,i  #aai? ,,congress  #b;d ,session  ,h4
 ,r4 #ajjfj  ,,9 ,,! ,,h\se ,,(         
,,repres5tatives  ,augu/ #f1 #bjbf,mr4  
,neal 7= himself1 ,mr4 ,doggett1 ,mr4   
,?ompson ( ,cali=nia1 ,mr4 ,l>son (     
,connecticut1 ,mr4 ,davis ( ,ill9ois1   
,ms4 ,sn*ez1 ,ms4 ,sewell1 ,ms4         
,del,bene1 ,ms4 ,*u1 ,ms4 ,moore (      
,wiscons91 ,mr4 ,boyle ( ,p5nsylvania1  
,mr4 ,bey]1 ,mr4 ,evans ( ,p5nsylvania1 
,mr4 ,s*neid]1 ,mr4 ,panetta1 ,mr4      
,gomez1 ,mr4 ,hors=d1 ,ms4 ,plaskett1 & 
,mr4 ,suozzi7 introduc$ ! foll[+ bill2  
:i* 0 ref]r$ to ! ,committee on ,ways & 
,means  ,a ,,bill  ,to am5d ! ,int]nal  
,rev5ue ,code ( #aihf to prohibit ord]s 
or agreem5ts relat+ to ! release ( tax  
claims by ! ,presid5t & relat$ p]sons1 &
 = o!r purposes4  #a4 ,%ort title ,?is  
,act may be cit$ z ! ,presid5tial ,tax  
,acc\ntability & ,audit ,integrity ,act4
  #b4 ,prohibition on ord]s or agreem5ts
 relat+ to release ( tax claims by !    
,presid5t & relat$ p]sons  7a7          
,prohibition  7#a7 ,9 g5]al ,*apt] #gd (

 ! ,int]nal ,rev5ue ,code ( #aihf is    
am5d$ by r$esignat+ section #gabd z     
section #gabe & by ins]t+ aft] section  
#gabc ! foll[+ new section3  #gabd4     
,prohibit$ ord]s & agreem5ts  7a7 ,g5]al
 rule ,! ,secret>y-- 7#a7 is n au?oriz$ 
to ent] into1 grant1 or make any cov]$  
in/rum5t aft] ! date ( ! enactm5t ( ?is 
section1 &  7#b7 %all give no effect to 
any cov]$ in/rum5t 9 adm9i/]+ & en=c+ ! 
int]nal rev5ue laws4  7b7 ,cov]$        
in/rum5t ,= purposes ( ?is section1 !   
t]m cov]$ in/rum5t means any t]m ( any  
agreem5t1 ord]1 waiv]1 release1 add5dum1
 in/ruction1 or simil> in/rum5t :i*--   
7#a7 purports to affect any ,f$]al tax  
matt] involv+-- 7,a7 ! ,presid5t1  7,b7 
any individual :o be>s a relation%ip    
describ$ 9 section #aeb7;d77#b7 to !    
individual describ$ 9 subp>agraph 7,a71 
or  7,c7 any p]son relat$ to any p]son  
describ$ 9 subp>agraph 7,a7 or 7,b71 &  
7#b7 is ent]$ into1 grant$1 or made dur+
 ! p]iod ! individual describ$ 9        
p>agraph 7#a77;,a7 is s]v+ z ,presid5t4 

7c7 ,relat$ p]sons ,= purposes (        
subsection 7b77#a77;,c71 a p]son %all be
 treat$ z relat$ to ano!r p]son if--    
7#a7 ! relation%ip betwe5 su* p]sons    
w\ld result 9 ! disall[ance ( losses "u 
section #bfg or #gjg7;b7 7b1 9 apply+   
subsections 7b7 & 7c7 ( section #bfg =  
purposes ( ?is section1 p>agraph 7#d7 ( 
section #bfg7;c7 %all be treat$ z       
provid+ t ! family ( an individual %all 
include all individuals describ$ 9      
subsection 7b77#a77;,b771 or  7#b7 su*  
o!r p]son & su* p]son are engag$ 9      
trades or bus9esses "u common control   
7)9 ! mean+ ( subsections 7a7 & 7b7 (   
section #eb74  7d7 ,report+  7#a7 ,9    
g5]al ,! ,secret>y %all submit to       
,congress & make publicly available     
reports disclos+ ! id5tity ( ! taxpay]s 
to :om a cov]$ in/rum5t applies & any   
actions tak5 to comply ) ! requirem5ts (
 ?is section 7includ+ any action tak5 to
 adm9i/] or en=ce any tax to :i* ! cov]$
 in/rum5t applies ) respect to su*      
taxpay]s74  7#b7 ,tim+ ( reports        

,reports requir$ "u p>agraph 7#a7 %all  
be made--  7,a7 n lat] ?an #g days aft] 
! date ! cov]$ in/rum5t is ent]$ into1  
grant$1 or made 7or1 9 ! case ( any     
cov]$ in/rum5t ent]$ into1 grant$1 or   
made be=e ! date ( ! enactm5t ( ?is     
section1 n lat] ?an #g days aft] su*    
date ( enactm5t71 &  7,b7 e #cj days    
!reaft]1 end+ ) ! e>li] (--  7i7 ! close
 ( ! fir/ #cj-;day p]iod end+ aft] !    
date t is #c ye>s aft] ! conclusion ( ! 
t]m 9 (fice z ,presid5t ( ! individual  
describ$ 9 subsection 7b77#a77;,a71 or  
7ii7 ! close ( ! fir/ #cj-;day p]iod    
end+ aft] ! date ! cov]$ in/rum5t is    
resc9d$4  4  7#b7 ,au?ority to disclose 
in=mation  7,a7 ,9 g5]al ,section       
#fajc7k7 ( ! ,int]nal ,rev5ue ,code (   
#aihf is am5d$ by add+ at ! end ! foll[+
 new p>agraph3  7#af7 ,disclosures      
relat$ to cov]$ in/rum5ts ,return       
in=mation may be disclos$ to memb]s ( ! 
g5]al public to ! ext5t necess>y to c>ry
 out ! requirem5ts ( section #gabd7;d74 
4  7,b7 ,con=m+ am5dm5t ,section        

#fajc7p77#c77;,a7 ( su* ,code is am5d$  
by /rik+ or 7#i7 & ins]t+ 7#i71 or      
7#af74  7#c7 ,cl]ical am5dm5t ,! table (
 sections = *apt] #gd ( ! ,int]nal      
,rev5ue ,code ( #aihf is am5d$ by       
r$esignat+ ! item relat+ to section     
#gabd z relat+ to section #gabe & ins]t+
 aft] ! item relat+ to section #gabc !  
foll[+ new item3  ,sec4 #gabd4          
,prohibit$ ord]s & agreem5ts4  4  7b7   
,special rules = prior in/rum5ts  7#a7  
,9 g5]al ,9 ! case ( any applicable     
p]son1 ! p]iod = assessm5t = any        
applicable tax1 or = br++ a proce$+ 9   
c\rt = collection )\t assessm5t ( su*   
tax1 %all n expire at any "t be=e ! lat]
 (-- 7,a7 ! date t is #c ye>s aft] !    
conclusion ( ! t]m 9 (fice z ,presid5t (
 ! individual describ$ 9 section        
#gabd7;b77#a77;,a7 ( ! ,int]nal ,rev5ue 
,code 7z add$ by ?is section7 ) respect 
to a cov]$ in/rum5t describ$ 9 p>agraph 
7#b71 or  7,b7 ! date o!rwise provid$ "u
 section #feja ( su* ,code4  7#b7       
,applicable p]son ,= purposes ( ?is     

subsection1 ! t]m applicable p]son means
 any p]son describ$ 9 section           
#gabd7;b77#a7 ( ! ,int]nal ,rev5ue ,code
 ( #aihf 7z add$ by ?is section7 ^:     
,f$]al taxes are affect$ by a cov]$     
in/rum5t ent]$ into1 grant$1 or made    
aft] ,janu>y #bj1 #bjbe1 & be=e ! date (
 ! enactm5t ( ?is ,act4  7#c7           
,applicable tax ,= purposes ( ?is       
subsection1 ! t]m applicable tax means  
any tax impos$ "u ! ,int]nal ,rev5ue    
,code ( #aihf & = :i* ! p]iod =         
assessm5t or = br++ a proce$+ 9 c\rt =  
collection ( su* tax 7det]m9$ )\t reg>d 
to ?is subsection7 has n expir$ be=e !  
date on :i* ! cov]$ in/rum5t describ$ 9 
p>agraph 7#b7 0 ent]$ into1 grant$1 or  
made4  7#d7 ,cov]$ in/rum5t ,= purposes 
( ?is subsection1 ! t]m cov]$ in/rum5t  
has ! mean+ giv5 su* t]m "u section     
#gabd7;b7 ( ! ,int]nal ,rev5ue ,code (  
#aihf1 z add$ by ?is section4  7c7      
,effective date  7#a7 ,prohibition      
,except z provid$ 9 p>agraph 7#b71 !    
am5dm5ts made by ?is section %all apply 

to cov]$ in/rum5ts 7z def9$ 9 section   
#gabd ( ! ,int]nal ,rev5ue ,code (      
#aihf1 z add$ by subsection 7a77 ent]$  
into1 grant$1 or made be=e1 on1 or aft] 
,janu>y #bj1 #bjbe4  7#b7 ,disclosure ,!
 am5dm5ts made by subsection 7a77#b7    
%all apply to disclosures made aft] !   
date ( ! enactm5t ( ?is ,act4  7d7 ,no  
inf]5ce ,no?+ 9 ?is section or !        
am5dm5ts made by ?is section %all be    
con/ru$ to create any inf]5ce t a cov]$ 
in/rum5t 7z def9$ 9 section #gabd7;b7 ( 
! ,int]nal ,rev5ue ,code ( #aihf 7z add$
 by ?is section77 is o!rwise valid or   
en=ceable not)/&+ ! am5dm5ts made by ?is
 section4