A bill to amend the Internal Revenue Code of 1954 to allow individuals a deduction for expenses incurred in contiguous less-developed countries.

[AI summary unavailable — showing source text] Authorizes a tax deduction, under the Internal Revenue Code, for amounts paid in any contiguous less-developed country. Limits such deduction to $400 for any taxable year and $200 during any week. Reduces the deduction by five percent of the excess of the taxpayer's adjusted gross income over $15,000. Defines the terms used in this Act.…