S. 2549 (105th): A bill to provide that no Federal income tax shall be imposed on amounts received by Holocaust ...

...victims.

105th Congress, 1997–1998. Text as of Oct 05, 1998 (Introduced).

Status & Summary | PDF | Source: GPO

S 2549 IS

105th CONGRESS

2d Session

S. 2549

To provide that no Federal income tax shall be imposed on amounts received by Holocaust victims.

IN THE SENATE OF THE UNITED STATES

October 5 (legislative day, OCTOBER 2), 1998

Mr. D’AMATO introduced the following bill; which was read twice and referred to the Committee on Finance


A BILL

To provide that no Federal income tax shall be imposed on amounts received by Holocaust victims.

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

SECTION 1. NO TAX ON AMOUNTS RECEIVED BY HOLOCAUST VICTIMS.

    (a) IN GENERAL- For purposes of the Internal Revenue Code of 1986, gross income shall not include any amount received by an individual from any person as a result of a settlement or adjudication in the individual’s favor arising out of any moral or legal injustice experienced by the individual as a Holocaust victim, including any amount received from the Swiss Humanitarian Fund established by the Government of Switzerland.

    (b) EFFECTIVE DATE- This section shall apply to amounts received in taxable years beginning before, on, or after the date of the enactment of this Act.