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Thursday, October 2, 2008, 3:00 AM H.R. 1424: Bailout Bill, Part 15
14 ``(1) APPOINTMENT AND TERM.--
15 ``(A) IN GENERAL.--The Secretary con-
16 cerned, shall appoint the members of resource
17 advisory committees for a term of 4 years be-
18 ginning on the date of appointment.
19 ``(B) REAPPOINTMENT.--The Secretary
20 concerned may reappoint members to subse-
21 quent 4-year terms.
22 ``(2) BASIC REQUIREMENTS.--The Secretary
23 concerned shall ensure that each resource advisory
24 committee established meets the requirements of
25 subsection (d).
379
1 ``(3) INITIAL APPOINTMENT.--Not later than
2 180 days after the date of the enactment of this Act,
3 the Secretary concerned shall make initial appoint-
4 ments to the resource advisory committees.
5 ``(4) VACANCIES.--The Secretary concerned
6 shall make appointments to fill vacancies on any re-
7 source advisory committee as soon as practicable
8 after the vacancy has occurred.
9 ``(5) COMPENSATION.--Members of the re-
10 source advisory committees shall not receive any
11 compensation.
12 ``(d) COMPOSITION OF ADVISORY COMMITTEE.--
13 ``(1) NUMBER.--Each resource advisory com-
14 mittee shall be comprised of 15 members.
15 ``(2) COMMUNITY INTERESTS REPRESENTED.--
16 Committee members shall be representative of the
17 interests of the following 3 categories:
18 ``(A) 5 persons that--
19 ``(i) represent organized labor or non-
20 timber forest product harvester groups;
21 ``(ii) represent developed outdoor
22 recreation, off highway vehicle users, or
23 commercial recreation activities;
24 ``(iii) represent--
380
1 ``(I) energy and mineral develop-
2 ment interests; or
3 ``(II) commercial or recreational
4 fishing interests;
5 ``(iv) represent the commercial timber
6 industry; or
7 ``(v) hold Federal grazing or other
8 land use permits, or represent nonindus-
9 trial private forest land owners, within the
10 area for which the committee is organized.
11 ``(B) 5 persons that represent--
12 ``(i) nationally recognized environ-
13 mental organizations;
14 ``(ii) regionally or locally recognized
15 environmental organizations;
16 ``(iii) dispersed recreational activities;
17 ``(iv) archaeological and historical in-
18 terests; or
19 ``(v) nationally or regionally recog-
20 nized wild horse and burro interest groups,
21 wildlife or hunting organizations, or water-
22 shed associations.
23 ``(C) 5 persons that--
24 ``(i) hold State elected office (or a
25 designee);
381
1 ``(ii) hold county or local elected of-
2 fice;
3 ``(iii) represent American Indian
4 tribes within or adjacent to the area for
5 which the committee is organized;
6 ``(iv) are school officials or teachers;
7 or
8 ``(v) represent the affected public at
9 large.
10 ``(3) BALANCED REPRESENTATION.--In ap-
11 pointing committee members from the 3 categories
12 in paragraph (2), the Secretary concerned shall pro-
13 vide for balanced and broad representation from
14 within each category.
15 ``(4) GEOGRAPHIC DISTRIBUTION.--The mem-
16 bers of a resource advisory committee shall reside
17 within the State in which the committee has juris-
18 diction and, to extent practicable, the Secretary con-
19 cerned shall ensure local representation in each cat-
20 egory in paragraph (2).
21 ``(5) CHAIRPERSON.--A majority on each re-
22 source advisory committee shall select the chair-
23 person of the committee.
24 ``(e) APPROVAL PROCEDURES.--
382
1 ``(1) IN GENERAL.--Subject to paragraph (3),
2 each resource advisory committee shall establish pro-
3 cedures for proposing projects to the Secretary con-
4 cerned under this title.
5 ``(2) QUORUM.--A quorum must be present to
6 constitute an official meeting of the committee.
7 ``(3) APPROVAL BY MAJORITY OF MEMBERS.--
8 A project may be proposed by a resource advisory
9 committee to the Secretary concerned under section
10 203(a), if the project has been approved by a major-
11 ity of members of the committee from each of the
12 3 categories in subsection (d)(2).
13 ``(f) OTHER COMMITTEE AUTHORITIES AND RE -
14 QUIREMENTS.--
15 ``(1) STAFF ASSISTANCE.--A resource advisory
16 committee may submit to the Secretary concerned a
17 request for periodic staff assistance from Federal
18 employees under the jurisdiction of the Secretary.
19 ``(2) MEETINGS.--All meetings of a resource
20 advisory committee shall be announced at least 1
21 week in advance in a local newspaper of record and
22 shall be open to the public.
23 ``(3) RECORDS.--A resource advisory committee
24 shall maintain records of the meetings of the com-
383
1 mittee and make the records available for public in-
2 spection.
3 ``SEC. 206. USE OF PROJECT FUNDS.
4 ``(a) AGREEMENT REGARDING SCHEDULE AND COST
5 OF PROJECT.--
6 ``(1) AGREEMENT BETWEEN PARTIES.--The
7 Secretary concerned may carry out a project sub-
8 mitted by a resource advisory committee under sec-
9 tion 203(a) using project funds or other funds de-
10 scribed in section 203(a)(2), if, as soon as prac-
11 ticable after the issuance of a decision document for
12 the project and the exhaustion of all administrative
13 appeals and judicial review of the project decision,
14 the Secretary concerned and the resource advisory
15 committee enter into an agreement addressing, at a
16 minimum, the following:
17 ``(A) The schedule for completing the
18 project.
19 ``(B) The total cost of the project, includ-
20 ing the level of agency overhead to be assessed
21 against the project.
22 ``(C) For a multiyear project, the esti-
23 mated cost of the project for each of the fiscal
24 years in which it will be carried out.
384
1 ``(D) The remedies for failure of the Sec-
2 retary concerned to comply with the terms of
3 the agreement consistent with current Federal
4 law.
5 ``(2) LIMITED USE OF FEDERAL FUNDS.--The
6 Secretary concerned may decide, at the sole discre-
7 tion of the Secretary concerned, to cover the costs
8 of a portion of an approved project using Federal
9 funds appropriated or otherwise available to the Sec-
10 retary for the same purposes as the project.
11 ``(b) TRANSFER OF PROJECT FUNDS.--
12 ``(1) INITIAL TRANSFER REQUIRED.--As soon
13 as practicable after the agreement is reached under
14 subsection (a) with regard to a project to be funded
15 in whole or in part using project funds, or other
16 funds described in section 203(a)(2), the Secretary
17 concerned shall transfer to the applicable unit of Na-
18 tional Forest System land or Bureau of Land Man-
19 agement District an amount of project funds equal
20 to--
21 ``(A) in the case of a project to be com-
22 pleted in a single fiscal year, the total amount
23 specified in the agreement to be paid using
24 project funds, or other funds described in sec-
25 tion 203(a)(2); or
385
1 ``(B) in the case of a multiyear project, the
2 amount specified in the agreement to be paid
3 using project funds, or other funds described in
4 section 203(a)(2) for the first fiscal year.
5 ``(2) CONDITION ON PROJECT COMMENCE-
6 MENT.--The unit of National Forest System land or
7 Bureau of Land Management District concerned,
8 shall not commence a project until the project funds,
9 or other funds described in section 203(a)(2) re-
10 quired to be transferred under paragraph (1) for the
11 project, have been made available by the Secretary
12 concerned.
13 ``(3) SUBSEQUENT TRANSFERS FOR MULTIYEAR
14 PROJECTS.--
15 ``(A) IN GENERAL.--For the second and
16 subsequent fiscal years of a multiyear project to
17 be funded in whole or in part using project
18 funds, the unit of National Forest System land
19 or Bureau of Land Management District con-
20 cerned shall use the amount of project funds re-
21 quired to continue the project in that fiscal year
22 according to the agreement entered into under
23 subsection (a).
24 ``(B) SUSPENSION OF WORK.--The Sec-
25 retary concerned shall suspend work on the
386
1 project if the project funds required by the
2 agreement in the second and subsequent fiscal
3 years are not available.
4 ``SEC. 207. AVAILABILITY OF PROJECT FUNDS.
5 ``(a) SUBMISSION OF PROPOSED PROJECTS TO OBLI-
6 GATE FUNDS.--By September 30, 2008 (or as soon there-
7 after as the Secretary concerned determines is prac-
8 ticable), and each September 30 thereafter for each suc-
9 ceeding fiscal year through fiscal year 2011, a resource
10 advisory committee shall submit to the Secretary con-
11 cerned pursuant to section 203(a)(1) a sufficient number
12 of project proposals that, if approved, would result in the
13 obligation of at least the full amount of the project funds
14 reserved by the participating county in the preceding fiscal
15 year.
16 ``(b) USE OR TRANSFER OF UNOBLIGATED
17 FUNDS.--Subject to section 208, if a resource advisory
18 committee fails to comply with subsection (a) for a fiscal
19 year, any project funds reserved by the participating coun-
20 ty in the preceding fiscal year and remaining unobligated
21 shall be available for use as part of the project submissions
22 in the next fiscal year.
23 ``(c) EFFECT OF REJECTION OF PROJECTS.--Subject
24 to section 208, any project funds reserved by a partici-
25 pating county in the preceding fiscal year that are unobli-
387
1 gated at the end of a fiscal year because the Secretary
2 concerned has rejected one or more proposed projects shall
3 be available for use as part of the project submissions in
4 the next fiscal year.
5 ``(d) EFFECT OF COURT ORDERS.--
6 ``(1) IN GENERAL.--If an approved project
7 under this Act is enjoined or prohibited by a Federal
8 court, the Secretary concerned shall return the un-
9 obligated project funds related to the project to the
10 participating county or counties that reserved the
11 funds.
12 ``(2) EXPENDITURE OF FUNDS.--The returned
13 funds shall be available for the county to expend in
14 the same manner as the funds reserved by the coun-
15 ty under subparagraph (B) or (C)(i) of section
16 102(d)(1).
17 ``SEC. 208. TERMINATION OF AUTHORITY.
18 ``(a) IN GENERAL.--The authority to initiate projects
19 under this title shall terminate on September 30, 2011.
20 ``(b) DEPOSITS IN TREASURY.--Any project funds
21 not obligated by September 30, 2012, shall be deposited
22 in the Treasury of the United States.
23 ``TITLE III--COUNTY FUNDS
24 ``SEC. 301. DEFINITIONS.
25 ``In this title:
388
1 ``(1) COUNTY FUNDS.--The term `county funds'
2 means all funds an eligible county elects under sec-
3 tion 102(d) to reserve for expenditure in accordance
4 with this title.
5 ``(2) PARTICIPATING COUNTY.--The term `par-
6 ticipating county' means an eligible county that
7 elects under section 102(d) to expend a portion of
8 the Federal funds received under section 102 in ac-
9 cordance with this title.
10 ``SEC. 302. USE.
11 ``(a) AUTHORIZED USES.--A participating county,
12 including any applicable agencies of the participating
13 county, shall use county funds, in accordance with this
14 title, only--
15 ``(1) to carry out activities under the Firewise
16 Communities program to provide to homeowners in
17 fire-sensitive ecosystems education on, and assist-
18 ance with implementing, techniques in home siting,
19 home construction, and home landscaping that can
20 increase the protection of people and property from
21 wildfires;
22 ``(2) to reimburse the participating county for
23 search and rescue and other emergency services, in-
24 cluding firefighting, that are--
389
1 ``(A) performed on Federal land after the
2 date on which the use was approved under sub-
3 section (b);
4 ``(B) paid for by the participating county;
5 and
6 ``(3) to develop community wildfire protection
7 plans in coordination with the appropriate Secretary
8 concerned.
9 ``(b) PROPOSALS.--A participating county shall use
10 county funds for a use described in subsection (a) only
11 after a 45-day public comment period, at the beginning
12 of which the participating county shall--
13 ``(1) publish in any publications of local record
14 a proposal that describes the proposed use of the
15 county funds; and
16 ``(2) submit the proposal to any resource advi-
17 sory committee established under section 205 for the
18 participating county.
19 ``SEC. 303. CERTIFICATION.
20 ``(a) IN GENERAL.--Not later than February 1 of the
21 year after the year in which any county funds were ex-
22 pended by a participating county, the appropriate official
23 of the participating county shall submit to the Secretary
24 concerned a certification that the county funds expended
25 in the applicable year have been used for the uses author-
390
1 ized under section 302(a), including a description of the
2 amounts expended and the uses for which the amounts
3 were expended.
4 ``(b) REVIEW.--The Secretary concerned shall review
5 the certifications submitted under subsection (a) as the
6 Secretary concerned determines to be appropriate.
7 ``SEC. 304. TERMINATION OF AUTHORITY.
8 ``(a) IN GENERAL.--The authority to initiate projects
9 under this title terminates on September 30, 2011.
10 ``(b) AVAILABILITY.--Any county funds not obligated
11 by September 30, 2012, shall be returned to the Treasury
12 of the United States.
13 ``TITLE IV--MISCELLANEOUS
14 PROVISIONS
15 ``SEC. 401. REGULATIONS.
16 ``The Secretary of Agriculture and the Secretary of
17 the Interior shall issue regulations to carry out the pur-
18 poses of this Act.
19 ``SEC. 402. AUTHORIZATION OF APPROPRIATIONS.
20 ``There are authorized to be appropriated such sums
21 as are necessary to carry out this Act for each of fiscal
22 years 2008 through 2011.
23 ``SEC. 403. TREATMENT OF FUNDS AND REVENUES.
24 ``(a) RELATION TO OTHER APPROPRIATIONS.--
25 Funds made available under section 402 and funds made
391
1 available to a Secretary concerned under section 206 shall
2 be in addition to any other annual appropriations for the
3 Forest Service and the Bureau of Land Management.
4 ``(b) DEPOSIT OF REVENUES AND OTHER FUNDS.--
5 All revenues generated from projects pursuant to title II,
6 including any interest accrued from the revenues, shall be
7 deposited in the Treasury of the United States.''.
8 (b) FOREST RECEIPT PAYMENTS TO ELIGIBLE
9 STATES AND COUNTIES.--
10 (1) ACT OF MAY 23, 1908.--The sixth paragraph
11 under the heading ``FOREST SERVICE'' in the Act
12 of May 23, 1908 (16 U.S.C. 500) is amended in the
13 first sentence by striking ``twenty-five percentum''
14 and all that follows through ``shall be paid'' and in-
15 serting the following: ``an amount equal to the an-
16 nual average of 25 percent of all amounts received
17 for the applicable fiscal year and each of the pre-
18 ceding 6 fiscal years from each national forest shall
19 be paid''.
20 (2) WEEKS LAW.--Section 13 of the Act of
21 March 1, 1911 (commonly known as the ``Weeks
22 Law'') (16 U.S.C. 500) is amended in the first sen-
23 tence by striking ``twenty-five percentum'' and all
24 that follows through ``shall be paid'' and inserting
25 the following: ``an amount equal to the annual aver-
392
1 age of 25 percent of all amounts received for the ap-
2 plicable fiscal year and each of the preceding 6 fiscal
3 years from each national forest shall be paid''.
4 (c) PAYMENTS IN LIEU OF TAXES.--
5 (1) IN GENERAL.--Section 6906 of title 31,
6 United States Code, is amended to read as follows:
7 ``§ 6906. Funding
8 ``For each of fiscal years 2008 through 2012--
9 ``(1) each county or other eligible unit of local
10 government shall be entitled to payment under this
11 chapter; and
12 ``(2) sums shall be made available to the Sec-
13 retary of the Interior for obligation or expenditure in
14 accordance with this chapter.''.
15 (2) CONFORMING AMENDMENT.--The table of
16 sections for chapter 69 of title 31, United States
17 Code, is amended by striking the item relating to
18 section 6906 and inserting the following:
``6906. Funding.''.
19 (3) BUDGET SCOREKEEPING.--
20 (A) IN GENERAL.--Notwithstanding the
21 Budget Scorekeeping Guidelines and the accom-
22 panying list of programs and accounts set forth
23 in the joint explanatory statement of the com-
24 mittee of conference accompanying Conference
25 Report 105217, the section in this title re-
393
1 garding Payments in Lieu of Taxes shall be
2 treated in the baseline for purposes of section
3 257 of the Balanced Budget and Emergency
4 Deficit Control Act of 1985 (as in effect prior
5 to September 30, 2002), and by the Chairmen
6 of the House and Senate Budget Committees,
7 as appropriate, for purposes of budget enforce-
8 ment in the House and Senate, and under the
9 Congressional Budget Act of 1974 as if Pay-
10 ment in Lieu of Taxes (14111401806)
11 were an account designated as Appropriated
12 Entitlements and Mandatories for Fiscal Year
13 1997 in the joint explanatory statement of the
14 committee of conference accompanying Con-
15 ference Report 105217.
16 (B) EFFECTIVE DATE.--This paragraph
17 shall remain in effect for the fiscal years to
18 which the entitlement in section 6906 of title
19 31, United States Code (as amended by para-
20 graph (1)), applies.
21 SEC. 602. TRANSFER TO ABANDONED MINE RECLAMATION
22 FUND.
23 Subparagraph (C) of section 402(i)(1) of the Surface
24 Mining Control and Reclamation Act of 1977 (30 U.S.C.
25 1232(i)(1)) is amended by striking ``and $9,000,000 on
394
1 October 1, 2009'' and inserting ``$9,000,000 on October
2 1, 2009, and $9,000,000 on October 1, 2010''.
3 TITLE VII--DISASTER RELIEF
4 Subtitle A--Heartland and
5 Hurricane Ike Disaster Relief
6 SEC. 701. SHORT TITLE.
7 This subtitle may be cited as the ``Heartland Disaster
8 Tax Relief Act of 2008''.
9 SEC. 702. TEMPORARY TAX RELIEF FOR AREAS DAMAGED
10 BY 2008 MIDWESTERN SEVERE STORMS, TOR-
11 NADOS, AND FLOODING.
12 (a) IN GENERAL.--Subject to the modifications de-
13 scribed in this section, the following provisions of or relat-
14 ing to the Internal Revenue Code of 1986 shall apply to
15 any Midwestern disaster area in addition to the areas to
16 which such provisions otherwise apply:
17 (1) GO ZONE BENEFITS.--
18 (A) Section 1400N (relating to tax bene-
19 fits) other than subsections (b), (d), (e), (i), (j),
20 (m), and (o) thereof.
21 (B) Section 1400O (relating to education
22 tax benefits).
23 (C) Section 1400P (relating to housing tax
24 benefits).
395
1 (D) Section 1400Q (relating to special
2 rules for use of retirement funds).
3 (E) Section 1400R(a) (relating to em-
4 ployee retention credit for employers).
5 (F) Section 1400S (relating to additional
6 tax relief) other than subsection (d) thereof.
7 (G) Section 1400T (relating to special
8 rules for mortgage revenue bonds).
9 (2) OTHER BENEFITS INCLUDED IN KATRINA
10 EMERGENCY TAX RELIEF ACT OF 2005.--Sections
11 302, 303, 304, 401, and 405 of the Katrina Emer-
12 gency Tax Relief Act of 2005.
13 (b) MIDWESTERN DISASTER AREA.--
14 (1) IN GENERAL.--For purposes of this section
15 and for applying the substitutions described in sub-
16 sections (d) and (e), the term ``Midwestern disaster
17 area'' means an area--
18 (A) with respect to which a major disaster
19 has been declared by the President on or after
20 May 20, 2008, and before August 1, 2008,
21 under section 401 of the Robert T. Stafford
22 Disaster Relief and Emergency Assistance Act
23 by reason of severe storms, tornados, or flood-
24 ing occurring in any of the States of Arkansas,
396
1 Illinois, Indiana, Iowa, Kansas, Michigan, Min-
2 nesota, Missouri, Nebraska, and Wisconsin, and
3 (B) determined by the President to war-
4 rant individual or individual and public assist-
5 ance from the Federal Government under such
6 Act with respect to damages attributable to
7 such severe storms, tornados, or flooding.
8 (2) CERTAIN BENEFITS AVAILABLE TO AREAS
9 ELIGIBLE ONLY FOR PUBLIC ASSISTANCE.--For pur-
10 poses of applying this section to benefits under the
11 following provisions, paragraph (1) shall be applied
12 without regard to subparagraph (B):
13 (A) Sections 1400Q, 1400S(b), and
14 1400S(d) of the Internal Revenue Code of
15 1986.
16 (B) Sections 302, 401, and 405 of the
17 Katrina Emergency Tax Relief Act of 2005.
18 (c) REFERENCES.--
19 (1) AREA.--Any reference in such provisions to
20 the Hurricane Katrina disaster area or the Gulf Op-
21 portunity Zone shall be treated as a reference to any
22 Midwestern disaster area and any reference to the
23 Hurricane Katrina disaster area or the Gulf Oppor-
24 tunity Zone within a State shall be treated as a ref-
397
1 erence to all Midwestern disaster areas within the
2 State.
3 (2) ITEMS ATTRIBUTABLE TO DISASTER.--Any
4 reference in such provisions to any loss, damage, or
5 other item attributable to Hurricane Katrina shall
6 be treated as a reference to any loss, damage, or
7 other item attributable to the severe storms, tor-
8 nados, or flooding giving rise to any Presidential
9 declaration described in subsection (b)(1)(A).
10 (3) APPLICABLE DISASTER DATE.--For pur-
11 poses of applying the substitutions described in sub-
12 sections (d) and (e), the term ``applicable disaster
13 date'' means, with respect to any Midwestern dis-
14 aster area, the date on which the severe storms, tor-
15 nados, or flooding giving rise to the Presidential dec-
16 laration described in subsection (b)(1)(A) occurred.
17 (d) MODIFICATIONS TO 1986 CODE.--The following
18 provisions of the Internal Revenue Code of 1986 shall be
19 applied with the following modifications:
20 (1) TAX-EXEMPT BOND FINANCING.--Section
21 1400N(a)--
22 (A) by substituting ``qualified Midwestern
23 disaster area bond'' for ``qualified Gulf Oppor-
24 tunity Zone Bond'' each place it appears, except
398
1 that in determining whether a bond is a quali-
2 fied Midwestern disaster area bond--
3 (i) paragraph (2)(A)(i) shall be ap-
4 plied by only treating costs as qualified
5 project costs if--
6 (I) in the case of a project involv-
7 ing a private business use (as defined
8 in section 141(b)(6)), either the per-
9 son using the property suffered a loss
10 in a trade or business attributable to
11 the severe storms, tornados, or flood-
12 ing giving rise to any Presidential dec-
13 laration described in subsection
14 (b)(1)(A) or is a person designated for
15 purposes of this section by the Gov-
16 ernor of the State in which the project
17 is located as a person carrying on a
18 trade or business replacing a trade or
19 business with respect to which another
20 person suffered such a loss, and
21 (II) in the case of a project relat-
22 ing to public utility property, the
23 project involves repair or reconstruc-
24 tion of public utility property dam-
399
1 aged by such severe storms, tornados,
2 or flooding, and
3 (ii) paragraph (2)(A)(ii) shall be ap-
4 plied by treating an issue as a qualified
5 mortgage issue only if 95 percent or more
6 of the net proceeds (as defined in section
7 150(a)(3)) of the issue are to be used to
8 provide financing for mortgagors who suf-
9 fered damages to their principal residences
10 attributable to such severe storms, tor-
11 nados, or flooding.
12 (B) by substituting ``any State in which a
13 Midwestern disaster area is located'' for ``the
14 State of Alabama, Louisiana, or Mississippi'' in
15 paragraph (2)(B),
16 (C) by substituting ``designated for pur-
17 poses of this section (on the basis of providing
18 assistance to areas in the order in which such
19 assistance is most needed)'' for ``designated for
20 purposes of this section'' in paragraph (2)(C),
21 (D) by substituting ``January 1, 2013'' for
22 ``January 1, 2011'' in paragraph (2)(D),
23 (E) in paragraph (3)(A)--
24 (i) by substituting ``$1,000'' for
25 ``$2,500'', and
400
1 (ii) by substituting ``before the ear-
2 liest applicable disaster date for Mid-
3 western disaster areas within the State''
4 for ``before August 28, 2005'',
5 (F) by substituting ``qualified Midwestern
6 disaster area repair or construction'' for ``quali-
7 fied GO Zone repair or construction'' each place
8 it appears,
9 (G) by substituting ``after the date of the
10 enactment of the Heartland Disaster Tax Relief
11 Act of 2008 and before January 1, 2013'' for
12 ``after the date of the enactment of this para-
13 graph and before January 1, 2011'' in para-
14 graph (7)(C), and
15 (H) by disregarding paragraph (8) thereof.
16 (2) LOW-INCOME HOUSING CREDIT.--Section
17 1400N(c)--
18 (A) only with respect to calendar years
19 2008, 2009, and 2010,
20 (B) by substituting ``Disaster Recovery As-
21 sistance housing amount'' for ``Gulf Oppor-
22 tunity housing amount'' each place it appears,
23 (C) in paragraph (1)(B)--
24 (i) by substituting ``$8.00'' for
25 ``$18.00'', and
401
1 (ii) by substituting ``before the ear-
2 liest applicable disaster date for Mid-
3 western disaster areas within the State''
4 for ``before August 28, 2005'' , and
5 (D) determined without regard to para-
6 graphs (2), (3), (4), (5), and (6) thereof.
7 (3) EXPENSING FOR CERTAIN DEMOLITION AND
8 CLEAN-UP COSTS.--Section 1400N(f)--
9 (A) by substituting ``qualified Disaster Re-
10 covery Assistance clean-up cost'' for ``qualified
11 Gulf Opportunity Zone clean-up cost'' each
12 place it appears,
13 (B) by substituting ``beginning on the ap-
14 plicable disaster date and ending on December
15 31, 2010'' for ``beginning on August 28, 2005,
16 and ending on December 31, 2007'' in para-
17 graph (2), and
18 (C) by treating costs as qualified Disaster
19 Recovery Assistance clean-up costs only if the
20 removal of debris or demolition of any structure
21 was necessary due to damage attributable to
22 the severe storms, tornados, or flooding giving
23 rise to any Presidential declaration described in
24 subsection (b)(1)(A).
402
1 (4) EXTENSION OF EXPENSING FOR ENVIRON-
2 MENTAL REMEDIATION COSTS.--Section 1400N(g)--
3 (A) by substituting ``the applicable disaster
4 date'' for ``August 28, 2005'' each place it ap-
5 pears,
6 (B) by substituting ``January 1, 2011'' for
7 ``January 1, 2008'' in paragraph (1),
8 (C) by substituting ``December 31, 2010''
9 for ``December 31, 2007'' in paragraph (1), and
10 (D) by treating a site as a qualified con-
11 taminated site only if the release (or threat of
12 release) or disposal of a hazardous substance at
13 the site was attributable to the severe storms,
14 tornados, or flooding giving rise to any Presi-
15 dential declaration described in subsection
16 (b)(1)(A).
17 (5) INCREASE IN REHABILITATION CREDIT.--
18 Section 1400N(h), as amended by this Act--
19 (A) by substituting ``the applicable disaster
20 date'' for ``August 28, 2005'',
21 (B) by substituting ``December 31, 2011''
22 for ``December 31, 2009'' in paragraph (1), and
23 (C) by only applying such subsection to
24 qualified rehabilitation expenditures with re-
25 spect to any building or structure which was
403
1 damaged or destroyed as a result of the severe
2 storms, tornados, or flooding giving rise to any
3 Presidential declaration described in subsection
4 (b)(1)(A).
5 (6) TREATMENT OF NET OPERATING LOSSES
6 ATTRIBUTABLE TO DISASTER LOSSES.--Section
7 1400N(k)--
8 (A) by substituting ``qualified Disaster Re-
9 covery Assistance loss'' for ``qualified Gulf Op-
10 portunity Zone loss'' each place it appears,
11 (B) by substituting ``after the day before
12 the applicable disaster date, and before January
13 1, 2011'' for ``after August 27, 2005, and be-
14 fore January 1, 2008'' each place it appears,
15 (C) by substituting ``the applicable disaster
16 date'' for ``August 28, 2005'' in paragraph
17 (2)(B)(ii)(I),
18 (D) by substituting ``qualified Disaster Re-
19 covery Assistance property'' for ``qualified Gulf
20 Opportunity Zone property'' in paragraph
21 (2)(B)(iv), and
22 (E) by substituting ``qualified Disaster Re-
23 covery Assistance casualty loss'' for ``qualified
24 Gulf Opportunity Zone casualty loss'' each
25 place it appears.
404
1 (7) CREDIT TO HOLDERS OF TAX CREDIT
2 BONDS.--Section 1400N(l)--
3 (A) by substituting ``Midwestern tax credit
4 bond'' for ``Gulf tax credit bond'' each place it
5 appears,
6 (B) by substituting ``any State in which a
7 Midwestern disaster area is located or any in-
8 strumentality of the State'' for ``the State of
9 Alabama, Louisiana, or Mississippi'' in para-
10 graph (4)(A)(i),
11 (C) by substituting ``after December 31,
12 2008 and before January 1, 2010'' for ``after
13 December 31, 2005, and before January 1,
14 2007'',
15 (D) by substituting ``shall not exceed
16 $100,000,000 for any State with an aggregate
17 population located in all Midwestern disaster
18 areas within the State of at least 2,000,000,
19 $50,000,000 for any State with an aggregate
20 population located in all Midwestern disaster
21 areas within the State of at least 1,000,000 but
22 less than 2,000,000, and zero for any other
23 State. The population of a State within any
24 area shall be determined on the basis of the
25 most recent census estimate of resident popu-
405
1 lation released by the Bureau of Census before
2 the earliest applicable disaster date for Mid-
3 western disaster areas within the State.'' for
4 ``shall not exceed'' and all that follows in para-
5 graph (4)(C), and
6 (E) by substituting ``the earliest applicable
7 disaster date for Midwestern disaster areas
8 within the State'' for ``August 28, 2005'' in
9 paragraph (5)(A).
10 (8) EDUCATION TAX BENEFITS.--Section
11 1400O, by substituting ``2008 or 2009'' for ``2005
12 or 2006''.
13 (9) HOUSING TAX BENEFITS.--Section 1400P,
14 by substituting ``the applicable disaster date'' for
15 ``August 28, 2005'' in subsection (c)(1).
16 (10) SPECIAL RULES FOR USE OF RETIREMENT
17 FUNDS.--Section 1400Q--
18 (A) by substituting ``qualified Disaster Re-
19 covery Assistance distribution'' for ``qualified
20 hurricane distribution'' each place it appears,
21 (B) by substituting ``on or after the appli-
22 cable disaster date and before January 1,
23 2010'' for ``on or after August 25, 2005, and
24 before January 1, 2007'' in subsection
25 (a)(4)(A)(i),
406
1 (C) by substituting ``the applicable disaster
2 date'' for ``August 28, 2005'' in subsections
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