TEMPORARY TAX RELIEF FOR KIOWA COUNTY, KANSAS AND SURROUNDING AREA.

SEC. 15345. TEMPORARY TAX RELIEF FOR KIOWA COUNTY, KANSAS AND SURROUNDING AREA.(a) In General.—Subject to the modifications described in this section, the following provisions of or relating to the Internal Revenue Code of 1986 shall apply to the Kansas disaster area in addition to the areas to which such provisions otherwise apply:(1) Section 1400N(d) of such Code (relating to special allowance for certain property).(2) Section 1400N(e) of such Code (relating to increase in expensing under section 179).(3) Section 1400N(f) of such Code (relating to expensing for certain demolition and clean-up costs).(4) Section 1400N(k) of such Code (relating to treatment of net operating losses attributable to storm losses).(5) Section 1400N(n) of such Code (relating to treatment of representations regarding income eligibility for purposes of qualified rental project requirements).(6) Section 1400N(o) of such Code (relating to treatment of public utility property disaster losses).(7) Section 1400Q of such Code (relating to special rules for use of retirement funds).(8) Section 1400R(a) of such Code (relating to employee retention credit for employers).(9) Section 1400S(b) of such Code (relating to suspension of certain limitations on personal casualty losses).(10) Section 405 of the Katrina Emergency Tax Relief Act of 2005 (relating to extension of replacement period for nonrecognition of gain).122 STAT. 1521(b) Kansas Disaster Area.—For purposes of this section, the term “Kansas disaster area” means an area with respect to which a major disaster has been declared by the President under section 401 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act (FEMA–1699–DR, as in effect on the date of the enactment of this Act) by reason of severe storms and tornados beginning on May 4, 2007, and determined by the President to warrant individual or individual and public assistance from the Federal Government under such Act with respect to damages attributable to such storms and tornados.(c) References to Area or Loss.—(1) Area.—Any reference in such provisions to the Katrina disaster area or the Gulf Opportunity Zone shall be treated as a reference to the Kansas disaster area.(2) Loss.—Any reference in such provisions to any loss or damage attributable to Hurricane Katrina shall be treated as a reference to any loss or damage attributable to the May 4, 2007, storms and tornados.(d) References to Dates, etc.—(1) Special allowance for certain property acquired on or after may 5, 2007.—Section 1400N(d) of such Code—(A) by substituting “qualified Recovery Assistance property” for “qualified Gulf Opportunity Zone property” each place it appears,(B) by substituting “May 5, 2007” for “August 28, 2005” each place it appears,(C) by substituting “December 31, 2008” for “December 31, 2007” in paragraph (2)(A)(v),(D) by substituting “December 31, 2009” for “December 31, 2008” in paragraph (2)(A)(v),(E) by substituting “May 4, 2007” for “August 27, 2005” in paragraph (3)(A),(F) by substituting “January 1, 2009” for “January 1, 2008” in paragraph (3)(B), and(G) determined without regard to paragraph (6) thereof.(2) Increase in expensing under section 179.—Section 1400N(e) of such Code, by substituting “qualified section 179 Recovery Assistance property” for “qualified section 179 Gulf Opportunity Zone property” each place it appears.(3) Expensing for certain demolition and clean-up costs.—Section 1400N(f) of such Code—(A) by substituting “qualified Recovery Assistance clean-up cost” for “qualified Gulf Opportunity Zone clean-up cost” each place it appears, and(B) by substituting “beginning on May 4, 2007, and ending on December 31, 2009” for “beginning on August 28, 2005, and ending on December 31, 2007” in paragraph (2) thereof.(4) Treatment of net operating losses attributable to storm losses.—Section 1400N(k) of such Code—(A) by substituting “qualified Recovery Assistance loss” for “qualified Gulf Opportunity Zone loss” each place it appears,(B) by substituting “after May 3, 2007, and before on January 1, 2010” for “after August 27, 2005, and before January 1, 2008” each place it appears,122 STAT. 1522(C) by substituting “May 4, 2007” for “August 28, 2005” in paragraph (2)(B)(ii)(I) thereof,(D) by substituting “qualified Recovery Assistance property” for “qualified Gulf Opportunity Zone property” in paragraph (2)(B)(iv) thereof, and(E) by substituting “qualified Recovery Assistance casualty loss” for “qualified Gulf Opportunity Zone casualty loss” each place it appears.(5) Special rules for use of retirement funds.—Section 1400Q of such Code—(A) by substituting “qualified Recovery Assistance distribution” for “qualified hurricane distribution” each place it appears,(B) by substituting “on or after May 4, 2007, and before January 1, 2009” for “on or after August 25, 2005, and before January 1, 2007” in subsection (a)(4)(A)(i),(C) by substituting “May 4, 2007” for “August 28, 2005” in subsections (a)(4)(A)(i) and (c)(3)(B),(D) disregarding clauses (ii) and (iii) of subsection (a)(4)(A),(E) by substituting “qualified storm distribution” for “qualified Katrina distribution” each place it appears,(F) by substituting “after November 4, 2006, and before May 5, 2007” for “after February 28, 2005, and before August 29, 2005” in subsection (b)(2)(B)(ii),(G) by substituting “the Kansas disaster area (as defined in section 15345(b) of the Food, Conservation, and Energy Act of 2008) but which was not so purchased or constructed on account of the May 4, 2007, storms and tornados” for “the Hurricane Katrina disaster area, but not so purchased or constructed on account of Hurricane Katrina” in subsection (b)(2)(B)(iii),(H) by substituting “beginning on May 4, 2007, and ending on the date which is 5 months after the date of the enactment of the Heartland, Habitat, Harvest, and Horticulture Act of 2008” for “beginning on August 25, 2005, and ending on February 28, 2006” in subsection (b)(3)(A),(I) by substituting “qualified storm individual” for “qualified Hurricane Katrina individual” each place it appears,(J) by substituting “December 31, 2008” for “December 31, 2006” in subsection (c)(2)(A),(K) by substituting “beginning on the date of the enactment of the Food, Conservation, and Energy Act of 2008 and ending on December 31, 2008” for “beginning on September 24, 2005, and ending on December 31, 2006” in subsection (c)(4)(A)(i),(L) by substituting “May 4, 2007” for “August 25, 2005” in subsection (c)(4)(A)(ii), and(M) by substituting “January 1, 2009” for “January 1, 2007” in subsection (d)(2)(A)(ii).(6) Employee retention credit for employers affected by may 4 storms and tornados.—Section 1400R(a) of the Internal Revenue Code of 1986—(A) by substituting “May 4, 2007” for “August 28, 2005” each place it appears,122 STAT. 1523(B) by substituting “January 1, 2008” for “January 1, 2006” both places it appears, and(C) only with respect to eligible employers who employed an average of not more than 200 employees on business days during the taxable year before May 4, 2007.(7) Suspension of certain limitations on personal casualty losses.—Section 1400S(b)(1) of the Internal Revenue Code of 1986, by substituting “May 4, 2007” for “August 25, 2005”.(8) Extension of replacement period for nonrecognition of gain.—Section 405 of the Katrina Emergency Tax Relief Act of 2005, by substituting “on or after May 4, 2007” for “on or after August 25, 2005”.