A bill to amend the Internal Revenue Code of 1954 with respect to the treatment of casualty losses in the case of fruit or nut trees.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to allow an income tax deduction for casualty loss of depreciable fruit or nut trees. Sets a minimum deduction of the fair market value on the date such loss occurs, with a further allowance for an up to ten-year carryback and an up to four-year carryover.…