph 7,b7 %all be  
adju/$ accord+ly4  7#c7 ,qualifi$       

contributions ,= purposes ( ?is         
subsection1 ! t]m qualifi$ contribution 
means any qualifi$ contribution 7z def9$
 9 section #agj7;e77#c77;,a7 ( !        
,int]nal ,rev5ue ,code ( #aihf7 :i*--   
7,a7 is made dur+ a taxable ye> ( !     
corporation :i* beg9s dur+ #bjbj or     
#bjba1 &  7,b7 does n consi/ ( any drug 
or biological product t requires a      
prescription ( a physician = its use by 
an individual4  7#d7 ,election ,a       
contribution %all be tak5 into acc\nt z 
a qualifi$ contribution = purposes ( ?is
 subsection only if ! corporation elects
 7at su* "t & 9 su* mann] z ! ,secret>y 
may provide7 ! application ( ?is        
subsection ) respect to su*             
contribution4  7b7 ,election ,to treat  
qualifi$ contributions z made 9 prior   
taxable ye> ,9 ! case ( any qualifi$    
contribution 7z def9$ 9 subsection      
7a77#c7 & det]m9$ )\t reg>d to ?is      
subsection7 made dur+ ! corporation's   
fir/ taxable ye> beg9n+ 9 #bjbj )       
respect to :i* ! corporation elects 7z  

su* "t & 9 su* mann] z ! ,secret>y may  
provide7 ! application ( ?is            
subsection-- 7#a7 su* contribution %all 
be treat$ z made 9 ! taxable ye> prec$+ 
su* taxable ye> 7& n 9 su* taxable ye>71
 &  7#b7 su* contribution %all n be     
treat$ z a qualifi$ contribution =      
purposes ( subsection 7a74  7c7         
,cl>ification ( treatm5t ( inv5tory co/s
 ,! ,secret>y ( ! ,treasury1 or !       
,secret>y's designee1 %all cl>ify1 ?\gh 
a notice or o!r adm9i/rative guidance1 !
 treatm5t ( inv5tory co/s z co/ ( goods 
sold = purposes ( section #agj ( !      
,int]nal ,rev5ue ,code ( #aihf4