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<PRE>[DOCID: f:h3083ih.txt]






107th CONGRESS
  1st Session
                                H. R. 3083

 To amend the Internal Revenue Code of 1986 to restore the 80 percent 
            deduction for meals and entertainment expenses.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            October 10, 2001

   Mr. Smith of New Jersey 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 restore the 80 percent 
            deduction for meals and entertainment expenses.

    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 ``Meal Tax Reduction Act''.

SEC. 2. INCREASED DEDUCTION FOR MEALS AND ENTERTAINMENT EXPENSES.

    (a) In General.--Paragraph (1) of section 274(n) of the Internal 
Revenue Code of 1986 (relating to only 50 percent of meal and 
entertainment expenses allowed as deduction) is amended by striking 
``50 percent'' and inserting ``80 percent''.
    (b) Conforming Amendments.--
            (1) Paragraph (3) of section 274(n) of such Code is hereby 
        repealed.
            (2) The heading for subsection (n) of section 274 of such 
        Code is amended by striking ``50 Percent'' and inserting ``80 
        Percent''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2001.
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