EXTENSION OF CERTAIN EMERGENCY TAX RELIEF FOR HURRICANE KATRINA TO HURRICANES RITA AND WILMA.

SEC. 201. EXTENSION OF CERTAIN EMERGENCY TAX RELIEF FOR HURRICANE KATRINA TO HURRICANES RITA AND WILMA.(a) In General.—Part II of subchapter Y of chapter 1 (as added by this Act) is amended by adding at the end the following new sections:“SEC. 1400Q. SPECIAL RULES FOR USE OF RETIREMENT FUNDS.“(a) Tax-Favored Withdrawals From Retirement Plans.—“(1) In general.—Section 72(t) shall not apply to any qualified hurricane distribution.“(2) Aggregate dollar limitation.—“(A) In general.—For purposes of this subsection, the aggregate amount of distributions received by an individual which may be treated as qualified hurricane distributions for any taxable year shall not exceed the excess (if any) of—“(i) $100,000, over“(ii) the aggregate amounts treated as qualified hurricane distributions received by such individual for all prior taxable years.“(B) Treatment of plan distributions.—If a distribution to an individual would (without regard to subparagraph (A)) be a qualified hurricane distribution, a plan shall not be treated as violating any requirement of this title merely because the plan treats such distribution as a qualified hurricane distribution, unless the aggregate amount of such distributions from all plans maintained by the employer (and any member of any controlled group which includes the employer) to such individual exceeds $100,000.“(C) Controlled group.—For purposes of subparagraph (B), the term ‘controlled group’ means any group treated as a single employer under subsection (b), (c), (m), or (o) of section 414.“(3) Amount distributed may be repaid.—“(A) In general.—Any individual who receives a qualified hurricane distribution may, at any time during the 3-year period beginning on the day after the date on which such distribution was received, make one or more contributions in an aggregate amount not to exceed the amount of such distribution to an eligible retirement plan of which such individual is a beneficiary and to which a rollover contribution of such distribution could be made under section 402(c), 403(a)(4), 403(b)(8), 408(d)(3), or 457(e)(16), as the case may be.119 STAT. 2597“(B) Treatment of repayments of distributions from eligible retirement plans other than iras.—For purposes of this title, if a contribution is made pursuant to subparagraph (A) with respect to a qualified hurricane distribution from an eligible retirement plan other than an individual retirement plan, then the taxpayer shall, to the extent of the amount of the contribution, be treated as having received the qualified hurricane distribution in an eligible rollover distribution (as defined in section 402(c)(4)) and as having transferred the amount to the eligible retirement plan in a direct trustee to trustee transfer within 60 days of the distribution.“(C) Treatment of repayments for distributions from iras.—For purposes of this title, if a contribution is made pursuant to subparagraph (A) with respect to a qualified hurricane distribution from an individual retirement plan (as defined by section 7701(a)(37)), then, to the extent of the amount of the contribution, the qualified hurricane distribution shall be treated as a distribution described in section 408(d)(3) and as having been transferred to the eligible retirement plan in a direct trustee to trustee transfer within 60 days of the distribution.“(4) Definitions.—For purposes of this subsection—“(A) Qualified hurricane distribution.—Except as provided in paragraph (2), the term ‘qualified hurricane distribution’ means—“(i) any distribution from an eligible retirement plan made on or after August 25, 2005, and before January 1, 2007, to an individual whose principal place of abode on August 28, 2005, is located in the Hurricane Katrina disaster area and who has sustained an economic loss by reason of Hurricane Katrina,“(ii) any distribution (which is not described in clause (i)) from an eligible retirement plan made on or after September 23, 2005, and before January 1, 2007, to an individual whose principal place of abode on September 23, 2005, is located in the Hurricane Rita disaster area and who has sustained an economic loss by reason of Hurricane Rita, and“(iii) any distribution (which is not described in clause (i) or (ii)) from an eligible retirement plan made on or after October 23, 2005, and before January 1, 2007, to an individual whose principal place of abode on October 23, 2005, is located in the Hurricane Wilma disaster area and who has sustained an economic loss by reason of Hurricane Wilma.“(B) Eligible retirement plan.—The term ‘eligible retirement plan’ shall have the meaning given such term by section 402(c)(8)(B).“(5) Income inclusion spread over 3-year period.—“(A) In general.—In the case of any qualified hurricane distribution, unless the taxpayer elects not to have this paragraph apply for any taxable year, any amount required to be included in gross income for such taxable year shall be so included ratably over the 3-taxable year period beginning with such taxable year.119 STAT. 2598“(B) Special rule.—For purposes of subparagraph (A), rules similar to the rules of subparagraph (E) of section 408A(d)(3) shall apply.“(6) Special rules.—“(A) Exemption of distributions from trustee to trustee transfer and withholding rules.—For purposes of sections 401(a)(31), 402(f), and 3405, qualified hurricane distributions shall not be treated as eligible rollover distributions.“(B) Qualified hurricane distributions treated as meeting plan distribution requirements.—For purposes this title, a qualified hurricane distribution shall be treated as meeting the requirements of sections 401(k)(2)(B)(i), 403(b)(7)(A)(ii), 403(b)(11), and 457(d)(1)(A).“(b) Recontributions of Withdrawals for Home Purchases.—“(1) Recontributions.—“(A) In general.—Any individual who received a qualified distribution may, during the applicable period, make one or more contributions in an aggregate amount not to exceed the amount of such qualified distribution to an eligible retirement plan (as defined in section 402(c)(8)(B)) of which such individual is a beneficiary and to which a rollover contribution of such distribution could be made under section 402(c), 403(a)(4), 403(b)(8), or 408(d)(3), as the case may be.“(B) Treatment of repayments.—Rules similar to the rules of subparagraphs (B) and (C) of subsection (a)(3) shall apply for purposes of this subsection.“(2) Qualified distribution.—For purposes of this subsection—“(A) In general.—The term ‘qualified distribution’ means any qualified Katrina distribution, any qualified Rita distribution, and any qualified Wilma distribution.“(B) Qualified katrina distribution.—The term ‘qualified Katrina distribution’ means any distribution—“(i) described in section 401(k)(2)(B)(i)(IV), 403(b)(7)(A)(ii) (but only to the extent such distribution relates to financial hardship), 403(b)(11)(B), or 72(t)(2)(F),“(ii) received after February 28, 2005, and before August 29, 2005, and“(iii) which was to be used to purchase or construct a principal residence in the Hurricane Katrina disaster area, but which was not so purchased or constructed on account of Hurricane Katrina.“(C) Qualified rita distribution.—The term ‘qualified Rita distribution’ means any distribution (other than a qualified Katrina distribution)—“(i) described in section 401(k)(2)(B)(i)(IV), 403(b)(7)(A)(ii) (but only to the extent such distribution relates to financial hardship), 403(b)(11)(B), or 72(t)(2)(F),“(ii) received after February 28, 2005, and before September 24, 2005, and“(iii) which was to be used to purchase or construct a principal residence in the Hurricane Rita disaster 119 STAT. 2599 area, but which was not so purchased or constructed on account of Hurricane Rita.“(D) Qualified wilma distribution.—The term ‘qualified Wilma distribution’ means any distribution (other than a qualified Katrina distribution or a qualified Rita distribution)—“(i) described in section 401(k)(2)(B)(i)(IV), 403(b)(7)(A)(ii) (but only to the extent such distribution relates to financial hardship), 403(b)(11)(B), or 72(t)(2)(F),“(ii) received after February 28, 2005, and before October 24, 2005, and“(iii) which was to be used to purchase or construct a principal residence in the Hurricane Wilma disaster area, but which was not so purchased or constructed on account of Hurricane Wilma.“(3) Applicable period.—For purposes of this subsection, the term ‘applicable period’ means—“(A) with respect to any qualified Katrina distribution, the period beginning on August 25, 2005, and ending on February 28, 2006,“(B) with respect to any qualified Rita distribution, the period beginning on September 23, 2005, and ending on February 28, 2006, and“(C) with respect to any qualified Wilma distribution, the period beginning on October 23, 2005, and ending on February 28, 2006.“(c) Loans From Qualified Plans.—“(1) Increase in limit on loans not treated as distributions.—In the case of any loan from a qualified employer plan (as defined under section 72(p)(4)) to a qualified individual made during the applicable period—“(A) clause (i) of section 72(p)(2)(A) shall be applied by substituting ‘$100,000’ for ‘$50,000’, and“(B) clause (ii) of such section shall be applied by substituting ‘the present value of the nonforfeitable accrued benefit of the employee under the plan’ for ‘one-half of the present value of the nonforfeitable accrued benefit of the employee under the plan’.“(2) Delay of repayment.—In the case of a qualified individual with an outstanding loan on or after the qualified beginning date from a qualified employer plan (as defined in section 72(p)(4))—“(A) if the due date pursuant to subparagraph (B) or (C) of section 72(p)(2) for any repayment with respect to such loan occurs during the period beginning on the qualified beginning date and ending on December 31, 2006, such due date shall be delayed for 1 year,“(B) any subsequent repayments with respect to any such loan shall be appropriately adjusted to reflect the delay in the due date under paragraph (1) and any interest accruing during such delay, and“(C) in determining the 5-year period and the term of a loan under subparagraph (B) or (C) of section 72(p)(2), the period described in subparagraph (A) shall be disregarded.119 STAT. 2600“(3) Qualified individual.—For purposes of this sub- section—“(A) In general.—The term ‘qualified individual’ means any qualified Hurricane Katrina individual, any qualified Hurricane Rita individual, and any qualified Hurricane Wilma individual.“(B) Qualified hurricane katrina individual.—The term ‘qualified Hurricane Katrina individual’ means an individual whose principal place of abode on August 28, 2005, is located in the Hurricane Katrina disaster area and who has sustained an economic loss by reason of Hurricane Katrina.“(C) Qualified hurricane rita individual.—The term ‘qualified Hurricane Rita individual’ means an individual (other than a qualified Hurricane Katrina individual) whose principal place of abode on September 23, 2005, is located in the Hurricane Rita disaster area and who has sustained an economic loss by reason of Hurricane Rita.“(D) Qualified hurricane wilma individual.—The term ‘qualified Hurricane Wilma individual’ means an individual (other than a qualified Hurricane Katrina individual or a qualified Hurricane Rita individual) whose principal place of abode on October 23, 2005, is located in the Hurricane Wilma disaster area and who has sustained an economic loss by reason of Hurricane Wilma.“(4) Applicable period; qualified beginning date.—For purposes of this subsection—“(A) Hurricane katrina.—In the case of any qualified Hurricane Katrina individual—“(i) the applicable period is the period beginning on September 24, 2005, and ending on December 31, 2006, and“(ii) the qualified beginning date is August 25, 2005.“(B) Hurricane rita.—In the case of any qualified Hurricane Rita individual—“(i) the applicable period is the period beginning on the date of the enactment of this subsection and ending on December 31, 2006, and“(ii) the qualified beginning date is September 23, 2005.“(C) Hurricane wilma.—In the case of any qualified Hurricane Wilma individual—“(i) the applicable period is the period beginning on the date of the enactment of this subparagraph and ending on December 31, 2006, and“(ii) the qualified beginning date is October 23, 2005.“(d) Provisions Relating to Plan Amendments.—“(1) In general.—If this subsection applies to any amendment to any plan or annuity contract, such plan or contract shall be treated as being operated in accordance with the terms of the plan during the period described in paragraph (2)(B)(i).“(2) Amendments to which subsection applies.—119 STAT. 2601“(A) In general.—This subsection shall apply to any amendment to any plan or annuity contract which is made—“(i) pursuant to any provision of this section, or pursuant to any regulation issued by the Secretary or the Secretary of Labor under any provision of this section, and“(ii) on or before the last day of the first plan year beginning on or after January 1, 2007, or such later date as the Secretary may prescribe.In the case of a governmental plan (as defined in section 414(d)), clause (ii) shall be applied by substituting the date which is 2 years after the date otherwise applied under clause (ii).“(B) Conditions.—This subsection shall not apply to any amendment unless—“(i) during the period—“(I) beginning on the date that this section or the regulation described in subparagraph (A)(i) takes effect (or in the case of a plan or contract amendment not required by this section or such regulation, the effective date specified by the plan), and“(II) ending on the date described in subparagraph (A)(ii) (or, if earlier, the date the plan or contract amendment is adopted),the plan or contract is operated as if such plan or contract amendment were in effect; and“(ii) such plan or contract amendment applies retroactively for such period. “SEC. 1400R. EMPLOYMENT RELIEF.“(a) Employee Retention Credit for Employers Affected by Hurricane Katrina.—“(1) In general.—For purposes of section 38, in the case of an eligible employer, the Hurricane Katrina employee retention credit for any taxable year is an amount equal to 40 percent of the qualified wages with respect to each eligible employee of such employer for such taxable year. For purposes of the preceding sentence, the amount of qualified wages which may be taken into account with respect to any individual shall not exceed $6,000.“(2) Definitions.—For purposes of this subsection—“(A) Eligible employer.—The term ‘eligible employer’ means any employer—“(i) which conducted an active trade or business on August 28, 2005, in the GO Zone, and“(ii) with respect to whom the trade or business described in clause (i) is inoperable on any day after August 28, 2005, and before January 1, 2006, as a result of damage sustained by reason of Hurricane Katrina.“(B) Eligible employee.—The term ‘eligible employee’ means with respect to an eligible employer an employee whose principal place of employment on August 28, 2005, with such eligible employer was in the GO Zone.119 STAT. 2602“(C) Qualified wages.—The term ‘qualified wages’ means wages (as defined in section 51(c)(1), but without regard to section 3306(b)(2)(B)) paid or incurred by an eligible employer with respect to an eligible employee on any day after August 28, 2005, and before January 1, 2006, which occurs during the period—“(i) beginning on the date on which the trade or business described in subparagraph (A) first became inoperable at the principal place of employment of the employee immediately before Hurricane Katrina, and“(ii) ending on the date on which such trade or business has resumed significant operations at such principal place of employment.Such term shall include wages paid without regard to whether the employee performs no services, performs services at a different place of employment than such principal place of employment, or performs services at such principal place of employment before significant operations have resumed.“(3) Certain rules to apply.—For purposes of this subsection, rules similar to the rules of sections 51(i)(1) and 52 shall apply.“(4) Employee not taken into account more than once.—An employee shall not be treated as an eligible employee for purposes of this subsection for any period with respect to any employer if such employer is allowed a credit under section 51 with respect to such employee for such period.“(b) Employee Retention Credit for Employers Affected by Hurricane Rita.—“(1) In general.—For purposes of section 38, in the case of an eligible employer, the Hurricane Rita employee retention credit for any taxable year is an amount equal to 40 percent of the qualified wages with respect to each eligible employee of such employer for such taxable year. For purposes of the preceding sentence, the amount of qualified wages which may be taken into account with respect to any individual shall not exceed $6,000.“(2) Definitions.—For purposes of this subsection—“(A) Eligible employer.—The term ‘eligible employer’ means any employer—“(i) which conducted an active trade or business on September 23, 2005, in the Rita GO Zone, and“(ii) with respect to whom the trade or business described in clause (i) is inoperable on any day after September 23, 2005, and before January 1, 2006, as a result of damage sustained by reason of Hurricane Rita.“(B) Eligible employee.—The term ‘eligible employee’ means with respect to an eligible employer an employee whose principal place of employment on September 23, 2005, with such eligible employer was in the Rita GO Zone.“(C) Qualified wages.—The term ‘qualified wages’ means wages (as defined in section 51(c)(1), but without regard to section 3306(b)(2)(B)) paid or incurred by an eligible employer with respect to an eligible employee on 119 STAT. 2603 any day after September 23, 2005, and before January 1, 2006, which occurs during the period—“(i) beginning on the date on which the trade or business described in subparagraph (A) first became inoperable at the principal place of employment of the employee immediately before Hurricane Rita, and“(ii) ending on the date on which such trade or business has resumed significant operations at such principal place of employment.Such term shall include wages paid without regard to whether the employee performs no services, performs services at a different place of employment than such principal place of employment, or performs services at such principal place of employment before significant operations have resumed.“(3) Certain rules to apply.—For purposes of this subsection, rules similar to the rules of sections 51(i)(1) and 52 shall apply.“(4) Employee not taken into account more than once.—An employee shall not be treated as an eligible employee for purposes of this subsection for any period with respect to any employer if such employer is allowed a credit under subsection (a) or section 51 with respect to such employee for such period.“(c) Employee Retention Credit for Employers Affected by Hurricane Wilma.—“(1) In general.—For purposes of section 38, in the case of an eligible employer, the Hurricane Wilma employee retention credit for any taxable year is an amount equal to 40 percent of the qualified wages with respect to each eligible employee of such employer for such taxable year. For purposes of the preceding sentence, the amount of qualified wages which may be taken into account with respect to any individual shall not exceed $6,000.“(2) Definitions.—For purposes of this subsection—“(A) Eligible employer.—The term ‘eligible employer’ means any employer—“(i) which conducted an active trade or business on October 23, 2005, in the Wilma GO Zone, and“(ii) with respect to whom the trade or business described in clause (i) is inoperable on any day after October 23, 2005, and before January 1, 2006, as a result of damage sustained by reason of Hurricane Wilma.“(B) Eligible employee.—The term ‘eligible employee’ means with respect to an eligible employer an employee whose principal place of employment on October 23, 2005, with such eligible employer was in the Wilma GO Zone.“(C) Qualified wages.—The term ‘qualified wages’ means wages (as defined in section 51(c)(1), but without regard to section 3306(b)(2)(B)) paid or incurred by an eligible employer with respect to an eligible employee on any day after October 23, 2005, and before January 1, 2006, which occurs during the period—“(i) beginning on the date on which the trade or business described in subparagraph (A) first became inoperable at the principal place of employment of 119 STAT. 2604 the employee immediately before Hurricane Wilma, and“(ii) ending on the date on which such trade or business has resumed significant operations at such principal place of employment.Such term shall include wages paid without regard to whether the employee performs no services, performs services at a different place of employment than such principal place of employment, or performs services at such principal place of employment before significant operations have resumed.“(3) Certain rules to apply.—For purposes of this subsection, rules similar to the rules of sections 51(i)(1) and 52 shall apply.“(4) Employee not taken into account more than once.—An employee shall not be treated as an eligible employee for purposes of this subsection for any period with respect to any employer if such employer is allowed a credit under subsection (a) or (b) or section 51 with respect to such employee for such period. “SEC. 1400S. ADDITIONAL TAX RELIEF PROVISIONS.“(a) Temporary Suspension of Limitations on Charitable Contributions.—“(1) In general.—Except as otherwise provided in paragraph (2), section 170(b) shall not apply to qualified contributions and such contributions shall not be taken into account for purposes of applying subsections (b) and (d) of section 170 to other contributions.“(2) Treatment of excess contributions.—For purposes of section 170—“(A) Individuals.—In the case of an individual—“(i) Limitation.—Any qualified contribution shall be allowed only to the extent that the aggregate of such contributions does not exceed the excess of the taxpayer’s contribution base (as defined in subparagraph (F) of section 170(b)(1)) over the amount of all other charitable contributions allowed under section 170(b)(1).“(ii) Carryover.—If the aggregate amount of qualified contributions made in the contribution year (within the meaning of section 170(d)(1)) exceeds the limitation of clause (i), such excess shall be added to the excess described in the portion of subparagraph (A) of such section which precedes clause (i) thereof for purposes of applying such section.“(B) Corporations.—In the case of a corporation—“(i) Limitation.—Any qualified contribution shall be allowed only to the extent that the aggregate of such contributions does not exceed the excess of the taxpayer’s taxable income (as determined under paragraph (2) of section 170(b)) over the amount of all other charitable contributions allowed under such paragraph.“(ii) Carryover.—Rules similar to the rules of subparagraph (A)(ii) shall apply for purposes of this subparagraph.119 STAT. 2605“(3) Exception to overall limitation on itemized deductions.—So much of any deduction allowed under section 170 as does not exceed the qualified contributions paid during the taxable year shall not be treated as an itemized deduction for purposes of section 68.“(4) Qualified contributions.—“(A) In general.—For purposes of this subsection, the term ‘qualified contribution’ means any charitable contribution (as defined in section 170(c)) if—“(i) such contribution is paid during the period beginning on August 28, 2005, and ending on December 31, 2005, in cash to an organization described in section 170(b)(1)(A) (other than an organization described in section 509(a)(3)),“(ii) in the case of a contribution paid by a corporation, such contribution is for relief efforts related to Hurricane Katrina, Hurricane Rita, or Hurricane Wilma, and“(iii) the taxpayer has elected the application of this subsection with respect to such contribution.“(B) Exception.—Such term shall not include a contribution if the contribution is for establishment of a new, or maintenance in an existing, segregated fund or account with respect to which the donor (or any person appointed or designated by such donor) has, or reasonably expects to have, advisory privileges with respect to distributions or investments by reason of the donor’s status as a donor.“(C) Application of election to partnerships and s corporations.—In the case of a partnership or S corporation, the election under subparagraph (A)(iii) shall be made separately by each partner or shareholder.“(b) Suspension of Certain Limitations on Personal Casualty Losses.—Paragraphs (1) and (2)(A) of section 165(h) shall not apply to losses described in section 165(c)(3)—“(1) which arise in the Hurricane Katrina disaster area on or after August 25, 2005, and which are attributable to Hurricane Katrina,“(2) which arise in the Hurricane Rita disaster area on or after September 23, 2005, and which are attributable to Hurricane Rita, or“(3) which arise in the Hurricane Wilma disaster area on or after October 23, 2005, and which are attributable to Hurricane Wilma.In the case of any other losses, section 165(h)(2)(A) shall be applied without regard to the losses referred to in the preceding sentence.“(c) Required Exercise of Authority Under Section 7508A.—In the case of any taxpayer determined by the Secretary to be affected by the Presidentially declared disaster relating to Hurricane Katrina, Hurricane Rita, or Hurricane Wilma, any relief provided by the Secretary under section 7508A shall be for a period ending not earlier than February 28, 2006.“(d) Special Rule for Determining Earned Income.—“(1) In general.—In the case of a qualified individual, if the earned income of the taxpayer for the taxable year which includes the applicable date is less than the earned income of the taxpayer for the preceding taxable year, the 119 STAT. 2606 credits allowed under sections 24(d) and 32 may, at the election of the taxpayer, be determined by substituting—“(A) such earned income for the preceding taxable year, for“(B) such earned income for the taxable year which includes the applicable date.“(2) Qualified individual.—For purposes of this subsection—“(A) In general.—The term ‘qualified individual’ means any qualified Hurricane Katrina individual, any qualified Hurricane Rita individual, and any qualified Hurricane Wilma individual.“(B) Qualified hurricane katrina individual.—The term ‘qualified Hurricane Katrina individual’ means any individual whose principal place of abode on August 25, 2005, was located—“(i) in the GO Zone, or“(ii) in the Hurricane Katrina disaster area (but outside the GO Zone) and such individual was displaced from such principal place of abode by reason of Hurricane Katrina.“(C) Qualified hurricane rita individual.—The term ‘qualified Hurricane Rita individual’ means any individual (other than a qualified Hurricane Katrina individual) whose principal place of abode on September 23, 2005, was located—“(i) in the Rita GO Zone, or“(ii) in the Hurricane Rita disaster area (but outside the Rita GO Zone) and such individual was displaced from such principal place of abode by reason of Hurricane Rita.“(D) Qualified hurricane wilma individual.—The term ‘qualified Hurricane Wilma individual’ means any individual whose principal place of abode on October 23, 2005, was located—“(i) in the Wilma GO Zone, or“(ii) in the Hurricane Wilma disaster area (but outside the Wilma GO Zone) and such individual was displaced from such principal place of abode by reason of Hurricane Wilma.“(3) Applicable date.—For purposes of this subsection, the term ‘applicable date’ means—“(A) in the case of a qualified Hurricane Katrina individual, August 25, 2005,“(B) in the case of a qualified Hurricane Rita individual, September 23, 2005, and“(C) in the case of a qualified Hurricane Wilma individual, October 23, 2005.“(4) Earned income.—For purposes of this subsection, the term ‘earned income’ has the meaning given such term under section 32(c).“(5) Special rules.—“(A) Application to joint returns.—For purposes of paragraph (1), in the case of a joint return for a taxable year which includes the applicable date—“(i) such paragraph shall apply if either spouse is a qualified individual, and119 STAT. 2607“(ii) the earned income of the taxpayer for the preceding taxable year shall be the sum of the earned income of each spouse for such preceding taxable year.“(B) Uniform application of election.—Any election made under paragraph (1) shall apply with respect to both sections 24(d) and section 32.“(C) Errors treated as mathematical error.—For purposes of section 6213, an incorrect use on a return of earned income pursuant to paragraph (1) shall be treated as a mathematical or clerical error.“(D) No effect on determination of gross income, etc.—Except as otherwise provided in this subsection, this title shall be applied without regard to any substitution under paragraph (1).“(e) Secretarial Authority To Make Adjustments Regarding Taxpayer and Dependency Status.—With respect to taxable years beginning in 2005 or 2006, the Secretary may make such adjustments in the application of the internal revenue laws as may be necessary to ensure that taxpayers do not lose any deduction or credit or experience a change of filing status by reason of temporary relocations by reason of Hurricane Katrina, Hurricane Rita, or Hurricane Wilma. Any adjustments made under the preceding sentence shall ensure that an individual is not taken into account by more than one taxpayer with respect to the same tax benefit. “SEC. 1400T. SPECIAL RULES FOR MORTGAGE REVENUE BONDS.“(a) In General.—In the case of financing provided with respect to owner-occupied residences in the GO Zone, the Rita GO Zone, or the Wilma GO Zone, section 143 shall be applied—“(1) by treating any such residence in the Rita GO Zone or the Wilma GO Zone as a targeted area residence,“(2) by applying subsection (f)(3) thereof without regard to subparagraph (A) thereof, and“(3) by substituting ‘$150,000’ for ‘$15,000’ in subsection (k)(4) thereof.“(b) Application.—Subsection (a) shall not apply to financing provided after December 31, 2010.” .(b) Conforming Amendments.—(1) Subsection (b) of section 38, as amended by this Act, is amended by striking “and” at the end of paragraph (26), by striking the period at the end of paragraph (27) and inserting a comma, and by adding at the end the following new paragraphs:“(28) the Hurricane Katrina employee retention credit determined under section 1400R(a),“(29) the Hurricane Rita employee retention credit determined under section 1400R(b), and“(30) the Hurricane Wilma employee retention credit determined under section 1400R(c).”.(2) Section 280C(a), as amended by this Act, is amended by striking “and 1400P(b)” and inserting “1400P(b), and 1400R”.(3) The table of sections for part II of subchapter Y of chapter 1 is amended by adding at the end the following new items: “Sec. 1400Q. Special rules for use of retirement funds. “Sec. 1400R. Employment relief. “Sec. 1400S. Additional tax relief provisions.”. 119 STAT. 2608(4) The following provisions of the Katrina Emergency Tax Relief Act of 2005 are hereby repealed:(A) Title I.(B) Sections 202, 301, 402, 403(b), 406, and 407.