Text: H.R.735 — 111th Congress (2009-2010)All Information (Except Text)

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Introduced in House (01/28/2009)


111th CONGRESS
1st Session
H. R. 735


To amend the Internal Revenue Code of 1986 to provide that penalties and interest will not be imposed on individuals who are citizens of the United States.


IN THE HOUSE OF REPRESENTATIVES

January 28, 2009

Mr. Carter 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 provide that penalties and interest will not be imposed on individuals who are citizens of the United States.

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

SECTION 1. Short title.

This Act may be cited as the “Rangel Rule Act of 2009”.

SEC. 2. Penalties and interest not imposed on individuals who are citizens of the United States.

(a) In general.—Chapter 77 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section:

“SEC. 7529. United states citizens exempt from penalties and interest.

“Any individual who is a citizen of the United States and who writes ‘Rangel Rule’ on the top of the first page of the return of tax imposed by chapter 1 for any taxable year shall be exempt from any requirement to pay interest, and from any penalty, addition to tax, or additional amount, with respect to such return.”.

(b) Clerical amendment.—The table of sections for such chapter is amended by adding at the end the following new item:


“Sec. 7529. United states citizens exempt from penalties and interest.”.