Page:United States Statutes at Large Volume 115 Part 3.djvu/358

 115 STAT. 2432 PUBLIC LAW 107-134-^AN. 23, 2002 Applicability. (b) EFFECTIVE DATE. —T his section shall apply to payments made on or after September 11, 2001. 26 USC 108 note. SEC. 105. EXCLUSION OF CERTAIN CANCELLATIONS OF INDEBTED- NESS. (a) IN GENERAL.— For purposes of the Internal Revenue Code of 1986— Anthrax. (1) gross income shall not include any amount which (but for this section) would be includible in gross income by reason of the discharge (in whole or in part) of indebtedness of any taxpayer if the discharge is by reason of the death of an individual incurred as the result of the terrorist attacks against the United States on September 11, 2001, or as the result of illness incurred as a result of an attack involving anthrax occurring on or after September 11, 2001, and before January 1, 2002; and (2) return requirements under section 6050P of such Code shall not apply to any discharge described in paragraph (1). Applicability. (b) EFFECTIVE DATE.— This section shall apply to discharges made on or after September 11, 2001, and before January 1, 2002. Subtitle B—Other Relief Provisions SEC. 111. EXCLUSION FOR DISASTER RELIEF PAYMENTS. (a) IN GENERAL.— Part III of subchapter B of chapter 1 (relating to items specifically excluded from gross income) is amended by redesignating section 139 as section 140 and inserting after section 138 the following new section: "SEC. 139. DISASTER RELIEF PAYMENTS. "(a) GENERAL RULE. —Gross income shall not include any amount received by an individual as a qualified disaster relief payment. "(b) QUALIFIED DISASTER RELIEF PAYMENT DEFINED. — For purposes of this section, the term 'qualified disaster relief payment' means any amount paid to or for the benefit of an individual— "(1) to reimburse or pay reasonable and necessary personal, family, living, or funeral expenses incurred as a result of a qualified disaster, "(2) to reimburse or pay reasonable and necessary expenses incurred for the repair or rehabilitation of a personal residence or repair or replacement of its contents to the extent that the need for such repair, rehabilitation, or replacement is attributable to a qualified disaster, "(3) by a person engaged in the furnishing or sale of transportation as a common carrier by reason of the death or personal physical injuries incurred as a result of a qualified disaster, or "(4) if such amount is paid by a Federal, State, or local government, or agency or instrumentality thereof, in connection with a qualified disaster in order to promote the general welfare, but only to the extent any expense compensated by such payment is not otherwise compensated for by insurance or otherwise. "(c) QUALIFIED DISASTER DEFINED. —For purposes of this section, the term 'qualified disaster' means—

�