To provide temporary tax relief for areas damaged by 2011 Southeastern severe storms, tornados, and flooding, and for other purposes.
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 ``Southeastern Disaster Tax Relief Act of 2011''.
SEC. 2. TEMPORARY TAX RELIEF FOR AREAS DAMAGED BY 2011 SOUTHEASTERN SEVERE STORMS, TORNADOS, AND FLOODING.
(a) In General.--Subject to the modifications described in this section, the following provisions of or relating to the Internal Revenue Code of 1986 shall apply to any Southeastern disaster area in addition to the areas to which such provisions otherwise apply: (1) Go zone benefits.-- (A) Section 1400N (relating to tax benefits) other than subsections (d), (e), (g), (h), and (m) thereof. (B) Section 1400O (relating to education tax benefits). (C) Section 1400Q (relating to special rules for use of retirement funds). (D) Section 1400R(a) (relating to employee retention credit for employers). (E) Section 1400S (relating to additional tax relief). (F) Section 1400T (relating to special rules for mortgage revenue bonds). (2) Other benefits included in katrina emergency tax relief act of 2005.--Sections 302, 401, and 405 of the Katrina Emergency Tax Relief Act of 2005. (b) Southeastern Disaster Area.-- (1) In general.--For purposes of this section and for applying the substitutions described in subsections (d) and (e), the term ``Southeastern disaster area'' means an area-- (A) with respect to which a major disaster has been...