,i  #aai? ,,congress  #b;d ,session  ,h4
 ,r4 #iejj  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,june #bi1 #bjbf,mr4  
,mill] ( ,ohio 7= himself & ,mr4        
,suozzi7 introduc$ ! foll[+ bill2 :i* 0 
ref]r$ to ! ,committee on ,ways & ,means
  ,a ,,bill  ,to am5d ! ,int]nal ,rev5ue
 ,code ( #aihf to repeal ! limitation on
 d$uctions = p]sonal casualty losses &  
to provide = increas$ taxpay] relief )  
respect to !ft losses involv+ fraud1    
deceit1 or misrepres5tation4  #a4 ,%ort 
title ,?is ,act may be cit$ z ! ,tax    
,relief = ,fraud ,victims ,act4  #b4    
,repeal ( limitation on d$uctions =     
p]sonal casualty losses2 increas$       
taxpay] relief ) respect to c]ta9 !ft   
losses  7a7 ,repeal ( limitation on     
d$uctions = p]sonal casualty losses     
,section #afe7;h7 ( ! ,int]nal ,rev5ue  
,code ( #aihf is am5d$ by /rik+ p>agraph
 7#e74  7b7 ,c]ta9 !ft losses su/a9$    
dur+ taxable ye> ( *oice2 ext5sion (    
p]iod ( limitation = cr$it or refund    
claims = c]ta9 !ft losses  7#a7 ,c]ta9  

!ft losses su/a9$ dur+ taxable ye> (    
*oice ,section #afe7;e7 ( su* ,code is  
am5d$ to read z foll[s3  7e7 ,!ft losses
 ,= purposes ( subsection 7a7--  7#a7 ,9
 g5]al ,except z provid$ 9 p>agraph     
7#b71 any loss aris+ f !ft %all be      
treat$ z su/a9$ dur+ ! taxable ye> 9 :i*
 ! taxpay] discov]s su* loss4  7#b7 ,!ft
 losses involv+ fraud1 deceit1 or       
misrepres5tation ,9 ! case ( any loss   
aris+ f !ft involv+ fraud1 deceit1 or   
misrepres5tation 7z def9$ by !          
,secret>y71 ! taxpay] may elect to treat
 su* loss z su/a9$ dur+ ! taxable ye> 9 
:i* su* loss occurs4  4  7#b7 ,ext5sion 
( p]iod ( limitation = cr$it or refund  
claims = c]ta9 !ft losses ,section      
#afe7;h77#d7 ( su* ,code is am5d$ by    
add+ at ! end ! foll[+ new subp>agraph3 
7,f7 ,p]iod ( limitation = cr$it or     
refund claims = !ft losses involv+      
fraud1 deceit1 or misrepres5tation ,9 ! 
case ( a claim = cr$it or refund )      
respect to a d$uction all[$ "u          
subsection 7a7 = any loss aris+ f !ft   

involv+ fraud1 deceit1 or               
misrepres5tation--  7i7 ! p]iod (       
limitation prescrib$ by section         
#feaa7;a7 = ! fil+ ( su* claim %all be  
treat$ z n expir+ e>li] ?an ! date t is 
#a ye> aft] ! date on :i* ! taxpay]     
discov]s su* loss1 &  7ii7 section      
#feaa7;b77#b7 %all n apply ) respect to 
! fil+ ( su* claim4  4  7c7             
,di/ributions relat+ to !ft losses      
involv+ fraud1 deceit1 or               
misrepres5tation ,section #gb7t77#b7 (  
su* ,code is am5d$ by add+ at ! end !   
foll[+ new subp>agraph3  7,o7           
,di/ributions relat+ to !ft losses      
involv+ fraud1 deceit1 or               
misrepres5tation  7i7 ,9 g5]al ,any     
di/ribution to ! ext5t x relates to any 
loss aris+ f !ft involv+ fraud1 deceit1 
or misrepres5tation = :i* a d$uction is 
all[$ "u section #afe7;a74  7ii7 ,am\nt 
di/ribut$ may be repaid ,rules simil> to
 ! rules ( subp>agraph 7,h77v7 %all     
apply ) respect to an individual :o     
receives a di/ribution to :i* clause 7i7

 applies1 except t subp>agraph          
7,h77v77,i7 %all be appli$ by sub/itut+ 
#a-ye> p]iod beg9n+ on ! day aft] ! date
 on :i* ! taxpay] discov]s ! loss       
describ$ 9 subp>agraph 7,o77i7 = #c-ye> 
p]iod beg9n+ on ! day aft] ! date on :i*
 su* di/ribution 0 receiv$4  7iii7      
,p]iod ( limitation = cr$it or refund   
claims ,9 ! case ( a claim = cr$it or   
refund ( ! tax impos$ by p>agraph 7#a7 )
 respect to a di/ribution describ$ 9    
clause 7i7--  7,i7 ! p]iod ( limitation 
prescrib$ by section #feaa7;a7 = ! fil+ 
( su* claim %all be treat$ z n expir+   
e>li] ?an ! date t is #a ye> aft] ! date
 on :i* ! taxpay] discov]s ! loss       
describ$ 9 clause 7i71 &  7,,ii7 section
 #feaa7;b77#b7 %all n apply ) respect to
 ! fil+ ( su* claim4  4  7d7 ,cross     
ref]5ce ,section #feaa7;i7 ( su* ,code  
is am5d$ by add+ at ! end ! foll[+ new  
p>agraph3  7#h7 ,= a p]iod ( limitations
 = cr$it or refund 9 ! case ( !ft losses
 involv+ fraud1 deceit1 or              
misrepres5tation1 see sections          

#gb7t77#b77,o77iii7 & #afe7;h77#d77;,f74
  4  7e7 ,effective dates  7#a7 ,9 g5]al
 ,except z provid$ 9 ?is subsection1 !  
am5dm5ts made by ?is subsection %all    
apply to losses su/a9$ 9 taxable ye>s   
beg9n+ aft] ,decemb] #ca1 #bjbe4  7#b7  
,di/ributions relat+ to !ft losses      
involv+ fraud1 deceit1 or               
misrepres5tation ,! am5dm5t made by     
subsection 7c7 %all apply to            
di/ributions made aft] ,decemb] #ca1    
#bjbe4  7#c7 ,pyrrhotite-relat$ p]sonal 
casualty losses  7,a7 ,9 g5]al ,9 ! case
 ( any pyrrhotite-relat$ p]sonal        
casualty loss1 p>agraph 7#a7 %all be    
appli$ by sub/itut+ ,decemb] #ca1 #bjbj 
= ,decemb] #ca1 #bjbe4  7,b7            
,pyrrhotite-relat$ p]sonal casualty loss
 ,= purposes ( ?is p>agraph1 ! t]m      
pyrrhotite-relat$ p]sonal casualty loss 
means any p]sonal casualty loss 7z def9$
 9 section #afe7;h77#c77;,b7 ( !        
,int]nal ,rev5ue ,code ( #aihf7 aris+ 9 
connection ) damage to a pr9cipal       
resid5ce 7)9 ! mean+ ( section #aba (   

su* ,code7 by reason ( det]ioration ( a 
concrete f\ndation adv]sely impact$ by  
pyrrhotite4  7,c7 ,ext5sion ( p]iod (   
limitation = cr$it or refund claims =   
pyrrhotite-relat$ p]sonal casualty      
losses ,9 ! case ( a claim = cr$it or   
refund ) respect to a d$uction all[$ "u 
section #afe7;a7 ( ! ,int]nal ,rev5ue   
,code ( #aihf by reason ( subp>agraph   
7,a7 = any pyrrhotite-relat$ p]sonal    
casualty loss-- 7i7 ! p]iod ( limitation
 prescrib$ by section #feaa7;a7 ( su*   
,code = ! fil+ ( su* claim %all be      
treat$ z n expir+ e>li] ?an ! date t is 
#a ye> aft] ! date ( ! enactm5t ( ?is   
section1 &  7ii7 section #feaa7;b77#b7 (
 su* ,code %all n apply ) respect to !  
fil+ ( su* claim4