,,ii  #aahth ,,congress  #ast ,session  
,s4 #aidd  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,june #ac1     
#bjbc,mrs4 ,blackburn 7for herself1 ,mr4
 ,reed1 ,ms4 ,collins1 ,mr4 ,casey1 ,mr4
 ,daines1 and ,mrs4 ,shaheen7 introduced
 the following bill2 which was read     
twice and referred to the ,committee on 
,finance  ,a ,,bill  ,to exempt grants  
received under the ,coronavirus         
,economic ,relief for ,transportation   
,services 7,,certs7 ,act from ,federal  
taxation4  #a4 ,short title ,this ,act  
may be cited as the ,,certs ,tax        
,exemption ,act4  #b4 ,exemption of     
grants from taxation  7a7 ,in general   
,section #dba of the ,coronavirus       
,economic ,relief for ,transportation   
,services ,act 7#ae ,u4,s4,c4 #iaaa7 is 
amended by adding at the end the        
following new subsection3  7g7 ,tax     
treatment ,for purposes of the ,internal
 ,revenue ,code of #aihf-- 7#a7 no      
amount shall be included in the gross   
income of the eligible provider of      

transportation services by reason of a  
grant under this section1  7#b7 no      
deduction shall be denied1 no tax       
attribute shall be reduced1 and no basis
 increase shall be denied1 by reason of 
the exclusion from gross income provided
 by paragraph 7#a71 and  7#c7 in the    
case of an eligible provider of         
transportation services which is a      
partnership or ,s corporation-- 7,a7 any
 amount excluded from income by reason  
of paragraph 7#a7 shall be treated as   
tax exempt income for purposes of       
sections #gje and #acff of such ,code1  
and  7,b7 except as provided by the     
,secretary of the ,treasury 7or the     
,secretary's delegate71 any increase in 
the adjusted basis of a partner's       
interest in a partnership under section 
#gje of such ,code with respect to any  
amount described in subparagraph 7,a7   
shall equal the partner's distributive  
share of deductions resulting from costs
 described in subsection 7d7 which are  
paid using a grant under this section4  

4  7b7 ,effective date ,the amendment   
made by this section shall apply to     
taxable years ending after the date of  
the enactment of the ,coronavirus       
,economic ,relief for ,transportation   
,services ,act4