September 11th Tax Correction Act - Excludes from gross income, and exempts from the prohibition against tax deductions for expenses and interest relating to tax-exempt income, retention grants paid from Federal community development block grant funds for assistance for properties or businesses damaged by, or for economic revitalization related to, the September 11, 2001, terrorist attacks on New York City.
Exempts such retention grants from information reporting requirements under the Internal Revenue Code.
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