HouseH.R. 9398119th Congress
Historic Preservation and Land Conservation Certainty Act
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[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 9398 Introduced in House (IH)]
<DOC>
119th CONGRESS
2d Session
H. R. 9398
To provide an election to resolve certain open partnership
controversies involving donations of conservation easements.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
June 23, 2026
Mr. Carey introduced the following bill; which was referred to the
Committee on Ways and Means
_______________________________________________________________________
A BILL
To provide an election to resolve certain open partnership
controversies involving donations of conservation easements.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Historic Preservation and Land
Conservation Certainty Act''.
SEC. 2. ELECTION TO RESOLVE CERTAIN OPEN PARTNERSHIP CONTROVERSIES
INVOLVING DONATIONS OF CONSERVATION EASEMENTS.
(a) Definitions.--For purposes of this section--
(1) Eligible contribution.--The term ``eligible
contribution'' means any qualified conservation contribution
(as defined in section 170(h)(1) of the Internal Revenue Code
of 1986) made by a partnership in a taxable year ending on or
before December 31, 2024, with respect to which a deduction was
claimed under section 170 of such Code on the partnership
return for such year. For purposes of this section, such
contribution shall be treated as made by the partnership that
was the donor of the contributed property for purposes of
section 170 of such Code, determined without regard to any
agency or nominee arrangement.
(2) Claimed deduction.--The term ``claimed deduction''
means the aggregate amount of the deduction with respect to an
eligible contribution that was allocable to the ultimate
taxpayer partners, as reported on Schedule K-1 or similar
statements furnished (directly or indirectly through 1 or more
pass-through entities) to such partners for the taxable year in
which such deduction is taken into account under section
706(a), section 1366(a), or other applicable provision of the
Internal Revenue Code of 1986, including any amendments filed
on or before the date the election statement is filed. In
determining the claimed deduction, the electing partnership may
rely on reported amounts (as amended) unless it has actual
knowledge that a different amount was allocable to ultimate
taxpayer partners, and may rely on written representations from
upper-tier pass-through entities. Any discrepancy between the
amount used in the election statement and the actual aggregate
amount shall be subject to adjustment under subsection (h), but
shall not by itself invalidate the election.
(3) Open matter.--The term ``open matter'' means, with
respect to any eligible contribution, a contribution with
respect to which--
(A) as of the date the election statement is filed,
the period for assessment of any tax imposed by chapter
1 of the Internal Revenue Code of 1986 that is
attributable to such contribution has not expired
(determined after the application of section 6501 of
such Code (including any extension under section
6501(c)(4) of such Code and any suspension under
section 6503 of such Code) and, to the extent
applicable, section 6229 of such Code (as in effect for
partnership taxable years beginning before January 1,
2018) and section 6235 of such Code); or
(B) the Secretary has issued to the partnership,
the applicable partnership representative, or any
person authorized to act for the partnership, a written
notice or request identifying the partnership, the
taxable year, and the contribution (or the conservation
easement transaction of which such contribution is a
part), indicating review, examination, or proposed
adjustment of the Federal income tax treatment thereof,
or an administrative appeal or judicial proceeding is
pending with respect thereto.
(4) Election period.--The term ``election period'' means
the 180-day period beginning on the date of enactment of this
Act.
(5) Common marketing group.--
(A) In general.--The term ``common marketing
group'' means all partnerships with eligible
contributions with respect to which the same principal
organizer or manager (as defined in subparagraph (B)),
even if acting in conjunction with 1 or more other
persons, was principally responsible for organizing or
managing the plan or arrangement pursuant to which such
eligible contributions were solicited, structured, or
facilitated, and includes all partnerships with
eligible contributions with respect to which any person
related (within the meaning of section 267(b) or
section 707(b)(1) of the Internal Revenue Code of 1986)
to such principal organizer or manager was so
principally responsible.
(B) Principal organizer or manager.--For purposes
of subparagraph (A), a person shall be treated as a
principal organizer or manager with respect to an
eligible contribution if such person (or any person
related to such person within the meaning of section
267(b) or section 707(b)(1) of the Internal Revenue
Code of 1986) satisfies any of the following
conditions:
(i) Such person is identified as an
organizer, manager, sponsor, promoter,
arranger, or similar role in any written
offering material, subscription agreement,
marketing presentation, partnership agreement,
management agreement, side letter, or other
written communication provided to any partner
or prospective partner in connection with the
partnership making the eligible contribution.
(ii) Such person received, directly or
indirectly, or was entitled to receive, any
fee, commission, compensation, profit interest,
or other economic benefit (other than
reimbursement of reasonable out-of-pocket
expenses) in connection with organizing,
managing, marketing, structuring, facilitating,
or arranging financing for the eligible
contribution, or for the acquisition, holding,
or donation of the property with respect to
which the eligible contribution was made.
(iii) Such person served, directly or
indirectly, as a general partner, managing
member, manager, trustee, investment manager,
or similar controlling person with authority
(under governing documents or contract) over
the partnership's acquisition, holding,
management, disposition, or donation of the
property, or over the decision to make the
eligible contribution.
(C) Overlapping groups.--If a partnership would be
treated as a member of more than 1 common marketing
group under this paragraph, all such groups shall be
treated as a single common marketing group for purposes
of this section.
(6) Designated partnership.--The term ``designated
partnership'' means the partnership designated under subsection
(d)(3).
(7) Electing partnership.--The term ``electing
partnership'' means the designated partnership (in the case of
a common marketing group) or the partnership that made the
eligible contribution (in all other cases).
(8) Non-contributing partner.--The term ``non-contributing
partner'' means any ultimate taxpayer partner identified under
subsection (f)(1)(A)(ii).
(9) Election statement.--The term ``election statement''
means the written statement filed under subsection (b)(2) that
includes the information required under subsection (b)(3).
(10) Applicable partnership representative.--The term
``applicable partnership representative'' means the partnership
representative designated under section 6223(a) of the Internal
Revenue Code of 1986 (for partnership taxable years beginning
after December 31, 2017) or the tax matters partner designated
under section 6231(a)(7) of such Code (as in effect for
partnership taxable years beginning before January 1, 2018).
(11) Pass-through entity.--The term ``pass-through entity''
means any partnership, S corporation, estate, or trust.
(12) Ultimate taxpayer partner.--The term ``ultimate
taxpayer partner'' means, with respect to any portion of a
deduction attributable to an eligible contribution, the person
that, after taking into account allocations of such portion
through one or more pass-through entities, actually takes such
portion into account in determining the tax imposed by chapter
1 and receives the Federal income tax benefit of such portion,
whether as a partner, shareholder, beneficiary, owner, or
otherwise. Except as provided in the preceding sentence, a
pass-through entity shall not be treated as an ultimate
taxpayer partner. A pass-through entity shall be treated as an
ultimate taxpayer partner to the extent such entity is itself
subject to tax under chapter 1 and claims the benefit of such
portion.
(13) Secretary.--The term ``Secretary'' means the Secretary
of the Treasury or the Secretary's delegate.
(b) Election; Making Election; Effect.--
(1) In general.--Notwithstanding any other provision of
this title, in the case of any eligible contribution with an
open matter, the electing partnership may elect to have this
section apply. An election under this section may include only
eligible contributions that have an open matter as of the date
the election statement is filed.
(2) Making the election.--An election under this section
shall be made by filing, not later than the last day of the
election period, an election statement with the Secretary at
the place prescribed under section 6091 of the Internal Revenue
Code of 1986 for filing the partnership return of the electing
partnership, accompanied by the remittance required under
subsection (e)(2). Such remittance shall be in the form of a
cashier's check, certified check, money order, or other check
payable to the ``United States Treasury'', and shall identify
the electing partnership and state that it relates to an
election under this section.
(3) Required contents of election statement.--The election
statement shall set forth, with respect to the eligible
contribution--
(A) the name, address, and employer identification
number of the electing partnership and, in the case of
a common marketing group, the name and employer
identification number of each partnership whose
eligible contributions are included in the election;
(B) the taxable year or years of the contributions
encompassed by the election;
(C) identification of each donee and the property,
including the date of each eligible contribution;
(D) the claimed deduction;
(E) the settlement limitation amount determined
under subsection (c);
(F) the tax component determined under subsection
(e)(1)(B);
(G) the penalty component determined under
subsection (e)(1)(C);
(H) the settlement amount determined under
subsection (e)(1)(A); and
(I) in the case of an electing partnership with a
non-contributing partner, the schedule described in
subsection (f)(1).
(4) Effect; waiver.--If an election under this section
becomes effective under paragraph (6)--
(A) the deduction otherwise allowable under section
170 of the Internal Revenue Code of 1986 for the
eligible contribution shall not exceed the settlement
limitation amount;
(B) the settlement amount shall be due and payable
as provided in subsection (e);
(C) except as provided in subsection (f), payment
of the settlement amount shall resolve all Federal
income tax liability (including penalties and interest)
attributable to the excess of the claimed deduction
over the settlement limitation amount; and
(D) the electing partnership, each partner thereof,
each pass-through entity through which any portion of
the claimed deduction is allocable, and each ultimate
taxpayer partner to which any portion of the claimed
deduction is allocable waive any right to contest the
amounts described in subparagraphs (E), (F), (G), or
(H) of paragraph (3), administratively or judicially.
(5) Courtesy notice.--Within 10 days of filing an election
statement, the electing partnership shall provide a copy
thereof to any revenue agent, appeals officer, or chief counsel
attorney assigned to the partnership that made the eligible
contribution, and to the Clerk of the Tax Court, any United
States District Court, or any Court of Appeals in which
proceedings involving the eligible contribution are pending.
Copies provided to courts shall exclude any schedule described
in subsection (f)(1) and shall redact taxpayer identification
numbers and street addresses. Failure to provide such notice
shall not affect the validity of the election.
(6) Date election becomes effective.--An election that
satisfies the requirements of this subsection and is
accompanied by the required remittance under subsection (e)(2)
shall be effective upon filing. No acceptance, acknowledgment,
determination, form, regulation, or other administrative action
by the Secretary shall be required for the election to be
effective. No requirement or procedural step other than those
expressly set forth in this section may be imposed as a
condition to making or giving effect to an election.
(7) Timely mailing.--For purposes of this section, section
7502 of the Internal Revenue Code of 1986 (determined without
regard to subsection (f) thereof) shall apply to the election
statement, any required schedule or authorization, and any
accompanying remittance.
(8) Suspension of limitations.--The running of any period
of limitation on assessment with respect to any tax
attributable to an eligible contribution for which an election
becomes effective under paragraph (6) shall be suspended from
the date of filing of the election statement until the earlier
of 2 years after the date such election becomes effective or
the date the election becomes void under subsection (h)(4), and
for 90 days thereafter.
(9) Signature; finality.--The election statement shall be
signed by the applicable partnership representative. An
effective election shall be irrevocable and binding on the
electing partnership, each partner thereof, each partnership in
a common marketing group whose authorization is included under
subsection (d)(3), each pass-through entity through which any
portion of the claimed deduction is allocable, and each
ultimate taxpayer partner to which any portion of the claimed
deduction is allocable. Except as expressly provided in
subsection (f)(6) and (h)(4), such election shall not be
subject to judicial review. Such election shall be treated as a
closing agreement under section 7121 with respect to the
matters resolved under paragraph (4)(C), and shall be deemed
approved by the Secretary under section 7121(b) as of the date
the election becomes effective.
(c) Settlement Limitation Amount.--For purposes of this section--
(1) General rule.--Except as provided in paragraph (2), the
term ``settlement limitation amount'' means an amount equal to
2.5 times the sum of the relevant basis (as defined in section
170(h)(7)(B) of the Internal Revenue Code of 1986) of all
partners with respect to the eligible contribution.
(2) Excepted contributions.--In the case of an eligible
contribution meeting the requirements of subparagraph (C), (D),
or (E) of paragraph (7) of the Internal Revenue Code of 1986,
the term ``settlement limitation amount'' means an amount equal
to 3.2 times the aggregate amount of capital contributed,
directly or indirectly, by the ultimate taxpayer partners,
excluding any amount derived from a loan, insurance
arrangement, or other financing provided by the principal
organizer or manager, or by any person related (within the
meaning of section 267(b) or section 707(b)(1) of such Code) to
such principal organizer or manager.
(d) Aggregation for Common Marketing Groups.--
(1) Single contribution treatment.--All eligible
contributions of partnerships in a common marketing group that
are described in the election statement and that each has an
open matter as of the date the election statement is filed
shall be treated as a single eligible contribution for purposes
of this section.
(2) Computation on combined basis.--In the case of a common
marketing group, the claimed deduction, settlement limitation
amount, and settlement amount shall be computed by aggregating
across all partnerships and all taxable years in the group with
respect to the eligible contributions described in the election
statement.
(3) Designation and authorizations.--A common marketing
group shall act through a designated partnership. The
designated partnership shall be identified by name and employer
identification number in a written authorization executed by
the applicable partnership representative of each partnership
in the group. Each authorization shall grant filing and
remittance authority and acknowledge that the executing
partnership is jointly and severally liable for the settlement
amount until paid in full.
(4) Validity condition.--Except as provided in paragraph
(5), an election by a designated partnership shall not be
effective unless the election statement includes authorizations
from each partnership in the common marketing group.
(5) Effect of final decisions.--If 1 or more partnerships
in a common marketing group are precluded from electing under
subsection (g)(3), the remaining partnerships may make a group
election if all partnerships to which subsection (g)(3) does
not apply provide authorizations under this paragraph. In any
case in which this paragraph applies, paragraph (2) shall be
applied by excluding any partnership precluded under subsection
(g)(3).
(6) Joint and several liability.--Each partnership in a
common marketing group shall be jointly and severally liable
for the settlement amount until paid in full.
(e) Payment of Settlement Amount.--
(1) Settlement amount.--For purposes of this section--
(A) In general.--The term ``settlement amount''
means the sum of--
(i) the tax component; and
(ii) the penalty component.
(B) Tax component.--The tax component is equal to
the product of--
(i) the excess of the claimed deduction
(the claimed deduction is the combined total
amount deducted by all the ultimate taxpayer
partners) over the settlement limitation
amount; and
(ii) the highest rate of tax in effect
under section 1 of the Internal Revenue Code of
1986 for any taxable year encompassed by the
election.
(C) Penalty component.--The penalty component is
equal to the amount that would be determined under
section 6662 of the Internal Revenue Code of 1986 by
applying the applicable penalty rate under paragraph
(3) to an underpayment equal to the tax component and
by treating the settlement limitation amount as the
correct amount of the deduction.
(2) Payment.--An election partnership shall pay the
settlement amount not later than the last day of the election
period. Except as provided in subsection (f), an election shall
not be effective unless the electing partnership remits the
full settlement amount with the election statement.
(3) Applicable penalty rate.--The applicable penalty rate
shall be--
(A) the rate applicable under section 6662(h) of
the Internal Revenue Code of 1986 in any case in which
the claimed deduction exceeded 200 percent of the
settlement limitation amount; and
(B) the rate applicable under section 6662(a) of
such Code in any other case the application of the rate
under the preceding sentence shall be determined
without regard to section 6664(c) of the Internal
Revenue Code of 1986.
(4) Interest waiver.--In the case of any portion of the
settlement amount remitted by the electing partnership not
later than the last day of the election period, any interest
under section 6601 of the Internal Revenue Code of 1986 with
respect to such portion for periods ending before the date of
remittance is waived. Interest shall accrue in full on any
amount not so remitted.
(5) Assessment and collection.--Any settlement amount (and
any amount assessed under subsection (f)) shall be assessed and
collected in the same manner as tax imposed by chapter 1 of the
Internal Revenue Code of 1986. The Secretary shall accept and
apply any remittance as a payment of the settlement amount
without any receipt, notice, or administrative action affecting
the effectiveness of the election.
(f) Non-Contributing Partners.--
(1) Identification of non-contributing partners.--
(A) In general.--If the electing partnership does
not remit the full settlement amount solely because one
or more ultimate taxpayer partners fail to provide
their respective allocable amounts, the election
statement shall include a schedule identifying--
(i) each ultimate taxpayer partner who has
contributed such partner's allocable amount;
(ii) each ultimate taxpayer partner who has
not contributed such partner's allocable
amount; and
(iii) the following information for each
partner described in clauses (i) and (ii):
(I) The name, current address,
taxpayer identification number of such
partner.
(II) The amount described in
subparagraph (B)(i) with respect to
such partner.
(III) The allocable amount for such
partner.
(B) Allocable amount.--For purposes of this
subsection, a partner's allocable amount is equal to
the product of the settlement amount and a fraction--
(i) the numerator of which is such
partner's share of the deduction (as reported
on the Schedule K-1 or similar statement,
including amendments filed before the date the
election statement is filed); and
(ii) the denominator of which is the total
claimed deduction.
(2) Reduced remittance.--In the case of an election
statement including a schedule under paragraph (1), the amount
of the remittance required under subsection (e)(2) shall be
reduced by the aggregate allocable amounts of non-contributing
partners.
(3) Assessment against non-contributing partners.--The
Secretary shall assess against each non-contributing partner an
amount equal to the sum of--
(A) such partner's allocable amount, and
(B) an amount equal to 25 percent of the product of
the tax component determined under subsection (e)(1)(B)
and the fraction described in paragraph (1)(B).
Such amount shall be payable upon notice and demand.
(4) Interest.--Interest under section 6601 of the Internal
Revenue Code of 1986 shall accrue on any amount assessed under
this subsection beginning on the day after the last day of the
election period.
(5) Period of limitations.--For purposes of section 6501 of
the Internal Revenue Code of 1986, the period for assessment of
any amount under this subsection shall not expire before 3
years after the last day of the election period.
(6) Assessment procedures; judicial review.--Amounts
assessed under paragraph (3) shall be immediately assessable,
and the restrictions under section 6213(a) of the Internal
Revenue Code of 1986 on assessment and collection shall not
apply. A non-contributing partner may contest the computation
of such partner's allocable amount only by paying the amount
assessed and filing a claim for refund under section 6511 of
such Code. Nothing in this subsection shall limit a non-
contributing partner's right to bring suit under section 7422
of such Code following disallowance of such claim.
(g) Coordination With Prior Proceedings.--
(1) Prior settlements.--If a partnership has entered into a
closing agreement under section 7121 of the Internal Revenue
Code of 1986 or a compromise under section 7122 of such Code
with respect to an eligible contribution, the partnership shall
exclude from the election any matters resolved thereby.
(2) Pending stipulated decisions.--A partnership with
respect to which a stipulated decision has been lodged with the
Tax Court but not yet entered may withdraw such stipulation and
make an election, provided that such withdrawal occurs before
the last day of the election period.
(3) Final decisions.--No election may be made with respect
to an eligible contribution if a decision of the Tax Court has
become final within the meaning of section 7481 of the Internal
Revenue Code of 1986, or if a judgment of any other court has
become final and is no longer subject to review (including by
petition for writ of certiorari).
(4) Section 6226 elections.--If a partnership has made an
election under section 6226 of the Internal Revenue Code of
1986 with respect to an imputed underpayment attributable to an
eligible contribution, an election under this section may be
made only if such election under section 6226 of such Code is
revoked. Notwithstanding section 6226 of such Code and any
regulations thereunder, such revocation shall be made by a
written statement signed by the applicable partnership
representative and included with the election statement, and
shall be effective solely with respect to the eligible
contribution and items attributable thereto.
(h) Examination for Computational Accuracy.--
(1) Authority.--Notwithstanding subsection (b)(4), the
Secretary may examine any election solely to verify the
correctness of computational elements, including the claimed
deduction, relevant basis or capital contributions, settlement
limitation amount, tax component, and penalty component. Such
examination shall not extend to any determination of fair
market value or any other substantive issue resolved by the
election.
(2) Adjustment for discrepancy.--If the Secretary
determines that the settlement amount was incorrectly computed,
the Secretary shall notify the electing partnership of such
discrepancy and the corrected amount by mailing notice to the
last known address of such partnership. Except as provided in
subsection (h)(3) and (h)(4), any additional amount due shall
be payable within 90 days of such notification.
(3) Administrative review.--If, within the 90-day period
described in subsection (h)(2) the electing partnership files a
written protest or request for administrative review of all or
any portion of the additional amount, the Secretary shall
provide administrative review, including review by the
Independent Office of Appeals if otherwise available.
Assessment and collection of the disputed portion shall be
suspended while such administrative review is pending. Upon
conclusion of such review, the Secretary shall mail to the
electing partnership a notice of final administrative
determination setting forth the amount, if any, finally
determined by the Secretary.
(4) Judicial review.--The electing partnership may contest
the computation of any additional amount determined under this
subparagraph by filing a petition with the Tax Court without
prior payment or, after payment, by filing a claim for refund
under section 6511. Any petition to the Tax Court shall be
filed within 90 days after the Secretary mails the notice
described in clause (ii), or, if administrative review is
timely requested under clause (iii), within 90 days after the
Secretary mails the notice of final administrative
determination. The Tax Court shall have jurisdiction over any
timely petition filed under this clause, notwithstanding that
the electing partnership is not otherwise liable for tax under
this title, and may redetermine the correct amount of the
disputed additional amount, but only with respect to the
computational elements described in clause (i). No assessment,
levy, or proceeding in court for collection of the disputed
portion shall be made, begun, or prosecuted until the
expiration of the applicable 90-day period, or, if a petition
is timely filed, until the decision of the Tax Court has become
final under section 7481. Nothing in this paragraph shall be
construed to limit the electing partnership's right to bring
suit under section 7422 following disallowance of such claim.
(5) Effect on election.--No election shall be void or
otherwise impaired solely because the electing partnership
exercises its rights under (h)(3) or (h)(4). The election shall
remain in effect pending any administrative review, Tax Court
proceeding, or refund claim or suit. If any additional amount
finally determined under this subparagraph is paid within 90
days after the close of the applicable 90-day period described
(h)(4) if no petition is filed, or within 90 days after the
decision of the Tax Court becomes final, the election shall
remain in effect at the corrected settlement amount, and no
further liability (other than interest under section 6601 on
the additional amount from the last day of the election period)
shall arise from such adjustment.
(6) Election void.--The election shall be void from the
beginning only if--
(A) the additional amount is not paid within the
90-day period; and
(B) the electing partnership does not contest the
Secretary's determination administratively or
judicially under (h)(4) or (h)(5).
(7) Effect of voided election.--If an election becomes void
under paragraph (6), any amounts previously remitted shall be
treated as a payment of tax and applied against any liability
subsequently determined with respect to the eligible
contribution.
(8) Time limit.--The Secretary may not provide notification
under paragraph (2) after the date that is 2 years after the
date the election becomes effective under subsection (b)(6).
(i) No Inference; Preservation of Other Remedies.--Nothing in this
section shall be construed to create any inference regarding the proper
tax treatment or fair market value of any eligible contribution for
which an election is not made under this section. Nothing in this
section shall limit or affect any penalty under section 6694, 6695,
6700, 6701, or any other provision of the Internal Revenue Code of 1986
applicable to any person other than the electing partnership or its
partners.
SEC. 3. CONTRIBUTING-BUILDING STANDARD FOR CERTAIN QUALIFIED
CONSERVATION CONTRIBUTIONS AND CERTIFIED HISTORIC
STRUCTURES.
(a) Amendment to Section 170(h)(4)(c).--Section 170(h)(4)(C) is
amended--
(1) in clause (ii), by striking ``and is certified by the
Secretary of the Interior to the Secretary as being of historic
significance to the district'' and inserting ``and is a
contributing building''; and
(2) by inserting after clause (ii) the following flush
language: ``For purposes of clause (ii), the term `contributing
building' means any building that--''
``(I) is identified as contributing in the National
Register nomination for the district, any amendment
thereto, or the official map, inventory, or other
district documentation on file with, or approved or
accepted by, the Secretary of the Interior, or''.
(b) Conforming Amendment to Section 47(c)(3)(a).--Section
47(c)(3)(A) is amended--
(1) in clause (ii), by striking ``and is certified by the
Secretary of the Interior to the Secretary as being of historic
significance to the district'' and inserting ``and is a
contributing building''; and
(2) by inserting after clause (ii) the following flush
language: ``For purposes of clause (ii), the term `contributing
building' means any building that--''
``(I) is identified as contributing
in the National Register nomination for
the district, any amendment thereto, or
the official map, inventory, or other
district documentation on file with, or
approved or accepted by, the Secretary
of the Interior, or
``(II) is certified by the
Secretary of the Interior to the
Secretary as contributing to the
historic significance of the
district.''.
(c) Conforming Amendment to Section 47(c)(3)(b)(ii)(i).--Section
47(c)(3)(B)(ii)(I) is amended by striking ``buildings of historic
significance to the district'' and inserting ``contributing buildings
in the district''.
(d) Effective Dates.--
(1) Section 170 amendment.--The amendments made by
subsection (a) shall apply to contributions made in taxable
years ending before, on, or after the date of enactment, but
only with respect to--
(A) any taxable year for which the period for
assessment under section 6501 has not expired as of
such date;
(B) any taxable year for which a claim for credit
or refund may be filed under section 6511 as of such
date;
(C) any taxable year to which a deduction
attributable to such contribution is carried under
section 170(d) and for which the period described in
subparagraph (A) or (B) remains open; or
(D) any administrative or judicial proceeding with
respect to such contribution that is pending and not
final as of such date.
(2) Section 47 conforming amendments.--The amendments made
by subsections (b) and (c) shall apply to taxable years
beginning after the date of enactment.
(3) No inference.--No inference shall be drawn with respect
to any taxable year or proceeding closed by operation of law.
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