Page:United States Statutes at Large Volume 78.djvu/85

 78 STAT. ] (e)

PUBLIC LAW 88-272-FEB. 26, 1964

43

EFFECTIVE D A T E. —

(1) GENERAL RULE.—Except as provided in paragraph (2), the amendments made by this section shall apply to taxable years beginning after December 31, 1963. (2) SPECIAL TAXING DISTRICTS.—Section 164(c)(1) of the Interp. 40. nal Revenue Code of 1954 (as amended by subsection (a)) shall Ante,s e 164. 26 u not prevent the deduction under section 164 of such Code (as so amended) of taxes levied by a special taxing district which is described in section 164(b)(5) of such Code (as in effect for a taxable year ending on December 31, 1963) and which was in existence on December 31, 1963, for the purpose of retiring indebtedness existing on such date. SEC. 208. PERSONAL CASUALTY AND THEFT LOSSES. (a) LIMITATION ON AMOUNT OF CASUALTY OR THE F T Loss DEDUCTION.—Section 165(c)(3) (relating to losses of property not connected 68Au Stat. 49. 26 s e 165. with trade or business) is amended to read as follows: " (3) losses of property not connected with a trade or business, if such losses arise from fire, storm, shipwreck, or other casualty, or from theft. A loss described in this paragraph shall be allowed only to the extent that the amount of loss to such individual arising from each casualty, or from each theft, exceeds $100. For purposes of the $100 limitation of the preceding sentence, a husband and wife making a joint return under section 6013 for ^^ ^^^ ^°^^the taxable year in which the loss is allowed as a deduction shall be treated as one individual. No loss described in this paragraph shall be allowed if, at the time of filing the return, such loss has been claimed for estate tax purposes in the estate tax return," (b) EFFECTIVE DATE.—The amendment made by subsection (a) shall apply to losses sustained after December 31, 1963, in taxable years ending after such date. SEC. 209. CHARITABLE, ETC., CONTRIBUTIONS AND GIFTS. (a) CERTAIN ORGANIZATIONS ADDED TO ADDITIONAL 10-PERCENT CHARITABLE LiMiTATiON.--Section 170(b)(I)(A) (relating to limita-

tion on amount of deduction for charitat3le contributions by individuals) is amended by striking out "or" at the end of clause (iii), and by inserting after clause (iv) the following new clauses: " (v) a governmental unit referred to in subsection (^)(1)'0^ .. ... " (vi) an organization referred to in subsection (c)(2) which normally receives a substantial part of its support (exclusive of income received in the exercise or performance by such organization of its charitable, educational, or other purpose or function constituting the basis for its exemption under section 501(a)) from a governmental unit referred to in subsection (c)(1) or from direct or indirect contributions from the general public,". (b)

26 USC soi.

UNLIMITED CHARITABLE CONTRIBUTION DP:DUCTION.—Section

170 (relating to charitable, etc., contributions and gifts) is amended by inserting after subsection (f) (added by subsection (e) of this section) the following new subsection: "(g)

H ulc iVo?

APPLICATION OF UNLIMITED CHARITABLE CONTRIBUTION D E -

miCTION.— " (1) ALLOWANCE OF DEDUCTION FOR TAXABLE YEARS BEGINNING AFTER DECEMBER 31, 1963.—If the taxable year begins after

December 31, 1963— " (A) subsection (b)(1)(C) shall apply only if the taxpayer so elects (at such time and in such manner as the Secretary or his delegate by i*egulations prescribes); and

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