Pete Sessions: “there is a substitute amendment at the desk. I ask that the amendment be considered and agreed to; the motion to…”

“there is a substitute amendment at the desk. I ask that the amendment be considered and agreed to; the motion to reconsider be laid upon the table; the bill, as amended, be read a third time, passed, and the motion to reconsider be laid upon the table; that any statements relating thereto be printed in the Record, without intervening action or debate. The PRESIDING OFFICER. Without objection, it is so ordered. The amendment (No. 411) was agreed to, as follows: Strike all after the enacting clause and insert the following: SEC. __. PROPER TAX TREATMENT OF CERTAIN DISASTER MITIGATION PAYMENTS. (a) Qualified Disaster Mitigation Payments Excluded From Gross Income.-- (1) In general.--Section 139 of the Internal Revenue Code of 1986 (relating to disaster relief payments) is amended by adding at the end the following new subsections: ``(g) Qualified Disaster Mitigation Payments.-- ``(1) In general.--Gross income shall not include any amount received as a qualified disaster mitigation payment. ``(2) Qualified disaster mitigation payment defined.--For purposes of this section, the term `qualified disaster mitigation payment' means any amount which is paid pursuant to the Robert T. Stafford Disaster Relief and Emergency Assistance Act (as in effect on the date of the enactment of this subsection) or the National Flood Insurance Act (as in effect on such date) to or for the benefit of the owner of any property for hazard mitigation with respect to such property.…”