PROHIBITION ON CASH, GIFT CARDS, AND OTHER NON-TANGIBLE PERSONAL PROPERTY AS EMPLOYEE ACHIEVEMENT AWARDS.

SEC. 13310. PROHIBITION ON CASH, GIFT CARDS, AND OTHER NON-TANGIBLE PERSONAL PROPERTY AS EMPLOYEE ACHIEVEMENT AWARDS.(a) In General.—Subparagraph (A) of section 274(j)(3) is amended—(1) by striking “The term” and inserting the following:“(i) In general.—The term”.(2) by redesignating clauses (i), (ii), and (iii) as subclauses (I), (II), and (III), respectively, and conforming the margins accordingly, and(3) by adding at the end the following new clause:“(ii) Tangible personal property.—For purposes of clause (i), the term ‘tangible personal property’ shall not include—“(I) cash, cash equivalents, gift cards, gift coupons, or gift certificates (other than arrangements conferring only the right to select and receive tangible personal property from a limited array of such items pre-selected or pre-approved by the employer), or“(II) vacations, meals, lodging, tickets to theater or sporting events, stocks, bonds, other securities, and other similar items.”.(b) Effective Date.—The amendments made by this section shall apply to amounts paid or incurred after December 31, 2017.