A bill to amend the Internal Revenue Code of 1954 to provide that the substantiation requirements of section 274(d) of such Code may be met, in the case of passenger automobiles and other transportation property, if the taxpayer provides substantial evidence other than contemporaneous records.

Amends the Internal Revenue Code to provide that the substantiation requirements for the deductibility of business expenses for passenger automobiles or other means of transportation shall be met by providing adequate records or sufficient corroborating evidence rather than contemporaneous records.