HR 293

112th CONGRESS
1st Session

H. R. 293

To amend the Internal Revenue Code of 1986 to exclude executive branch officers and employees from nonrecognition rules relating to the sale of property to comply with conflict-of-interest requirements.

IN THE HOUSE OF REPRESENTATIVES

January 12, 2011

Mr. STEARNS introduced the following bill; which was referred to the Committee on Ways and Means

---

A BILL

To amend the Internal Revenue Code of 1986 to exclude executive branch officers and employees from nonrecognition rules relating to the sale of property to comply with conflict-of-interest requirements.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. EXCLUSION OF EXECUTIVE BRANCH OFFICERS AND EMPLOYEES FROM CONFLICT-OF-INTEREST NONRECOGNITION RULES.

(a) In General- Subparagraph (A) of section 1043(b)(1) of the Internal Revenue Code of 1986 is amended by striking `an officer or employee of the executive branch, or a judicial officer,' and inserting `a judicial officer'.

(b) Conforming Amendments-

(1) Paragraphs (1)(A) and (5)(B) of section 1043(b) of such Code are each amended by striking `judicial canon, or executive order' and inserting `or judicial canon'.

(2)(A) Subparagraph (A) of section 1043(b)(2) of such Code is amended by striking `judicial canon, or executive order' and all that follows through `Code)' and inserting `or judicial canon'.

(B) Subparagraph (B) of section 1043(b)(2) of such Code is amended to read as follows:

`(B) that has been issued by the Judicial Conference of the United States (or its designee), and'.

(c) Effective Date- The amendment made by this section shall apply to sales after the date of the enactment of this Act.

END