A bill to repeal the new substantiation requirements for deductions attributable to business use of passenger automobiles and certain other types of personal property, and for other purposes.

[AI summary unavailable — showing source text] Repeals the requirement added by the Tax Reform Act of 1984 relating to the maintenance of contemporaneous records with respect to: (1) business travel expenses, including automobile expenses; (2) business entertainment expenses; and (3) expenses for gifts. Directs the Secretary of the Treasury to conduct and report to the Congress on a study of: (1) the amount of overstatement of deductions or credits attributable to the use of cars or other types of property which have substantial personal use; and (2) methods for reducing such overstatements which would impose less paperwork burdens on taxpayers than a requirement of contemporaneous records.…