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HR 1274 IH
110th CONGRESS
1st Session
H. R. 1274
To amend the Internal Revenue Code of 1986 to exclude from gross income amounts awarded to qui tam plaintiffs.
IN THE HOUSE OF REPRESENTATIVES
March 1, 2007
Ms. BERKLEY 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 exclude from gross income amounts awarded to qui tam plaintiffs.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. EXCLUSION OF AMOUNTS AWARDED TO QUI TAM PLAINTIFFS.
(a) In General- Part III of subchapter B of chapter 1 of the Internal Revenue Code of 1986 (relating to items specifically excluded from gross income) is amended by inserting after section 139A the following new section:
`SEC. 139B. AWARD TO QUI TAM PLAINTIFF.
`In the case of an individual, gross income does not include amounts awarded to such individual as a result of a qui tam action.'.
(b) Clerical Amendment- The table of sections for such part is amended by inserting after the item relating to section 139A the following new item:
(c) Extension of Period To File Amended Return- Notwithstanding any other provision of law, an amended return made during the 3-year period beginning on the date of the enactment of this Act that includes the exclusion from gross income under section 139B of such Code in accordance with the amendment made by subsection (a) shall be treated as timely made for purposes of such Code.
(d) Effective Date- The amendments made by this section shall apply to amounts awarded to qui tam plaintiffs on or after January 1, 2002.
U.S. Congress - Text of H.R.1274 as Introduced in House To amend the Internal Revenue Code of 1986 to exclude from gross income amounts awarded...
