ENHANCED CHARITABLE DEDUCTIONS FOR CONTRIBUTIONS OF FOOD INVENTORY.

SEC. 323. ENHANCED CHARITABLE DEDUCTIONS FOR CONTRIBUTIONS OF FOOD INVENTORY.(a) Increased Amount of Deduction.—(1) In general.—Clause (iv) of section 170(e)(3)(C) (relating to termination) is amended by striking “December 31, 2007” and inserting “December 31, 2009”.(2) Effective date.—The amendment made by this subsection shall apply to contributions made after December 31, 2007.(b) Temporary Suspension of Limitations on Charitable Contributions.—(1) In general.—Section 170(b) is amended by adding at the end the following new paragraph:“(3) Temporary suspension of limitations on charitable contributions.—In the case of a qualified farmer or rancher (as defined in paragraph (1)(E)(v)), any charitable contribution of food—“(A) to which subsection (e)(3)(C) applies (without regard to clause (ii) thereof), and“(B) which is made during the period beginning on the date of the enactment of this paragraph and before January 1, 2009,122 STAT. 3875shall be treated for purposes of paragraph (1)(E) or (2)(B), whichever is applicable, as if it were a qualified conservation contribution which is made by a qualified farmer or rancher and which otherwise meets the requirements of such paragraph.”.(2) Effective date.—The amendment made by this subsection shall apply to taxable years ending after the date of the enactment of this Act.