,,ii  #aah? ,,congress  #a/ ,session    
,s4 #aidd  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,june #ac1 #bjbc,mrs4  
,blackburn 7= h]self1 ,mr4 ,re$1 ,ms4   
,coll9s1 ,mr4 ,casey1 ,mr4 ,da9es1 &    
,mrs4 ,%ahe57 introduc$ ! foll[+ bill2  
:i* 0 read twice & ref]r$ to !          
,committee on ,f9ance  ,a ,,bill  ,to   
exempt grants receiv$ "u ! ,coronavirus 
,economic ,relief = ,transportation     
,s]vices 7,,c]ts7 ,act f ,f$]al         
taxation4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,,c]ts ,tax ,exemption     
,act4  #b4 ,exemption ( grants f        
taxation  7a7 ,9 g5]al ,section #dba ( !
 ,coronavirus ,economic ,relief =       
,transportation ,s]vices ,act 7#ae      
,u4,s4,c4 #iaaa7 is am5d$ by add+ at !  
end ! foll[+ new subsection3  7g7 ,tax  
treatm5t ,= purposes ( ! ,int]nal       
,rev5ue ,code ( #aihf-- 7#a7 no am\nt   
%all be includ$ 9 ! gross income ( !    
eligible provid] ( transportation       
s]vices by reason ( a grant "u ?is      
section1  7#b7 no d$uction %all be d5i$1

 no tax attribute %all be r$uc$1 & no   
basis increase %all be d5i$1 by reason (
 ! exclusion f gross income provid$ by  
p>agraph 7#a71 &  7#c7 9 ! case ( an    
eligible provid] ( transportation       
s]vices :i* is a p>tn]%ip or ,s         
corporation-- 7,a7 any am\nt exclud$ f  
income by reason ( p>agraph 7#a7 %all be
 treat$ z tax exempt income = purposes (
 sections #gje & #acff ( su* ,code1 &   
7,b7 except z provid$ by ! ,secret>y ( !
 ,treasury 7or ! ,secret>y's delegate71 
any increase 9 ! adju/$ basis ( a       
p>tn]'s int]e/ 9 a p>tn]%ip "u section  
#gje ( su* ,code ) respect to any am\nt 
describ$ 9 subp>agraph 7,a7 %all equal !
 p>tn]'s di/ributive %>e ( d$uctions    
result+ f co/s describ$ 9 subsection 7d7
 :i* are paid us+ a grant "u ?is        
section4  4  7b7 ,effective date ,!     
am5dm5t made by ?is section %all apply  
to taxable ye>s end+ aft] ! date ( !    
enactm5t ( ! ,coronavirus ,economic     
,relief = ,transportation ,s]vices ,act4