HR 2938 IH
107th CONGRESS
1st Session
H. R. 2938
To amend the Internal Revenue Code of 1986 to allow taxpayers to designate any portion of their income tax overpayments, and to make other contributions, for the benefit of victims of the terrorist attacks on September 11, 2001, and for counter-terrorism efforts.
IN THE HOUSE OF REPRESENTATIVES
September 21, 2001
Mr. HEFLEY introduced the following bill; which was referred to the Committee on Ways and Means, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned
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A BILL
To amend the Internal Revenue Code of 1986 to allow taxpayers to designate any portion of their income tax overpayments, and to make other contributions, for the benefit of victims of the terrorist attacks on September 11, 2001, and for counter-terrorism efforts.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. DESIGNATION OF OVERPAYMENTS AND CONTRIBUTIONS FOR TERRORISM RELIEF AND COUNTER-TERRORISM EFFORTS.
(a) IN GENERAL- Subchapter A of chapter 61 of the Internal Revenue Code of 1986 is amended by adding at the end the following new part:
`PART IX--DESIGNATION OF OVERPAYMENTS AND CONTRIBUTIONS FOR TERRORISM RELIEF AND COUNTER-TERRORISM EFFORTS
`Sec. 6097. Designation.
`SEC. 6097. DESIGNATION.
`(a) IN GENERAL- With respect to each taxpayer's return for the taxable year of the tax imposed by chapter 1, such taxpayer may designate that--
`(1) a specified portion (but not less than $1) of any overpayment of tax for such taxable year, and
`(2) any cash contribution which the taxpayer includes with such return,
shall be deposited into the Terrorism Relief and Counter-Terrorism Trust Fund.
`(b) MANNER AND TIME OF DESIGNATION- A designation under subsection (a) may be made with respect to any taxable year only at the time of filing the return of the tax imposed by chapter 1 for such taxable year. Such designation shall be made in such manner as the Secretary prescribes by regulations except that such designation shall be made either on the first page of the return or on the page bearing the taxpayer's signature.
`(c) OVERPAYMENTS TREATED AS REFUNDED- For purposes of this title, any portion of an overpayment of tax designated under subsection (a) shall be treated as being refunded to the taxpayer as of the last date prescribed for filing the return of tax imposed by chapter 1 (determined without regard to extensions) or, if later, the date the return is filed.'
(b) CLERICAL AMENDMENT- The table of parts for subchapter A of chapter 61 of such Code is amended by adding at the end thereof the following new item:
`Part IX. Designation of overpayments and contributions for terrorism relief and counter-terrorism efforts.'
(c) EFFECTIVE DATE- The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.
SEC. 2. TERRORISM RELIEF AND COUNTER-TERRORISM TRUST FUND.
(a) IN GENERAL- Subchapter A of chapter 98 of the Internal Revenue Code of 1986 (relating to trust fund code) is amended by adding at the end the following new section:
`SEC. 9511. TERRORISM RELIEF AND COUNTER-TERRORISM TRUST FUND.
`(a) CREATION OF TRUST FUND- There is established in the Treasury of the United States a trust fund to be known as the `Terrorism Relief and Counter-Terrorism Trust Fund', consisting of such amounts as may be appropriated or credited to the Terrorism Relief and Counter-Terrorism Trust Fund as provided in this section or section 9602(b).
`(b) TRANSFER TO TERRORISM RELIEF AND COUNTER-TERRORISM TRUST FUND OF AMOUNTS DESIGNATED- There is hereby appropriated to the Terrorism Relief and Counter-Terrorism Trust Fund amounts equivalent to the amounts designated under section 6097 and received in the Treasury.
`(c) Expenditures From Trust Fund-
`(1) IN GENERAL- Amounts in the Terrorism Relief and Counter-Terrorism Trust Fund shall be available, as provided in appropriation Acts, for purposes of--
`(A) providing assistance to the victims of the terrorists attacks against the United States on September 11, 2001, and to the families of such victims, and
`(B) making expenditures for counter-terrorism efforts by the United States.
`(2) ADMINISTRATIVE EXPENSES- Amounts in the Terrorism Relief and Counter-Terrorism Trust Fund shall be available to pay the administrative expenses of the Department of the Treasury directly allocable to--
`(A) modifying the income tax return forms to carry out section 6097,
`(B) carrying out this chapter with respect to such Fund, and
`(C) processing amounts received under section 6097 and transferring such amounts to such Fund.'
(b) CLERICAL AMENDMENT- The table of sections for such subchapter A is amended by adding at the end the following new item:
`Sec. 9511. Terrorism Relief and Counter-Terrorism Trust Fund.'
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