A bill to amend the Internal Revenue Code of 1954 with respect to the limitation on the deduction of certain amounts for business gifts.

[AI summary unavailable — showing source text] Increases, under the Internal Revenue Code, to $200 the maximum cost of an item of tangible personal property which is awarded to an employee by reason of length of service or for safety achievement which is excluded from the definition of "gifts" under such Code. (Amends 26 U.S.C. 274(b) (1) (c))…