Disregard veteran disability compensation or pension payments in determining income for purposes of the low income housing tax credit and…

Section 142(d)(2)(B) of the Internal Revenue Code of 1986 is amended by adding at the end the following new clause:

For purposes of determining income under this subparagraph, payments of disability compensation or pension under chapter 11 or 15 of title 38, United States Code, shall be disregarded.

The amendments made by this section shall apply to determinations made after the date of the enactment of this Act.