,i  #aah? ,,congress  #b;d ,session  ,h4
 ,r4 #ijha  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,july #bb1 #bjbd,mr4  
,fe5/ra 7= himself1 ,mr4 ,nunn ( ,i[a1  
,mrs4 ,h9son1 & ,mrs4 ,mill]-,meeks7    
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,ways & ,means  ,a     
,,bill  ,to provide = em]g5cy tax relief
 = taxpay]s affect$ by ! sev]e /orms1   
flood+1 /raight-l9e w9ds1 & tornadoes 9 
c]ta9 ,i[a c\nties4  #a4 ,%ort title    
,?is ,act may be cit$ z ! ,/orm ,recov]y
 & ,community ,re/oration ,act4  #b4    
,special disa/]-relat$ rules = use (    
retirem5t funds  7a7 ,tax-,favor$       
)drawals f retirem5t plans  7#a7 ,9     
g5]al ,section #gb7t7 ( ! ,int]nal      
,rev5ue ,code ( #aihf %all n apply to   
any qualifi$ ,i[a disa/] di/ribution4   
7#b7 ,aggregate doll> limitation  7,a7  
,9 g5]al ,= purposes ( ?is subsection1 !
 aggregate am\nt ( di/ributions receiv$ 
by an individual :i* may be treat$ z    
qualifi$ ,i[a disa/] di/ributions = any 
taxable ye> %all n exce$ ! excess 7if   

any7 (-- 7i7 #ajj1jjj1 ov]  7ii7 !      
aggregate am\nts treat$ z qualifi$ ,i[a 
disa/] di/ributions receiv$ by su*      
individual = all prior taxable ye>s4    
7,b7 ,treatm5t ( plan di/ributions ,if a
 di/ribution to an individual w\ld 7)\t 
reg>d to subp>agraph 7,a77 be a qualifi$
 ,i[a disa/] di/ribution1 a plan %all n 
be treat$ z violat+ any requirem5t ( !  
,int]nal ,rev5ue ,code ( #aihf m]ely    
because ! plan treats su* di/ribution z 
a qualifi$ ,i[a disa/] di/ribution1     
unless ! aggregate am\nt ( su*          
di/ributions f all plans ma9ta9$ by !   
employ] 7& any memb] ( any controll$    
gr\p :i* includes ! employ]7 to su*     
individual exce$s #ajj1jjj4  7,c7       
,controll$ gr\p ,= purposes (           
subp>agraph 7,b71 ! t]m controll$ gr\p  
means any gr\p treat$ z a s+le employ]  
"u subsection 7b71 7c71 7m71 or 7o7 (   
section #dad ( ! ,int]nal ,rev5ue ,code 
( #aihf4  7#c7 ,am\nt di/ribut$ may be  
repaid  7,a7 ,9 g5]al ,any individual :o
 receives a qualifi$ ,i[a disa/]        

di/ribution may1 at any "t dur+ ! #c-ye>
 p]iod beg9n+ on ! day aft] ! date on   
:i* su* di/ribution 0 receiv$1 make "o  
or m contributions 9 an aggregate am\nt 
n to exce$ ! am\nt ( su* di/ribution to 
an eligible retirem5t plan ( :i* su*    
individual is a b5efici>y & to :i* a    
rollov] contribution ( su* di/ribution  
c\ld be made "u section #djb7;c71       
#djc7;a77#d71 #djc7;b77#h71             
#djh7;d77#c71 or #deg7;e77#af71 ( !     
,int]nal ,rev5ue ,code ( #aihf1 z ! case
 may be4  7,b7 ,treatm5t ( repaym5ts (  
di/ributions f eligible retirem5t plans 
o!r ?an ,i,r,as ,= purposes ( ! ,int]nal
 ,rev5ue ,code ( #aihf1 if a            
contribution is made pursuant to        
subp>agraph 7,a7 ) respect to a qualifi$
 ,i[a disa/] di/ribution f an eligible  
retirem5t plan o!r ?an an individual    
retirem5t plan1 !n ! taxpay] %all1 to ! 
ext5t ( ! am\nt ( ! contribution1 be    
treat$ z hav+ receiv$ ! qualifi$ ,i[a   
disa/] di/ribution 9 an eligible rollov]
 di/ribution 7z def9$ 9 section         

#djb7;c77#d7 ( su* ,code7 & z hav+      
transf]r$ ! am\nt to ! eligible         
retirem5t plan 9 a direct tru/ee to     
tru/ee transf] )9 #fj days ( !          
di/ribution4  7,c7 ,treatm5t ( repaym5ts
 = di/ributions f ,i,r,as ,= purposes ( 
! ,int]nal ,rev5ue ,code ( #aihf1 if a  
contribution is made pursuant to        
subp>agraph 7,a7 ) respect to a qualifi$
 ,i[a disa/] di/ribution f an individual
 retirem5t plan 7z def9$ by section     
#ggja7;a77#cg7 ( su* ,code71 !n1 to !   
ext5t ( ! am\nt ( ! contribution1 !     
qualifi$ ,i[a disa/] di/ribution %all be
 treat$ z a di/ribution describ$ 9      
section #djh7;d77#c7 ( su* ,code & z    
hav+ be5 transf]r$ to ! eligible        
retirem5t plan 9 a direct tru/ee to     
tru/ee transf] )9 #fj days ( !          
di/ribution4  7#d7 ,def9itions ,=       
purposes ( ?is subsection-- 7,a7        
,qualifi$ ,i[a disa/] di/ribution       
,except z provid$ 9 p>agraph 7#b71 ! t]m
 qualifi$ ,i[a disa/] di/ribution means 
any di/ribution f an eligible retirem5t 

plan made on or aft] ! applicable date1 
& be=e ,janu>y #a1 #bjbf1 to an         
individual ^: pr9cipal place ( abode on 
! applicable date1 is locat$ 9 ! ,i[a   
disa/] area4  7,b7 ,i[a disa/] area ,=  
purposes ( p>agraph 7#a71 ! t]m ,i[a    
disa/] area means-- 7i7 any area )9 !   
,i[a c\nties ( ,cl>ke1 ,h>rison1 ,mills1
 ,polk1 ,pottawattamie1 ,r+gold1 ,%elby1
 or ,union ) respect to :i* a major     
disa/] 0 decl>$1 dur+ ! p]iod beg9n+ on 
,april #bf1 #bjbd1 & end+ on ! date :i* 
is #fj days aft] ! date ( ! enactm5t (  
?is ,act1 by ! ,presid5t "u section #dja
 ( ! ,rob]t ,t4 ,/af=d ,disa/] ,relief &
 ,em]g5cy ,assi/ance ,act1 &  7ii7 any  
area )9 ! ,i[a c\nties ( ,clay1 ,emmet1 
,lyon1 ,plym\?1 or ,si\x ) respect to   
:i* a major disa/] 0 decl>$1 dur+ !     
p]iod beg9n+ on ,june #af1 #bjbd1 & end+
 on ! date :i* is #fj days aft] ! date (
 ! enactm5t ( ?is ,act1 by ! ,presid5t  
"u section #dja ( ! ,rob]t ,t4 ,/af=d   
,disa/] ,relief & ,em]g5cy ,assi/ance   
,act4  7,c7 ,applicable date ,= purposes

 ( ?is p>agraph1 ! t]m applicable date  
means-- 7i7 9 ! case ( a disa/] area    
describ$ 9 subp>agraph 7,b77i71 ,april  
#bf1 #bjbd1 &  7ii7 9 ! case ( a disa/] 
area describ$ 9 subp>agraph 7,b77ii71   
,june #af1 #bjbd4  7,d7 ,eligible       
retirem5t plan ,! t]m eligible retirem5t
 plan has ! mean+ giv5 su* t]m by       
section #djb7;c77#h77;,b7 ( ! ,int]nal  
,rev5ue ,code ( #aihf4  7#e7 ,income    
inclusion spread ov] #c-ye> p]iod  7,a7 
,9 g5]al ,9 ! case ( any qualifi$ ,i[a  
disa/] di/ribution1 unless ! taxpay]    
elects n to h ?is p>agraph apply = any  
taxable ye>1 any am\nt requir$ to be    
includ$ 9 gross income = su* taxable ye>
 %all be s includ$ ratably ov] !        
#c-taxable-ye> p]iod beg9n+ ) su*       
taxable ye>4  7,b7 ,special rule ,=     
purposes ( subp>agraph 7,a71 rules      
simil> to ! rules ( subp>agraph 7,e7 (  
section #djh;,a7d77#c7 ( ! ,int]nal     
,rev5ue ,code ( #aihf %all apply4  7#f7 
,special rules  7,a7 ,exemption (       
di/ributions f tru/ee to tru/ee transf] 

& )hold+ rules ,= purposes ( sections   
#dja7;a77#ca71 #djb7;f71 & #cdje ( !    
,int]nal ,rev5ue ,code ( #aihf1 qualifi$
 ,i[a disa/] di/ributions %all n be     
treat$ z eligible rollov] di/ributions4 
7,b7 ,qualifi$ ,i[a disa/] di/ributions 
treat$ z meet+ plan di/ribution         
requirem5ts ,= purposes ! ,int]nal      
,rev5ue ,code ( #aihf1 a qualifi$ ,i[a  
disa/] di/ribution %all be treat$ z     
meet+ ! requirem5ts ( sections          
#dja7k77#b77;,b77i71                    
#djc7;b77#g77;,a77ii71 #djc7;b77#aa71 & 
#deg7;d77#a77;,a7 ( su* ,code4  7b7     
,recontributions ( )drawals = home      
pur*ases  7#a7 ,recontributions  7,a7 ,9
 g5]al ,any individual :o receiv$ a     
qualifi$ di/ribution may1 dur+ ! p]iod  
beg9n+ on ! applicable date1 & end+ on  
,decemb] #ca1 #bjbd1 make "o or m       
contributions 9 an aggregate am\nt n to 
exce$ ! am\nt ( su* qualifi$ di/ribution
 to an eligible retirem5t plan 7z def9$ 
9 section #djb7;c77#h77;,b7 ( ! ,int]nal
 ,rev5ue ,code ( #aihf7 ( :i* su*       

individual is a b5efici>y & to :i* a    
rollov] contribution ( su* di/ribution  
c\ld be made "u section #djb7;c71       
#djc7;a77#d71 #djc7;b77#h71 or          
#djh7;d77#c71 ( su* ,code1 z ! case may 
be4  7,b7 ,treatm5t ( repaym5ts ,rules  
simil> to ! rules ( subp>agraphs 7,b7 & 
7,c7 ( subsection 7a77#c7 %all apply =  
purposes ( ?is subsection4  7#b7        
,qualifi$ di/ribution ,= purposes ( ?is 
subsection1 ! t]m qualifi$ di/ribution  
means any di/ribution-- 7,a7 describ$ 9 
section #dja7k77#b77;,b77i77,,iv71      
#djc7;b77#g77;,a77ii7 7b only to ! ext5t
 su* di/ribution relates to f9ancial    
h>d%ip71 #djc7;b77#aa77;,b71 or         
#gb7t77#b77;,f71 ( ! ,int]nal ,rev5ue   
,code ( #aihf1  7,b7 receiv$ on or aft] 
! applicable date1 & be=e ,decemb] #ca1 
#bjbd1 &  7,c7 :i* 0 to be us$ to       
pur*ase or con/ruct a pr9cipal resid5ce 
9 ! ,i[a disa/] area4  7#c7 ,applicable 
date ,= purposes ( ?is subsection1 ! t]m
 applicable date means-- 7,a7 9 ! case (
 a qualifi$ di/ribution receiv$ )       

respect to ! ,i[a disa/] area describ$ 9
 subsection 7a77#d77;,b77i71 ,april #bf1
 #bjbd1 &  7,b7 9 ! case ( a qualifi$   
di/ribution receiv$ ) respect to ! ,i[a 
disa/] area describ$ 9 subsection       
7a77#d77;,b77ii71 ,june #ad1 #bjbd4  7c7
 ,loans f qualifi$ plans  7#a7 ,increase
 9 limit on loans n treat$ z            
di/ributions ,9 ! case ( any loan f a   
qualifi$ employ] plan 7z def9$ "u       
section #gb7p77#d7 ( ! ,int]nal ,rev5ue 
,code ( #aihf7 to a qualifi$ individual 
made dur+ ! p]iod beg9n+ on ! date ( !  
enactm5t ( ?is ,act & end+ on ,decemb]  
#ca1 #bjbe-- 7,a7 clause 7i7 ( section  
#gb7p77#b77;,a7 ( su* ,code %all be     
appli$ by sub/itut+ #ajj1jjj = #ej1jjj1 
&  7,b7 clause 7ii7 ( su* section %all  
be appli$ by sub/itut+ ! pres5t value ( 
! non=feitable accru$ b5efit ( !        
employee "u ! plan = "o-half ( ! pres5t 
value ( ! non=feitable accru$ b5efit ( !
 employee "u ! plan4  7#b7 ,delay (     
repaym5t ,9 ! case ( a qualifi$         
individual ) an out/&+ loan on or aft] !

 qualifi$ beg9n+ date f a qualifi$      
employ] plan 7z def9$ 9 section         
#gb7p77#d7 ( ! ,int]nal ,rev5ue ,code ( 
#aihf7-- 7,a7 if ! due date pursuant to 
subp>agraph 7,b7 or 7,c7 ( section      
#gb7p77#b7 ( su* ,code = any repaym5t ) 
respect to su* loan occurs dur+ ! p]iod 
beg9n+ on ! qualifi$ beg9n+ date & end+ 
on ,decemb] #ca1 #bjbe1 su* due date    
%all be delay$ = #a ye>1  7,b7 any      
subsequ5t repaym5ts ) respect to any su*
 loan %all be appropriately adju/$ to   
reflect ! delay 9 ! due date "u p>agraph
 7#a7 & any int]e/ accru+ dur+ su*      
delay1 &  7,c7 9 det]m9+ ! #e-ye> p]iod 
& ! t]m ( a loan "u subp>agraph 7,b7 or 
7,c7 ( section #gb7p77#b7 ( su* ,code1 !
 p]iod describ$ 9 subp>agraph 7,a7 %all 
be disreg>d$4  7#c7 ,qualifi$ individual
 ,= purposes ( ?is subsection1 ! t]m    
qualifi$ individual means an individual 
^: pr9cipal place ( abode on !          
applicable date describ$ 9 subsection   
7a77#d77;,c7 is locat$ 9 ! ,i[a disa/]  
area & :o has su/a9$ an economic loss by

 reason ( sev]e /orms1 flood+1          
/raight-l9e w9ds1 or tornadoes beg9n+ on
 su* date4  7#d7 ,qualifi$ beg9n+ date  
,= purposes ( ?is subsection1 ! qualifi$
 beg9n+ date is ! applicable date       
describ$ 9 subsection 7a77#d77;,c74  7d7
 ,provisions relat+ to plan am5dm5ts    
7#a7 ,9 g5]al ,if ?is subsection applies
 to any am5dm5t to any plan or annuity  
contract1 su* plan or contract %all be  
treat$ z be+ op]at$ 9 accordance ) !    
t]ms ( ! plan dur+ ! p]iod describ$ 9   
p>agraph 7#b77;,b77i74  7#b7 ,am5dm5ts  
to :i* subsection applies  7,a7 ,9 g5]al
 ,?is subsection %all apply to any      
am5dm5t to any plan or annuity contract 
:i* is made-- 7i7 pursuant to any       
provision ( ?is section1 or pursuant to 
any regulation issu$ by ! ,secret>y or !
 ,secret>y ( ,labor "u any provision (  
?is section1 &  7ii7 on or be=e ! la/   
day ( ! fir/ plan ye> beg9n+ on or aft] 
,janu>y #a1 #bjbf1 or su* lat] date z ! 
,secret>y may prescribe4  ,9 ! case ( a 
gov]nm5tal plan 7z def9$ 9 section      

#dad7;d7 ( ! ,int]nal ,rev5ue ,code (   
#aihf71 clause 7ii7 %all be appli$ by   
sub/itut+ ! date :i* is #b ye>s aft] !  
date o!rwise appli$ "u clause 7ii74     
7,b7 ,conditions ,?is subsection %all n 
apply to any am5dm5t unless-- 7i7 dur+ !
 p]iod-- 7,i7 beg9n+ on ! date t ?is    
section or ! regulation describ$ 9      
subp>agraph 7,a77i7 takes effect 7or 9 !
 case ( a plan or contract am5dm5t n    
requir$ by ?is section or su*           
regulation1 ! effective date specifi$ by
 ! plan71 &  7,,ii7 end+ on ! date      
describ$ 9 subp>agraph 7,a77ii7 7or1 if 
e>li]1 ! date ! plan or contract am5dm5t
 is adopt$71  ! plan or contract is     
op]at$ z if su* plan or contract am5dm5t
 7 9 effect1 &  7ii7 su* plan or        
contract am5dm5t applies retroactively =
 su* p]iod4  #c4 ,tempor>y susp5sion (  
limitations on *>itable contributions   
7a7 ,9 g5]al ,except z o!rwise provid$ 9
 p>agraph 7#b71 subsection 7b7 ( section
 #agj ( ! ,int]nal ,rev5ue ,code ( #aihf
 %all n apply to qualifi$ contributions 

& su* contributions %all n be tak5 into 
acc\nt = purposes ( apply+ subsections  
7b7 & 7d7 ( su* section to o!r          
contributions4  7b7 ,treatm5t ( excess  
contributions ,= purposes ( section #agj
 ( ! ,int]nal ,rev5ue ,code ( #aihf--   
7#a7 ,individuals ,9 ! case ( an        
individual-- 7,a7 ,limitation ,any      
qualifi$ contribution %all be all[$ only
 to ! ext5t t ! aggregate ( su*         
contributions does n exce$ ! excess ( ! 
taxpay]'s contribution base 7z def9$ 9  
subp>agraph 7,g7 ( section #agj7;b77#a7 
( su* ,code7 ov] ! am\nt ( all o!r      
*>itable contributions all[$ "u section 
#agj7;b77#a7 ( su* ,code4  7,b7 ,c>ryov]
 ,if ! aggregate am\nt ( qualifi$       
contributions made 9 ! contribution ye> 
7)9 ! mean+ ( section #agj7;d77#a7 ( su*
 ,code7 exce$s ! limitation ( clause    
7i71 su* excess %all be add$ to ! excess
 describ$ 9 ! portion ( subp>agraph 7,a7
 ( su* section :i* prec$es clause 7i7   
!re( = purposes ( apply+ su* section4   
7#b7 ,corporations ,9 ! case ( a        

corporation-- 7,a7 ,limitation ,any     
qualifi$ contribution %all be all[$ 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] ,rules simil> to ! rules (
 subp>agraph 7,a77ii7 %all apply =      
purposes ( ?is subp>agraph4  7c7        
,exception to ov]all limitation on      
itemiz$ d$uctions ,s mu* ( any d$uction 
all[$ "u section #agj ( ! ,int]nal      
,rev5ue ,code ( #aihf z does n exce$ !  
qualifi$ contributions paid dur+ !      
taxable ye> %all n be treat$ z an       
itemiz$ d$uction = purposes ( section   
#fh ( su* ,code4  7d7 ,qualifi$         
contributions  7#a7 ,9 g5]al ,= purposes
 ( ?is subsection1 ! t]m qualifi$       
contribution means any *>itable         
contribution 7z def9$ 9 section #agj7;c7
 ( ! ,int]nal ,rev5ue ,code ( #aihf7    
if-- 7,a7 su* contribution-- 7i7 is paid

 dur+ ! p]iod beg9n+ on ,april #bd1     
#bjbd1 & end+ on ,decemb] #ca1 #bjbd1 9 
ca% to an organization describ$ 9       
section #agj7;b77#a77;,a7 ( su* ,code1 &
  7ii7 is made = relief ef=ts 9 ! ,i[a  
disa/] area1  7,b7 ! taxpay] obta9s f   
su* organization contemporane\s writt5  
ackn[l$gm5t 7)9 ! mean+ ( section       
#agj7;f77#h7 ( su* ,code7 t su*         
contribution 0 us$ 7or is to be us$7 =  
relief ef=ts describ$ 9 clause          
7i77,,ii71 &  7,c7 ! taxpay] has elect$ 
! application ( ?is subsection ) respect
 to su* contribution4  7#b7 ,i[a disa/] 
area ,= purposes ( p>agraph 7#a71 ! t]m 
,i[a disa/] area has ! mean+ giv5 su*   
t]m 9 section #b7;a77#d77;,b74  7#c7    
,exception ,su* t]m %all n include a    
contribution by a donor if !            
contribution is-- 7,a7 to an            
organization describ$ 9 section         
#eji7;a77#c7 ( ! ,int]nal ,rev5ue ,code 
( #aihf1 or  7,b7 = ! e/abli%m5t ( a    
new1 or ma9t5ance ( an exi/+1 donor     
advis$ fund 7z def9$ 9 section          

#diff7;d77#b7 ( su* ,code74  7#d7       
,application ( election to p>tn]%ips &  
,s corporations ,9 ! case ( a p>tn]%ip  
or ,s corporation1 ! election "u        
subp>agraph 7,a77iii7 %all be made      
sep>ately by ea* p>tn] or %>ehold]4