To provide for income tax treatment relating to certain losses arising from, and grants made as a result of, the September 11, 2001, terrorist attacks on New York City.
September 11th Tax Correction Act - Excludes from gross income, and exempts from the prohibition against tax deductions for expenses and interest relating to tax-exempt income, retention grants paid from Federal community development block grant funds for assistance for properties or businesses damaged by, or for economic revitalization related to, the September 11, 2001, terrorist attacks on New York City.
Exempts such retention grants from information reporting requirements under the Internal Revenue Code.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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