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<PRE>[DOCID: f:h2825ih.txt]






107th CONGRESS
  1st Session
                                H. R. 2825

To amend the Economic Growth and Tax Relief Reconciliation Act of 2001 
 to change the October 1, 2001, due date for corporate estimated taxes 
                         to September 24, 2001.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             August 2, 2001

Mr. Toomey (for himself, Mr. Flake, Mr. Pitts, Mr. Goode, Mr. Hoekstra, 
 Mr. Ryun of Kanas, Mr. Chabot, Mr. Tiahrt, Mr. Pence, Mr. Vitter, Mr. 
 Weldon of Florida, Mr. Rogers of Michigan, and Mr. Thune) introduced 
  the following bill; which was referred to the Committee on Ways and 
                                 Means

_______________________________________________________________________

                                 A BILL


 
To amend the Economic Growth and Tax Relief Reconciliation Act of 2001 
 to change the October 1, 2001, due date for corporate estimated taxes 
                         to September 24, 2001.

    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 ``Medicare Preservation Act of 2001''.

SEC. 2. TIME FOR PAYMENT OF CORPORATE ESTIMATED TAXES.

    (a) In General.--Paragraph (1) of section 801 of the Economic 
Growth and Tax Relief Reconciliation Act of 2001 is amended to read as 
follows:
            ``(1) 100 percent of the amount of any required installment 
        of corporate estimated tax which is otherwise due September 15, 
        2001, shall not be due until September 24, 2001; and''.
    (b) Authority to Waive Penalties.--Notwithstanding any other 
provision of law, the Secretary of the Treasury may waive any penalty 
or addition to tax imposed on the failure to make the required 
installment of corporate estimated tax in accordance with section 
801(1) of the Economic Growth and Tax Relief Reconciliation Act of 2001 
(as amended by subsection (a) of this section) if such installment is 
made on or before October 1, 2001.
    (c) Effective Date.--Subsection (b) and the amendment made by 
subsection (a) shall take effect on the date of the enactment of this 
Act.
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