,i  #aac? ,,congress  #a/ ,session  ,h4 
,r4 #bdc  ,,9 ,,! ,,h\se ,,(            
,,repres5tatives  ,janu>y #ad1 #bjac    
,mr4 ,ross introduc$ ! foll[+ bill2 :i* 
0 ref]r$ to ! ,committee on ,ways &     
,means1 & 9 addition to ! ,committees on
 ,ov]sight & ,gov]nm5t ,re=m1 ,h\se     
,adm9i/ration1 ,rules1 & ! ,budget1 = a 
p]iod to be subsequ5tly det]m9$ by !    
,speak]1 9 ea* case = consid]ation ( su*
 provisions z fall )9 ! jurisdiction ( !
 committee conc]n$  ,a ,,bill  ,to adopt
 ! sev5 imm$iate re=ms recomm5d$ by !   
,national ,commission on ,fiscal        
,responsibility & ,re=m to r$uce sp5d+ &
 make ! ,f$]al ,gov]nm5t m effici5t4    
#a4 ,%ort title2 table ( cont5ts  7a7 ,9
 g5]al ,?is ,act may be cit$ z !        
,b[les-,simpson ,plan ( ,l[]+ ,am]ica's 
,debt ,act4  7b7 ,table ( cont5ts ,!    
table ( cont5ts = ?is ,act is z foll[s3 
,sec4 #a4 ,%ort title2 table ( cont5ts4 
,title ,i--,r$uc$ exp5ditures ,sec4     
#aja4 ,r$uction 9 appropriations to !   
,:ite ,h\se & ,congress4 ,sec4 #ajb4    

,d5ial ( c]ta9 annual pay adju/m5ts =   
,memb]s ( ,congress4 ,sec4 #ajc4 ,pay   
freeze = ,f$]al employees4 ,sec4 #ajd4  
,r$uction 9 ,f$]al work=ce4 ,sec4 #aje4 
,r$uction 9 ,gov]nm5t travel co/s4 ,sec4
 #ajf4 ,limitation on ,gov]nm5t pr9t+   
co/s4 ,sec4 #ajg4 ,r$uction 9 ,f$]al    
vehicle co/s4 ,sec4 #ajh4 ,sale ( excess
 ,f$]al prop]ty4 ,sec4 #aji4            
,prohibition on e>m>ks4 ,title          
,,ii--,tax ,re=m ,sec4 #bjj4 ,am5dm5t ( 
#aihf ,code4 ,subtitle ,a--,tax rates   
,sec4 #bja4 ,individual rates4 ,sec4    
#bjb4 ,repeal ( alt]native m9imum tax on
 individuals4 ,sec4 #bjc4 ,p]man5t      
repeal ( p]sonal exemption phase\t4     
,sec4 #bjd4 ,p]man5t repeal ( phase\t ( 
ov]all limitation on itemiz$ d$uctions4 
,sec4 #bje4 ,corporate income tax rate  
r$uc$ to flat rate ( #bj p]c5t4 ,sec4   
#bjf4 ,r5ew$ tempor>y divid5ds receiv$  
d$uction4 ,subtitle ,b--,elim9ation (   
tax exp5ditures ,sec4 #baa4 ,t]m9ation (
 cr$it = increas+ rese>* activities4    
,sec4 #bab4 ,t]m9ation ( d$uction =     

intangible drill+ & developm5t co/s4    
,sec4 #bac4 ,repeal ( dome/ic production
 activities d$uction ) respect to       
production ( coal1 lignite1 or oil %ale4
 ,sec4 #bad4 ,repeal p]c5tage depletion 
= oil & natural gas wells4 ,sec4 #bae4  
,t]m9ation ( cr$it = electricity produc$
 f c]ta9 r5ewable res\rces4 ,sec4 #baf4 
,t]m9ation ( en]gy cr$it4 ,sec4 #bag4   
,repeal ( cr$it = alcohol us$ z fuel4   
,sec4 #bah4 ,repeal ( cr$it = alcohol   
fuel1 biodiesel1 & alt]native fuel      
mixtures4 ,sec4 #bai4 ,repeal ( cr$it = 
biodiesel & r5ewable diesel us$ z fuel4 
,sec4 #bbj4 ,repeal ( cr$it = c]ta9     
plug-9 electric vehicles4 ,sec4 #bba4   
,e>ly t]m9ation ( cr$it = qualifi$ fuel 
cell motor vehicles4 ,sec4 #bbb4 ,repeal
 ( d$uction = en]gy cons]vation         
subsidies provid$ by public utilities4  
,sec4 #bbc4 ,repeal ( qualify+ advanc$  
coal project cr$it4 ,sec4 #bbd4 ,repeal 
( qualify+ gasification project cr$it4  
,sec4 #bbe4 ,repeal ( special all[ance =
 cellulosic bi(uel plant prop]ty4 ,sec4 

#bbf4 ,repeal ( election to exp5se c]ta9
 ref9]ies4 ,sec4 #bbg4 ,repeal ( #b-ye> 
amortization ( geological & geophysical 
exp5ditures4 ,sec4 #bbh4 ,repeal (      
d$uction = en]gy effici5t comm]cial     
build+ prop]ty4 ,sec4 #bbi4 ,repeal (   
cr$it = con/ruction ( new en]gy effici5t
 homes4 ,sec4 #bcj4 ,repeal ( cr$it =   
en]gy effici5t appliances4 ,sec4 #bca4  
,repeal ( cr$it = resid5tial en]gy      
effici5t prop]ty4 ,sec4 #bcb4 ,repeal ( 
advanc$ en]gy project cr$it4 ,sec4 #bcc4
 ,repeal ( cr$it = c>bon dioxide        
seque/ration4 ,sec4 #bcd4 ,repeal (     
l[-income h\s+ cr$it4 ,sec4 #bce4       
,repeal ( ,hope & ,lifetime ,le>n+      
,cr$its4 ,sec4 #bcf4 ,repeal ( "w       
opportunity tax cr$it4 ,sec4 #bcg4      
,repeal ( cr$it = exp5ses = h\sehold &  
dep5d5t c>e s]vices necess>y = ga9ful   
employm5t4 ,sec4 #bch4 ,repeal ( cr$it =
 adoption exp5ses4 ,sec4 #bci4 ,repeal (
 cr$it = exp5ditures to provide access  
to disabl$ individuals4 ,sec4 #bdj4     
,repeal ( e>n$ income tax cr$it4 ,sec4  

#bda4 ,repeal ( en]gy cons]vation       
subsidies provid$ by public utilities4  
,sec4 #bdb4 ,repeal ( election to exp5se
 c]ta9 ref9]y prop]ty4 ,sec4 #bdc4      
,repeal ( d$uction = endang]$ species   
recov]y exp5ditures4 ,sec4 #bdd4 ,repeal
 ( exclusion ( cancellation (           
indebt$ness income ( solv5t f>m]s4 ,sec4
 #bde4 ,repeal ( alt]native m9imum tax  
treatm5t ( c]ta9 prop]ty & casualty     
insurance companies4 ,sec4 #bdf4 ,repeal
 ( small life insurance company         
d$uction4 ,sec4 #bdg4 ,t]m9ation (      
#be1jjj exemption f passive loss rules =
 r5tal real e/ate activities4 ,sec4     
#bdh4 ,repeal ( dis*>ge ( indebt$ness   
exclusion4 ,sec4 #bdi4 ,repeal ( c]ta9  
exceptions = imput$ int]e/ rules4 ,sec4 
#bej4 ,t]m9ation ( p>tial exclusion =   
ga9 f c]ta9 small bus9ess /ock4 ,sec4   
#bea4 ,t]m9ation ( treatm5t ( losses on 
small bus9ess /ock z ord9>y4 ,sec4 #beb4
 ,repeal ( /ud5t loan int]e/ d$uction4  
,sec4 #bec4 ,repeal ( d$uction ( tuition
 & relat$ exp5ses4 ,sec4 #bed4 ,repeal (

 gross income exclusion = ,unit$ ,/ates 
sav+s bonds us$ to pay high] education  
exp5ses4 ,sec4 #bee4 ,elim9ation (      
p]sonal exemption = /ud5ts age #ai &    
old]4 ,sec4 #bef4 ,elim9ation ( above ! 
l9e d$uction = c]ta9 exp5ses ( elem5t>y 
& second>y s*ool tea*]s4 ,sec4 #beg4    
,elim9ation ( gross income exclusion =  
dis*>ge ( c]ta9 /ud5t loan debt4 ,sec4  
#beh4 ,repeal ( exclusion f gross income
 = r5tal value ( p>sonages4 ,sec4 #bei4 
,repeal ( exclusion f gross income =    
b5efits provid$ to volunte] firefight]s 
& em]g5cy m$ical respond]s4 ,sec4 #bfj4 
,repeal ( special treatm5t ( ,blue      
,cross & ,blue ,%ield organizations1    
etc4 ,sec4 #bfa4 ,s5se ( ! ,h\se reg>d+ 
a t]ritorial tax sy/em4 ,subtitle       
,c--,phase\t ( ,tax ,exp5ditures ,sec4  
#bga4 ,five-ye> phase\t ( c]ta9 tax     
exp5ditures4 ,subtitle ,d--,special     
,/atus ,sec4 #cha4 ,t]m9ation ( qualifi$
 en]gy cons]vation bonds4 ,sec4 #chb4   
,t]m9ation ( new clean r5ewable en]gy   
bonds4 ,sec4 #chc4 ,t]m9ation ( exempt  

facility bond treatm5t = wat]1 sewage1 &
 solid wa/e facilities4 ,sec4 #chd4     
,t]m9ation ( exp5s+ & amortization (    
re=e/ation exp5ditures & exp5s+ (       
timb]-gr[+ co/s4 ,sec4 #che4 ,t]m9ation 
( def]ral ( ga9 on sales ( /ock 9       
agricultural ref9]s & processors to     
eligible f>m coop]atives4 ,sec4 #chf4   
,t]m9ation ( election to exp5se c]ta9   
depreciable bus9ess assets4 ,sec4 #chg4 
,t]m9ation ( qualifi$ small issue bonds4
 ,sec4 #chh4 ,t]m9ation ( exempt        
facility bond treatm5t = qualifi$       
highway or surface freight transf]      
facilities4 ,sec4 #chi4 ,t]m9ation (    
exempt facility bond treatm5t =         
airports1 docks1 & :>ves4 ,sec4 #cij4   
,t]m9ation ( tribal economic developm5t 
bonds4 ,sec4 #cia4 ,t]m9ation (         
exclusion f gross income ( ,unit$ ,/ates
 sav+s bonds int]e/ us$ to pay high]    
education exp5ses4 ,sec4 #cib4          
,t]m9ation ( qualifi$ zone academy      
bonds4 ,sec4 #cic4 ,t]m9ation ( exempt  
facility bond treatm5t = qualifi$ public

 educational facilities4 ,sec4 #cid4    
,t]m9ation ( hospital bonds4  ,i ,r$uc$ 
exp5ditures  #aja4 ,r$uction 9          
appropriations to ! ,:ite ,h\se &       
,congress  7a7 ,appropriations to !     
,:ite ,h\se ,not)/&+ any o!r provision (
 law1 ! total am\nt ( funds appropriat$ 
to ! appropriations acc\nt "u ! head+ ,!
 ,:ite ,h\se "u ! head+ ,,executive     
,,(fice ,,( ,,! ,,presid5t ,,& ,,funds  
,,appropriat$ ,,to ,,! ,,presid5t = ea* 
( fiscal ye>s #bjad ?r\gh #bjah may n   
exce$ #he p]c5t ( ! total am\nt ( funds 
appropriat$ to t acc\nt = fiscal ye>    
#bjac4  7b7 ,appropriations to ,congress
 ,not)/&+ any o!r provision ( law1 !    
total am\nt ( funds appropriat$ "u !    
head+s ,,s5ate & ,,h\se ,,(             
,,repres5tatives = ea* ( fiscal ye>s    
#bjad ?r\gh #bjah may n exce$ #he p]c5t 
( ! total am\nt ( funds appropriat$ "u  
^? head+s = fiscal ye> #bjac4  #ajb4    
,d5ial ( c]ta9 annual pay adju/m5ts =   
,memb]s ( ,congress ,not)/&+ any o!r    
provision ( law1 no adju/m5t %all be    

made "u section #fja7;a7 ( !            
,legislative ,reorganization ,act (     
#aidf 7#b ,u4,s4,c4 #ca7 dur+ fiscal ye>
 #bjad1 #bjae1 or #bjaf4  #ajc4 ,pay    
freeze = ,f$]al employees  7a7 ,9 g5]al 
,section #adg ( ! ,cont9u+              
,appropriations ,act1 #bjaa 7,public    
,law #aaa-bdb2 #e ,u4,s4,c4 #ecjc note71
 z am5d$ by section #aad7;a7 ( !        
,cont9u+ ,appropriations ,resolution1   
#bjac 7,public ,law #aab-age2 #abf ,/at4
 #acaf7 is am5d$--  7#a7 9 subsection   
7b77#a71 by /rik+ ! matt] aft] end+ on &
 be=e %all be made & ins]t+ ,decemb]    
#ca1 #bjae2 &  7#b7 9 subsection 7c71 by
 /rik+ ! matt] aft] end+ on & be=e no   
s5ior executive & ins]t+ ,decemb] #ca1  
#bjae4  7b7 ,elim9ation ( delay$        
adju/m5t ,section #aad7;b7 ( ! ,cont9u+ 
,appropriations ,resolution1 #bjac is   
repeal$4  #ajd4 ,r$uction 9 ,f$]al      
work=ce  7a7 ,def9ition ,= ! purpose (  
?is section--  7#a7 ! t]m total numb] ( 
,f$]al employees means ! total numb] (  
,f$]al employees 9 all ag5cies2  7#b7 ! 

t]m ,f$]al employee means an employee z 
def9$ by section #baje ( title #e1      
,unit$ ,/ates ,code2 &  7#c7 ! t]m ag5cy
 means an ,executive ag5cy z def9$ by   
section #aje ( title #e1 ,unit$ ,/ates  
,code1 exclud+ ! ,gov]nm5t              
,acc\ntability ,(fice4  7b7 ,limitation 
,! ,presid5t1 ?r\gh ! ,(fice (          
,managem5t & ,budget 79 consultation ) !
 ,(fice ( ,p]sonnel ,managem5t71 %all   
take appropriate measures to ensure t1  
effective beg9n+ 9 fiscal ye> #bjag1 !  
total numb] ( ,f$]al employees 7z       
det]m9$ "u subsection 7c77 %all n exce$ 
#ij p]c5t ( ! total numb] ( ,f$]al      
employees z ( ,septemb] #cj1 #bjac 7z s 
det]m9$74  7c7 ,monitor+ & notification 
,! ,(fice ( ,managem5t & ,budget 79     
consultation ) ! ,(fice ( ,p]sonnel     
,managem5t7--  7#a7 %all cont9u\sly     
monitor all ag5cies & make a            
det]m9ation1 z ( ,septemb] #cj1 #bjac1 &
 ! la/ day ( ea* qu>t] ( ea* fiscal ye> 
beg9n+ !reaft]1 z to :e!r or n ! total  
numb] ( ,f$]al employees exce$s !       

maximum numb] all[able "u subsection    
7b72 &  7#b7 :5ev] a det]m9ation "u     
p>agraph 7#a7 is made t ! total numb] ( 
,f$]al employees exce$s ! maximum numb] 
all[able "u subsection 7b71 %all provide
 writt5 notice to t effect to !         
,presid5t & ,congress )9 #ad days aft] !
 la/ day ( ! qu>t] to :i* su*           
det]m9ation relates4  7d7 ,compliance   
,:5ev]1 ) respect to ! qu>t] end+ on    
,septemb] #cj1 #bjaf1 or any subsequ5t  
qu>t]1 ! ,(fice ( ,managem5t & ,budget  
provides writt5 notice "u subsection    
7c77#b7 t ! total numb] ( ,f$]al        
employees exce$s ! maximum numb]        
all[able "u subsection 7b71 no ag5cy may
 !reaft] appo9t any employee to fill any
 vacancy )9 su* ag5cy until ! ,(fice (  
,managem5t & ,budget provides writt5    
notice to ! ,presid5t & ,congress ( a   
det]m9ation "u subsection 7c77#a7 t !   
total numb] ( ,f$]al employees no long] 
exce$s ! maximum numb] all[able "u      
subsection 7b74 ,any notice "u ! prec$+ 
s5t5ce %all be provid$ )9 #ad days aft] 

! la/ day ( ! qu>t] to :i* ! det]m9ation
 relates4  7e7 ,waiv]  7#a7 ,em]g5cies  
,?is section may be waiv$ ^u a          
det]m9ation by ! ,presid5t t--  7,a7 !  
exi/5ce ( a /ate ( w> or o!r national   
security conc]n s requires2 or  7,b7 !  
exi/5ce ( an extraord9>y em]g5cy ?reat5+
 life1 heal?1 public safety1 prop]ty1 or
 ! environm5t s requires4  7#b7 ,ag5cy  
effici5cy or critical mission ,?is      
section may be waiv$1 ) respect to a    
p>ticul> position or category (         
positions 9 an ag5cy1 ^u a det]m9ation  
by ! ,presid5t t ! effici5cy ( ! ag5cy  
or ! p]=mance ( a critical ag5cy mission
 s requires4  7f7 ,replacem5t rate ,to !
 ext5t necess>y to a*ieve ! work=ce     
r$uction requir$ by subsection 7b71 !   
,(fice ( ,managem5t & ,budget 79        
consultation ) ! ,(fice ( ,p]sonnel     
,managem5t7 %all take appropriate       
measures to ensure t ag5cies %all appo9t
 no m ?an #a employee = e #c employees  
retir+ or o!rwise sep>at+ f ,gov]nm5t   
s]vice aft] ! date ( ! enactm5t ( ?is   

,act4 ,?is subsection %all cease to     
apply aft] ,septemb] #cj1 #bjaf4  7g7   
,c\nt+ rule ,= purposes ( ?is section1  
any det]m9ation ( ! numb] ( employees 9 
an ag5cy %all be express$ on a full-"t  
equival5t basis4  7h7 ,limitation on    
procurem5t ( s]vice contracts ,!        
,presid5t1 ?r\gh ! ,(fice ( ,managem5t &
 ,budget 79 consultation ) ! ,(fice (   
,p]sonnel ,managem5t71 %all take        
appropriate measures to ensure t !re is 
no increase 9 ! procurem5t ( s]vice     
contracts by reason ( ! enactm5t ( ?is  
,act1 except 9 cases 9 :i* a co/        
comp>ison demon/rates t su* contracts   
w\ld be to ! f9ancial advantage ( !     
,gov]nm5t4  #aje4 ,r$uction 9 ,gov]nm5t 
travel co/s  7a7 ,def9ition ,9 ?is      
section1 ! t]m ag5cy means an executive 
ag5cy z def9$ "u section #aje ( title   
#e1 ,unit$ ,/ates ,code4  7b7 ,r$uction 
,not)/&+ any o!r provision ( law1 !     
total am\nt ( funds appropriat$ to !    
appropriations acc\nt provid+ = travel  
exp5ses = ea* ag5cy = ea* ( fiscal ye>s 

#bjad1 #bjae1 #bjaf1 #bjag1 & #bjah may 
n exce$ #hj p]c5t ( ! total am\nt (     
funds appropriat$ to ea* ( ^?           
appropriations acc\nts = fiscal ye>     
#bjac4  #ajf4 ,limitation on ,gov]nm5t  
pr9t+ co/s ,n lat] ?an #ahj days aft] ! 
date ( enactm5t ( ?is ,act1 ! ,director 
( ! ,(fice ( ,managem5t & ,budget %all  
coord9ate ) ! heads ( ,f$]al dep>tm5ts &
 indep5d5t ag5cies to--  7#a7 det]m9e   
:i* ,gov]nm5t publications c\ld be      
available on ,gov]nm5t websites & no    
long] pr9t$ & to devise a /rategy to    
r$uce ov]all ,gov]nm5t pr9t+ co/s ov] ! 
#aj-ye> p]iod beg9n+ ) fiscal ye> #bjad1
 except t ! ,director %all ensure t     
ess5tial pr9t$ docum5ts prep>$ = social 
security recipi5ts1 m$ic>e b5efici>ies1 
& o!r populations 9 areas ) limit$      
int]net access or use cont9ue to rema9  
available2  7#b7 e/abli% gov]nm5t-wide  
,f$]al guidel9es on employee pr9t+2     
7#c7 issue on ! ,(fice ( ,managem5t &   
,budget's public website ! results ( a  
co/-b5efit analysis on implem5t+ a      

digital signature sy/em & on e/abli%+   
employee pr9t+ id5tification sy/ems1 su*
 z ! use ( individual employee c>ds or  
codes1 to monitor ! am\nt ( pr9t+ done  
by ,f$]al employees2 except t !         
,director ( ! ,(fice ( ,managem5t &     
,budget %all ensure t ,f$]al employee   
pr9t+ co/s unrelat$ to national def5se1 
homel& security1 bord] security1        
national disa/]s1 & o!r em]g5cies d n   
exce$ #hfj1jjj1jjj annually2 &  7#d7    
issue guidel9es requir+ e dep>tm5t1     
ag5cy1 commission or (fice to li/ at a  
prom95t place ne> ! beg9n+ ( ea*        
publication di/ribut$ to ! public &     
issu$ or paid = by ! ,f$]al ,gov]nm5t-- 
7,a7 ! "n ( ! issu+ ag5cy1 dep>tm5t1    
commission or (fice2  7,b7 ! total numb]
 ( copies ( ! docum5t pr9t$2  7,c7 !    
collective co/ ( produc+ & pr9t+ all ( !
 copies ( ! docum5t2 &  7,d7 ! "n ( !   
firm publi%+ ! docum5t4  #ajg4 ,r$uction
 9 ,f$]al vehicle co/s ,not)/&+ any o!r 
provision ( law1 = fiscal ye> #bjad &   
ea* fiscal ye> !reaft]1 ! am\nt made    

available to ! ,g5]al ,s]vices          
,adm9i/ration = ! acquisition ( new     
vehicles = ! ,f$]al fleet %all n exce$  
an am\nt equal to #hj p]c5t ( ! am\nt   
made available = ! acquisition ( ^?     
vehicles = fiscal ye> #bjab4  #ajh4     
,sale ( excess ,f$]al prop]ty  7a7 ,9   
g5]al ,*apt] #e ( subtitle ,i ( title   
#dj1 ,unit$ ,/ates ,code1 is am5d$ by   
add+ at ! end ! foll[+3  ,,vii ,exp$it$ 
disposal ( real prop]ty  #fba4          
,def9itions ,9 ?is sub*apt]3  7#a7      
,director ,! t]m ,director means !      
,director ( ! ,(fice ( ,managem5t &     
,budget4  7#b7 ,l&hold+ ag5cy ,! t]m    
l&hold+ ag5cy means a l&hold+ ag5cy 7z  
def9$ 9 section #eja7;i7 ( !            
,mc,kinney-,v5to ,homeless ,assi/ance   
,act 7#db ,u4,s4,c4 #aadaa7;i7774  7#c7 
,real prop]ty  7,a7 ,9 g5]al ,! t]m real
 prop]ty means--  7i7 a p>cel ( real    
prop]ty "u ! adm9i/rative jurisdiction (
 ! ,f$]al ,gov]nm5t t is--  7,i7 excess2
  7,,ii7 surplus2  7,,iii7 und]p]=m+2 or
  7,,iv7 o!rwise n meet+ ! ne$s ( !     

,f$]al ,gov]nm5t1 z det]m9$ by !        
,director2 &  7ii7 a build+ or o!r      
/ructure locat$ on real prop]ty describ$
 9 clause 7i74  7,b7 ,exclusion ,! t]m  
real prop]ty excludes any p>cel ( real  
prop]ty1 & any build+ or o!r /ructure   
locat$ on real prop]ty1 t is to be clos$
 or realign$ "u ! ,def5se ,au?orization 
,am5dm5ts & ,base ,closure & ,realignm5t
 ,act 7#aj ,u4,s4,c4 #bfhg note2 ,public
 ,law #ajj-ebf74  #fbb4 ,disposal       
program  7a7 ,9 g5]al ,except z provid$ 
9 subsection 7e71 ! ,director %all1 by  
sale or auction1 dispose ( a quantity ( 
real prop]ty ) an aggregate value ( n   
less ?an #ajj1jjj1jjj t1 z det]m9$ by ! 
,director1 is n be+ us$1 & w n be us$1  
to meet ! ne$s ( ! ,f$]al ,gov]nm5t = ! 
p]iod ( fiscal ye>s #bjad ?r\gh #bjai4  
7b7 ,recomm5dations ,! head ( ea*       
l&hold+ ag5cy %all recomm5d to !        
,director real prop]ty = disposal "u    
subsection 7a74  7c7 ,selection (       
prop]ties ,aft] receiv+ recomm5dations (
 c&idate real prop]ty "u subsection 7b71

 ! ,director--  7#a7 ) ! concurr5ce ( ! 
head ( ea* l&hold+ ag5cy1 may select !  
real prop]ty = disposal "u subsection   
7a72 &  7#b7 %all notify ! recomm5d+    
l&hold+ ag5cy head ( ! selection ( !    
real prop]ty4  7d7 ,website ,! ,director
 %all ensure t all real prop]ties       
select$ = disposal "u ?is section are   
li/$ on a website t %all--  7#a7 be     
updat$ r\t9ely2 &  7#b7 include !       
functionality to all[ any memb] ( !     
public1 at ! option ( ! memb]1 to       
receive updates ( ! li/ ?r\gh electronic
 mail4  7e7 ,transf] ( prop]ty ,!       
,director may transf] real prop]ty      
select$ = disposal "u ?is section to !  
,dep>tm5t ( ,h\s+ & ,urban ,developm5t  
if ! ,secret>y ( ,h\s+ & ,urban         
,developm5t det]m9es t ! real prop]ty is
 suitable = use 9 assi/+ ! homeless4  4 
7b7 ,te*nical & ,con=m+ ,am5dm5t ,!     
table ( sections = *apt] #e ( subtitle  
,i ( title #dj1 ,unit$ ,/ates ,code1 is 
am5d$ by ins]t+ aft] ! item relat+ to   
section #faa ! foll[+3  ,,sub*apt]      

,,vii--,exp$it$ disposal ( real prop]ty 
,sec4 #fba4 ,def9itions4 ,sec4 #fbb4    
,disposal program4  4  #aji4            
,prohibition on e>m>ks ,section #cab ( !
 ,congressional ,budget ,act ( #aigd is 
am5d$ by ins]t+ at ! end ! foll[+3  7g7 
,prohibition on e>m>ks  7#a7 ,bills &   
jo9t resolutions  7,a7 ,9 g5]al ,x %all 
n be 9 ord] 9 ! ,s5ate or ! ,h\se (     
,repres5tatives to consid] a bill1      
resolution1 or am5dm5t t includes an    
e>m>k1 limit$ tax b5efit1 or limit$     
t>iff b5efit4  7,b7 ,proc$ure ,9 !      
,s5ate1 a po9t ( ord] "u ?is p>agraph   
may be rais$ by a ,s5ator z provid$ 9   
section #cac7;e7 ( ! ,congressional     
,budget ,act ( #aigd4  7#b7 ,conf]5ce   
report  7,a7 ,9 g5]al ,x %all n be 9    
ord] 9 ! ,s5ate or ! ,h\se (            
,repres5tatives to vote on ! adoption ( 
a report ( a committee ( conf]5ce if !  
report includes an e>m>k1 limit$ tax    
b5efit1 or limit$ t>iff b5efit4  7,b7   
,proc$ure ,:5 ! ,s5ate is consid]+ a    
conf]5ce report on1 or an am5dm5t betwe5

 ! ,h\ses 9 relation to1 an             
appropriation ,act1 ^u a po9t ( ord] be+
 made by any ,s5ator pursuant to ?is    
p>agraph1 & su* po9t ( ord] be+ su/a9$1 
su* mat]ial conta9$ 9 su* conf]5ce      
report %all be deem$ /rick51 & ! ,s5ate 
%all proce$ to consid] ! "q ( :e!r !    
,s5ate %all rec$e f its am5dm5t & concur
 ) a fur!r am5dm5t1 or concur 9 ! ,h\se 
am5dm5t ) a fur!r am5dm5t1 z ! case may 
be1 :i* fur!r am5dm5t %all consi/ ( only
 t portion ( ! conf]5ce report or ,h\se 
am5dm5t1 z ! case may be1 n s /rick54   
,any su* motion 9 ! ,s5ate %all be      
debatable "u ! same conditions z 0 !    
conf]5ce report4 ,9 any case 9 :i* su*  
po9t ( ord] is su/a9$ aga9/ a conf]5ce  
report 7or ,s5ate am5dm5t d]iv$ f su*   
conf]5ce report by op]ation ( ?is       
subsection71 no fur!r am5dm5t %all be 9 
ord]4  7#c7 ,waiv] ,any ,s5ator may move
 to waive any or all po9ts ( ord] "u ?is
 subsection by an affirmative vote (    
two-?irds ( ! ,memb]s1 duly *os5 &      
sworn4  7#d7 ,def9itions ,= ! purpose ( 

?is subsection--  7,a7 ! t]m e>m>k means
 a provision or report language includ$ 
prim>ily at ! reque/ ( a ,s5ator or     
,memb] ( ! ,h\se ( ,repres5tatives      
provid+1 au?oriz+1 or recomm5d+ a       
specific am\nt ( discretion>y budget    
au?ority1 cr$it au?ority1 or o!r sp5d+  
au?ority = a contract1 loan1 loan       
gu>antee1 grant1 loan au?ority1 or o!r  
exp5diture ) or to an entity1 or t>get$ 
to a specific ,/ate1 locality or        
,congressional di/rict1 o!r ?an ?r\gh a 
/atutory or adm9i/rative =mula-driv5 or 
competitive aw>d process2  7,b7 ! t]m   
limit$ tax b5efit means any rev5ue      
provision t--  7i7 provides a ,f$]al tax
 d$uction1 cr$it1 exclusion1 or pref]5ce
 to a p>ticul> b5efici>y or limit$ gr\p 
( b5efici>ies "u ! ,int]nal ,rev5ue     
,code ( #aihf2 &  7ii7 conta9s          
eligibility crit]ia t are n uni=m 9     
application ) respect to pot5tial       
b5efici>ies ( su* provision2 &  7,c7 !  
t]m limit$ t>iff b5efit means a         
provision modify+ ! ,h>moniz$ ,t>iff    

,s*$ule ( ! ,unit$ ,/ates 9 a mann] t   
b5efits #aj or few] entities4  7#e7     
,application ,?is subsection %all n     
apply to any au?orization (             
appropriations to a ,f$]al entity if su*
 au?orization is n specifically t>get$  
to a ,/ate1 locality or congressional   
di/rict4  4  ,,ii ,tax ,re=m  #bjj4     
,am5dm5t ( #aihf ,code ,except z o!rwise
 expressly provid$1 :5ev] 9 ?is title an
 am5dm5t or repeal is express$ 9 t]ms ( 
an am5dm5t to1 or repeal (1 a section or
 o!r provision1 ! ref]5ce %all be       
consid]$ to be made to a section or o!r 
provision ( ! ,int]nal ,rev5ue ,code (  
#aihf4  ,a ,tax rates  #bja4 ,individual
 rates  7a7 ,9 g5]al ,section #a7;i7 is 
am5d$ to read z foll[s3  7i7 ,po/-#bjab 
rate table  7#a7 ,9 g5]al ,9 ! case (   
taxable ye>s beg9n+ aft] ,decemb] #ca1  
#bjab1 ! foll[+ table %all apply 9 lieu 
( ! tables "u subsections 7a71 7b71 7c71
 7d71 & 7e73  ,if taxable income is3,!  
tax is3  ,n ov] #ajj1jjjaj ( taxable    
income  ,ov] #ajj1jjjaj1jjj1 plus #bj ( 

! excess ov] #ajj1jjj4  7#b7 ,inflation 
adju/m5t  7,a7 ,9 g5]al ,9 ! case ( any 
taxable ye> beg9n+ aft] #bjac1 !        
,secret>y %all prescribe1 9 ! same mann]
 z "u subsection 7f71 a table :i* %all  
apply 9 lieu ( ! table "u p>agraph 7#a71
 except t subsection 7f77#c77;,b7 %all  
be appli$ by sub/itut+ #bjab = #aiib4  4
  7b7 ,maximum capital ga9s rate        
,p>agraph 7#a7 ( section #a7;h7 is am5d$
 to read z foll[s3  7#a7 ,9 g5]al ,if a 
taxpay] has a net capital ga9 = any     
taxable ye>1 ! tax impos$ by ?is section
 = su* taxable ye> %all n exce$ ! sum   
(--  7,a7 a tax comput$ at ! rates & 9 !
 same mann] z if ?is subsection _h n be5
 enact$ on taxable income r$uc$ by ! net
 capital ga92  7,b7 #j p]c5t ( s mu* ( !
 net capital ga9 z does n exce$         
#a1jjj1jjj2 &  7,c7 #bj p]c5t ( s mu* ( 
net capital ga9 z exce$s #a1jjj1jjj4  4 
7c7 ,effective date ,! am5dm5ts made by 
?is section %all apply to taxable ye>s  
beg9n+ aft] ,decemb] #ca1 #bjab4  #bjb4 
,repeal ( alt]native m9imum tax on      

individuals  7a7 ,9 g5]al ,section      
#ee7;a7 is am5d$ by add+ at ! end !     
foll[+ new flu% s5t5ce3  ,= purposes (  
?is title1 ! t5tative m9imum tax on any 
taxpay] o!r ?an a corporation = any     
taxable ye> beg9n+ aft] ,decemb] #ca1   
#bjab1 %all be z]o4 4  7b7 ,effective   
date ,! am5dm5t made by ?is section %all
 apply to taxable ye>s beg9n+ aft]      
,decemb] #ca1 #bjab4  #bjc4 ,p]man5t    
repeal ( p]sonal exemption phase\t  7a7 
,9 g5]al ,section #aea7;d7 is am5d$ by  
/rik+ p>agraph 7#c74  7b7 ,effective    
date ,! am5dm5t made by ?is section %all
 apply to taxable ye>s beg9n+ aft]      
,decemb] #ca1 #bjab4  #bjd4 ,p]man5t    
repeal ( phase\t ( ov]all limitation on 
itemiz$ d$uctions  7a7 ,9 g5]al ,"p ,i (
 sub*apt] ,b ( *apt] #a is am5d$ by     
/rik+ section #fh 7& ! item relat+ to   
su* section 9 ! table ( sections = su*  
"p74  7b7 ,effective date ,! am5dm5ts   
made by ?is section %all apply to       
taxable ye>s beg9n+ aft] ,decemb] #ca1  
#bjab4  #bje4 ,corporate income tax rate

 r$uc$ to flat rate ( #bj p]c5t  7a7 ,9 
g5]al ,p>agraph 7#a7 ( section #aa7;b7  
is am5d$ by /rik+ %all be ! sum (-- &   
all t foll[s ?r\gh ! p]iod at ! end &   
ins]t+ %all be #bj p]c5t ( taxable      
income44  7b7 ,p]sonal ,s]vice          
,corporations ,p>agraph 7#b7 ( section  
#aa7;b7 is am5d$ by /rik+ #ce p]c5t &   
ins]t+ #bj p]c5t4  7c7 ,con=m+ ,am5dm5ts
  7#a7 ,subsection 7a7 ( section #abja  
is am5d$--  7,a7 by /rik+ #ce p]c5t     
7det]m9$ )\t reg>d to ! la/ #b s5t5ces (
 section #aa7;b77 & ins]t+ #bj p]c5t1 & 
7,b7 by /rik+ #ce p]c5t ea* place x     
appe>s 7o!r ?an 9 ! matt] prec$+        
p>agraph 7#a77 & ins]t+ #bj p]c5t4  7#b7
 ,p>agraphs 7#a71 7#b71 & 7#f7 ( section
 #adde7;e7 are ea* am5d$ by /rik+ #ce   
p]c5t & ins]t+ #bj p]c5t4  7d7          
,effective date ,! am5dm5ts made by ?is 
section %all apply to taxable ye>s      
beg9n+ aft] ! date ( ! enactm5t ( ?is   
,act4  #bjf4 ,r5ew$ tempor>y divid5ds   
receiv$ d$uction  7a7 ,election         
,subsection 7f7 ( section #ife is am5d$ 

to read z foll[s3  7f7 ,election ,!     
taxpay] may elect to apply ?is section  
to--  7#a7 ! taxpay]'s la/ taxable ye>  
:i* beg9s be=e ! date ( ! enactm5t ( ?is
 subsection1 or  7#b7 ! taxpay]'s fir/  
taxable ye> :i* beg9s dur+ ! #a-ye>     
p]iod beg9n+ on su* date4  ,su* election
 may be made = a taxable ye> only if    
made on or be=e ! due date 7includ+     
ext5sions7 = fil+ ! return ( tax = su*  
taxable ye>4  4  7b7 ,limitation        
,p>agraph 7#a7 ( section #ife7;b7 is    
am5d$ to read z foll[s3  7#a7 ,9 g5]al  
,! am\nt ( divid5ds tak5 into acc\nt "u 
subsection 7a7 %all n exce$ ! sum ( !   
curr5t & accumulat$ e>n+s & pr(its      
describ$ 9 section #iei7;c77#c7 = ! ye> 
a d$uction is claim$ "u subsection 7a71 
)\t dim9ution by reason ( any           
di/ributions made dur+ ! election ye>1 =
 all controll$ =eign corporations ( !   
,unit$ ,/ates %>ehold]4  4  7c7 ,failure
 ,to ma9ta9 employm5t levels ,p>agraph  
7#d7 ( section #ife7;b7 is am5d$ to read
 z foll[s3  7#d7 ,r$uction 9 b5efits =  

failure to ma9ta9 employm5t levels  7,a7
 ,9 g5]al ,if1 dur+ ! p]iod consi/+ ( ! 
cal5d> mon? 9 :i* ! taxpay] fir/        
receives a di/ribution describ$ 9       
subsection 7a77#a7 & ! succe$+ #bc      
cal5d> mon?s1 ! taxpay] does n ma9ta9 an
 av]age employm5t level at lea/ equal to
 ! taxpay]'s prior av]age employm5t1 an 
additional am\nt equal to #be1jjj       
multipli$ by ! numb] ( employees by :i* 
! taxpay]'s av]age employm5t level dur+ 
su* p]iod falls bel[ ! prior av]age     
employm5t 7b n exce$+ ! aggregate am\nt 
all[$ z a d$uction pursuant to          
subsection 7a77#a77 %all be tak5 into   
income by ! taxpay] dur+ ! taxable ye> t
 includes ! f9al day ( su* p]iod4  7,b7 
,av]age employm5t level ,= purposes (   
?is p>agraph1 ! taxpay]'s av]age        
employm5t level = a p]iod %all be !     
av]age numb] ( full-"t ,unit$ ,/ates    
employees ( ! taxpay]1 measur$ at ! end 
( ea* mon? dur+ ! p]iod4  7,c7 ,prior   
av]age employm5t ,= purposes ( ?is      
p>agraph1 ! taxpay]'s prior av]age      

employm5t %all be ! av]age numb] (      
full-"t ,unit$ ,/ates employees ( !     
taxpay] dur+ ! p]iod consi/+ ( ! #bd    
cal5d> mon?s imm$iately prec$+ ! cal5d> 
mon? 9 :i* ! taxpay] fir/ receives a    
di/ribution describ$ 9 subsection       
7a77#a74  7,d7 ,full-"t unit$ /ates     
employee ,= purposes ( ?is p>agraph--   
7i7 ,9 g5]al ,! t]m full-"t ,unit$      
,/ates employee means an individual :o  
provides s]vices 9 ! ,unit$ ,/ates z a  
full-"t employee1 bas$ on ! employ]'s   
/&>ds & practices2 except t reg>dless ( 
! employ]'s classification ( ! employee1
 an employee ^: normal s*$ule is #dj    
h\rs or m p] week is consid]$ a full-"t 
employee4  7ii7 ,exception = *anges 9   
own]%ip ( trades or bus9esses ,su* t]m  
does n include--  7,i7 any individual :o
 0 an employee1 on ! date ( acquisition1
 ( any trade or bus9ess acquir$ by !    
taxpay] dur+ ! #bd-mon? p]iod ref]r$ to 
9 subp>agraph 7,a72 &  7,,ii7 any       
individual :o 0 an employee ( any trade 
or bus9ess dispos$ ( by ! taxpay] dur+ !

 #bd-mon? p]iod ref]r$ to 9 subp>agraph 
7,a7 or ! #bd-mon? p]iod ref]r$ to 9    
subp>agraph 7,c74  7,e7 ,aggregation    
rules ,9 det]m9+ ! taxpay]'s av]age     
employm5t level & prior av]age          
employm5t1 all dome/ic memb]s ( a       
controll$ gr\p %all be treat$ z a s+le  
taxpay]4  4  7d7 ,?re%old p]iod ,section
 #ife is am5d$ by /rik+ ,june #cj1 #bjjc
 ea* place x occurs & ins]t+ ,june #cj1 
#bjaa4  7e7 ,base p]iod ,p>agraph 7#b7 (
 subsection #ife7;c7 is am5d$ by ins]t+ 
at ! end ( subp>agraph 7,a7 ! foll[+    
flu% s5t5ce3  ,= purposes ( ?is         
p>agraph1 taxable ye>s %all n include   
any ye> = :i* an election "u section    
#ife 0 9 effect4 4  7f7 ,indebt$ness    
det]m9ation date ,subp>agraph 7,b7 (    
section #ife7;b77#c7 is am5d$ by /rik+  
,octob] #c1 #bjjd & ins]t+ ,janu>y #ai1 
#bjab4  7g7 ,con=m+ am5dm5ts  7#a7      
,subsection #ife7;c71 z am5d$ by        
subsection 7e71 is am5d$ by /rik+       
p>agraph 7#a7 & r$esignat+ p>agraphs    
7#b71 7#c71 7#d71 & 7#e7 z p>agraphs    

7#a71 7#b71 7#c71 & 7#d71 respectively4 
7#b7 ,p>agraph #ife7;c77#d71 z          
r$esignat$ by p>agraph 7#a71 is am5d$ to
 read z foll[s3  7#d7 ,controll$ gr\ps  
,all ,unit$ ,/ates %>ehold]s :i* are    
memb]s ( an affiliat$ gr\p fil+ a       
consolidat$ return "u section #aeja %all
 be treat$ z "o ,unit$ ,/ates %>ehold]4 
4  7h7 ,effective date ,! am5dm5ts made 
by ?is section %all apply to taxable    
ye>s end+ on or aft] ! date ( ! enactm5t
 ( ?is ,act4  ,b ,elim9ation ( tax      
exp5ditures  #baa4 ,t]m9ation ( cr$it = 
increas+ rese>* activities ,effective = 
taxable ye>s beg9n+ aft] ! date ( !     
enactm5t ( ?is ,act1 section #da is     
h]eby repeal$4  #bab4 ,t]m9ation (      
d$uction = intangible drill+ &          
developm5t co/s  7a7 ,9 g5]al ,section  
#bfc7;c7 is am5d$ by add+ at ! end !    
foll[+ new s5t5ce3 ,?is subsection %all 
n apply to any taxable ye> beg9n+ aft] !
 date ( ! enactm5t ( ?is s5t5ce44  7b7  
,con=m+ am5dm5ts ,p>agraphs 7#b7 & 7#c7 
( section #bia7;b7 are ea* am5d$ by     

/rik+ section #bfc7;c71 #faf7;a71 &     
ins]t+ section #faf7;a74  7c7 ,effective
 date ,! am5dm5ts made by ?is section   
%all apply to co/s paid or incurr$ 9    
taxable ye>s beg9n+ aft] ! date ( !     
enactm5t ( ?is ,act4  #bac4 ,repeal (   
dome/ic production activities d$uction )
 respect to production ( coal1 lignite1 
or oil %ale  7a7 ,9 g5]al ,subp>agraph  
7,b7 ( section #aii7;c77#d71 z am5d$ by 
?is ,act1 is am5d$ by /rik+ or at ! end 
( clause 7iii71 by /rik+ ! p]iod at !   
end ( clause 7iv7 & ins]t+ 1 or1 & by   
add+ at ! end ! foll[+ new clause3  7v7 
! lease1 r5tal1 lic5se1 sale1 ex*ange1  
or o!r disposition ( coal1 lignite1 or  
oil %ale4  4  7b7 ,effective date ,!    
am5dm5ts made by ?is section %all apply 
to taxable ye>s beg9n+ aft] ! date ( !  
enactm5t ( ?is ,act4  #bad4 ,repeal     
p]c5tage depletion = oil & natural gas  
wells  7a7 ,9 g5]al ,section #fac;,a is 
am5d$ by add+ at ! end ! foll[+ new     
subsection3  7f7 ,t]m9ation ,aft] ! date
 ( ! enactm5t ( ! ,b[les-,simpson ,plan 

( ,l[]+ ,am]ica's ,debt ,act1 ?is       
section & section #faa %all n apply to  
any oil or gas well4  4  7b7 ,con=m+    
am5dm5t ,section #fac;,a7c77#a7 is am5d$
 by /rik+ subsection 7d7 & ins]t+       
subsections 7d7 & 7f74  7c7 ,effective  
date ,! am5dm5ts made by ?is section    
%all apply to taxable ye>s beg9n+ aft] !
 date ( ! enactm5t ( ?is ,act4  #bae4   
,t]m9ation ( cr$it = electricity produc$
 f c]ta9 r5ewable res\rces ,effective = 
prop]ty plac$ 9 s]vice aft] ! date ( !  
enactm5t ( ?is ,act1 section #de is     
repeal$4  #baf4 ,t]m9ation ( en]gy cr$it
 ,effective = prop]ty plac$ 9 s]vice    
aft] ! date ( ! enactm5t ( ?is ,act1    
section #dh is repeal$4  #bag4 ,repeal (
 cr$it = alcohol us$ z fuel ,effective =
 fuel sold or us$ aft] ! date ( !       
enactm5t ( ?is ,act1 section #dj is     
repeal$4  #bah4 ,repeal ( cr$it =       
alcohol fuel1 biodiesel1 & alt]native   
fuel mixtures ,effective = fuel sold &  
us$ aft] ! date ( ! enactm5t ( ?is ,act1
 section #fdbf is repeal$4  #bai4       

,repeal ( cr$it = biodiesel & r5ewable  
diesel us$ z fuel ,effective = fuel     
produc$1 & sold or us$1 aft] ! date ( ! 
enactm5t ( ?is ,act1 section #dj;,a is  
repeal$4  #bbj4 ,repeal ( cr$it = c]ta9 
plug-9 electric vehicles ,effective =   
prop]ty plac$ 9 s]vice aft] ! date ( !  
enactm5t ( ?is ,act1 section #cj is     
repeal$4  #bba4 ,e>ly t]m9ation ( cr$it 
= qualifi$ fuel cell motor vehicles     
,effective = prop]ty plac$ 9 s]vice aft]
 ! date ( ! enactm5t ( ?is ,act1 section
 #cj;,b is repeal$4  #bbb4 ,repeal (    
d$uction = en]gy cons]vation subsidies  
provid$ by public utilities ,effective =
 am\nts receiv$ aft] ! date ( ! enactm5t
 ( ?is ,act1 section #acf is repeal$4   
#bbc4 ,repeal ( qualify+ advanc$ coal   
project cr$it ,effective = taxable ye>s 
beg9n+ aft] ! date ( ! enactm5t ( ?is   
,act1 section #dh;,a is repeal$4  #bbd4 
,repeal ( qualify+ gasification project 
cr$it ,effective = taxable ye>s beg9n+  
aft] ! date ( ! enactm5t ( ?is ,act1    
section #dh;,b is repeal$4  #bbe4       

,repeal ( special all[ance = cellulosic 
bi(uel plant prop]ty  7a7 ,9 g5]al      
,section #afh is am5d$ by /rik+         
subsection 7l74  7b7 ,effective date ,! 
am5dm5t made by ?is section %all apply  
to prop]ty plac$ 9 s]vice aft] ! date ( 
! enactm5t ( ?is ,act4  #bbf4 ,repeal ( 
election to exp5se c]ta9 ref9]ies       
,effective = prop]ty plac$ 9 s]vice aft]
 ! date ( ! enactm5t ( ?is ,act1 section
 #agi;,c is repeal$4  #bbg4 ,repeal (   
#b-ye> amortization ( geological &      
geophysical exp5ditures  7a7 ,9 g5]al   
,p>agraphs 7#a7 & 7#d7 ( section        
#afg7;h7 are ea* am5d$ by /rik+ #bd-mon?
 & ins]t+ #g-ye>4  7b7 ,con=m+ am5dm5t  
,subsection 7h7 ( section #afg is am5d$ 
by /rik+ p>agraph 7#e74  7c7 ,effective 
date ,! am5dm5ts made by ?is section    
%all apply to prop]ty plac$ 9 s]vice    
aft] ! date ( ! enactm5t ( ?is ,act4    
#bbh4 ,repeal ( d$uction = en]gy        
effici5t comm]cial build+ prop]ty       
,effective = prop]ty plac$ 9 s]vice aft]
 ! date ( ! enactm5t ( ?is ,act1 section

 #agi;,d is repeal$4  #bbi4 ,repeal (   
cr$it = con/ruction ( new en]gy effici5t
 homes ,effective = homes acquir$ aft] !
 date ( ! enactm5t ( ?is ,act1 section  
#de,l is repeal$4  #bcj4 ,repeal ( cr$it
 = en]gy effici5t appliances ,effective 
= prop]ty plac$ 9 s]vice aft] ! date ( !
 enactm5t ( ?is ,act1 section #be;,c is 
repeal$4  #bca4 ,repeal ( cr$it =       
resid5tial en]gy effici5t prop]ty       
,effective = prop]ty plac$ 9 s]vice aft]
 ! date ( ! enactm5t ( ?is ,act1 section
 #be;,d is repeal$4  #bcb4 ,repeal (    
advanc$ en]gy project cr$it ,effective =
 prop]ty plac$ 9 s]vice aft] ! date ( ! 
enactm5t ( ?is ,act1 section #dh;,c is  
repeal$4  #bcc4 ,repeal ( cr$it = c>bon 
dioxide seque/ration ,effective = c>bon 
dioxide captur$ aft] ! date ( ! enactm5t
 ( ?is ,act1 section #de,q is repeal$4  
#bcd4 ,repeal ( l[-income h\s+ cr$it    
,effective = prop]ty plac$ 9 s]vice aft]
 ! date ( ! enactm5t ( ?is ,act1 section
 #db is repeal$4  #bce4 ,repeal ( ,hope 
& ,lifetime ,le>n+ ,cr$its ,effective = 

am\nts paid or incurr$ aft] ! date ( !  
enactm5t ( ?is ,act1 section #be;,a is  
repeal$4  #bcf4 ,repeal ( "w opportunity
 tax cr$it ,effective = wages paid aft] 
! date ( ! enactm5t ( ?is ,act1 section 
#ea is repeal$4  #bcg4 ,repeal ( cr$it =
 exp5ses = h\sehold & dep5d5t c>e       
s]vices necess>y = ga9ful employm5t     
,effective = exp5ses paid aft] ! date ( 
! enactm5t ( ?is ,act1 section #ba is   
repeal$4  #bch4 ,repeal ( cr$it =       
adoption exp5ses ,effective = exp5ses   
paid or incurr$ aft] ! date ( ! enactm5t
 ( ?is ,act1 section #bc is repeal$4    
#bci4 ,repeal ( cr$it = exp5ditures to  
provide access to disabl$ individuals   
,effective = exp5ditures paid or incurr$
 aft] ! date ( ! enactm5t ( ?is ,act1   
section #dd is repeal$4  #bdj4 ,repeal (
 e>n$ income tax cr$it ,effective =     
taxable ye>s beg9n+ aft] ! date ( !     
enactm5t ( ?is ,act1 section #cb is     
repeal$4  #bda4 ,repeal ( en]gy         
cons]vation subsidies provid$ by public 
utilities ,effective = am\nts receiv$   

aft] ! date ( ! enactm5t ( ?is ,act1    
section #acf is repeal$4  #bdb4 ,repeal 
( election to exp5se c]ta9 ref9]y       
prop]ty ,effective = prop]ty plac$ 9    
s]vice aft] ! date ( ! enactm5t ( ?is   
,act1 sections #afh7l7 & #agi;,c are    
repeal$4  #bdc4 ,repeal ( d$uction =    
endang]$ species recov]y exp5ditures    
7a7 ,9 g5]al ,subsections 7a7 & 7c77#a7 
( section #age are ea* am5d$ by /rik+ 1 
or = endang]$ species recov]y4  7b7     
,con=m+ am5dm5ts  7#a7 ,! head+ =       
section #age is am5d$ by /rik+ 2        
endang]$ species recov]y exp5ditures4   
7#b7 ,p>agraph 7#a7 ( section #age7;c7  
is am5d$ by /rik+ ! second s5t5ce4  7#c7
 ,subp>agraph 7,a7 ( section            
#age7;c77#c7 is am5d$--  7,a7 by /rik+  
or ! recov]y plan pursuant to !         
,endang]$ ,species ,act ( #aigc1 &  7,b7
 by /rik+ 1 or endang]$ species recov]y 
plan 9 ! head+ !re(4  7c7 ,effective    
date ,! am5dm5ts made by ?is section    
%all apply to exp5ditures paid or       
incurr$ aft] ! date ( ! enactm5t ( ?is  

,act4  #bdd4 ,repeal ( exclusion (      
cancellation ( indebt$ness income (     
solv5t f>m]s  7a7 ,9 g5]al ,p>agraph    
7#a7 ( section #ajh7;a7 is am5d$ by     
/rik+ subp>agraph 7,c7 & by r$esignat+  
subp>agraphs 7,d7 & 7,e7 z subp>agraphs 
7,c7 & 7,d7 respectively4  7b7 ,con=m+  
am5dm5ts  7#a7 ,subp>agraph 7,a7 (      
section #ajh7;a77#b7 is am5d$ by /rik+  
7,d71 & 7,e7 & ins]t+ & 7,d74  7#b7     
,subp>agraph 7,b7 ( section #ajh7;a77#b7
 is am5d$--  7,a7 by /rik+ ,subp>agraphs
 7,c7 & 7,d7 & ins]t+ ,subp>agraph 7,c71
 &  7,b7 by /rik+ qualifi$ f>m exclusion
 &4  7#c7 ,p>agraph 7#a7 ( section      
#ajh7;b7 is am5d$ by /rik+ 7,b71 or 7,c7
 & ins]t+ or 7,b74  7#d7 ,subsection 7c7
 ( section #ajh is am5d$ by /rik+ "u    
subp>agraph 7,d7 ea* place x appe>s &   
ins]t+ "u subp>agraph 7,c74  7#e7       
,section #ajh is am5d$ by /rik+         
subsection 7g7 & by r$esignat+          
subsections 7h7 & 7i7 z subsections 7g7 
& 7h71 respectively4  7c7 ,effective    
date ,! am5dm5ts made by ?is section    

%all apply to dis*>ges ( indebt$ness    
aft] ! date ( ! enactm5t ( ?is ,act4    
#bde4 ,repeal ( alt]native m9imum tax   
treatm5t ( c]ta9 prop]ty & casualty     
insurance companies  7a7 ,9 g5]al       
,clause 7i7 ( section #ef7;g77#d77;,b7  
is am5d$ by /rik+ ! la/ s5t5ce4  7b7    
,effective date ,! am5dm5t made by ?is  
section %all apply to taxable ye>s      
beg9n+ aft] ! date ( ! enactm5t ( ?is   
,act4  #bdf4 ,repeal ( small life       
insurance company d$uction  7a7 ,9 g5]al
 ,section #hjf is repeal$4  7b7 ,con=m+ 
am5dm5ts  7#a7 ,section #hjd is am5d$ by
 /rik+ means-- & all t foll[s ?r\gh !   
p]iod at ! end & ins]t+ ! foll[+3 means 
! g5]al d$uctions provid$ 9 section     
#hje44  7#b7 ,subp>agraph 7,b7 ( section
 #dec;,b7e77#b7 is am5d$ by ins]t+ 1 z 9
 effect on ! day be=e ! date ( !        
enactm5t ( ! ,b[les-,simpson ,plan (    
,l[]+ ,am]ica's ,debt ,act aft] section 
#hjf7;b77#c74  7#c7 ,subclause 7,,ii7 ( 
section #dfe7;c77#g77;,d77v7 is am5d$ by
 ins]t+ 1 z 9 effect on ! day be=e !    

date ( ! enactm5t ( ! ,b[les-,simpson   
,plan ( ,l[]+ ,am]ica's ,debt ,act aft] 
section #hjf7;b77#c74  7#d7 ,subp>agraph
 7,a7 ( section #hae7;c77#b7 is am5d$ by
 /rik+ clause 7ii71 by ins]t+ & at ! end
 ( clause 7i71 & by r$esignat+ clause   
7iii7 z clause 7ii74  7c7 ,effective    
date ,! am5dm5ts made by ?is section    
%all apply to taxable ye>s beg9n+ aft] !
 date ( ! enactm5t ( ?is ,act4  #bdg4   
,t]m9ation ( #be1jjj exemption f passive
 loss rules = r5tal real e/ate          
activities  7a7 ,9 g5]al ,section #dfi  
is am5d$ by /rik+ subsection 7i74  7b7  
,effective date ,! am5dm5t made by ?is  
section %all apply to taxable ye>s      
beg9n+ aft] ! date ( ! enactm5t ( ?is   
,act4  #bdh4 ,repeal ( dis*>ge (        
indebt$ness exclusion ,effective =      
dis*>ges ( indebt$ness occurr+ on or    
aft] ! date ( ! enactm5t ( ?is ,act1    
section #ajh is repeal$4  #bdi4 ,repeal 
( c]ta9 exceptions = imput$ int]e/ rules
  7a7 ,det]m9ation ( issue price 9 !    
case ( c]ta9 debt in/rum5ts issu$ =     

prop]ty ,p>agraph 7#c7 ( section        
#abgd7;c77#c7 is am5d$ by /rik+         
subp>agraphs 7,a71 7,b71 & 7,c74  7b7   
,special rule = c]ta9 transactions :]e  
/at$ pr9cipal am\nt does n exce$ c]ta9  
am\nt ,section #abgd;,a is am5d$ by add+
 at ! end ! foll[+ new subsection3  7f7 
,t]m9ation ,?is section %all n apply to 
any sales or ex*anges aft] ! date ( !   
enactm5t ( ?is ,act4  4  7c7 ,effective 
date ,! am5dm5t made by subsection 7a7  
%all apply to sales or ex*anges aft] !  
date ( ! enactm5t ( ?is ,act4  #bej4    
,t]m9ation ( p>tial exclusion = ga9 f   
c]ta9 small bus9ess /ock ,section #abjb 
is am5d$ by add+ at ! end ! foll[+ new  
subsection3  7l7 ,t]m9ation ,?is section
 %all n apply to any sale or ex*ange (  
/ock aft] ! date ( ! enactm5t ( !       
,b[les-,simpson ,plan ( ,l[]+ ,am]ica's 
,debt ,act4  4  #bea4 ,t]m9ation (      
treatm5t ( losses on small bus9ess /ock 
z ord9>y ,section #abdd is am5d$ by add+
 at ! end ! foll[+ new subsection3  7f7 
,t]m9ation ,?is section %all n apply to 

any sale or ex*ange ( /ock aft] ! date (
 ! enactm5t ( ! ,b[les-,simpson ,plan ( 
,l[]+ ,am]ica's ,debt ,act4  4  #beb4   
,repeal ( /ud5t loan int]e/ d$uction    
,effective = any loan int]e/ paid aft] !
 date ( ! enactm5t ( ?is ,act1 section  
#bba is repeal$4  #bec4 ,repeal (       
d$uction ( tuition & relat$ exp5ses     
,effective = am\nts paid aft] ! date ( !
 enactm5t ( ?is ,act1 section #bbb is   
repeal$4  #bed4 ,repeal ( gross income  
exclusion = ,unit$ ,/ates sav+s bonds   
us$ to pay high] education exp5ses      
,effective = taxable ye>s beg9n+ aft] ! 
date ( ! enactm5t ( ?is ,act1 section   
#ace is repeal$4  #bee4 ,elim9ation (   
p]sonal exemption = /ud5ts age #ai &    
old]  7a7 ,9 g5]al ,subp>agraph 7,a7 (  
section #aeb7;c77#c7 is am5d$--  7#a7 by
 /rik+ clause 7ii71  7#b7 by /rik+ 1 or 
at ! end ( clause 7i7 & ins]t+ a p]iod1 
&  7#c7 by /rik+ *ild & & all t foll[s  
?r\gh 7i7 has n atta9$ & ins]t+ *ild &  
has n atta9$4  7b7 ,effective date ,!   
am5dm5ts made by ?is section %all apply 

to taxable ye>s beg9n+ aft] ! date ( !  
enactm5t ( ?is ,act4  #bef4 ,elim9ation 
( above ! l9e d$uction = c]ta9 exp5ses (
 elem5t>y & second>y s*ool tea*]s  7a7  
,9 g5]al ,p>agraph 7#b7 ( section       
#fb7;a7 is am5d$ by /rik+ subp>agraph   
7,d7 & by r$esignat+ subp>agraph 7,e7 z 
subp>agraph 7,d74  7b7 ,con=m+ am5dm5ts 
7#a7 ,section #fb is am5d$ by /rik+     
subsection 7d7 & r$esignat+ subsection  
7e7 z subsection 7d74  7#b7 ,p>agraph   
7#bj7 ( section #fb7;a7 is am5d$ by     
/rik+ subsection 7e7 & ins]t+ subsection
 7d74  7c7 ,effective date ,! am5dm5ts  
made by ?is section %all apply to am\nts
 paid or incurr$ aft] ! date ( !        
enactm5t ( ?is ,act4  #beg4 ,elim9ation 
( gross income exclusion = dis*>ge (    
c]ta9 /ud5t loan debt ,section #ajh is  
am5d$ by add+ at ! end ! foll[+ new     
p>agraph3  7#e7 ,t]m9ation ,?is         
subsection %all n apply to dis*>ges (   
indebt$ness aft] ! date ( ! enactm5t ( !
 ,b[les-,simpson ,plan ( ,l[]+ ,am]ica's
 ,debt ,act4  4  #beh4 ,repeal (        

exclusion f gross income = r5tal value (
 p>sonages ,effective = taxable ye>s    
beg9n+ aft] ! date ( ! enactm5t ( ?is   
,act1 section #ajg is repeal$4  #bei4   
,repeal ( exclusion f gross income =    
b5efits provid$ to volunte] firefight]s 
& em]g5cy m$ical respond]s ,effective = 
taxable ye>s beg9n+ aft] ! date ( !     
enactm5t ( ?is ,act1 section #aci;,b is 
repeal$4  #bfj4 ,repeal ( special       
treatm5t ( ,blue ,cross & ,blue ,%ield  
organizations1 etc ,effective = taxable 
ye>s beg9n+ aft] ! date ( ! enactm5t (  
?is ,act1 section #hcc is repeal$4      
#bfa4 ,s5se ( ! ,h\se reg>d+ a          
t]ritorial tax sy/em ,x is ! s5se ( !   
,h\se t ! ,committee on ,ways & ,means (
 ! ,h\se ( ,repres5tatives %\ld report  
legislation t w transition ! ,unit$     
,/ates to a t]ritorial tax sy/em4  ,c   
,phase\t ( ,tax ,exp5ditures  #bga4     
,five-ye> phase\t ( c]ta9 tax           
exp5ditures  7a7 ,9 g5]al ,effective =  
taxable ye>s beg9n+ aft] ,decemb] #ca1  
#bjab1 ! am\nt all[able z a cr$it1      

exclusion f gross income1 exemption f   
taxation1 or d$uction = ! taxable ye> "u
 ! tax provisions specifi$ 9 subsection 
7c7 7det]m9$ )\t reg>d to ?is section7  
%all be r$uc$ by ! applicable p]c5tage (
 ! am\nt s all[able4  7b7 ,applicable   
p]c5tage ,= purposes if ?is section1 !  
applicable p]c5tage %all be det]m9$ 9   
accordance ) ! foll[+ table3  ,9 ! case 
( taxable ye>s  beg9n+ 93,! applicable  
p]c5tage %all be3  #bjacbj  #bjaddj     
#bjaefj  #bjafhj  #bjag & !reaft]#ajj4  
7c7 ,specifi$ provisions ,= purposes (  
?is section1 ! tax provisions specifi$ 9
 ?is subsection are z foll[s3  7#a7     
,section #iaa ( ! ,int]nal ,rev5ue ,code
 ( #aihf 7relat+ to citiz5s or resid5ts 
( ! ,unit$ ,/ates liv+ abroad74  7#b7   
,section #iab ( su* ,code 7relat+ to    
exemption = c]ta9 all[ances74  7#c7     
,section #da ( su* ,code 7relat+ to     
cr$it = increas+ rese>* activities74    
7#d7 ,section #fca7;c7 ( su* ,code      
7relat+ to disposal ( coal or dome/ic   
iron ore ) a reta9$ economic int]e/74   

7#e7 ,section #dea7;i7 ( su* ,code      
7relat+ to special rule = sales or      
dispositions to implem5t ,f$]al ,en]gy  
,regulatory ,commission or ,/ate        
,electric ,re/ructur+ ,policy74  7#f7   
,section #fac ( su* ,code 7relat+ to    
p]c5tage depletion7 9 ! case ( nonfuel  
m9]als4  7#g7 ,section #fca7;a7 ( su*   
,code 7relat+ to election to consid]    
cutt+ z sale or ex*ange74  7#h7 ,section
 #eab7;b77#ai7 ( su* ,code 7relat+ to   
treatm5t ( ga9 or loss on sale or       
ex*ange ( c]ta9 br[nfield sites74  7#i7 
,! exclusion f gross income ( income on 
life insurance contracts 7z det]m9$ "u  
section #ggjb7;g7 ( ! ,int]nal ,rev5ue  
,code ( #aihf74  7#aj7 ,section #ajc7;a7
 ( su* ,code1 to ! ext5t ! int]e/ is    
attributable to a qualifi$ mortgage bond
 7z def9$ 9 section #adc7;a7 ( su*      
,code71 a qualifi$ vet]ans' mortgage    
bond 7z def9$ is section #adc7;b7 ( su* 
,code71 or an issue describ$ 9 section  
#adb7;a77#g7 ( su* ,code4  7#aa7        
,section #aii ( su* ,code 7relat+ to    

include attributable to dome/ic         
production activities74  7#ab7 ,section 
#aha ( su* ,code 7relat+ to treatm5t (  
c]ta9 qualifi$ film & television        
productions74  7#ac7 ,section #geah (   
su* ,code 7relat+ to tax inc5tives      
relat+ to m]*ant m>9e capital           
con/ruction funds7 & *apt] #ece ( title 
#df1 ,unit$ ,/ates ,code4  7#ad7        
,section #acb7;a77#e7 ( su* ,code       
7relat+ to qualifi$ transportation fr+e7
 to ! ext5t attributable to a transit   
pass 7z def9$ 9 section #acb7;f77#e7 (  
su* ,code7 or qualifi$ p>k+ 7z s def9$74
  7#ae7 ,section #de;,g7a7 ( su* ,code  
7relat+ to railroad track ma9t5ance     
cr$it74  7#af7 ,section #df7;a7 ( su*   
,code 7relat+ to rehabilitation cr$it74 
7#ag7 ,section #de;,d ( su* ,code       
7relat+ to new m>kets tax cr$it74  7#ah7
 ,section #aca ( su* ,code 7relat+ to   
c]ta9 fo/] c>e paym5ts74  7#ai7 ,section
 #bac ( su* ,code 7relat+ to m$ical1    
d5tal1 etc41 paym5ts74  7#bj7 ,section  
#cf;,b ( su* ,code 7relat+ to refundable

 cr$it = cov]age "u a qualifi$ heal?    
plan74  7#ba7 ,section #de,r ( su* ,code
 7relat+ to employee heal? insurance    
exp5ses ( small employ]s74  7#bb7       
,section #de;,c ( su* ,code 7relat+ to  
cl9ical te/+ exp5ses = c]ta9 drugs = r>e
 diseases or conditions74  7#bc7        
,section #ce ( su* ,code 7relat+ to     
heal? insurance co/s ( eligible         
individuals74  7#bd7 ,means-te/$ paym5ts
 o!rwise excludable "u ! g5]al welf>e   
doctr9e4  7#be7 ,section #gi ( su* ,code
 7relat+ to gr\p-t]m life insurance     
pur*as$ = employees74  7#bf7 ,section   
#ajf ( su* ,code 7relat+ to             
contributions by employ] to accid5t &   
heal? plans7 to ! ext5t attributable to 
employ] provid$ cov]age "u an accid5t or
 disability insurance plan4  7#bg7      
,section #afe ( su* ,code 7relat+ to    
losses7 to ! ext5t ! loss is describ$ 9 
section #afe7;c77#c7 ( su* ,code4  7#bh7
 ,section #afd7;a77#a7 ( su* ,code      
7relat+ to real prop]ty taxes7 to !     
ext5t n attributable to real prop]ty us$

 9 a trade or bus9ess or ! pr9cipal     
resid5ce ( ! taxpay] 7)9 ! mean+ (      
section #aba ( su* ,code74  ,d ,special 
,/atus  #cha4 ,t]m9ation ( qualifi$     
en]gy cons]vation bonds ,subsection 7a7 
( section #ed;,d is am5d$ by /rik+ & at 
! end ( p>agraph 7#b71 by /rik+ ! p]iod 
at ! end ( p>agraph 7#c7 & ins]t+ 1 &1 &
 by add+ at ! end ! foll[+ new p>agraph3
  7#d7 ! bond is issu$ be=e ! date ( !  
enactm5t ( ! ,implem5tation (           
,simpson-,b[les ,sp5d+ ,r$uctions ,act (
 #bjab4  4  #chb4 ,t]m9ation ( new clean
 r5ewable en]gy bonds ,subsection 7a7 ( 
section #ed;,c is am5d$ by /rik+ & at ! 
end ( p>agraph 7#b71 by /rik+ ! p]iod at
 ! end ( p>agraph 7#c7 & ins]t+ 1 &1 &  
by add+ at ! end ! foll[+ new p>agraph3 
7#d7 ! bond is issu$ be=e ! date ( !    
enactm5t ( ! ,implem5tation (           
,simpson-,b[les ,sp5d+ ,r$uctions ,act (
 #bjab4  4  #chc4 ,t]m9ation ( exempt   
facility bond treatm5t = wat]1 sewage1 &
 solid wa/e facilities  7a7 ,9 g5]al    
,subsection 7a7 ( section #adb is am5d$ 

by /rik+ p>agraphs 7#d71 7#e71 & 7#f74  
7b7 ,effective date ,! am5dm5ts made by 
?is section %all apply to bonds issu$   
aft] ! date ( ! enactm5t ( ?is ,act4    
#chd4 ,t]m9ation ( exp5s+ & amortization
 ( re=e/ation exp5ditures & exp5s+ (    
timb]-gr[+ co/s  7a7 ,re=e/ation        
exp5ditures ,section #aid is am5d$ by   
add+ at ! end ! foll[+ new subsection3  
7e7 ,t]m9ation ,?is section %all n apply
 to am\nt paid or incurr$ aft] ! date ( 
! enactm5t ( ! ,implem5tation (         
,simpson-,b[les ,sp5d+ ,r$uctions ,act (
 #bjab4  4  7b7 ,exp5s+ ( timb] gr[+    
co/s ,subsection 7c7 ( section #bfc;,a  
is am5d$ by /rik+ p>agraph 7#e74  7c7   
,effective date ,! am5dm5t made by ?is  
section %all apply to exp5ses paid or   
incurr$ aft] ! date ( ! enactm5t ( ?is  
,act4  #che4 ,t]m9ation ( def]ral ( ga9 
on sales ( /ock 9 agricultural ref9]s & 
processors to eligible f>m coop]atives  
,subsection 7g7 ( section #ajdb is am5d$
 by add+ at ! end ! foll[+ new p>agraph3
  7#e7 ,t]m9ation ,?is subsection %all n

 apply to any sales aft] ! date ( !     
enactm5t ( ! ,implem5tation (           
,simpson-,b[les ,sp5d+ ,r$uctions ,act (
 #bjab4  4  #chf4 ,t]m9ation ( election 
to exp5se c]ta9 depreciable bus9ess     
assets  7a7 ,9 g5]al ,subp>agraph 7,d7 (
 section #agi7;b77#a7 is am5d$ by /rik+ 
#be1jjj & ins]t+ #j4  7b7 ,effective    
date ,! am5dm5t made by ?is section %all
 apply to prop]ty plac$ 9 s]vice aft]   
,decemb] #ca1 #bjab4  #chg4 ,t]m9ation (
 qualifi$ small issue bonds ,p>agraph   
7#a7 ( section #add7;a7 is am5d$ by     
ins]t+ be=e ! date ( ! enactm5t ( !     
,implem5tation ( ,simpson-,b[les ,sp5d+ 
,r$uctions ,act ( #bjab aft] any bond   
issu$4  #chh4 ,t]m9ation ( exempt       
facility bond treatm5t = qualifi$       
highway or surface freight transf]      
facilities  7a7 ,9 g5]al ,subsection 7a7
 ( section #adb is am5d$ by /rik+       
p>agraph 7#ae74  7b7 ,effective date ,! 
am5dm5t made by ?is section %all apply  
to bonds issu$ aft] ! date ( ! enactm5t 
( ?is ,act4  #chi4 ,t]m9ation ( exempt  

facility bond treatm5t = airports1      
docks1 & :>ves  7a7 ,9 g5]al ,subsection
 7a7 ( section #adb is am5d$ by /rik+   
p>agraphs 7#a7 & 7#b74  7b7 ,effective  
date ,! am5dm5ts made by ?is section    
%all apply to bonds issu$ aft] ! date ( 
! enactm5t ( ?is ,act4  #cij4 ,t]m9ation
 ( tribal economic developm5t bonds     
,subp>agraph 7,a7 ( section             
#ghga7;f77#c7 is am5d$ by ins]t+ be=e ! 
date ( ! enactm5t ( ! ,implem5tation (  
,simpson-,b[les ,sp5d+ ,r$uctions ,act (
 #bjab aft] any bond issu$4  #cia4      
,t]m9ation ( exclusion f gross income ( 
,unit$ ,/ates sav+s bonds int]e/ us$ to 
pay high] education exp5ses ,subp>agraph
 7,a7 ( section #ace7;c77#a7 is am5d$ by
 ins]t+ & be=e ! date ( ! enactm5t ( !  
,implem5tation ( ,simpson-,b[les ,sp5d+ 
,r$uctions ,act ( #bjab aft] ,decemb]   
#ca1 #aihi14  #cib4 ,t]m9ation (        
qualifi$ zone academy bonds ,subsection 
7a7 ( section #ed;,e is am5d$ by /rik+ &
 at ! end ( p>agraph 7#b71 by /rik+ !   
p]iod at ! end ( p>agraph 7#c71 & ins]t+

 1 &1 & by add+ at ! end ! foll[+ new   
p>agraph3  7#d7 ! bond is issu$ be=e !  
date ( ! enactm5t ( ! ,implem5tation (  
,simpson-,b[les ,sp5d+ ,r$uctions ,act (
 #bjab4  4  #cic4 ,t]m9ation ( exempt   
facility bond treatm5t = qualifi$ public
 educational facilities  7a7 ,9 g5]al   
,subsection 7a7 ( section #adb is am5d$ 
by /rik+ p>agraph 7#ac74  7b7 ,effective
 date ,! am5dm5ts made by ?is section   
%all apply to bonds issu$ aft] ! date ( 
! enactm5t ( ?is ,act4  #cid4 ,t]m9ation
 ( hospital bonds  7a7 ,9 g5]al         
,p>agraph 7#a7 ( section #ade7;a7 is    
am5d$ by /rik+ or a gov]nm5tal unit &   
ins]t+ 1 or a gov]nm5tal unit1 o!r ?an a
 hospital4  7b7 ,con=m+ am5dm5ts  7#a7  
,section #ade is am5d$ by /rik+         
subsection 7c7 & by r$esignat+          
subsections 7d7 & 7e7 z subsections 7c7 
& 7d71 respectively4  7#b7 ,subsection  
7b7 ( section #ade is am5d$ by /rik+    
nonhospital ea* place x appe>s4  7#c7   
,p>agraph 7#a7 ( section #ade7;b7 is    
am5d$ by /rik+ 7o!r ?an a qualifi$      

hospital bond74  7#d7 ,p>agraph 7#b7 (  
section #ade7;b7 is am5d$--  7,a7 by    
/rik+ o!r ?an a qualifi$ hospital bond 9
 subp>agraph 7,b71 &  7,b7 by /rik+     
subp>agraph 7,c74  7#e7 ,! head+ =      
subsection 7b7 ( section #ade is am5d$  
by /rik+ on bonds o!r ?an hospital      
bonds4  7#f7 ,! head+ = p>agraph 7#b7 ( 
section #ade7;b7 is am5d$ by /rik+      
nonhospital4  7c7 ,effective date ,!    
am5dm5ts made by ?is section %all apply 
to bonds issu$ aft] ! date ( ! enactm5t 
( ?is ,act4