DEDUCTION FOR ENDANGERED SPECIES RECOVERY EXPENDITURES.

SEC. 15303. DEDUCTION FOR ENDANGERED SPECIES RECOVERY EXPENDITURES.(a) Deduction for Endangered Species Recovery Expenditures.—(1) In general.—Paragraph (1) of section 175(c) (relating to definitions) is amended by inserting after the first sentence the following new sentence: “Such term shall include expenditures paid or incurred for the purpose of achieving site-specific management actions recommended in recovery plans approved pursuant to the Endangered Species Act of 1973.”.(2) Conforming amendments.—(A) Section 175 is amended by inserting “, or for endangered species recovery” after “prevention of erosion of land used in farming” each place it appears in subsections (a) and (c).(B) The heading of section 175 is amended by inserting “; endangered species recovery expenditures” before the period.(C) The item relating to section 175 in the table of sections for part VI of subchapter B of chapter 1 is amended 122 STAT. 2264 by inserting “; endangered species recovery expenditures” before the period.(b) Limitations.—Paragraph (3) of section 175(c) (relating to additional limitations) is amended—(1) in the heading of subparagraph (A), by inserting “or endangered species recovery plan” after “conservation plan”, and(2) in subparagraph (A)(i), by inserting “or the recovery plan approved pursuant to the Endangered Species Act of 1973” after “Department of Agriculture”.(c) Effective Date.—The amendments made by this section shall apply to expenditures paid or incurred after December 31, 2008.