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Text of the Civil War Battlefields Preservation Tax Incentives Act of 1994

This bill was introduced on July 25, 1994, in a previous session of Congress, but was not enacted. The text of the bill below is as of Jul 15, 1994 (Introduced).

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HR 4823 IH

103d CONGRESS

2d Session

H. R. 4823

To amend the Internal Revenue Code of 1986 to encourage the preservation of Civil War battlefields for public purposes.

IN THE HOUSE OF REPRESENTATIVES

July 15, 1994

Mr. ANDREWS of Texas introduced the following bill; which was referred to the Committee on Ways and Means


A BILL

To amend the Internal Revenue Code of 1986 to encourage the preservation of Civil War battlefields for public purposes.

    Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ‘Civil War Battlefields Preservation Tax Incentives Act of 1994’.

SEC. 2. DEDUCTION FROM GROSS ESTATE FOR TRANSFER BY HEIR OF QUALIFIED CONSERVATION EASEMENT ON LAND WITHIN A CIVIL WAR BATTLEFIELD SITE.

    (a) IN GENERAL- Section 2055 of the Internal Revenue Code of 1986 (relating to transfers for public, charitable, and religious uses) is amended by redesignating subsection (g) as subsection (h) and by inserting after subsection (f) the following new subsection:

    ‘(g) TRANSFER BY HEIR OF QUALIFIED CONSERVATION EASEMENT ON LAND WITHIN CIVIL WAR BATTLEFIELD SITE-

      ‘(1) IN GENERAL- For purposes of this section, if--

        ‘(A) the gross estate of a decedent includes real property located within an area designated as a Civil War battlefield by the Civil War Sites Advisory Commission,

        ‘(B) within 9 months after the date of death of the decedent, the person who acquired the property from the decedent (or to whom such property passed from the decedent) transfers a qualified real property interest in such property, and

        ‘(C) the executor and the person referred to in subparagraph (B) jointly elect the application of this paragraph to such transfer,

      such transfer shall be treated as a bequest of the decedent.

      ‘(2) QUALIFIED REAL PROPERTY INTEREST- For purposes of this subsection, the term ‘qualified real property interest’ means any qualified real property interest (as defined in section 170(h)(2)(C)) which meets the requirements of section 170(h).

      ‘(3) DENIAL OF DOUBLE BENEFIT- No deduction or credit shall be allowed under any other provision of this title for any transfer to which the election under paragraph (1) applies.’

    (b) EFFECTIVE DATE- The amendment made by this section shall apply to transfers referred to in section 2055(g)(1)(B) of the Internal Revenue Code of 1986 (as added by this Act) after the date of the enactment of this Act.

SEC. 3. DOLLAR LIMITATION ON SPECIAL ESTATE TAX VALUATION FOR FARM PROPERTY NOT TO APPLY TO PROPERTY WITHIN CIVIL WAR BATTLEFIELD SITE.

    (a) IN GENERAL- Paragraph (2) of section 2032A(a) of the Internal Revenue Code of 1986 (relating to valuation of certain farm, etc., real property) is amended by adding at the end thereof the following new sentence: ‘The preceding sentence shall be applied without regard to any such property which is within an area designated as a Civil War battlefield by the Civil War Sites Advisory Commission.’

    (b) EFFECTIVE DATE- The amendment made by subsection (a) shall apply to estates of decedents dying after the date of the enactment of this Act.

SEC. 4. CREDIT FOR CHARITABLE CONTRIBUTION OF CERTAIN INTERESTS IN CIVIL WAR BATTLEFIELD SITES.

    (a) IN GENERAL- Subpart A of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 (relating to nonrefundable personal credits) is amended by inserting after section 22 the following new section:

‘SEC. 23. CREDIT FOR CHARITABLE CONTRIBUTION OF CERTAIN INTERESTS IN CIVIL WAR BATTLEFIELD SITES.

    ‘(a) IN GENERAL- In the case of an individual, there shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to 50 percent of the amount of any qualified Civil War battlefield contribution which is made during such taxable year.

    ‘(b) QUALIFIED CIVIL WAR BATTLEFIELD CONTRIBUTION- For purposes of this section--

      ‘(1) IN GENERAL- The term ‘qualified Civil War battlefield contribution’ means any qualified conservation contribution (as defined in section 170(h)) if the real property referred to in section 170(h)(2) is real property within an area designated as a Civil War battlefield by the Civil War Sites Advisory Commission.

      ‘(2) AMOUNT OF CONTRIBUTION- The amount of any qualified Civil War battlefield contribution is the amount which would (but for subsection (c)) be allowed as a deduction under 170 for such contribution (determined without regard to section 170(b)).

    ‘(c) DENIAL OF DOUBLE BENEFIT- No deduction shall be allowed under this chapter for any contribution for which is credit is allowed under this section.’

    (b) CLERICAL AMENDMENT- The table of sections for such subpart A is amended by inserting after the item relating to section 22 the following new item:

‘Sec. 23. Credit for charitable contribution of certain interests in Civil War battlefield sites.’

    (c) EFFECTIVE DATE- The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.