Sec. 1027. IDENTIFICATION OF LIMITED TAX BENEFITS

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## Sec. 1027 IDENTIFICATION OF LIMITED TAX BENEFITS **[**[2 U.S.C. 691f](/us/usc/t2/s691f)**]** ###

(a)Statement by Joint Tax Committee The Joint Committee on Taxation shall review any revenue or reconciliation bill or joint resolution which includes any amendment to the Internal Revenue Code of 1986 that is being prepared for filing by a committee of conference of the two Houses, and shall identify whether such bill or joint resolution contains any limited tax benefits. The Joint Committee on Taxation shall provide to the committee of conference a statement identifying any such limited tax benefits or declaring that the bill or joint resolution does not contain any limited tax benefits. Any such statement shall be made available to any Member of Congress by the Joint Committee on Taxation immediately upon request. ###

(b)Statement Included in Legislation ####

(1)Notwithstanding any other rule of the House of Representatives or any rule or precedent of the Senate, any revenue or reconciliation bill or joint resolution which includes any amendment to the Internal Revenue Code of 1986 reported by a committee of conference of the two Houses may include, as a separate section of such bill or joint resolution, the information contained in the statement of the Joint Committee on Taxation, but only in the manner set forth in paragraph (2). ####

(2)The separate section permitted under paragraph

(1)shall read as follows: “Section 1021(a)(3) of the Congressional Budget and Impoundment Control Act of 1974 shall ———— apply to ——————.”, with the blank spaces being filled in with— #####

(A)in any case in which the Joint Committee on Taxation identifies limited tax benefits in the statement required under subsection (a), the word “only” in the first blank space and a list of all of the specific provisions of the bill or joint resolution identified by the Joint Committee on Taxation in such statement in the second blank space; or #####

(B)in any case in which the Joint Committee on Taxation declares that there are no limited tax benefits in the statement required under subsection (a), the word “not” in the first blank space and the phrase “any provision of this Act” in the second blank space. ###

(c)President's Authority If any revenue or reconciliation bill or joint resolution is signed into law pursuant to Article I, section 7, of the Constitution of the United States— ####

(1)with a separate section described in subsection (b)(2), then the President may use the authority granted in section 1021(a)(3) only to cancel any limited tax benefit in that law, if any, identified in such separate section; or ####

(2)without a separate section described in subsection (b)(2), then the President may use the authority granted in section 1021(a)(3) to cancel any limited tax benefit in that law that meets the definition in section 1026. ###

(d)Congressional Identifications of Limited Tax Benefits There shall be no judicial review of the congressional identification under subsections

(a)and

(b)of a limited tax benefit in a conference report.

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2 USC 691f

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Sec. 1027

IDENTIFICATION OF LIMITED TAX BENEFITS

Cite2 USC 691f

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