A bill to provide that no interest will be payable for periods before January 1, 1978, on tax deficiencies which are attributable to the receipt of certain disaster relief payments.

[AI summary unavailable — showing source text] Defers the accrual of interest on any deficiency, under the Internal Revenue Code, until January 1, 1978, where such deficiency results from the fact that an individual was allowed a tax deduction for a loss attributable to a disaster and was subsequently deemed to warrant a disaster assistance grant by the Federal Government under the Disaster Relief Act of 1974.…