#aacth ,,congress #b;d ,session ,h4 ,r4 #egga ,,an ,,act ,to amend the ,internal ,revenue ,code of #aihf to extend certain expiring provisions and make technical corrections1 to amend the ,internal ,revenue ,code of #aihf to provide for the tax treatment of ,,able accounts established under ,state programs for the care of family members with disabilities1 and for other purposes4 ,a ,tax ,increase ,prevention ,act of #bjad #a4 ,short title1 etc 7a7 ,short title ,this division may be cited as the ,tax ,increase ,prevention ,act of #bjad4 7b7 ,amendment of #aihf ,code ,except as otherwise expressly provided1 whenever in this ,act an amendment or repeal is expressed in terms of an amendment to1 or repeal of1 a section or other provision1 the reference shall be considered to be made to a section or other provision of the ,internal ,revenue ,code of #aihf4 7c7 ,table of contents ,the table of contents for this ,act is as follows3 ,division ,a--,tax ,increase ,prevention ,act of #bjad ,sec4 #a4 ,short title1 etc4 ,title ,i--,certain expiring provisions ,subtitle ,a--,individual tax extenders ,sec4 #aja4 ,extension of deduction for certain expenses of elementary and secondary school teachers4 ,sec4 #ajb4 ,extension of exclusion from gross income of discharge of qualified principal residence indebtedness4 ,sec4 #ajc4 ,extension of parity for employer-provided mass transit and parking benefits4 ,sec4 #ajd4 ,extension of mortgage insurance premiums treated as qualified residence interest4 ,sec4 #aje4 ,extension of deduction of ,state and local general sales taxes4 ,sec4 #ajf4 ,extension of special rule for contributions of capital gain real property made for conservation purposes4 ,sec4 #ajg4 ,extension of above-the-line deduction for qualified tuition and related expenses4 ,sec4 #ajh4 ,extension of tax-free distributions from individual retirement plans for charitable purposes4 ,subtitle ,b--,business tax extenders ,sec4 #aaa4 ,extension of research credit4 ,sec4 #aab4 ,extension of temporary minimum low-income housing tax credit rate for non-federally subsidized buildings4 ,sec4 #aac4 ,extension of military housing allowance exclusion for determining whether a tenant in certain counties is low-income4 ,sec4 #aad4 ,extension of ,indian employment tax credit4 ,sec4 #aae4 ,extension of new markets tax credit4 ,sec4 #aaf4 ,extension of railroad track maintenance credit4 ,sec4 #aag4 ,extension of mine rescue team training credit4 ,sec4 #aah4 ,extension of employer wage credit for employees who are active duty members of the uniformed services4 ,sec4 #aai4 ,extension of work opportunity tax credit4 ,sec4 #abj4 ,extension of qualified zone academy bonds4 ,sec4 #aba4 ,extension of classification of certain race horses as #c-year property4 ,sec4 #abb4 ,extension of #ae-year straight-line cost recovery for qualified leasehold improvements1 qualified restaurant buildings and improvements1 and qualified retail improvements4 ,sec4 #abc4 ,extension of #g-year recovery period for motorsports entertainment complexes4 ,sec4 #abd4 ,extension of accelerated depreciation for business property on an ,indian reservation4 ,sec4 #abe4 ,extension of bonus depreciation4 ,sec4 #abf4 ,extension of enhanced charitable deduction for contributions of food inventory4 ,sec4 #abg4 ,extension of increased expensing limitations and treatment of certain real property as section #agi property4 ,sec4 #abh4 ,extension of election to expense mine safety equipment4 ,sec4 #abi4 ,extension of special expensing rules for certain film and television productions4 ,sec4 #acj4 ,extension of deduction allowable with respect to income attributable to domestic production activities in ,puerto ,rico4 ,sec4 #aca4 ,extension of modification of tax treatment of certain payments to controlling exempt organizations4 ,sec4 #acb4 ,extension of treatment of certain dividends of regulated investment companies4 ,sec4 #acc4 ,extension of ,,ric qualified investment entity treatment under ,,firpta4 ,sec4 #acd4 ,extension of subpart ,f exception for active financing income4 ,sec4 #ace4 ,extension of look-thru treatment of payments between related controlled foreign corporations under foreign personal holding company rules4 ,sec4 #acf4 ,extension of temporary exclusion of #ajj percent of gain on certain small business stock4 ,sec4 #acg4 ,extension of basis adjustment to stock of ,s corporations making charitable contributions of property4 ,sec4 #ach4 ,extension of reduction in ,s-corporation recognition period for built-in gains tax4 ,sec4 #aci4 ,extension of empowerment zone tax incentives4 ,sec4 #adj4 ,extension of temporary increase in limit on cover over of rum excise taxes to ,puerto ,rico and the ,virgin ,islands4 ,sec4 #ada4 ,extension of ,american ,samoa economic development credit4 ,subtitle ,c--,energy tax extenders ,sec4 #aea4 ,extension of credit for nonbusiness energy property4 ,sec4 #aeb4 ,extension of second generation biofuel producer credit4 ,sec4 #aec4 ,extension of incentives for biodiesel and renewable diesel4 ,sec4 #aed4 ,extension of production credit for ,indian coal facilities placed in service before #bjji4 ,sec4 #aee4 ,extension of credits with respect to facilities producing energy from certain renewable resources4 ,sec4 #aef4 ,extension of credit for energy-efficient new homes4 ,sec4 #aeg4 ,extension of special allowance for second generation biofuel plant property4 ,sec4 #aeh4 ,extension of energy efficient commercial buildings deduction4 ,sec4 #aei4 ,extension of special rule for sales or dispositions to implement ,,ferc or ,state electric restructuring policy for qualified electric utilities4 ,sec4 #afj4 ,extension of excise tax credits relating to certain fuels4 ,sec4 #afa4 ,extension of credit for alternative fuel vehicle refueling property4 ,subtitle ,d--,extenders relating to multiemployer defined benefit pension plans ,sec4 #aga4 ,extension of automatic extension of amortization periods4 ,sec4 #agb4 ,extension of shortfall funding method and endangered and critical rules4 ,title ,,ii--,technical ,corrections ,sec4 #bja4 ,short title4 ,sec4 #bjb4 ,amendments relating to ,american ,taxpayer ,relief ,act of #bjab4 ,sec4 #bjc4 ,amendment relating to ,middle ,class ,tax ,relief and ,job ,creation ,act of #bjab4 ,sec4 #bjd4 ,amendment relating to ,,faa ,modernization and ,reform ,act of #bjab4 ,sec4 #bje4 ,amendments relating to ,regulated ,investment ,company ,modernization ,act of #bjaj4 ,sec4 #bjf4 ,amendments relating to ,tax ,relief1 ,unemployment ,insurance ,reauthorization1 and ,job ,creation ,act of #bjaj4 ,sec4 #bjg4 ,amendments relating to ,creating ,small ,business ,jobs ,act of #bjaj4 ,sec4 #bjh4 ,clerical amendment relating to ,hiring ,incentives to ,restore ,employment ,act4 ,sec4 #bji4 ,amendments relating to ,american ,recovery and ,reinvestment ,tax ,act of #bjji4 ,sec4 #baj4 ,amendments relating to ,energy ,improvement and ,extension ,act of #bjjh4 ,sec4 #baa4 ,amendments relating to ,tax ,extenders and ,alternative ,minimum ,tax ,relief ,act of #bjjh4 ,sec4 #bab4 ,clerical amendments relating to ,housing ,assistance ,tax ,act of #bjjh4 ,sec4 #bac4 ,amendments and provision relating to ,heroes ,earnings ,assistance and ,relief ,tax ,act of #bjjh4 ,sec4 #bad4 ,amendments relating to ,economic ,stimulus ,act of #bjjh4 ,sec4 #bae4 ,amendments relating to ,tax ,technical ,corrections ,act of #bjjg4 ,sec4 #baf4 ,amendment relating to ,tax ,relief and ,health ,care ,act of #bjjf4 ,sec4 #bag4 ,amendment relating to ,safe1 ,accountable1 ,flexible1 ,efficient ,transportation ,equity ,act of #bjje3 ,a ,legacy for ,users4 ,sec4 #bah4 ,amendments relating to ,energy ,tax ,incentives ,act of #bjje4 ,sec4 #bai4 ,amendments relating to ,american ,jobs ,creation ,act of #bjjd4 ,sec4 #bbj4 ,other clerical corrections4 ,sec4 #bba4 ,deadwood provisions4 ,title ,,iii--,joint ,committee on ,taxation ,sec4 #cja4 ,increased refund and credit threshold for ,joint ,committee on ,taxation review of ,c corporation return4 ,title ,,iv--,budgetary effects ,sec4 #dja4 ,budgetary effects4 ,division ,b--,achieving a ,better ,life ,experience ,act of #bjad ,sec4 #a4 ,short title2 etc4 ,title ,i--,qualified ,able ,programs ,sec4 #aja4 ,purposes4 ,sec4 #ajb4 ,qualified ,,able programs4 ,sec4 #ajc4 ,treatment of ,,able accounts under certain ,federal programs4 ,sec4 #ajd4 ,treatment of able accounts in bankruptcy4 ,sec4 #aje4 ,investment direction rule for #ebi plans4 ,title ,,ii--,offsets ,sec4 #bja4 ,correction to workers compensation offset age4 ,sec4 #bjb4 ,accelerated application of relative value targets for misvalued services in the ,medicare physician fee schedule4 ,sec4 #bjc4 ,consistent treatment of vacuum erection systems in ,medicare ,parts ,b and ,d4 ,sec4 #bjd4 ,one-year delay of implementation of oral-only policy under ,medicare ,,esrd prospective payment system4 ,sec4 #bje4 ,modification relating to ,inland ,waterways ,trust ,fund financing rate4 ,sec4 #bjf4 ,certified professional employer organizations4 ,sec4 #bjg4 ,exclusion of dividends from controlled foreign corporations from the definition of personal holding company income for purposes of the personal holding company rules4 ,sec4 #bjh4 ,inflation adjustment for certain civil penalties under the ,internal ,revenue ,code of #aihf4 ,sec4 #bji4 ,increase in continuous levy4 ,i ,certain expiring provisions ,a ,individual tax extenders #aja4 ,extension of deduction for certain expenses of elementary and secondary school teachers 7a7 ,in general ,subparagraph 7,d7 of section #fb7;a77#b7 is amended by striking or #bjac and inserting #bjac1 or #bjad4 7b7 ,effective date ,the amendment made by this section shall apply to taxable years beginning after ,december #ca1 #bjac4 #ajb4 ,extension of exclusion from gross income of discharge of qualified principal residence indebtedness 7a7 ,in general ,subparagraph 7,e7 of section #ajh7;a77#a7 is amended by striking ,january #a1 #bjad and inserting ,january #a1 #bjae4 7b7 ,effective date ,the amendment made by this section shall apply to indebtedness discharged after ,december #ca1 #bjac4 #ajc4 ,extension of parity for employer-provided mass transit and parking benefits 7a7 ,in general ,paragraph 7#b7 of section #acb7;f7 is amended by striking ,january #a1 #bjad and inserting ,january #a1 #bjae4 7b7 ,effective date ,the amendment made by this section shall apply to months after ,december #ca1 #bjac4 #ajd4 ,extension of mortgage insurance premiums treated as qualified residence interest 7a7 ,in general ,subclause 7,i7 of section #afc7;h77#c77;,e77iv7 is amended by striking ,december #ca1 #bjac and inserting ,december #ca1 #bjad4 7b7 ,effective date ,the amendment made by this section shall apply to amounts paid or accrued after ,december #ca1 #bjac4 #aje4 ,extension of deduction of ,state and local general sales taxes 7a7 ,in general ,subparagraph 7,i7 of section #afd7;b77#e7 is amended by striking ,january #a1 #bjad and inserting ,january #a1 #bjae4 7b7 ,effective date ,the amendment made by this section shall apply to taxable years beginning after ,december #ca1 #bjac4 #ajf4 ,extension of special rule for contributions of capital gain real property made for conservation purposes 7a7 ,in general ,clause 7vi7 of section #agj7;b77#a77;,e7 is amended by striking ,december #ca1 #bjac and inserting ,december #ca1 #bjad4 7b7 ,contributions by certain corporate farmers and ranchers ,clause 7iii7 of section #agj7;b77#b77;,b7 is amended by striking ,december #ca1 #bjac and inserting ,december #ca1 #bjad4 7c7 ,effective date ,the amendments made by this section shall apply to contributions made in taxable years beginning after ,december #ca1 #bjac4 #ajg4 ,extension of above-the-line deduction for qualified tuition and related expenses 7a7 ,in general ,subsection 7e7 of section #bbb is amended by striking ,december #ca1 #bjac and inserting ,december #ca1 #bjad4 7b7 ,effective date ,the amendment made by this section shall apply to taxable years beginning after ,december #ca1 #bjac4 #ajh4 ,extension of tax-free distributions from individual retirement plans for charitable purposes 7a7 ,in general ,subparagraph 7,f7 of section #djh7;d77#h7 is amended by striking ,december #ca1 #bjac and inserting ,december #ca1 #bjad4 7b7 ,effective date ,the amendment made by this section shall apply to distributions made in taxable years beginning after ,december #ca1 #bjac4 ,b ,business tax extenders #aaa4 ,extension of research credit 7a7 ,in general ,paragraph 7#a7 of section #da7;h7 is amended by striking paid or incurred and all that follows and inserting paid or incurred after ,december #ca1 #bjad44 7b7 ,conforming amendment ,subparagraph 7,d7 of section #de;,c7b77#a7 is amended to read as follows3 7,d7 ,special rule ,if section #da is not in effect for any period1 such section shall be deemed to remain in effect for such period for purposes of this paragraph4 4 7c7 ,effective date ,the amendments made by this section shall apply to amounts paid or incurred after ,december #ca1 #bjac4 #aab4 ,extension of temporary minimum low-income housing tax credit rate for non-federally subsidized buildings 7a7 ,in general ,subparagraph 7,a7 of section #db7;b77#b7 is amended by striking ,january #a1 #bjad and inserting ,january #a1 #bjae4 7b7 ,effective date ,the amendment made by this section shall take effect on ,january #a1 #bjad4 #aac4 ,extension of military housing allowance exclusion for determining whether a tenant in certain counties is low-income 7a7 ,in general ,subsection 7b7 of section #cjje of the ,housing ,assistance ,tax ,act of #bjjh is amended by striking ,january #a1 #bjad each place it appears and inserting ,january #a1 #bjae4 7b7 ,effective date ,the amendment made by this section shall take effect as if included in the enactment of section #cjje of the ,housing ,assistance ,tax ,act of #bjjh4 #aad4 ,extension of ,indian employment tax credit 7a7 ,in general ,subsection 7f7 of section #de;,a is amended by striking ,december #ca1 #bjac and inserting ,december #ca1 #bjad4 7b7 ,effective date ,the amendment made by this section shall apply to taxable years beginning after ,december #ca1 #bjac4 #aae4 ,extension of new markets tax credit 7a7 ,in general ,subparagraph 7,g7 of section #de;,d7f77#a7 is amended by striking and #bjac and inserting #bjac1 and #bjad4 7b7 ,carryover of unused limitation ,paragraph 7#c7 of section #de;,d7f7 is amended by striking #bjah and inserting #bjai4 7c7 ,effective date ,the amendments made by this section shall apply to calendar years beginning after ,december #ca1 #bjac4 #aaf4 ,extension of railroad track maintenance credit 7a7 ,in general ,subsection 7f7 of section #de;,g is amended by striking ,january #a1 #bjad and inserting ,january #a1 #bjae4 7b7 ,effective date ,the amendment made by this section shall apply to expenditures paid or incurred in taxable years beginning after ,december #ca1 #bjac4 #aag4 ,extension of mine rescue team training credit 7a7 ,in general ,subsection 7e7 of section #de,n is amended by striking ,december #ca1 #bjac and inserting ,december #ca1 #bjad4 7b7 ,effective date ,the amendment made by this section shall apply to taxable years beginning after ,december #ca1 #bjac4 #aah4 ,extension of employer wage credit for employees who are active duty members of the uniformed services 7a7 ,in general ,subsection 7f7 of section #de,p is amended by striking ,december #ca1 #bjac and inserting ,december #ca1 #bjad4 7b7 ,effective date ,the amendment made by this section shall apply to payments made after ,december #ca1 #bjac4 #aai4 ,extension of work opportunity tax credit 7a7 ,in general ,paragraph 7#d7 of section #ea7;c7 is amended by striking for the employer and all that follows and inserting for the employer after ,december #ca1 #bjad4 7b7 ,effective date ,the amendment made by this section shall apply to individuals who begin work for the employer after ,december #ca1 #bjac4 #abj4 ,extension of qualified zone academy bonds 7a7 ,extension ,paragraph 7#a7 of section #ed;,e7c7 is amended by striking and #bjac and inserting #bjac1 and #bjad4 7b7 ,effective date ,the amendment made by this section shall apply to obligations issued after ,december #ca1 #bjac4 #aba4 ,extension of classification of certain race horses as #c-year property 7a7 ,in general ,clause 7i7 of section #afh7;e77#c77;,a7 is amended-- 7#a7 by striking ,january #a1 #bjad in subclause 7,i7 and inserting ,january #a1 #bjae1 and 7#b7 by striking ,december #ca1 #bjac in subclause 7,,ii7 and inserting ,december #ca1 #bjad4 7b7 ,effective date ,the amendments made by this section shall apply to property placed in service after ,december #ca1 #bjac4 #abb4 ,extension of #ae-year straight-line cost recovery for qualified leasehold improvements1 qualified restaurant buildings and improvements1 and qualified retail improvements 7a7 ,in general ,clauses 7iv71 7v71 and 7ix7 of section #afh7;e77#c77;,e7 are each amended by striking ,january #a1 #bjad and inserting ,january #a1 #bjae4 7b7 ,effective date ,the amendments made by this section shall apply to property placed in service after ,december #ca1 #bjac4 #abc4 ,extension of #g-year recovery period for motorsports entertainment complexes 7a7 ,in general ,subparagraph 7,d7 of section #afh7;i77#ae7 is amended by striking ,december #ca1 #bjac and inserting ,december #ca1 #bjad4 7b7 ,effective date ,the amendment made by this section shall apply to property placed in service after ,december #ca1 #bjac4 #abd4 ,extension of accelerated depreciation for business property on an ,indian reservation 7a7 ,in general ,paragraph 7#h7 of section #afh7;j7 is amended by striking ,december #ca1 #bjac and inserting ,december #ca1 #bjad4 7b7 ,effective date ,the amendment made by this section shall apply to property placed in service after ,december #ca1 #bjac4 #abe4 ,extension of bonus depreciation 7a7 ,in general ,paragraph 7#b7 of section #afh7k7 is amended-- 7#a7 by striking ,january #a1 #bjae in subparagraph 7,a77iv7 and inserting ,january #a1 #bjaf1 and 7#b7 by striking ,january #a1 #bjad each place it appears and inserting ,january #a1 #bjae4 7b7 ,special rule for ,federal long-,term contracts ,clause 7ii7 of section #dfj7;c77#f77;,b7 is amended by striking ,january #a1 #bjad 7,january #a1 #bjae and inserting ,january #a1 #bjae 7,january #a1 #bjaf4 7c7 ,extension of election to accelerate the ,,amt credit in lieu of bonus depreciation 7#a7 ,in general ,subclause 7,,ii7 of section #afh7k77#d77;,d77iii7 is amended by striking ,january #a1 #bjad and inserting ,january #a1 #bjae4 7#b7 ,round #d extension property ,paragraph 7#d7 of section #afh7k7 is amended by adding at the end the following new subparagraph3 7,k7 ,special rules for round #d extension property 7i7 ,in general ,in the case of round #d extension property1 in applying this paragraph to any taxpayer-- 7,i7 the limitation described in subparagraph 7,b77i7 and the business credit increase amount under subparagraph 7,e77iii7 thereof shall not apply1 and 7,,ii7 the bonus depreciation amount1 maximum amount1 and maximum increase amount shall be computed separately from amounts computed with respect to eligible qualified property which is not round #d extension property4 7ii7 ,election 7,i7 ,a taxpayer who has an election in effect under this paragraph for round #c extension property shall be treated as having an election in effect for round #d extension property unless the taxpayer elects to not have this paragraph apply to round #d extension property4 7,,ii7 ,a taxpayer who does not have an election in effect under this paragraph for round #c extension property may elect to have this paragraph apply to round #d extension property4 7iii7 ,round #d extension property ,for purposes of this subparagraph1 the term round #d extension property means property which is eligible qualified property solely by reason of the extension of the application of the special allowance under paragraph 7#a7 pursuant to the amendments made by section #abe7;a7 of the ,tax ,increase ,prevention ,act of #bjad 7and the application of such extension to this paragraph pursuant to the amendment made by section #abe7;c7 of such ,act74 4 7d7 ,conforming amendments 7#a7 ,the heading for subsection 7k7 of section #afh is amended by striking ,january #a1 #bjad and inserting ,january #a1 #bjae4 7#b7 ,the heading for clause 7ii7 of section #afh7k77#b77;,b7 is amended by striking pre-,january #a1 #bjad and inserting pre-,january #a1 #bjae4 7#c7 ,subparagraph 7,c7 of section #afh7n77#b7 is amended by striking ,january #a1 #bjad and inserting ,january #a1 #bjae4 7#d7 ,subparagraph 7,d7 of section #adjj,l7b77#b7 is amended by striking ,january #a1 #bjad and inserting ,january #a1 #bjae4 7#e7 ,subparagraph 7,b7 of section #adjj,n7d77#c7 is amended by striking ,january #a1 #bjad and inserting ,january #a1 #bjae4 7e7 ,effective date ,the amendments made by this section shall apply to property placed in service after ,december #ca1 #bjac1 in taxable years ending after such date4 #abf4 ,extension of enhanced charitable deduction for contributions of food inventory 7a7 ,in general ,clause 7iv7 of section #agj7;e77#c77;,c7 is amended by striking ,december #ca1 #bjac and inserting ,december #ca1 #bjad4 7b7 ,effective date ,the amendment made by this section shall apply to contributions made after ,december #ca1 #bjac4 #abg4 ,extension of increased expensing limitations and treatment of certain real property as section #agi property 7a7 ,in general 7#a7 ,dollar limitation ,section #agi7;b77#a7 is amended-- 7,a7 by striking beginning in #bjaj1 #bjaa1 #bjab1 or #bjac in subparagraph 7,b7 and inserting beginning after #bjji and before #bjae1 and 7,b7 by striking #bjac in subparagraph 7,c7 and inserting #bjad4 7#b7 ,reduction in limitation ,section #agi7;b77#b7 is amended-- 7,a7 by striking beginning in #bjaj1 #bjaa1 #bjab1 or #bjac in subparagraph 7,b7 and inserting beginning after #bjji and before #bjae1 and 7,b7 by striking #bjac in subparagraph 7,c7 and inserting #bjad4 7b7 ,computer software ,section #agi7;d77#a77;,a77ii7 is amended by striking #bjad and inserting #bjae4 7c7 ,election ,section #agi7;c77#b7 is amended by striking #bjad and inserting #bjae4 7d7 ,special rules for treatment of qualified real property 7#a7 ,in general ,section #agi7;f77#a7 is amended by striking beginning in #bjaj1 #bjaa1 #bjab1 or #bjac and inserting beginning after #bjji and before #bjae4 7#b7 ,carryover limitation 7,a7 ,in general ,section #agi7;f77#d7 is amended by striking #bjac each place it appears and inserting #bjad4 7,b7 ,conforming amendment ,the heading of subparagraph 7,c7 of section #agi7;f77#d7 is amended by striking #bjaa and #bjab and inserting #bjaa1 #bjab1 and #bjac4 7e7 ,effective date ,the amendments made by this section shall apply to taxable years beginning after ,december #ca1 #bjac4 #abh4 ,extension of election to expense mine safety equipment 7a7 ,in general ,subsection 7g7 of section #agi;,e is amended by striking ,december #ca1 #bjac and inserting ,december #ca1 #bjad4 7b7 ,effective date ,the amendment made by this section shall apply to property placed in service after ,december #ca1 #bjac4 #abi4 ,extension of special expensing rules for certain film and television productions 7a7 ,in general ,subsection 7f7 of section #aha is amended by striking ,december #ca1 #bjac and inserting ,december #ca1 #bjad4 7b7 ,effective dates ,the amendment made by this section shall apply to productions commencing after ,december #ca1 #bjac4 #acj4 ,extension of deduction allowable with respect to income attributable to domestic production activities in ,puerto ,rico 7a7 ,in general ,subparagraph 7,c7 of section #aii7;d77#h7 is amended-- 7#a7 by striking first #h taxable years and inserting first #i taxable years1 and 7#b7 by striking ,january #a1 #bjad and inserting ,january #a1 #bjae4 7b7 ,effective date ,the amendments made by this section shall apply to taxable years beginning after ,december #ca1 #bjac4 #aca4 ,extension of modification of tax treatment of certain payments to controlling exempt organizations 7a7 ,in general ,clause 7iv7 of section #eab7;b77#ac77;,e7 is amended by striking ,december #ca1 #bjac and inserting ,december #ca1 #bjad4 7b7 ,effective date ,the amendment made by this section shall apply to payments received or accrued after ,december #ca1 #bjac4 #acb4 ,extension of treatment of certain dividends of regulated investment companies 7a7 ,in general ,paragraphs 7#a77;,c77v7 and 7#b77;,c77v7 of section #hga7k7 are each amended by striking ,december #ca1 #bjac and inserting ,december #ca1 #bjad4 7b7 ,effective date ,the amendments made by this section shall apply to taxable years beginning after ,december #ca1 #bjac4 #acc4 ,extension of ,,ric qualified investment entity treatment under ,,firpta 7a7 ,in general ,clause 7ii7 of section #hig7;h77#d77;,a7 is amended by striking ,december #ca1 #bjac and inserting ,december #ca1 #bjad4 7b7 ,effective date 7#a7 ,in general ,the amendment made by this section shall take effect on ,january #a1 #bjad4 ,notwithstanding the preceding sentence1 such amendment shall not apply with respect to the withholding requirement under section #adde of the ,internal ,revenue ,code of #aihf for any payment made before the date of the enactment of this ,act4 7#b7 ,amounts withheld on or before date of enactment ,in the case of a regulated investment company-- 7,a7 which makes a distribution after ,december #ca1 #bjac1 and before the date of the enactment of this ,act1 and 7,b7 which would 7but for the second sentence of paragraph 7#a77 have been required to withhold with respect to such distribution under section #adde of such ,code1 such investment company shall not be liable to any person to whom such distribution was made for any amount so withheld and paid over to the ,secretary of the ,treasury4 #acd4 ,extension of subpart ,f exception for active financing income 7a7 ,exempt insurance income ,paragraph 7#aj7 of section #iec7;e7 is amended-- 7#a7 by striking ,january #a1 #bjad and inserting ,january #a1 #bjae1 and 7#b7 by striking ,december #ca1 #bjac and inserting ,december #ca1 #bjad4 7b7 ,special rule for income derived in the active conduct of banking1 financing1 or similar businesses ,paragraph 7#i7 of section #ied7;h7 is amended by striking ,january #a1 #bjad and inserting ,january #a1 #bjae4 7c7 ,effective date ,the amendments made by this section shall apply to taxable years of foreign corporations beginning after ,december #ca1 #bjac1 and to taxable years of ,united ,states shareholders with or within which any such taxable year of such foreign corporation ends4 #ace4 ,extension of look-thru treatment of payments between related controlled foreign corporations under foreign personal holding company rules 7a7 ,in general ,subparagraph 7,c7 of section #ied7;c77#f7 is amended by striking ,january #a1 #bjad and inserting ,january #a1 #bjae4 7b7 ,effective date ,the amendment made by this section shall apply to taxable years of foreign corporations beginning after ,december #ca1 #bjac1 and to taxable years of ,united ,states shareholders with or within which such taxable years of foreign corporations end4 #acf4 ,extension of temporary exclusion of #ajj percent of gain on certain small business stock 7a7 ,in general ,paragraph 7#d7 of section #abjb7;a7 is amended-- 7#a7 by striking ,january #a1 #bjad and inserting ,january #a1 #bjae1 and 7#b7 by striking and #bjac in the heading and inserting #bjac1 and #bjad4 7b7 ,effective date ,the amendments made by this section shall apply to stock acquired after ,december #ca1 #bjac4 #acg4 ,extension of basis adjustment to stock of ,s corporations making charitable contributions of property 7a7 ,in general ,paragraph 7#b7 of section #acfg7;a7 is amended by striking ,december #ca1 #bjac and inserting ,december #ca1 #bjad4 7b7 ,effective date ,the amendment made by this section shall apply to contributions made in taxable years beginning after ,december #ca1 #bjac4 #ach4 ,extension of reduction in ,s-corporation recognition period for built-in gains tax 7a7 ,in general ,subparagraph 7,c7 of section #acgd7;d77#g7 is amended-- 7#a7 by striking #bjab or #bjac and inserting #bjab1 #bjac1 or #bjad1 and 7#b7 by striking #bjab and #bjac in the heading and inserting #bjab1 #bjac1 and #bjad4 7b7 ,effective date ,the amendments made by this section shall apply to taxable years beginning after ,december #ca1 #bjac4 #aci4 ,extension of empowerment zone tax incentives 7a7 ,in general ,clause 7i7 of section #acia7;d77#a77;,a7 is amended by striking ,december #ca1 #bjac and inserting ,december #ca1 #bjad4 7b7 ,treatment of certain termination dates specified in nominations ,in the case of a designation of an empowerment zone the nomination for which included a termination date which is contemporaneous with the date specified in subparagraph 7,a77i7 of section #acia7;d77#a7 of the ,internal ,revenue ,code of #aihf 7as in effect before the enactment of this ,act71 subparagraph 7,b7 of such section shall not apply with respect to such designation if1 after the date of the enactment of this section1 the entity which made such nomination amends the nomination to provide for a new termination date in such manner as the ,secretary of the ,treasury 7or the ,secretary's designee7 may provide4 7c7 ,effective dates ,the amendment made by this section shall apply to periods after ,december #ca1 #bjac4 #adj4 ,extension of temporary increase in limit on cover over of rum excise taxes to ,puerto ,rico and the ,virgin ,islands 7a7 ,in general ,paragraph 7#a7 of section #gfeb7;f7 is amended by striking ,january #a1 #bjad and inserting ,january #a1 #bjae4 7b7 ,effective date ,the amendment made by this section shall apply to distilled spirits brought into the ,united ,states after ,december #ca1 #bjac4 #ada4 ,extension of ,american ,samoa economic development credit 7a7 ,in general ,subsection 7d7 of section #aai of division ,a of the ,tax ,relief and ,health ,care ,act of #bjjf is amended-- 7#a7 by striking ,january #a1 #bjad each place it appears and inserting ,january #a1 #bjae1 7#b7 by striking first #h taxable years in paragraph 7#a7 and inserting first #i taxable years1 and 7#c7 by striking first #b taxable years in paragraph 7#b7 and inserting first #c taxable years4 7b7 ,effective date ,the amendments made by this section shall apply to taxable years beginning after ,december #ca1 #bjac4 ,c ,energy tax extenders #aea4 ,extension of credit for nonbusiness energy property 7a7 ,in general ,paragraph 7#b7 of section #be;,c7g7 is amended by striking ,december #ca1 #bjac and inserting ,december #ca1 #bjad4 7b7 ,effective date ,the amendment made by this section shall apply to property placed in service after ,december #ca1 #bjac4 #aeb4 ,extension of second generation biofuel producer credit 7a7 ,in general ,clause 7i7 of section #dj7;b77#f77;,j7 is amended by striking ,january #a1 #bjad and inserting ,january #a1 #bjae4 7b7 ,effective date ,the amendment made by this section shall apply to qualified second generation biofuel production after ,december #ca1 #bjac4 #aec4 ,extension of incentives for biodiesel and renewable diesel 7a7 ,credits for biodiesel and renewable diesel used as fuel ,subsection 7g7 of section #dj;,a is amended by striking ,december #ca1 #bjac and inserting ,december #ca1 #bjad4 7b7 ,effective date ,the amendment made by this section shall apply to fuel sold or used after ,december #ca1 #bjac4 #aed4 ,extension of production credit for ,indian coal facilities placed in service before #bjji 7a7 ,in general ,subparagraph 7,a7 of section #de7;e77#aj7 is amended by striking #h-year period each place it appears and inserting #i-year period4 7b7 ,effective date ,the amendment made by this section shall apply to coal produced after ,december #ca1 #bjac4 #aee4 ,extension of credits with respect to facilities producing energy from certain renewable resources 7a7 ,in general ,the following provisions of section #de7;d7 are each amended by striking ,january #a1 #bjad each place it appears and inserting ,january #a1 #bjae3 7#a7 ,paragraph 7#a74 7#b7 ,paragraph 7#b77;,a74 7#c7 ,paragraph 7#c77;,a74 7#d7 ,paragraph 7#d77;,b74 7#e7 ,paragraph 7#f74 7#f7 ,paragraph 7#g74 7#g7 ,paragraph 7#i74 7#h7 ,paragraph 7#aa77;,b74 7b7 ,extension of election to treat qualified facilities as energy property ,clause 7ii7 of section #dh7;a77#e77;,c7 is amended by striking ,january #a1 #bjad and inserting ,january #a1 #bjae4 7c7 ,effective dates ,the amendments made by this section shall take effect on ,january #a1 #bjad4 #aef4 ,extension of credit for energy-efficient new homes 7a7 ,in general ,subsection 7g7 of section #de,l is amended by striking ,december #ca1 #bjac and inserting ,december #ca1 #bjad4 7b7 ,effective date ,the amendment made by this section shall apply to homes acquired after ,december #ca1 #bjac4 #aeg4 ,extension of special allowance for second generation biofuel plant property 7a7 ,in general ,subparagraph 7,d7 of section #afh7l77#b7 is amended by striking ,january #a1 #bjad and inserting ,january #a1 #bjae4 7b7 ,effective date ,the amendment made by this section shall apply to property placed in service after ,december #ca1 #bjac4 #aeh4 ,extension of energy efficient commercial buildings deduction 7a7 ,in general ,subsection 7h7 of section #agi;,d is amended by striking ,december #ca1 #bjac and inserting ,december #ca1 #bjad4 7b7 ,effective date ,the amendment made by this section shall apply to property placed in service after ,december #ca1 #bjac4 #aei4 ,extension of special rule for sales or dispositions to implement ,,ferc or ,state electric restructuring policy for qualified electric utilities 7a7 ,in general ,paragraph 7#c7 of section #dea7;i7 is amended by striking ,january #a1 #bjad and inserting ,january #a1 #bjae4 7b7 ,effective date ,the amendment made by this section shall apply to dispositions after ,december #ca1 #bjac4 #afj4 ,extension of excise tax credits relating to certain fuels 7a7 ,excise tax credits and outlay payments for biodiesel and renewable diesel fuel mixtures 7#a7 ,paragraph 7#f7 of section #fdbf7;c7 is amended by striking ,december #ca1 #bjac and inserting ,december #ca1 #bjad4 7#b7 ,subparagraph 7,b7 of section #fdbg7;e77#f7 is amended by striking ,december #ca1 #bjac and inserting ,december #ca1 #bjad4 7b7 ,extension of alternative fuels excise tax credits 7#a7 ,in general ,sections #fdbf7;d77#e7 and #fdbf7;e77#c7 are each amended by striking ,december #ca1 #bjac and inserting ,december #ca1 #bjad4 7#b7 ,outlay payments for alternative fuels ,subparagraph 7,c7 of section #fdbg7;e77#f7 is amended by striking ,december #ca1 #bjac and inserting ,december #ca1 #bjad4 7c7 ,extension of alternative fuels excise tax credits relating to liquefied hydrogen 7#a7 ,in general ,sections #fdbf7;d77#e7 and #fdbf7;e77#c71 as amended by subsection 7b71 are each amended by striking 7,september #cj1 #bjad in the case of any sale or use involving liquefied hydrogen74 7#b7 ,outlay payments for alternative fuels ,paragraph 7#f7 of section #fdbg7;e7 is amended-- 7,a7 by striking except as provided in subparagraph 7,d71 any in subparagraph 7,c71 as amended by this ,act1 and inserting any1 7,b7 by striking the comma at the end of subparagraph 7,c7 and inserting 1 and1 and 7,c7 by striking subparagraph 7,d7 and redesignating subparagraph 7,e7 as subparagraph 7,d74 7d7 ,effective dates 7#a7 ,in general ,except as provided in paragraph 7#b71 the amendments made by this section shall apply to fuel sold or used after ,december #ca1 #bjac4 7#b7 ,liquefied hydrogen ,the amendments made by subsection 7c7 shall apply to fuel sold or used after ,september #cj1 #bjad4 7e7 ,special rule for certain periods during #bjad ,notwithstanding any other provision of law1 in the case of-- 7#a7 any biodiesel mixture credit properly determined under section #fdbf7;c7 of the ,internal ,revenue ,code of #aihf for periods after ,december #ca1 #bjac1 and before the date of the enactment of this ,act1 and 7#b7 any alternative fuel credit properly determined under section #fdbf7;d7 of such ,code for such periods1 such credit shall be allowed1 and any refund or payment attributable to such credit 7including any payment under section #fdbg7;e7 of such ,code7 shall be made1 only in such manner as the ,secretary of the ,treasury 7or the ,secretary's delegate7 shall provide4 ,such ,secretary shall issue guidance within #cj days after the date of the enactment of this ,act providing for a one-time submission of claims covering periods described in the preceding sentence4 ,such guidance shall provide for a #ahj-;day period for the submission of such claims 7in such manner as prescribed by such ,secretary7 to begin not later than #cj days after such guidance is issued4 ,such claims shall be paid by such ,secretary not later than #fj days after receipt4 ,if such ,secretary has not paid pursuant to a claim filed under this subsection within #fj days after the date of the filing of such claim1 the claim shall be paid with interest from such date determined by using the overpayment rate and method under section #ffba of such ,code4 #afa4 ,extension of credit for alternative fuel vehicle refueling property 7a7 ,in general ,subsection 7g7 of section #cj;,c is amended by striking placed in service and all that follows and inserting placed in service after ,december #ca1 #bjad44 7b7 ,effective date ,the amendment made by this section shall apply to property placed in service after ,december #ca1 #bjac4 ,d ,extenders relating to multiemployer defined benefit pension plans #aga4 ,extension of automatic extension of amortization periods 7a7 ,in general ,subparagraph 7,c7 of section #dca7;d77#a7 is amended by striking ,december #ca1 #bjad and inserting ,december #ca1 #bjae4 7b7 ,amendment to ,employee ,retirement ,income ,security ,act of #aigd ,subparagraph 7,c7 of section #cjd7;d77#a7 of the ,employee ,retirement ,income ,security ,act of #aigd 7#bi ,u4,s4,c4 #ajhd7;d77#a77;,c77 is amended by striking ,december #ca1 #bjad and inserting ,december #ca1 #bjae4 7c7 ,effective date ,the amendments made by this section shall apply to applications submitted under section #dca7;d77#a77;,a7 of the ,internal ,revenue ,code of #aihf and section #cjd7;d77#a77;,c7 of the ,employee ,retirement ,income ,security ,act of #aigd after ,december #ca1 #bjad4 #agb4 ,extension of shortfall funding method and endangered and critical rules 7a7 ,in general ,paragraphs 7#a7 and 7#b7 of section #bba7;c7 of the ,pension ,protection ,act of #bjjf are each amended by striking ,december #ca1 #bjad and inserting ,december #ca1 #bjae4 7b7 ,conforming amendment ,paragraph 7#b7 of section #bba7;c7 of the ,pension ,protection ,act of #bjjf is amended by striking ,january #a1 #bjae and inserting ,january #a1 #bjaf4 7c7 ,effective date ,the amendments made by this section shall apply to plan years beginning after ,december #ca1 #bjad4 ,,ii ,technical ,corrections #bja4 ,short title ,this title may be cited as the ,tax ,technical ,corrections ,act of #bjad4 #bjb4 ,amendments relating to ,american ,taxpayer ,relief ,act of #bjab 7a7 ,amendment relating to section #aja7;b7 ,subclause 7,i7 of section #fdb7;b77#b77;,c77i7 is amended by striking section #aea7;d77#c77;,c77iii7 and inserting section #fh7;b77#a77;,c74 7b7 ,amendment relating to section #ajb ,clause 7ii7 of section #iaa7;f77#b77;,b7 is amended by striking described in section #a7;h77#a77;,b7 shall be treated as a reference to such excess as determined and inserting described in section #a7;h77#a77;,b71 and the reference in section #ee7;b77#c77;,c77ii7 to the excess described in section #a7;h77#a77;,c77ii71 shall each be treated as a reference to each such excess as determined4 7c7 ,amendments relating to section #ajd 7#a7 ,clause 7ii7 of section #ee7;d77#d77;,b7 is amended by inserting subparagraphs 7,a71 7,b71 and 7,d7 of before paragraph 7#a74 7#b7 ,subparagraph 7,c7 of section #ee7;d77#d7 is amended by striking increase and inserting increased amount4 7d7 ,amendments relating to section #caj ,clause 7iii7 of section #fdca7;f77#c77;,a7 is amended-- 7#a7 by striking #bjaa and inserting years after #bjaj1 and 7#b7 by striking of such allocation and inserting of any such allocation4 7e7 ,amendment relating to section #cca ,clause 7iii7 of section #afh7k77#d77;,j7 is amended by striking any taxable year and inserting its first taxable year4 7f7 ,effective date ,the amendments made by this section shall take effect as if included in the provision of the ,american ,taxpayer ,relief ,act of #bjab to which they relate4 #bjc4 ,amendment relating to ,middle ,class ,tax ,relief and ,job ,creation ,act of #bjab 7a7 ,amendment relating to section #gjja ,paragraph 7#a7 of section #gjja of the ,middle ,class ,tax ,relief and ,job ,creation ,act of #bjab is amended by striking #bja7;b7 and inserting #bjb7;b74 7b7 ,effective date ,the amendment made by subsection 7a7 shall take effect as if included in section #gjja of the ,middle ,class ,tax ,relief and ,job ,creation ,act of #bjab4 #bjd4 ,amendment relating to ,,faa ,modernization and ,reform ,act of #bjab 7a7 ,amendment relating to section #aajg ,section #dbha is amended to read as follows3 #dbha4 ,small aircraft on nonestablished lines 7a7 ,in general ,the taxes imposed by sections #dbfa and #dbga shall not apply to transportation by an aircraft having a maximum certificated takeoff weight of #f1jjj pounds or less1 except when such aircraft is operated on an established line or when such aircraft is a jet aircraft4 7b7 ,maximum certificated takeoff weight ,for purposes of this section1 the term maximum certificated takeoff weight means the maximum such weight contained in the type certificate or airworthiness certificate4 7c7 ,sightseeing ,for purposes of this section1 an aircraft shall not be considered as operated on an established line at any time during which such aircraft is being operated on a flight the sole purpose of which is sightseeing4 7d7 ,jet aircraft ,for purposes of this section1 the term jet aircraft shall not include any aircraft which is a rotorcraft or propeller aircraft4 4 7b7 ,effective date ,the amendment made by subsection 7a7 shall take effect as if included in section #aajg of the ,,faa ,modernization and ,reform ,act of #bjab4 #bje4 ,amendments relating to ,regulated ,investment ,company ,modernization ,act of #bjaj 7a7 ,amendments relating to section #aja 7#a7 ,subsection 7c7 of section #aja of the ,regulated ,investment ,company ,modernization ,act of #bjaj is amended-- 7,a7 by striking paragraph 7#b7 in paragraph 7#a7 and inserting paragraphs 7#b7 and 7#c71 and 7,b7 by adding at the end the following new paragraph3 7#c7 ,excise tax 7,a7 ,in general ,except as provided in subparagraph 7,b71 for purposes of section #dihb of the ,internal ,revenue ,code of #aihf1 paragraphs 7#a7 and 7#b7 shall apply by substituting the #a-year periods taken into account under subsection 7b77#a77;,b7 of such section with respect to calendar years beginning after ,december #ca1 #bjaj for taxable years beginning after the date of the enactment of this ,act4 7,b7 ,election ,a regulated investment company may elect to apply subparagraph 7,a7 by substituting #bjaa for #bjaj4 ,such election shall be made at such time and in such form and manner as the ,secretary of the ,treasury 7or the ,secretary's delegate7 shall prescribe4 4 7#b7 ,the first sentence of paragraph 7#b7 of section #heb7;c7 is amended-- 7,a7 by striking and without regard to and inserting 1 without regard to1 and 7,b7 by inserting 1 and without regard to any capital loss arising on the first day of the taxable year by reason of clauses 7ii7 and 7iii7 of section #abab7;a77#c77;,a7 before the period at the end4 7b7 ,amendment relating to section #cjd ,paragraph 7#a7 of section #hee7;a7 is amended by inserting on or before before4 7c7 ,amendments relating to section #cjh 7#a7 ,paragraph 7#h7 of section #heb7;b7 is amended by redesignating subparagraph 7,e7 as subparagraph 7,g7 and by striking subparagraphs 7,c7 and 7,d7 and inserting the following new subparagraphs3 7,c7 ,post-,october capital loss ,for purposes of this paragraph1 the term post-,october capital loss means-- 7i7 any net capital loss attributable to the portion of the taxable year after ,october #ca1 or 7ii7 if there is no such loss-- 7,i7 any net long-term capital loss attributable to such portion of the taxable year1 or 7,,ii7 any net short-term capital loss attributable to such portion of the taxable year4 7,d7 ,late-year ordinary loss ,for purposes of this paragraph1 the term late-year ordinary loss means the sum of any post-,october specified loss and any post-,december ordinary loss4 7,e7 ,post-,october specified loss ,for purposes of this paragraph1 the term post-,october specified loss means the excess 7if any7 of-- 7i7 the specified losses 7as defined in section #dihb7;e77#e77;,b77ii77 attributable to the portion of the taxable year after ,october #ca1 over 7ii7 the specified gains 7as defined in section #dihb7;e77#e77;,b77i77 attributable to such portion of the taxable year4 7,f7 ,post-,december ordinary loss ,for purposes of this paragraph1 the term post-,december ordinary loss means the excess 7if any7 of-- 7i7 the ordinary losses not described in subparagraph 7,e77i7 and attributable to the portion of the taxable year after ,december #ca1 over 7ii7 the ordinary income not described in subparagraph 7,e77ii7 and attributable to such portion of the taxable year4 4 7#b7 ,subparagraph 7,g7 of section #heb7;b77#h71 as so redesignated1 is amended by striking 1 7,d77i77,i71 and 7,d77ii77,i7 and inserting and 7,e74 7#c7 ,the first sentence of paragraph 7#b7 of section #heb7;c71 as amended by subsection 7a71 is amended-- 7,a7 by striking 1 and without regard to and inserting 1 without regard to1 and 7,b7 by inserting 1 and with such other adjustments as the ,secretary may prescribe before the period at the end4 7d7 ,amendments relating to section #djb 7#a7 ,subparagraph 7,b7 of section #dihb7;e77#f7 is amended by inserting before the period at the end the following3 or which determines income by reference to the value of an item on the last day of the taxable year4 7#b7 ,subparagraph 7,a7 of section #dihb7;e77#g7 is amended by striking such company and all that follows through any net ordinary loss and inserting such company may elect to determine its ordinary income and net ordinary loss 7as defined in paragraph 7#b77;,c77ii77 for the calendar year without regard to any portion of any net ordinary loss4 7e7 ,clerical amendment relating to section #bja ,subparagraph 7,a7 of section #hea7;d77#b7 is amended by inserting of this paragraph after subparagraph 7,b77i74 7f7 ,effective date 7#a7 ,in general ,except as provided in paragraph 7#b71 the amendments made by this section shall take effect as if included in the provision of the ,regulated ,investment ,company ,modernization ,act of #bjaj to which they relate4 7#b7 ,savings provision ,in the case of an election by a regulated investment company under section #heb7;b77#h7 of the ,internal ,revenue ,code of #aihf with respect to any taxable year beginning before the date of the enactment of this ,act1 such company may treat the amendments made by paragraphs 7#a7 and 7#b7 of subsection 7c7 as not applying with respect to any such election4 #bjf4 ,amendments relating to ,tax ,relief1 ,unemployment ,insurance ,reauthorization1 and ,job ,creation ,act of #bjaj 7a7 ,amendment relating to section #ajc ,clause 7ii7 of section #cb7;b77#c77;,b7 is amended by striking in #bjaj and inserting after #bjji4 7b7 ,clerical amendments relating to section #cjb 7#a7 ,paragraph 7#a7 of section #bhja7;a7 is amended by striking 7or1 if greater1 the highest rate of tax specified in the table applicable under section #bejb7;a7 as in effect on the date74 7#b7 ,subsection 7f7 of section #cjb of the ,tax ,relief1 ,unemployment ,insurance ,reauthorization1 and ,job ,creation ,act of #bjaj is amended by striking subsection and inserting section4 7c7 ,amendments relating to section #gec ,subparagraph 7,a7 of section #acig;,b7b77#a7 is amended by striking and at the end of clause 7ii71 by striking the period at the end of clause 7iii7 and inserting 1 and1 and by adding at the end the following new clause3 7iv7 the day after the date set forth in section #acia7;d77#a77;,a77i7 were substituted for ,january #a1 #bjaj each place it appears4 4 7d7 ,effective date ,the amendments made by this section shall take effect as if included in the provisions of the ,tax ,relief1 ,unemployment ,insurance ,reauthorization1 and ,job ,creation ,act of #bjaj to which they relate4 #bjg4 ,amendments relating to ,creating ,small ,business ,jobs ,act of #bjaj 7a7 ,amendments relating to section #bajb 7#a7 ,subsection 7h7 of section #bajb of the ,creating ,small ,business ,jobs ,act of #bjaj is amended by inserting 1 and payee statements required to be furnished1 after information returns required to be filed4 7#b7 ,paragraphs 7#a7 and 7#b7 of subsection 7b71 and subsection 7c77#a77;,c71 of section #fgbb are each amended by striking the required filing date and inserting the date prescribed for furnishing such statement4 7#c7 ,subparagraph 7,b7 of section #fgbb7;c77#b7 is amended by striking filed and inserting furnished4 7b7 ,effective date ,the amendments made by this section shall take effect as if included in the provision of the ,creating ,small ,business ,jobs ,act of #bjaj to which they relate4 #bjh4 ,clerical amendment relating to ,hiring ,incentives to ,restore ,employment ,act 7a7 ,amendment relating to section #eab ,paragraph 7#a7 of section #eab7;a7 of the ,hiring ,incentives to ,restore ,employment ,act is amended by striking after paragraph 7#f7 and inserting after paragraph 7#e74 7b7 ,effective date ,the amendment made by this section shall take effect as if included in the provision of the ,hiring ,incentives to ,restore ,employment ,act to which it relates4 #bji4 ,amendments relating to ,american ,recovery and ,reinvestment ,tax ,act of #bjji 7a7 ,amendment relating to section #ajjc ,paragraph 7#d7 of section #bd7;d7 is amended to read as follows3 7#d7 ,special rule for certain years ,in the case of any taxable year beginning after #bjjh and before #bjah1 paragraph 7#a77;,b77i7 shall be applied by substituting #c1jjj for #aj1jjj4 4 7b7 ,amendment relating to section #ajjd ,paragraph 7#c7 of section #be;,a7i7 is amended by striking ,subsection 7f77#a77;,a7 shall be applied and inserting ,for purposes of determining the ,hope ,scholarship ,credit1 subsection 7f77#a77;,a7 shall be applied4 7c7 ,amendments relating to section #ajjh 7#a7 ,paragraph 7#f7 of section #afd7;b7 is amended by striking subparagraph 7,e7 and by redesignating subparagraphs 7,f7 and 7,g7 as subparagraphs 7,e7 and 7,f71 respectively4 7#b7 ,subparagraphs 7,e7 and 7,f7 of section #afd7;b77#f71 as so redesignated1 are each amended by striking ,this paragraph and inserting ,subsection 7a77#f74 7d7 ,amendment relating to section #aajd ,subparagraph 7,a7 of section #dh7;d77#c7 is amended by inserting or alternative minimum taxable income after includible in the gross income4 7e7 ,amendments relating to section #aada 7#a7 ,subsection 7f7 of section #cj;,d is amended-- 7,a7 by inserting 7determined without regard to subsection 7c77 before the period at the end of paragraph 7#a71 and 7,b7 by inserting 7determined without regard to subsection 7c77 before the period at the end of paragraph 7#b74 7#b7 ,paragraph 7#c7 of section #cj;,d7f7 is amended by adding at the end the following3 ,for purposes of subsection 7c71 property to which this paragraph applies shall be treated as of a character subject to an allowance for depreciation44 7f7 ,amendments relating to section #aadb 7#a7 ,subsection 7b7 of section #ch is amended by striking plus at the end of paragraph 7#ce71 by redesignating paragraph 7#cf7 as paragraph 7#cg71 and by inserting after paragraph 7#ce7 the following new paragraph3 7#cf7 the portion of the qualified plug-in electric vehicle credit to which section #cj7;c77#a7 applies1 plus 4 7#b7 7,a7 ,subsection 7e7 of section #cj is amended-- 7i7 by inserting 7determined without regard to subsection 7c77 before the period at the end of paragraph 7#a71 and 7ii7 by inserting 7determined without regard to subsection 7c77 before the period at the end of paragraph 7#b74 7,b7 ,paragraph 7#c7 of section #cj7;e7 is amended by adding at the end the following3 ,for purposes of subsection 7c71 property to which this paragraph applies shall be treated as of a character subject to an allowance for depreciation44 7g7 ,amendment relating to section #acjb ,paragraph 7#c7 of section #dh;,c7b7 is amended by inserting as the qualified investment after ,the amount which is treated4 7h7 ,amendments related to section #aeda 7#a7 ,paragraph 7#b7 of section #hec;,a7a7 is amended by inserting 7determined after the application of this section7 before the comma at the end4 7#b7 ,subsection 7a7 of section #hec;,a is amended-- 7,a7 by striking with respect to credits and inserting with respect to some or all of the credits1 and 7,b7 by inserting 7determined without regard to this section and sections #ed7;c71 #ed;,a7c77#a71 #ed;,,aa7c77#a71 and #acig;,e7c77 after credits allowable4 7#c7 ,subsection 7b7 of section #hec;,a is amended to read as follows3 7b7 ,effect of election ,if the election provided in subsection 7a7 is in effect with respect to any credits for any taxable year-- 7#a7 the regulated investment company-- 7,a7 shall not be allowed such credits1 7,b7 shall include in gross income 7as interest7 for such taxable year the amount which would have been so included with respect to such credits had the application of this section not been elected1 7,c7 shall include in earnings and profits the amount so included in gross income1 and 7,d7 shall be treated as making one or more distributions of money with respect to its stock equal to the amount of such credits on the date or dates 7on or after the applicable date for any such credit7 during such taxable year 7or following the close of the taxable year pursuant to section #hee7 selected by the company1 and 7#b7 each shareholder of such investment company shall-- 7,a7 be treated as receiving such shareholder's proportionate share of any distribution of money which is treated as made by such investment company under paragraph 7#a77;,d71 and 7,b7 be allowed credits against the tax imposed by this chapter equal to the amount of such distribution1 subject to the provisions of this title applicable to the credit involved4 4 7#d7 ,subsection 7c7 of section #hec;,a is amended to read as follows3 7c7 ,notice to shareholders ,the amount treated as a distribution of money received by a shareholder under subsection 7b77#b77;,a7 7and as credits allowed to such shareholder under subsection 7b77#b77;,b77 shall not exceed the amount so reported by the regulated investment company in a written statement furnished to such shareholder4 4 7#e7 ,clause 7ii7 of section #hec;,a7e77#a77;,a7 is amended by inserting other than a qualified bond described in section #ed;,,aa7g7 after as defined in section #ed;,,aa7d774 7i7 ,amendments relating to section #bbjb 7#a7 ,subparagraph 7,a7 of section #bbjb7;b77#a7 of division ,b of the ,american ,recovery and ,reinvestment ,act of #bjji is amended by inserting political subdivision of a ,state1 after any ,state14 7#b7 ,section #bbjb of division ,b of the ,american ,recovery and ,reinvestment ,act of #bjji is amended by adding at the end the following new subsection3 7e7 ,treatment of ,possessions 7#a7 ,payments to mirror code possessions ,the ,secretary of the ,treasury shall pay to each possession of the ,united ,states with a mirror code tax system amounts equal to the loss to that possession by reason of credits allowed under subsection 7a7 with respect to taxable years beginning in #bjji4 ,such amounts shall be determined by the ,secretary of the ,treasury based on information provided by the government of the respective possession4 7#b7 ,coordination with credit allowed against united states income taxes ,no credit shall be allowed against ,united ,states income taxes for any taxable year under this section to any person to whom a credit is allowed against taxes imposed by the possession by reason of the credit allowed under subsection 7a7 for such taxable year4 7#c7 ,definitions and special rules 7,a7 ,possession of the united states ,for purposes of this subsection1 the term possession of the ,united ,states includes the ,commonwealth of the ,northern ,mariana ,islands4 7,b7 ,mirror code tax system ,for purposes of this subsection1 the term mirror code tax system means1 with respect to any possession of the ,united ,states1 the income tax system of such possession if the income tax liability of the residents of such possession under such system is determined by reference to the income tax laws of the ,united ,states as if such possession were the ,united ,states4 7,c7 ,treatment of payments ,for purposes of section #acbd7;b77#b7 of title #ca1 ,united ,states ,code1 the payments under this subsection shall be treated in the same manner as a refund due from the credit allowed under section #cf;,a of the ,internal ,revenue ,code of #aihf 7as added by this ,act74 4 7j7 ,clerical amendments 7#a7 ,amendment relating to section #aaca ,paragraph 7#b7 of section #de,q7d7 is amended by striking ,administrator of the ,environmental ,protection ,agency and all that follows through shall establish and inserting ,administrator of the ,environmental ,protection ,agency1 the ,secretary of ,energy1 and the ,secretary of the ,interior1 shall establish4 7#b7 ,amendment relating to section #aada ,paragraph 7#cg7 of section #ajaf7;a7 is amended by striking section #cj;,d7e77#d7 and inserting section #cj;,d7f77#a74 7#c7 ,amendment relating to section #cjja ,subparagraph 7,a7 of section #cjja7;a77#ad7 of the ,american ,recovery and ,reinvestment ,act of #bjji is amended by striking is amended by redesignating paragraph 7#i7 as paragraph 7#aj7 and inserting 1 as amended by this ,act1 is amended by redesignating paragraphs 7#i7 and 7#aj7 as paragraphs 7#aj7 and 7#aa71 respectively14 7k7 ,effective date ,the amendments made by this section shall take effect as if included in the provisions of the ,american ,recovery and ,reinvestment ,tax ,act of #bjji to which they relate4 #baj4 ,amendments relating to ,energy ,improvement and ,extension ,act of #bjjh 7a7 ,amendment relating to section #ajh ,subparagraph 7,e7 of section #de,k7g77#b7 is amended to read as follows3 7,e7 ,coordination with section #de ,no credit shall be allowed with respect to any coke or coke gas which is produced using steel industry fuel 7as defined in section #de7;c77#g77 as feedstock if a credit is allowed to any taxpayer under section #de with respect to the production of such steel industry fuel4 4 7b7 ,amendment relating to section #aac ,paragraph 7#a7 of section #aac7;b7 of the ,energy ,improvement and ,extension ,act of #bjjh is amended by adding at the end the following new subparagraph3 7,f7 ,trust ,fund ,the term ,trust ,fund means the ,black ,lung ,disability ,trust ,fund established under section #ieja of the ,internal ,revenue ,code of #aihf4 4 7c7 ,amendments relating to section #cjf 7#a7 ,clause 7ii7 of section #afh7;i77#ah77;,a7 is amended by striking #aj years and inserting #af years4 7#b7 ,clause 7ii7 of section #afh7;i77#ai77;,a7 is amended by striking #aj years and inserting #af years4 7d7 ,amendment relating to section #cjh ,clause 7i7 of section #afh7m77#b77;,b7 is amended by striking section #afh7k7 and inserting subsection 7k7 7determined without regard to paragraph 7#d7 thereof74 7e7 ,amendment relating to section #djb ,subparagraph 7,a7 of section #ijg7;f77#d7 is amended by striking this subsection shall be applied and all that follows through the period at the end and inserting the following3 this subsection1 as in effect on the day before the date of the enactment of the ,energy ,improvement and ,extension ,act of #bjjh1 shall apply to unused oil and gas extraction taxes carried from such unused credit year to a taxable year beginning after ,december #ca1 #bjjh44 7f7 ,amendments relating to section #djc 7#a7 ,subsection 7c7 of section #ajab is amended-- 7,a7 by striking funds in the heading for paragraph 7#b7 and inserting regulated investment companies1 7,b7 by striking fund in the heading for paragraph 7#b77;,b71 and 7,c7 by striking fund each place it appears in paragraph 7#b7 and inserting regulated investment company4 7#b7 ,paragraph 7#a7 of section #ajab7;d7 is amended-- 7,a7 by striking ,december #ca1 #bjaj and inserting ,december #ca1 #bjaa1 and 7,b7 by striking an open-end fund and inserting a regulated investment company4 7#c7 ,paragraph 7#c7 of section #ajab7;d7 is amended to read as follows3 7#c7 ,separate accounts2 election for treatment as single account 7,a7 ,in general ,rules similar to the rules of subsection 7c77#b7 shall apply for purposes of this subsection4 7,b7 ,average basis method ,notwithstanding paragraph 7#a71 in the case of an election under rules similar to the rules of subsection 7c77#b77;,b7 with respect to stock held in connection with a dividend reinvestment plan1 the average basis method is permissible with respect to all such stock without regard to the date of the acquisition of such stock4 4 7#d7 ,subsection 7g7 of section #fjde is amended by adding at the end the following new paragraph3 7#f7 ,special rule for certain stock held in connection with dividend reinvestment plan ,for purposes of this subsection1 stock acquired before ,january #a1 #bjab1 in connection with a dividend reinvestment plan shall be treated as stock described in clause 7ii7 of paragraph 7#c77;,c7 7unless the broker with respect to such stock elects not to have this paragraph apply with respect to such stock74 4 7g7 ,clerical amendments 7#a7 ,amendment relating to section #ajh ,paragraph 7#b7 of section #de7;b7 is amended by striking #c amount and inserting #b amount4 7#b7 ,amendment relating to section #cjf 7,a7 ,paragraph 7#e7 of section #afh7;b7 is amended by striking 7#b77;,c7 and inserting 7#b77;,d74 7,b7 ,the last sentence of section #afh7k77#d77;,c77i7 is amended by striking 7b77#b77;,c7 and inserting 7b77#b77;,d74 7h7 ,effective date ,the amendments made by this section shall take effect as if included in the provisions of the ,energy ,improvement and ,extension ,act of #bjjh to which they relate4 #baa4 ,amendments relating to ,tax ,extenders and ,alternative ,minimum ,tax ,relief ,act of #bjjh 7a7 ,amendment relating to section #bjh ,subsection 7b7 of section #bjh of the ,tax ,extenders and ,alternative ,minimum ,tax ,relief ,act of #bjjh is amended to read as follows3 7b7 ,effective date 7#a7 ,in general ,the amendment made by subsection 7a7 shall take effect on ,january #a1 #bjjh4 ,notwithstanding the preceding sentence1 such amendment shall not apply with respect to the withholding requirement under section #adde of the ,internal ,revenue ,code of #aihf for any payment made before ,october #d1 #bjjh4 7#b7 ,amounts withheld on or before date of enactment ,in the case of a regulated investment company-- 7,a7 which makes a distribution after ,december #ca1 #bjjg1 and before ,october #d1 #bjjh1 and 7,b7 which would 7but for the second sentence of paragraph 7#a77 have been required to withhold with respect to such distribution under section #adde of such ,code1 such investment company shall not be liable to any person to whom such distribution was made for any amount so withheld and paid over to the ,secretary of the ,treasury4 4 7b7 ,amendments relating to section #cje ,paragraphs 7#g77;,b7 and 7#h77;,d7 of section #afh7;e7 are each amended by inserting which is not qualified leasehold improvement property after ,property described in this paragraph4 7c7 ,clerical amendments 7#a7 ,amendments relating to section #gjf 7,a7 ,paragraph 7#b7 of section #ajcc7;h7 is amended by inserting is before compulsorily4 7,b7 ,subclause 7,,ii7 of section #agb7;b77#a77;,f77ii7 is amended by striking subsection 7h77#c77;,c77i7 and inserting section #afe7;h77#c77;,c77i74 7,c7 ,the heading for paragraph 7#a7 of section #afe7;h7 is amended by striking #ajj and inserting ,dollar4 7#b7 ,amendment relating to section #gji ,subsection 7k7 of section #adc is amended by redesignating the second paragraph 7#ab7 7relating to special rules for residences destroyed in ,federally declared disasters7 as paragraph 7#ac74 7#c7 ,amendment relating to section #gab ,section #gab of the ,tax ,extenders and ,alternative ,minimum ,tax ,relief ,act of #bjjh is amended by striking section #gjb7;c77#a77;,a7 and inserting section #gjb7;b77#a77;,a74 7d7 ,effective date ,the amendments made by this section shall take effect as if included in the provisions of the ,tax ,extenders and ,alternative ,minimum ,tax ,relief ,act of #bjjh to which they relate4 #bab4 ,clerical amendments relating to ,housing ,assistance ,tax ,act of #bjjh 7a7 ,amendment relating to section #cjjb ,paragraph 7#a7 of section #db7;b7 is amended by striking ,for purposes of this section1 the term and inserting the following3 ,for purposes of this section-- 7,a7 ,in general ,the term 4 7b7 ,amendment relating to section #cjha ,clause 7iv7 of section #afh7k77#d77;,e7 is amended by striking adjusted minimum tax and inserting adjusted net minimum tax4 7c7 ,amendment relating to section #cjib ,subsection 7b7 of section #aba is amended by redesignating the second paragraph 7#d7 7relating to exclusion of gain allocated to nonqualified use7 as paragraph 7#e74 7d7 ,effective date ,the amendments made by this section shall take effect as if included in the provisions of the ,housing ,assistance ,tax ,act of #bjjh to which they relate4 #bac4 ,amendments and provision relating to ,heroes ,earnings ,assistance and ,relief ,tax ,act of #bjjh 7a7 ,amendment relating to section #ajf ,paragraph 7#b7 of section #ajf7;c7 of the ,heroes ,earnings ,assistance and ,relief ,tax ,act of #bjjh is amended by striking substituting for and inserting substituting ,june #ag1 #bjjh for4 7b7 ,amendment relating to section #aad ,paragraph 7#a7 of section #abe7;h7 is amended by inserting 7and shall not fail to be treated as an accident or health plan7 before merely4 7c7 ,clerical amendments 7#a7 ,amendment relating to section #aaj ,subparagraph 7,b7 of section #aba7;d77#ab7 is amended by inserting of paragraph 7#i7 after and 7,d74 7#b7 ,amendment relating to section #cja ,paragraph 7#b7 of section #hgg7;e7 is amended by striking subparagraph 7,a7 or 7,b7 of4 7d7 ,effective date ,the amendments made by this section shall take effect as if included in the provisions of the ,heroes ,earnings ,assistance and ,relief ,tax ,act of #bjjh to which they relate4 #bad4 ,amendments relating to ,economic ,stimulus ,act of #bjjh 7a7 ,amendments relating to section #aja ,paragraph 7#b7 of section #fbac7;g7 is amended-- 7#a7 by striking #cb1 or #fdbh in subparagraph 7,l7 and inserting or #cb1 and 7#b7 by striking and at the end of subparagraph 7,o71 by striking the period at the end of subparagraph 7,p7 and inserting 1 and1 and by inserting after subparagraph 7,p7 the following new subparagraph3 7,q7 an omission of a correct valid identification number required under section #fdbh7;h7 7relating to #bjjh recovery rebates for individuals7 to be included on a return4 4 7b7 ,clerical amendment relating to section #ajc ,subclause 7,,iv7 of section #afh7k77#b77;,b77i7 is amended by striking clauses also apply and inserting clause also applies4 7c7 ,effective date ,the amendments made by this section shall take effect as if included in the provisions of the ,economic ,stimulus ,act of #bjjh to which they relate4 #bae4 ,amendments relating to ,tax ,technical ,corrections ,act of #bjjg 7a7 ,amendment relating to section #d7;c7 ,paragraph 7#a7 of section #iaa7;f7 is amended by adding at the end the following flush sentence3 ,for purposes of this paragraph1 the amount excluded under subsection 7a7 shall be reduced by the aggregate amount of any deductions or exclusions disallowed under subsection 7d77#f7 with respect to such excluded amount4 4 7b7 ,clerical amendment relating to section #aa7;g7 ,clause 7iv7 of section #ef7;g77#d77;,c7 is amended by striking a cooperative described in section #ibg7;a77#d7 and inserting an organization to which part ,i of subchapter ,t 7relating to tax treatment of cooperatives7 applies which is engaged in the marketing of agricultural or horticultural products4 7c7 ,effective date ,the amendments made by this section shall take effect as if included in the provisions of the ,tax ,technical ,corrections ,act of #bjjg to which they relate4 #baf4 ,amendment relating to ,tax ,relief and ,health ,care ,act of #bjjf 7a7 ,amendment relating to section #aje ,subparagraph 7,b7 of section #de;,a7b77#a7 is amended by adding at the end the following3 ,if any portion of wages are taken into account under subsection 7e77#a77;,a7 of section #ea1 the preceding sentence shall be applied by substituting #b-year period for #a-year period44 7b7 ,effective date ,the amendment made by this section shall take effect as if included in the provision of the ,tax ,relief and ,health ,care ,act of #bjjf to which it relates4 #bag4 ,amendment relating to ,safe1 ,accountable1 ,flexible1 ,efficient ,transportation ,equity ,act of #bjje3 ,a ,legacy for ,users 7a7 ,amendment relating to section #aaafa ,paragraph 7#a7 of section #iejc7;b7 is amended by inserting before the period at the end the following3 and taxes received under section #djha shall be determined without regard to tax receipts attributable to the rate specified in section #djha7;a77#b77;,c74 7b7 ,effective date ,the amendment made by this section shall take effect as if included in the provision of the ,safe1 ,accountable1 ,flexible1 ,efficient ,transportation ,equity ,act of #bjje3 ,a ,legacy for ,users to which it relates4 #bah4 ,amendments relating to ,energy ,tax ,incentives ,act of #bjje 7a7 ,amendment relating to section #acda ,subparagraph 7,b7 of section #cj;,b7h77#e7 is amended by inserting 7determined without regard to subsection 7g77 before the period at the end4 7b7 ,amendment relating to section #acdb ,paragraph 7#a7 of section #cj;,c7e7 is amended to read as follows3 7#a7 ,reduction in basis ,for purposes of this subtitle1 the basis of any property for which a credit is allowable under subsection 7a7 shall be reduced by the amount of such credit so allowed 7determined without regard to subsection 7d774 4 7c7 ,effective date ,the amendments made by this section shall take effect as if included in the provision of the ,energy ,tax ,incentives ,act of #bjje to which it relates4 #bai4 ,amendments relating to ,american ,jobs ,creation ,act of #bjjd 7a7 ,amendment relating to section #aja ,subsection 7d7 of section #aja of the ,american ,jobs ,creation ,act of #bjjd is amended by adding at the end the following new paragraph3 7#c7 ,coordination with section #aii ,this subsection shall be applied without regard to any deduction allowable under section #aii4 4 7b7 ,amendments relating to section #ajb ,paragraph 7#c7 of section #aii7;b7 is amended-- 7#a7 by inserting of a short taxable year or after in cases1 and 7#b7 by striking and dispositions and inserting 1 dispositions1 and short taxable years4 7c7 ,clerical amendment relating to section #dac ,paragraph 7#g7 of section #ijd7;h7 is amended by striking as ordinary income under section #abdf or4 7d7 ,effective date ,the amendments made by this section shall take effect as if included in the provision of the ,american ,jobs ,creation ,act of #bjjd to which they relate4 #bbj4 ,other clerical corrections 7a7 ,paragraph 7#h7 of section #cj;,b7h7 is amended by striking vehicle741 except that and inserting vehicle71 except that4 7b7 ,subparagraph 7,a7 of section #ch7;c77#b7 is amended by striking credit credit and inserting credit4 7c7 ,section #df is amended by adding a comma at the end of paragraph 7#d74 7d7 ,subparagraph 7,e7 of section #ej7;a77#b7 is amended by inserting 1 #dh;,a7b77#c71 #dh;,b7b77#c71 #dh;,c7b77#b71 or #dh;,d7b77#d7 after in section #dh7;b74 7e7 ,clause 7i7 of section #ed;,a7d77#b77;,a7 is amended by striking #ajj percent or more and inserting #ajj percent4 7f7 ,paragraph 7#b7 of section #abe7;b7 is amended by striking statutory nontaxable benefits each place it appears and inserting qualified benefits4 7g7 ,paragraph 7#b7 of section #abe7;h7 is amended by striking means1 any and inserting means any4 7h7 ,subparagraph 7,f7 of section #afc7;h77#d7 is amended by striking ,veterans ,administration or the ,rural ,housing ,administration and inserting ,department of ,veterans ,affairs or the ,rural ,housing ,service4 7i7 ,subsection 7a7 of section #bdi is amended by striking #aefc7;a77#a7 and inserting #aefc7;a77#a774 7j7 ,paragraphs 7#h7 and 7#aj7 of section #bhj;,f7d7 are each amended by striking subsection 7a77#b7 and inserting subsection 7a77#a74 7k7 ,clause 7iii7 of section #djb;,a7c77#d77;,e7 is amended by striking #djc7;b77#g77;,a77i7 and inserting #djc7;b77#g77;,a77ii74 7l7 ,section #ebg is amended-- 7#a7 by striking 7#b ,u4,s4,c4 #dcb7;e77 in subsection 7h77#b77;,a77i7 and inserting 7#eb ,u4,s4,c4 #cjajb7;e771 and 7#b7 by striking 7#b ,u4,s4,c4 #dca et seq47 in subsections 7i77#f7 and 7j77#e77;,a7 and inserting 7#eb ,u4,s4,c4 #cjaja et seq474 7m7 ,subsection 7b7 of section #heh is amended by striking #heg7;b77#h7 and inserting #heg7;b77#i74 7n7 ,subparagraph 7,a7 of section #ajab7;c77#b7 is amended by striking section #ajab and inserting this section4 7o7 ,the heading for section #acid7;f7 is amended by striking designated under section #acia7;g74 7p7 ,paragraphs 7#a7 and 7#b77;,a7 of section #acid7;f7 are each amended by striking a new empowerment zone facility bond and inserting an empowerment zone facility bond4 7q7 ,clause 7i7 of section #adjj,n7c77#c77;,a7 is amended by striking section #db7;d77#e77;,c77iii7 and inserting section #db7;d77#e77;,b77iii74 7r7 ,subsections 7e77#c77;,b7 and 7f77#g77;,b7 of section #didc are each amended by striking ,january #a1 #aigj and inserting ,january #a1 #aiga4 7s7 ,paragraph 7#b7 of section #dihb7;f7 is amended by adding a comma at the end4 7t7 ,paragraph 7#c7 of section #fjaa7;e7 is amended by striking shall require than and inserting shall require that4 7u7 ,subsection 7b7 of section #fjgb is amended by striking #fjaa7;e77#b7 and inserting #fjaa7;c77#b74 7v7 ,subsection 7d7 of section #fajd is amended by redesignating the second paragraph 7#f7 7relating to disclosure of reports by the ,internal ,revenue ,service7 and third paragraph 7#f7 7relating to application to nonexempt charitable trusts and nonexempt private foundations7 as paragraphs 7#g7 and 7#h71 respectively4 7w7 ,subsection 7c7 of section #fffb;,a is amended by striking section #fffd7;d77#b77;,a7 and inserting section #fffd7;d77#c77;,a74 7x7 ,subparagraph 7,,ff7 of section #fgbd7;d77#b7 is amended by striking section #fjej,w7c7 and inserting section #fjej,w7f74 7y7 ,section #gabb is amended by redesignating the second subsection 7f7 7relating to frivolous submissions1 etc47 as subsection 7g74 7z7 ,subsection 7a7 of section #ijce is amended by striking section #cbj7;b77#a77;,a7 and inserting section #cae7;b77#a77;,a74 7aa7 ,section #ihjb is amended by redesignating the second subsection 7f7 7relating to genetic information of a fetus or embryo7 as subsection 7g74 7bb7 ,paragraph 7#c7 of section #ac7;e7 of the ,worker1 ,homeownership1 and ,business ,assistance ,act of #bjji is amended by striking subsection 7d7 and inserting subsection 7c74 #bba4 ,deadwood provisions 7a7 ,in general 7#a7 ,adjustments in tax tables so that inflation will not result in tax increases ,paragraph 7#g7 of section #a7;f7 is amended to read as follows3 7#g7 ,special rule for certain brackets ,in prescribing tables under paragraph 7#a7 which apply to taxable years beginning in a calendar year after #aiid1 the cost-of-living adjustment used in making adjustments to the dollar amounts at which the #cf percent rate bracket begins or at which the #ci4f percent rate bracket begins shall be determined under paragraph 7#c7 by substituting #aiic for #aiib4 4 7#b7 ,certain plug-in electric vehicles 7,a7 ,subpart ,b of part ,,iv of subchapter ,a of chapter #a is amended by striking section #cj 7and by striking the item relating to such section in the table of sections for such subpart74 7,b7 ,subsection 7b7 of section #ch1 as amended by section #bji7;f77#a7 of this ,act1 is amended by inserting plus at the end of paragraph 7#ce71 by striking paragraph 7#cf71 and by redesignating paragraph 7#cg7 as paragraph 7#cf74 7,c7 ,subclause 7,,vi7 of section #dh;,c7c77#a77;,a77i7 is amended by striking 1 qualified plug-in electric vehicles 7as defined by section #cj7;d7714 7,d7 ,section #ajaf7;a7 is amended by striking paragraph 7#be74 7,e7 ,section #feja7m7 is amended by striking section #cj7;e77#f714 7#c7 ,earned income credit 7,a7 ,paragraph 7#a7 of section #cb7;b7 is amended-- 7i7 by striking subparagraphs 7,b7 and 7,c71 and 7ii7 by striking 7,a7 ,in general4--,in the case of taxable years beginning after #aiie3 in subparagraph 7,a7 and moving the table #b ems to the left4 7,b7 ,subparagraph 7,b7 of section #cb7;b77#b7 is amended by striking increased by and all that follows and inserting increased by #c1jjj44 7#d7 ,first-time homebuyer credit ,section #fbac7;g77#b71 as amended by section #bad7;a77#b7 of this ,act1 is amended by striking subparagraph 7,p74 7#e7 ,making work pay credit 7,a7 ,subpart ,c of part ,,iv of subchapter ,a of chapter #a is amended by striking section #cf;,a 7and by striking the item relating to such section in the table of sections for such subpart74 7,b7 ,subparagraph 7,a7 of section #fbaa7;b77#d7 is amended by striking 1 #cf;,a4 7,c7 ,section #fbac7;g77#b7 is amended by striking subparagraph 7,n74 7#f7 ,general business credits ,subsection 7d7 of section #ch is amended by striking paragraph 7#c74 7#g7 ,low-income housing credit ,subclause 7,i7 of section #db7;h77#c77;,c77ii7 is amended by striking 7#a4ej for #bjja74 7#h7 ,minimum tax credit 7,a7 7i7 ,section #ec is amended by striking subsections 7e7 and 7f74 7ii7 ,the amendment made by clause 7i7 striking subsection 7f7 of section #ec of the ,internal ,revenue ,code of #aihf shall not be construed to allow any tax abated by reason of section #ec7;f77#a7 of such ,code 7as in effect before such amendment7 to be included in the amount determined under section #ec7;b77#a7 of such ,code4 7,b7 ,paragraph 7#d7 of section #fbaa7;b77#d7 is amended by striking 1 #ec7;e74 7#i7 ,adjustments based on adjusted current earnings ,clause 7ii7 of section #ef7;g77#d77;,f7 is amended by striking ,in the case of any taxable year beginning after ,december #ca1 #aiib1 clause and inserting ,clause4 7#aj7 ,items of tax preference2 depletion ,paragraph 7#a7 of section #eg7;a7 is amended by striking ,effective with respect to taxable years beginning after ,december #ca1 #aiib1 this and inserting ,this4 7#aa7 ,intangible drilling costs 7,a7 ,clause 7i7 of section #eg7;a77#b77;,e7 is amended by striking ,in the case of any taxable year beginning after ,december #ca1 #aiib1 this and inserting ,this4 7,b7 ,clause 7ii7 of section #eg7;a77#b77;,e7 is amended by striking 7#cj percent in case of taxable years beginning in #aiic74 7#ab7 ,environmental tax 7,a7 ,subchapter ,a of chapter #a is amended by striking part ,,vii 7and by striking the item relating to such part in the table of parts for such subchapter74 7,b7 ,paragraph 7#b7 of section #bf7;b7 is amended by striking subparagraph 7,b74 7,c7 ,section #cj;,a7c7 is amended by striking paragraph 7#a7 and by redesignating paragraphs 7#b71 7#c71 and 7#d7 as paragraphs 7#a71 7#b71 and 7#c71 respectively4 7,d7 ,subsection 7a7 of section #afd is amended by striking paragraph 7#e74 7,e7 ,section #bge7;a7 is amended by striking the last sentence4 7,f7 ,section #hhb7;a77#a7 is amended by striking 1 #ei;,a4 7,g7 ,section #icf7;a77#c7 is amended by striking subparagraph 7,a7 and by redesignating subparagraphs 7,b71 7,c71 and 7,d7 as subparagraphs 7,a71 7,b71 and 7,c71 respectively4 7,h7 ,section #aefa7;a7 is amended-- 7i7 by inserting and at the end of paragraph 7#b71 by striking 1 and at the end of paragraph 7#c7 and inserting a period1 and by striking paragraph 7#d71 and 7ii7 by striking 1 the amount specified in paragraph 7#c71 and the amount specified in paragraph 7#d7 and inserting and the amount specified in paragraph 7#c74 7,i7 ,section #dfaa7;e7 is amended-- 7i7 by striking section #ei;,a1 this section1 in paragraph 7#b77;,b7 and inserting this section1 and 7ii7 in paragraph 7#c77;,a7-- 7,i7 by striking section #ei;,a1 1 and 7,,ii7 by striking the comma after rate74 7,j7 ,section #fdbe7;c77#a77;,a7 is amended by inserting plus at end of clause 7i71 by striking plus and inserting over at the end of clause 7ii71 and by striking clause 7iii74 7,k7 ,section #ffee is amended-- 7i7 in subsections 7e77#b77;,a77i7 and 7e77#b77;,b77i71 by striking taxable income1 alternative minimum taxable income1 and modified alternative minimum taxable income and inserting taxable income and alternative minimum taxable income1 7ii7 in subsection 7e77#b77;,b71 by striking clause 7iii71 and 7iii7 in subsection 7g77#a77;,a71 by inserting plus at the end of clause 7ii71 by striking clause 7iii71 and by redesignating clause 7iv7 as clause 7iii74 7,l7 ,section #iejg7;b77#a7 is amended by striking #ei;,a14 7#ac7 ,standard deduction 7,a7 ,so much of paragraph 7#a7 of section #fc7;c7 as follows the sum of-- is amended to read as follows3 7,a7 the basic standard deduction1 and 7,b7 the additional standard deduction4 4 7,b7 ,subsection 7c7 of section #fc is amended by striking paragraphs 7#g71 7#h71 and 7#i74 7#ad7 ,annuities2 certain proceeds of endowment and life insurance contracts ,section #gb is amended-- 7,a7 in subsection 7c77#d71 by striking 2 except that if such date was before ,january #a1 #aied1 then the annuity starting date is ,january #a1 #aied1 and 7,b7 in subsection 7g77#c71 by striking ,january #a1 #aied1 or and 1 whichever is later4 7#ae7 ,unemployment compensation ,section #he is amended by striking subsection 7c74 7#af7 ,accident and health plans ,section #aje7;f7 is amended by striking or 7d74 7#ag7 ,flexible spending arrangements ,section #ajf7;c77#a7 is amended by striking ,effective on and after ,january #a1 #aiig1 gross and inserting ,gross4 7#ah7 ,certain combat zone compensation of members of the armed forces ,subsection 7c7 of section #aab is amended-- 7,a7 by striking 7after ,june #bd1 #aiej7 in paragraph 7#b71 and 7,b7 by striking such zone2 and all that follows in paragraph 7#c7 and inserting such zone44 7#ai7 ,legal service plans 7,a7 ,part ,,iii of subchapter ,b of chapter #a is amended by striking section #abj 7and by striking the item relating to such section in the table of sections for such subpart74 7,b7 7i7 ,section #dad7n77#c77;,c7 is amended by striking #abj14 7ii7 ,section #dad7t77#b7 is amended by striking #abj14 7iii7 ,section #eja7;c7 is amended by striking paragraph 7#bj74 7iv7 ,section #caba7;a7 is amended by striking paragraph 7#ag74 7v7 ,section #cbca7;e7 is amended by striking paragraph 7#g74 7vi7 ,section #ccjf7;b7 is amended by striking paragraph 7#ab74 7vii7 ,section #fjci;,d7d77#a7 is amended by striking #abj14 7viii7 ,section #bji7;a77#ad7 of the ,social ,security ,act is amended-- 7,i7 by striking subparagraph 7,b71 and 7,,ii7 by striking 7#ad77;,a7 and inserting 7#ad74 7#bj7 ,principal residence ,section #aba7;b77#c7 is amended-- 7,a7 by striking subparagraph 7,b71 and 7,b7 in subparagraph 7,a71 by striking 7,a7 ,in general4-- and moving the text #b ems to the left4 7#ba7 ,certain reduced uniformed services retirement pay ,section #abb7;b77#a7 is amended by striking after ,december #ca1 #aife14 7#bb7 ,great plains conservation program ,section #abf7;a7 is amended by striking paragraph 7#f7 and by redesignating paragraphs 7#g71 7#h71 7#i71 and 7#aj7 as paragraphs 7#f71 7#g71 7#h71 and 7#i71 respectively4 7#bc7 ,treble damage payments under the antitrust law ,section #afb7;g7 is amended by striking the last sentence4 7#bd7 ,state legislators' travel expenses away from home ,paragraph 7#d7 of section #afb7;h7 is amended by striking ,for taxable years beginning after ,december #ca1 #aihj1 this and inserting ,this4 7#be7 ,interest 7,a7 ,section #afc is amended-- 7i7 by striking paragraph 7#f7 of subsection 7d71 and 7ii7 by striking paragraph 7#e7 of subsection 7h74 7,b7 ,section #ef7;b77#a77;,c7 is amended by striking clause 7ii7 and by redesignating clauses 7iii71 7iv71 and 7v7 as clauses 7ii71 7iii71 and 7iv71 respectively4 7#bf7 ,qualified motor vehicle taxes ,section #afd1 as amended by section #bji7;c7 of this ,act1 is amended by striking subsections 7a77#f7 and 7b77#f74 7#bg7 ,disaster losses 7,a7 ,subsection 7h7 of section #afe is amended by striking paragraph 7#c7 and by redesignating paragraphs 7#d7 and 7#e7 as paragraphs 7#c7 and 7#d71 respectively4 7,b7 ,paragraph 7#c7 of section #afe7;h71 as so redesignated1 is amended by striking paragraphs 7#b7 and 7#c7 and inserting paragraph 7#b74 7,c7 ,subsection 7i7 of section #afe is amended-- 7i7 in paragraph 7#a7-- 7,i7 by striking 7as defined by clause 7ii7 of subsection 7h77#c77;,c771 and 7,,ii7 by striking 7as defined by clause 7i7 of such subsection71 7ii7 by striking 7as defined by subsection 7h77#c77;,c77i7 in paragraph 7#d71 and 7iii7 by adding at the end the following new paragraph3 7#e7 ,federally declared disasters ,for purposes of this subsection-- 7,a7 ,in general ,the term ,federally declared disaster means any disaster subsequently determined by the ,president of the ,united ,states to warrant assistance by the ,federal ,government under the ,robert ,t4 ,stafford ,disaster ,relief and ,emergency ,assistance ,act4 7,b7 ,disaster area ,the term disaster area means the area so determined to warrant such assistance4 4 7,d7 ,section #ajcc7;h77#c7 is amended by striking section #afe7;h77#c77;,c7 and inserting section #afe7;i77#e74 7#bh7 ,charitable1 etc41 contributions and gifts ,section #agj is amended-- 7,a7 by striking paragraph 7#c7 of subsection 7b71 7,b7 by striking paragraph 7#f7 of subsection 7e71 and 7,c7 by striking subsection 7k74 7#bi7 ,amortizable bond premium 7,a7 ,subparagraph 7,b7 of section #aga7;b77#a7 is amended to read as follows3 7,b7 7i7 with reference to the amount payable on maturity 7or if it results in a smaller amortizable bond premium attributable to the period before the call date1 with reference to the amount payable on the earlier call date71 in the case of a bond described in subsection 7a77#a71 and 7ii7 with reference to the amount payable on maturity or on an earlier call date1 in the case of a bond described in subsection 7a77#b74 4 7,b7 ,paragraphs 7#b7 and 7#c77;,b7 of section #aga7;b7 are each amended by striking paragraph 7#a77;,b77ii7 and inserting paragraph 7#a77;,b77i74 7#cj7 ,net operating loss carrybacks1 carryovers1 and carryforwards 7,a7 ,section #agb1 as amended by section #baa7;c77#a77;,b7 of this ,act1 is amended-- 7i7 by striking subparagraphs 7,d71 7,h71 7,i71 and 7,j7 of subsection 7b77#a7 and by redesignating subparagraphs 7,e71 7,f71 and 7,g7 as subparagraphs 7,d71 7,e71 and 7,f71 respectively1 and 7ii7 by striking subsections 7g7 and 7j7 and by redesignating subsections 7h71 7i71 and 7k7 as subsections 7g71 7h71 and 7i71 respectively4 7,b7 ,each of the following provisions of section #agb 7as amended by section #baa7;c77#a77;,b7 of this ,act and as redesignated by subparagraph 7,a77 are amended as follows3 7i7 ,by striking ending after ,august #b1 #aihi in subsection 7b77#a77;,d77i77,,ii74 7ii7 ,by striking subsection 7h7 in subsection 7b77#a77;,d77ii7 and inserting subsection 7g74 7iii7 ,by striking section #afe7;h77#c77;,c77i7 in subsection 7b77#a77;,e77ii77,,ii7 and inserting section #afe7;i77#e74 7iv7 ,by striking subsection 7i7 and all that follows in the last sentence of subsection 7b77#a77;,e77ii7 and inserting subsection 7h7744 7v7 ,by striking subsection 7i7 in subsection 7b77#a77;,f7 and inserting subsection 7h74 7vi7 ,by striking subparagraph 7,f7 of paragraph 7#b7 of subsection 7g74 7vii7 ,by striking subsection 7b77#a77;,e7 each place it appears in subsection 7g77#d7 and inserting subsection 7b77#a77;,d74 7viii7 ,by striking the last sentence of subsection 7h77#a74 7ix7 ,by striking subsection 7b77#a77;,g7 each place it appears in subsection 7h77#c7 and inserting subsection 7b77#a77;,f74 7,c7 ,subsection 7d7 of section #ef is amended by striking paragraph 7#c74 7,d7 ,paragraph 7#e7 of section #chb7l7 is amended by striking subparagraph 7,f7 and by redesignating subparagraphs 7,g7 and 7,h7 as subparagraphs 7,f7 and 7,g71 respectively4 7#ca7 ,research and experimental expenditures ,subparagraph 7,a7 of section #agd7;a77#b7 is amended to read as follows3 7,a7 ,without consent ,a taxpayer may1 without the consent of the ,secretary1 adopt the method provided in this subsection for his first taxable year for which expenditures described in paragraph 7#a7 are paid or incurred4 4 7#cb7 ,amortization of certain research and experimental expenditures ,paragraph 7#b7 of section #agd7;b7 is amended by striking beginning after ,december #ca1 #aiec4 7#cc7 ,soil and water conservation expenditures ,paragraph 7#a7 of section #age7;d7 is amended to read as follows3 7#a7 ,without consent ,a taxpayer may1 without the consent of the ,secretary1 adopt the method provided in this section for the taxpayer's first taxable year for which expenditures described in subsection 7a7 are paid or incurred4 4 7#cd7 ,clean-fuel vehicles 7,a7 ,part ,,vi of subchapter ,a of chapter #a is amended by striking section #agi;,a 7and by striking the item relating to such section in the table of sections for such part74 7,b7 ,section #cj;,c7e7 is amended by adding at the end the following3 7#g7 ,reference ,for purposes of this section1 any reference to section #agi;,a shall be treated as a reference to such section as in effect immediately before its repeal4 4 7,c7 ,section #fb7;a7 is amended by striking paragraph 7#ad74 7,d7 ,section #bfc7;a77#a7 is amended by striking subparagraph 7,h74 7,e7 ,section #bhj;,f7a77#a7 is amended by striking subparagraph 7,c74 7,f7 ,section #cab7k77#c7 is amended by striking #agi;,a1 each place it appears4 7,g7 ,section #ajaf7;a7 is amended by striking paragraph 7#bd74 7,h7 ,section #abde7;a7 is amended by striking #agi;,a1 each place it appears in paragraphs 7#b77;,c7 and 7#c77;,c74 7#ce7 ,qualified disaster expenses ,part ,,vi of subchapter ,a of chapter #a is amended by striking section #aih;,a 7and by striking the item relating to such section in the table of sections for such part74 7#cf7 ,activities not engaged in for profit ,section #ahc7;e77#a7 is amended by striking the last sentence4 7#cg7 ,domestic production activities 7,a7 ,subsection 7a7 of section #aii is amended-- 7i7 by striking paragraph 7#b71 7ii7 by redesignating subparagraphs 7,a7 and 7,b7 of paragraph 7#a7 as paragraphs 7#a7 and 7#b71 respectively1 and by moving paragraphs 7#a7 and 7#b7 7as so redesignated7 #b ems to the left1 and 7iii7 by striking ,allowance of deduction4-- and all that follows through ,there shall be allowed and inserting the following3 7a7 ,allowance of deduction ,there shall be allowed 4 7,b7 ,paragraphs 7#b7 and 7#f77;,b7 of section #aii7;d7 are each amended by striking 7a77#a77;,b7 and inserting 7a77#b74 7#ch7 ,retirement savings 7,a7 ,subparagraph 7,a7 of section #bai7;b77#e7 is amended to read as follows3 7,a7 ,in general ,the deductible amount is #e1jjj4 4 7,b7 ,clause 7ii7 of section #bai7;b77#e77;,b7 is amended to read as follows3 7ii7 ,applicable amount ,for purposes of clause 7i71 the applicable amount is #a1jjj4 4 7,c7 ,paragraph 7#e7 of section #bai7;b7 is amended by striking subparagraph 7,c7 and by redesignating subparagraph 7,d7 as subparagraph 7,c74 7,d7 ,clause 7ii7 of section #bai7;g77#b77;,a7 is amended by striking for a taxable year beginning after ,december #ca1 #bjjf4 7,e7 ,section #bai7;g77#c77;,b7 is amended by striking clauses 7i7 and 7ii7 and inserting the following3 7i7 ,in the case of a taxpayer filing a joint return1 #hj1jjj4 7ii7 ,in the case of any other taxpayer 7other than a married individual filing a separate return71 #ej1jjj4 4 7,f7 ,paragraph 7#h7 of section #bai7;g7 is amended by striking the dollar amount in the last row of the table contained in paragraph 7#c77;,b77i71 the dollar amount in the last row of the table contained in paragraph 7#c77;,b77ii71 and the dollar amount contained in paragraph 7#g77;,a71 and inserting each of the dollar amounts in paragraphs 7#c77;,b77i71 7#c77;,b77ii71 and 7#g77;,a74 7#ci7 ,reports regarding qualified voluntary retirement contributions 7,a7 ,section #bai is amended by striking paragraph 7#d7 of subsection 7f7 and subsection 7h74 7,b7 ,section #ffeb is amended by striking subsection 7g74 7#dj7 ,interest on education loans ,paragraph 7#a7 of section #bba7;b7 is amended by striking shall not exceed and all that follows and inserting shall not exceed #b1ejj44 7#da7 ,dividends received on certain preferred stock2 and dividends paid on certain preferred stock of public utilities 7,a7 ,sections #bdd and #bdg are hereby repealed1 and the table of sections for part ,,viii of subchapter ,b of chapter #a is amended by striking the items relating to sections #bdd and #bdg4 7,b7 ,paragraph 7#e7 of section #agb7;d7 is amended to read as follows3 7#e7 ,computation of deduction for dividends received ,the deductions allowed by section #bdc 7relating to dividends received by corporations7 and #bde 7relating to dividends received from certain foreign corporations7 shall be computed without regard to section #bdf7;b7 7relating to limitation on aggregate amount of deductions74 4 7,c7 ,paragraph 7#a7 of section #bdc7;c7 is amended to read as follows3 7#a7 ,in general ,in the case of any dividend received from a #bj-percent owned corporation1 subsection 7a77#a7 shall be applied by substituting #hj percent for #gj percent4 4 7,d7 ,section #bdc7;d7 is amended by striking paragraph 7#d74 7,e7 ,section #bdf is amended-- 7i7 by striking 1 #bdd1 in subsection 7a77#a71 7ii7 in subsection 7b77#a7-- 7,i7 by striking sections #bdc7;a77#a71 #bdd7;a71 and inserting section #bdc7;a77#a71 7,,ii7 by striking #bdd7;a71 the second place it appears1 and 7,,iii7 by striking subsection 7a7 or 7b7 of section #bde1 and #bdg1 and inserting and subsection 7a7 or 7b7 of section #bde11 and 7iii7 by striking 1 #bdd1 in subsection 7c77#a74 7,f7 ,section #bdf;,a is amended by striking 1 #bdd1 both places it appears in subsections 7a7 and 7e74 7,g7 ,sections #bfc7;g77#b77;,b77iii71 #bgg7;a71 #cja7;e77#b71 #dfi7;e77#d71 #eab7;a77#c77;,a71 subparagraphs 7,a71 7,c71 and 7,d7 of section #hje7;a77#d71 #hje7;b77#e71 #hab7;e77#b77;,a71 #hae7;c77#b77;,a77iii71 #hcb7;b77#e71 #hcc7;b77#c77;,e71 and #ajei7;b77#b77;,b7 are each amended by striking 1 #bdd1 each place it appears4 7,h7 ,section #abdd7;c77#b77;,c7 is amended by striking #bdd14 7,i7 ,section #hje7;a77#d77;,b7 is amended by striking 1 #bdd7;a71 each place it appears4 7,j7 ,section #haj7;c77#b77;,b7 is amended by striking #bdd 7relating to dividends on certain preferred stock of public utilities714 7,k7 ,the amendments made by this paragraph shall not apply to preferred stock issued before ,october #a1 #aidb 7determined in the same manner as under section #bdg of the ,internal ,revenue ,code of #aihf as in effect before its repeal by such amendments74 7#db7 ,organization expenses ,section #bdh7;c7 is amended by striking beginning after ,december #ca1 #aiec1 and by striking the last sentence4 7#dc7 ,bond repurchase premium ,section #bdi7;b77#a7 is amended by striking 1 in the case of bonds or other evidences of indebtedness issued after ,february #bh1 #aiac14 7#dd7 ,amount of gain where loss previously disallowed ,section #bfg7;d7 is amended by striking 7or by reason of section #bd7;b7 of the ,internal ,revenue ,code of #aici7 in paragraph 7#a71 by striking after ,december #ca1 #aiec1 in paragraph 7#b71 by striking the second sentence1 and by striking or by reason of section #aah of the ,internal ,revenue ,code of #aici in the last sentence4 7#de7 ,acquisitions made to evade or avoid income tax ,paragraphs 7#a7 and 7#b7 of section #bfi7;a7 are each amended by striking or acquired on or after ,october #h1 #aidj14 7#df7 ,meals and entertainment ,paragraph 7#c7 of section #bgd7n7 is amended-- 7,a7 by striking 7,a7 ,in general4--1 7,b7 by striking substituting the applicable percentage for and inserting substituting #hj percent for1 and 7,c7 by striking subparagraph 7,b74 7#dg7 ,interest on indebtedness incurred by corporations to acquire stock or assets of another corporation 7,a7 ,section #bgi is amended-- 7i7 by striking after ,december #ca1 #aifg1 in subsection 7a77#b71 7ii7 by striking after ,october #i1 #aifi1 in subsection 7b71 7iii7 by striking after ,october #i1 #aifi1 and in subsection 7d77#e71 and 7iv7 by striking subsection 7i7 and redesignating subsection 7j7 as subsection 7i74 7,b7 ,the amendments made by this paragraph shall not-- 7i7 apply to obligations issued on or before ,october #i1 #aifi 7determined in the same manner as under section #bgi of the ,internal ,revenue ,code of #aihf as in effect before such amendments71 and 7ii7 be construed to require interest on obligations issued on or before ,december #ca1 #aifg1 to be taken into account under section #bgi7;a77#b7 of such ,code 7as in effect after such amendments74 7#dh7 ,bank holding companies 7,a7 ,clause 7iii7 of section #cjd7;b77#c77;,d7 is repealed4 7,b7 ,the heading of subparagraph 7,d7 of section #cjd7;b77#c7 is amended by striking and special rule4 7#di7 ,effect on earnings and profits ,subsection 7d7 of section #cab is amended by striking paragraph 7#b7 and redesignating paragraph 7#c7 as paragraph 7#b74 7#ej7 ,disqualified stock ,paragraph 7#c7 of section #cee7;d7 is amended by striking after ,october #i1 #aiij1 and each place it appears4 7#ea7 ,basis to corporations ,section #cfb is amended by striking on or after ,june #bb1 #aied in subsection 7a7 and by striking 1 on or after ,june #bb1 #aied1 each place it appears in subsection 7c74 7#eb7 ,temporary waiver of minimum required distribution ,section #dja7;a77#i7 is amended by striking subparagraph 7,h74 7#ec7 ,individual retirement accounts ,clause 7i7 of section #djh7p77#b77;,e7 is amended to read as follows3 7i7 ,in general ,for purposes of subparagraph 7,a77ii71 the applicable amount is #aj1jjj4 4 7#ed7 ,tax credit employee stock ownership plans ,section #dji is amended by striking subsection 7q74 7#ee7 ,catch-up contributions ,clauses 7i7 and 7ii7 of section #dad7v77#b77;,b7 are amended to read as follows3 7i7 ,in the case of an applicable employer plan other than a plan described in section #dja7k77#aa7 or #djh7p71 the applicable dollar amount is #e1jjj4 7ii7 ,in the case of an applicable employer plan described in section #dja7k77#aa7 or #djh7p71 the applicable dollar amount is #b1ejj4 4 7#ef7 ,employee stock purchase plans ,section #dbc7;a7 is amended by striking after ,december #ca1 #aifc14 7#eg7 ,pension related transition rules 7,a7 ,section #djb7;g77#a77;,b7 is amended by striking shall be and all that follows and inserting is #ae1jjj44 7,b7 7i7 ,subparagraph 7,d7 of section #dag7;e77#c7 is amended-- 7,i7 by striking clauses 7ii7 and 7iii71 7,,ii7 by striking if-- and all that follows through section #dcj7;h77#b77;,d7 and inserting if section #dcj7;h77#b77;,d71 and 7,,iii7 by striking described in such section1 and inserting described in such section44 7ii7 ,clause 7iii7 of section #bje7;g77#c77;,b7 of the ,employee ,retirement ,income ,security ,act of #aigd 7#bi ,u4,s4,c4 #ajee7;g77#c77;,b77 is amended-- 7,i7 by striking subclauses 7,,ii7 and 7,,iii71 7,,ii7 by striking if-- and all that follows through section #cjc7;h77#b77;,d7 and inserting if section #cjc7;h77#b77;,d71 and 7,,iii7 by striking described in such section1 and inserting described in such section44 7,c7 7i7 ,paragraph 7#e7 of section #dcj7;c7 is amended by striking subparagraph 7,b7 and by striking 7,a7 ,in general4--4 7ii7 ,paragraph 7#e7 of section #cjc7;c7 of the ,employee ,retirement ,income ,security ,act of #aigd 7#bi ,u4,s4,c4 #ajhc7;c77 is amended by striking subparagraph 7,b7 and by striking 7,a7 ,in general4--4 7,d7 7i7 ,paragraph 7#b7 of section #dcj7;h7 is amended by striking subparagraph 7,g74 7ii7 ,paragraph 7#b7 of section #cjc7;h7 of the ,employee ,retirement ,income ,security ,act of #aigd 7#bi ,u4,s4,c4 #ajhc7;h77 is amended by striking subparagraph 7,g74 7,e7 7i7 ,paragraph 7#c7 of section #dcf7;j71 as added by section #aac7;a77#a77;,b7 of the ,pension ,protection ,act of #bjjf1 is amended by striking subparagraphs 7,b7 and 7,c7 and by striking 7,a7 ,in general4--4 7ii7 ,subparagraph 7,c7 of section #bjf7;g77#i7 of the ,employee ,retirement ,income ,security ,act of #aigd 7#bi ,u4,s4,c4 #ajef7;g77#i77 is amended by striking clauses 7ii7 and 7iii7 and by striking 7i7 ,in general4--4 7,f7 7i7 ,section #dcf7;j7 is amended by striking the paragraph 7#c7 added by section #bjc7;a77#b7 of the ,preservation of ,access to ,care for ,medicare ,beneficiaries and ,pension ,relief ,act of #bjaj4 7ii7 ,section #bjf7;g77#i7 of the ,employee ,retirement ,income ,security ,act of #aigd 7#bi ,u4,s4,c4 #ajef7;g77#i77 is amended by striking subparagraph 7,d74 7,g7 7i7 ,section #dcf is amended by striking subsection 7m74 7ii7 ,section #bjf7;g7 of the ,employee ,retirement ,income ,security ,act of #aigd 7#bi ,u4,s4,c4 #ajef7;g77 is amended by striking paragraph 7#aa74 7,h7 ,section #deg7;e77#ae77;,a7 is amended by striking shall be and all that follows and inserting is #ae1jjj44 7#eh7 ,limitation on deductions for certain farming 7,a7 ,section #dfd is amended by striking any farming syndicate 7as defined in subsection 7c77 both places it appears in subsections 7a7 and 7b7 and inserting any taxpayer to whom subsection 7d7 applies4 7,b7 7i7 ,subsection 7c7 of section #dfd is hereby moved to the end of section #dfa and redesignated as subsection 7j74 7ii7 ,such subsection 7j7 is amended-- 7,i7 by striking ,for purposes of this section in paragraph 7#a7 and inserting ,for purposes of subsection 7i77#d71 and 7,,ii7 by adding at the end the following new paragraphs3 7#c7 ,farming ,for purposes of this subsection1 the term farming has the meaning given to such term by section #dfd7;e74 7#d7 ,limited entrepreneur ,for purposes of this subsection1 the term limited entrepreneur means a person who-- 7,a7 has an interest in an enterprise other than as a limited partner1 and 7,b7 does not actively participate in the management of such enterprise4 4 7iii7 ,paragraph 7#d7 of section #dfa7;i7 is amended by striking section #dfd7;c7 and inserting subsection 7j74 7,c7 ,section #dfd is amended-- 7i7 by striking subsections 7e7 and 7g7 and redesignating subsections 7d7 and 7f7 as subsections 7c7 and 7d71 respectively1 and 7ii7 by adding at the end the following new subsection3 7e7 ,farming ,for purposes of this section1 the term farming means the cultivation of land or the raising or harvesting of any agricultural or horticultural commodity including the raising1 shearing1 feeding1 caring for1 training1 and management of animals4 ,for purposes of the preceding sentence1 trees 7other than trees bearing fruit or nuts7 shall not be treated as an agricultural or horticultural commodity4 4 7,d7 ,subsection 7d7 of section #dfd of such ,code 7as redesignated by subparagraph 7,c77 is amended-- 7i7 by striking paragraph 7#a7 and redesignating paragraphs 7#b71 7#c71 and 7#d7 as paragraphs 7#a71 7#b71 and 7#c71 respectively1 and 7ii7 by striking ,subsections 7a7 and 7b7 to apply to in the heading4 7,e7 ,subparagraph 7,a7 of section #eh7;a77#b7 is amended by striking section #dfd7;c7 and inserting section #dfa7;j74 7#ei7 ,deductions limited to amount at risk ,subparagraph 7,a7 of section #dfe7;c77#c7 is amended by striking ,in the case of taxable years beginning after ,december #ca1 #aigh1 this and inserting ,this4 7#fj7 ,passive activity losses and credits limited 7,a7 ,section #dfi is amended by striking subsection 7m74 7,b7 ,subsection 7b7 of section #eh is amended by adding and at the end of paragraph 7#a71 by striking paragraph 7#b71 and by redesignating paragraph 7#c7 as paragraph 7#b74 7#fa7 ,adjustments required by changes in method of accounting ,section #dha7;b77#c7 is amended by striking subparagraph 7,c74 7#fb7 ,exemption from tax on corporations1 certain trusts1 etc ,section #eja is amended by striking subsection 7s74 7#fc7 ,requirements for exemption 7,a7 ,section #ejc7;a77#a7 is amended to read as follows3 7#a7 ,general rule ,an organization described in paragraph 7#ag7 or 7#ah7 of section #eja7;c71 or described in section #dja7;a7 and referred to in section #dige7;g7 7#b7 or 7#c71 shall not be exempt from taxation under section #eja7;a7 if it has engaged in a prohibited transaction4 4 7,b7 ,paragraph 7#b7 of section #ejc7;a7 is amended by striking described in section #eja7;c77#ag7 or 7#ah7 or paragraph 7a77#a77;,b7 and inserting described in paragraph 7#a74 7,c7 ,subsection 7c7 of section #ejc is amended by striking described in section #eja7;c77#ag7 or 7#ah7 or subsection 7a77#a77;,b7 and inserting described in subsection 7a77#a74 7#fd7 ,accumulated taxable income ,paragraph 7#a7 of section #ece7;b7 and paragraph 7#a7 of section #ede7;b7 are each amended by striking section #eca and all that follows and inserting section #eca or the personal holding company tax imposed by section #eda44 7#fe7 ,definition of property ,subsection 7b7 of section #fad is amended-- 7,a7 by striking paragraphs 7#c77;,c7 and 7#e71 and 7,b7 in paragraph 7#d71 by striking whichever of the following years is later3 ,the first taxable year beginning after ,december #ca1 #aifc1 or 4 7#ff7 ,amounts received by surviving annuitant under joint and survivor annuity contract ,subparagraph 7,a7 of section #fia7;d77#a7 is amended by striking after ,december #ca1 #aiec1 and4 7#fg7 ,income taxes of members of armed forces on death ,section #fib7;a77#a7 is amended by striking after ,june #bd1 #aiej4 7#fh7 ,special rules for computing reserves ,paragraph 7#g7 of section #hjg7;e7 is amended by striking subparagraph 7,b7 and redesignating subparagraph 7,c7 as subparagraph 7,b74 7#fi7 ,insurance company taxable income 7,a7 ,section #hcb7;e7 is amended by striking of taxable years beginning after ,december #ca1 #aiff14 7,b7 ,section #hcb7;e77#f7 is amended by striking ,in the case of any taxable year beginning after ,december #ca1 #aigj1 the and inserting ,the4 7#gj7 ,capitalization of certain policy acquisition expenses ,section #hdh is amended by striking subsection 7j74 7#ga7 ,tax on nonresident alien individuals ,subparagraph 7,b7 of section #hga7;a77#a7 is amended to read as follows3 7,b7 gains described in subsection 7b7 or 7c7 of section #fca1 4 7#gb7 ,limitation on credit ,paragraph 7#b7 of section #ijd7;d7 is amended by striking subparagraph 7,j74 7#gc7 ,foreign earned income ,clause 7i7 of section #iaa7;b77#b77;,d7 is amended to read as follows3 7i7 ,in general ,the exclusion amount for any calendar year is #hj1jjj4 4 7#gd7 ,basis of property acquired from decedent 7,a7 ,section #ajad7;a77#b7 is amended to read as follows3 7#b7 in the case of an election under section #bjcb1 its value at the applicable valuation date prescribed by such section1 4 7,b7 ,section #ajad7;b7 is amended by striking paragraphs 7#g7 and 7#h74 7#ge7 ,adjusted basis ,section #ajaf7;a7 is amended by striking paragraph 7#ab74 7#gf7 ,property on which lessee has made improvements ,section #ajai is amended by striking the last sentence4 7#gg7 ,involuntary conversion ,section #ajcc is amended by striking subsection 7j7 and by redesignating subsections 7k7 and 7l7 as subsections 7j7 and 7k71 respectively4 7#gh7 ,property acquired during affiliation ,section #ajea is hereby repealed1 and the table of sections for part ,,iv of subchapter ,o of chapter #a is amended by striking the item relating to section #ajea4 7#gi7 ,capital gains and losses ,section #abbb is amended by striking the last sentence4 7#hj7 ,holding period of property 7,a7 ,paragraph 7#a7 of section #abbc is amended by striking after ,march #a1 #aied14 7,b7 ,paragraph 7#d7 of section #abbc is amended by striking 7or under so much of section #ajeb7;c7 as refers to section #aac7;a77#bc7 of the ,internal ,revenue ,code of #aici74 7,c7 ,paragraphs 7#f7 and 7#h7 of section #abbc are repealed4 7#ha7 ,property used in the trade or business and involuntary conversions ,subparagraph 7,a7 of section #abca7;c77#b7 is amended by striking beginning after ,december #ca1 #aiha4 7#hb7 ,sale or exchange of patents ,section #abce is amended-- 7,a7 by striking subsection 7c7 and by redesignating subsections 7d7 and 7e7 as subsections 7c7 and 7d71 respectively1 and 7,b7 by striking subsection 7d7 in subsection 7b77#b77;,b7 and inserting subsection 7c74 7#hc7 ,dealers in securities ,subsection 7b7 of section #abcf is amended by striking after ,november #ai1 #aiea14 7#hd7 ,sale of patents ,subsection 7a7 of section #abdi is amended by striking after ,december #ca1 #aifb14 7#he7 ,gain from disposition of farmland ,paragraph 7#a7 of section #abeb7;a7 is amended-- 7,a7 by striking after ,december #ca1 #aifi the first place it appears1 and 7,b7 by striking after ,december #ca1 #aifi1 in subparagraph 7,a74 7#hf7 ,treatment of amounts received on retirement or sale or exchange of debt instruments ,subsection 7c7 of section #abga is amended to read as follows3 7c7 ,special rule for certain obligations with respect to which original issue discount not currently includible 7#a7 ,in general ,on the sale or exchange of debt instruments issued by a government or political subdivision thereof after ,december #ca1 #aied1 and before ,july #b1 #aihb1 or by a corporation after ,december #ca1 #aied1 and on or before ,may #bg1 #aifi1 any gain realized which does not exceed-- 7,a7 an amount equal to the original issue discount1 or 7,b7 if at the time of original issue there was no intention to call the debt instrument before maturity1 an amount which bears the same ratio to the original issue discount as the number of complete months that the debt instrument was held by the taxpayer bears to the number of complete months from the date of original issue to the date of maturity1 shall be considered as ordinary income4 7#b7 ,subsection 7a77#b77;,a7 not to apply ,subsection 7a77#b77;,a7 shall not apply to any debt instrument referred to in paragraph 7#a7 of this subsection4 7#c7 ,cross reference ,for current inclusion of original issue discount1 see section #abgb4 4 7#hg7 ,amount and method of adjustment ,section #acad is amended by striking subsection 7d7 and by redesignating subsection 7e7 as subsection 7d74 7#hh7 ,election2 revocation2 termination ,clause 7iii7 of section #acfb7;d77#c77;,a7 is amended by striking unless and all that follows and inserting unless the corporation was an ,s corporation for such taxable year44 7#hi7 ,old-age1 survivors1 and disability insurance ,subsection 7a7 of section #adja is amended by striking the following percent and all that follows and inserting #ab4d percent of the amount of the self-employment income for such taxable year44 7#ij7 ,hospital insurance ,paragraph 7#a7 of section #adja7;b7 is amended by striking3 the following percent and all that follows and inserting #b4i percent of the amount of the self-employment income for such taxable year44 7#ia7 ,ministers1 members of religious orders1 and christian science practitioners ,paragraph 7#c7 of section #adjb7;e7 is amended-- 7,a7 by striking whichever of the following dates is later3 7,a71 and 7,b7 by striking 2or 7,b7' and all that follows and inserting a period4 7#ib7 ,withholding of tax on nonresident aliens ,the first sentence of subsection 7b7 of section #adda and the first sentence of paragraph 7#e7 of section #adda7;c7 are each amended by striking gains subject to tax and all that follows through ,october #d1 #aiff and inserting and gains subject to tax under section #hga7;a77#a77;,d74 7#ic7 ,affiliated group defined ,subparagraph 7,a7 of section #aejd7;a77#c7 is amended by striking for a taxable year which includes any period after ,december #ca1 #aihd in clause 7i7 and by striking in a taxable year beginning after ,december #ca1 #aihd in clause 7ii74 7#id7 ,disallowance of the benefits of the graduated corporate rates and accumulated earnings credit 7,a7 ,subsection 7a7 of section #aeea is amended-- 7i7 by striking paragraph 7#a7 and by redesignating paragraphs 7#b7 and 7#c7 as paragraphs 7#a7 and 7#b71 respectively1 and 7ii7 by striking after ,june #ab1 #aifc1 each place it appears4 7,b7 ,section #aeea7;b7 is amended-- 7i7 by striking or 7#b7 in paragraph 7#a71 and 7ii7 by striking 7a77#c7 in paragraph 7#b7 and inserting 7a77#b74 7#ie7 ,credit for state death taxes 7,a7 7i7 ,part ,,ii of subchapter ,a of chapter #aa is amended by striking section #bjaa 7and by striking the item relating to such section in the table of sections for such subpart74 7ii7 ,section #bajf7;a77#d7 is amended by striking section #bjaa7;a7 and inserting #bjeh7;a74 7,b7 7i7 ,subchapter ,a of chapter #ac is amended by striking section #bfjd 7and by striking the item relating to such section in the table of sections for such subpart74 7ii7 ,clause 7ii7 of section #afd7;b77#d77;,a7 is amended by inserting 7as in effect before its repeal7 after section #bfjd4 7iii7 ,section #bfed7;a77#a7 is amended by striking 7computed without regard to section #bfjd74 7#if7 ,gross estate ,subsection 7c7 of section #bjca is amended by striking paragraph 7#c7 and by amending paragraph 7#a77;,b7 to read as follows3 7,,ii7 #ejj1jjj4 4 7#ig7 7,a7 ,part ,,iv of subchapter ,a of chapter #aa is amended by striking section #bjeg 7and by striking the item relating to such section in the table of sections for such subpart74 7,b7 ,paragraph 7#aj7 of section #bjca7;c7 is amended by inserting 7as in effect before its repeal7 immediately before the period at the end thereof4 7#ih7 ,property within the ,united ,states ,subsection 7c7 of section #bajd is amended by striking ,with respect to estates of decedents dying after ,december #ca1 #aifi1 deposits and inserting ,deposits4 7#ii7 ,,fica taxes 7,a7 ,subsection 7a7 of section #caja is amended by striking the following percentages and all that follows and inserting #f4b percent of the wages 7as defined in section #caba7;a77 received by the individual with respect to employment 7as defined in section #caba7;b774 7,b7 7i7 ,subsection 7a7 of section #caaa is amended by striking the following percentages and all that follows and inserting #f4b percent of the wages 7as defined in section #caba7;a77 paid by the employer with respect to employment 7as defined in section #caba7;b7744 7ii7 ,subsection 7b7 of section #caaa is amended by striking the following percentages and all that follows and inserting #a4de percent of the wages 7as defined in section #caba7;a77 paid by the employer with respect to employment 7as defined in section #caba7;b7744 7,c7 7i7 ,section #caba7;b7 is amended by striking paragraph 7#ag74 7ii7 ,section #baj7;a7 of the ,social ,security ,act is amended by striking paragraph 7#ag74 7#ajj7 ,railroad retirement 7,a7 ,subsection 7b7 of section #cbja is amended to read as follows3 7b7 ,tier #b tax ,in addition to other taxes1 there is hereby imposed on the income of each employee a tax equal to the percentage determined under section #cbda for any calendar year of the compensation received during such calendar year by such employee for services rendered by such employee4 4 7,b7 ,subsection 7b7 of section #cbaa is amended to read as follows3 7b7 ,tier #b tax ,in addition to other taxes1 there is hereby imposed on the income of each employee representative a tax equal to the percentage determined under section #cbda for any calendar year of the compensation received during such calendar year by such employee representative for services rendered by such employee representative4 4 7,c7 ,subsection 7b7 of section #cbba is amended to read as follows3 7b7 ,tier #b tax ,in addition to other taxes1 there is hereby imposed on every employer an excise tax1 with respect to having individuals in his employ1 equal to the percentage determined under section #cbda for any calendar year of the compensation paid during such calendar year by such employer for services rendered to such employer4 4 7,d7 ,subsection 7b7 of section #cbca is amended-- 7i7 by striking compensation2 except and all that follows in the first sentence and inserting compensation41 and 7ii7 by striking the second sentence4 7#aja7 ,credits against ,federal unemployment tax 7,a7 ,paragraph 7#d7 of section #ccjb7;f7 is amended-- 7i7 by striking subsection-- and all that follows through 7,a7 ,in general4--,the and inserting subsection1 the1 7ii7 by striking subparagraph 7,b71 7iii7 by redesignating clauses 7i7 and 7ii7 as subparagraphs 7,a7 and 7,b71 respectively1 and 7iv7 by moving the text of such subparagraphs 7as so redesignated7 #b ems to the left4 7,b7 ,paragraph 7#e7 of section #ccjb7;f7 is amended by striking subparagraph 7,d7 and by redesignating subparagraph 7,e7 as subparagraph 7,d74 7#ajb7 ,domestic service employment taxes ,section #ceaj7;b7 is amended by striking paragraph 7#d74 7#ajc7 ,luxury passenger automobiles 7,a7 ,chapter #ca is amended by striking subchapter ,a 7and by striking the item relating to such subchapter in the table of subchapters for such chapter74 7,b7 7i7 ,section #dbba is amended-- 7,i7 in subsections 7a7 and 7d77#a71 by striking subchapter ,a or and inserting subchapter1 7,,ii7 in subsection 7a71 by striking ,in the case of taxes imposed by subchapter ,a of chapter #ca1 paragraphs 7#a71 7#c71 7#d71 and 7#e7 shall not apply41 and 7,,iii7 in subsection 7c71 by striking #djja7;c71 #djja7;d71 or4 7ii7 ,section #dbbb is amended by striking #djja7;c71 #djja7;d714 7iii7 ,section #dbic is amended by striking subchapter ,a of chapter #ca14 7#ajd7 ,transportation by air ,section #dbfa7;e7 is amended-- 7,a7 in paragraph 7#a71 by striking subparagraph 7,c71 and 7,b7 by striking paragraph 7#e74 7#aje7 ,taxes on failure to distribute income 7,a7 ,subsection 7g7 of section #didb is amended by striking ,for all taxable years beginning on or after ,january #a1 #aige1 subject in paragraph 7#b77;,a7 and inserting ,subject4 7,b7 ,section #didb7;i77#b7 is amended by striking beginning after ,december #ca1 #aifi1 and4 7#ajf7 ,taxes on taxable expenditures ,section #dide7;f7 is amended by striking 7excluding therefrom any preceding taxable year which begins before ,january #a1 #aigj74 7#ajg7 ,definitions and special rules ,section #dfhb7;h7 is amended-- 7,a7 by striking paragraph 7#a7 and redesignating paragraphs 7#b71 7#c71 and 7#d7 as paragraphs 7#a71 7#b71 and 7#c71 respectively1 and 7,b7 in paragraph 7#a7 7as so redesignated7-- 7i7 by striking the heading and inserting ,in general1 and 7ii7 by striking after #aiia in subparagraph 7,c74 7#ajh7 ,returns ,subsection 7a7 of section #fjci;,d is amended by striking beginning after ,december #ca1 #aihd14 7#aji7 ,information returns ,subsection 7c7 of section #fjfj is amended by striking year and all that follows and inserting year44 7#aaj7 ,collection ,section #fcjb is amended-- 7,a7 in subsection 7e77#b71 by striking imposed by and all that follows through with respect to and inserting imposed by sections #dbea1 #dbfa1 or #dbga with respect to1 7,b7 by striking the last sentence of subsection 7f77#a71 and 7,c7 in subsection 7h7-- 7i7 by striking paragraph 7#b7 and redesignating paragraphs 7#c7 and 7#d7 as paragraphs 7#b7 and 7#c71 respectively1 and 7ii7 by amending paragraph 7#c7 7as so redesignated7 to read as follows3 7#c7 ,coordination with other electronic fund transfer requirements ,under regulations1 any tax required to be paid by electronic fund transfer under section #ejfa7;e7 or #egjc7;b7 shall be paid in such a manner as to ensure that the requirements of the second sentence of paragraph 7#a77;,a7 of this subsection are satisfied4 4 7#aaa7 ,abatements ,section #fdjd7;f7 is amended by striking paragraph 7#c74 7#aab7 #bjjh ,recovery rebate for individuals 7,a7 ,subchapter ,b of chapter #fe is amended by striking section #fdbh 7and by striking the item relating to such section in the table of sections for such subchapter74 7,b7 ,subparagraph 7,a7 of section #fbaa7;b77#d7 is amended by striking #fdbh14 7,c7 ,paragraph 7#b7 of section #fbac7;g71 as amended by section #bad7;a77#b7 of this ,act and paragraphs 7#d7 and 7#e77;,c7 of this subsection1 is amended by striking subparagraph 7,q71 by redesignating subparagraph 7,o7 as subparagraph 7,n71 by inserting and at the end of subparagraph 7,m71 and by striking the comma at the end of subparagraph 7,n7 7as so redesignated7 and inserting a period4 7,d7 ,paragraph 7#b7 of section #acbd7;b7 of title #ca1 ,united ,states ,code1 is amended by striking #fdbh1 or #fdca1 and inserting or #fdca4 7#aac7 ,advance payment of portion of increased child credit for #bjjc ,subchapter ,b of chapter #fe is amended by striking section #fdbi 7and by striking the item relating to such section in the table of sections for such subchapter74 7#aad7 ,failure by corporation to pay estimated income tax ,clause 7i7 of section #ffee7;g77#d77;,a7 is amended by striking 7or the corresponding provisions of prior law74 7#aae7 ,retirement ,section #gddg7;i77#c77;,b77ii7 is amended by striking at #d percent per annum to ,december #ca1 #aidg1 and #c percent per annum thereafter1 and inserting at #c percent per annum4 7#aaf7 ,annuities to surviving spouses and dependent children of judges 7,a7 ,paragraph 7#b7 of section #gddh7;a7 is amended-- 7i7 by striking or under section #aajf of the ,internal ,revenue ,code of #aici1 and 7ii7 by striking or pursuant to section #aajf7;d7 of the ,internal ,revenue ,code of #aici4 7,b7 ,subsection 7g7 of section #gddh is amended by striking or other than pursuant to section #aajf of the ,internal ,revenue ,code of #aici4 7,c7 ,subsections 7g71 7j77#a71 and 7j77#b7 of section #gddh are each amended by striking at #d percent per annum to ,december #ca1 #aidg1 and #c percent per annum thereafter and inserting at #c percent per annum4 7#aag7 ,merchant marine capital construction funds ,paragraph 7#d7 of section #geah7;g7 is amended by striking any nonqualified withdrawal and all that follows through #8shall be determined and inserting any nonqualified withdrawal shall be determined4 7#aah7 ,valuation tables 7,a7 ,subsection 7c7 of section #gebj is amended by striking paragraph 7#b7 and redesignating paragraph 7#c7 as paragraph 7#b74 7,b7 ,paragraph 7#b7 of section #gebj7;c7 7as redesignated by subparagraph 7,a77 is amended-- 7i7 by striking ,not later than ,december #ca1 #aihi1 the and inserting ,the1 and 7ii7 by striking thereafter in the last sentence thereof4 7#aai7 ,definition of employee ,section #ggja7;a77#bj7 is amended by striking chapter #ba and all that follows and inserting chapter #ba44 7b7 ,effective date 7#a7 ,general rule ,except as otherwise provided in subsection 7a7 or paragraph 7#b7 of this subsection1 the amendments made by this section shall take effect on the date of enactment of this ,act4 7#b7 ,savings provision ,if-- 7,a7 any provision amended or repealed by the amendments made by this section applied to-- 7i7 any transaction occurring before the date of the enactment of this ,act1 7ii7 any property acquired before such date of enactment1 or 7iii7 any item of income1 loss1 deduction1 or credit taken into account before such date of enactment1 and 7,b7 the treatment of such transaction1 property1 or item under such provision would 7without regard to the amendments or repeals made by this section7 affect the liability for tax for periods ending after date of enactment1 nothing in the amendments or repeals made by this section shall be construed to affect the treatment of such transaction1 property1 or item for purposes of determining liability for tax for periods ending after such date of enactment4 ,,iii ,joint ,committee on ,taxation #cja4 ,increased refund and credit threshold for ,joint ,committee on ,taxation review of ,c corporation return 7a7 ,in general ,subsections 7a7 and 7b7 of section #fdje are each amended by inserting 7#e1jjj1jjj in the case of a ,c corporation7 after #b1jjj1jjj4 7b7 ,effective date ,the amendment made by this section shall take effect on the date of the enactment of this ,act1 except that such amendment shall not apply with respect to any refund or credit with respect to a report that has been made before such date under section #fdje of the ,internal ,revenue ,code of #aihf4 ,,iv ,budgetary effects #dja4 ,budgetary effects 7a7 ,paygo scorecard ,the budgetary effects of this ,act shall not be entered on either ,,paygo scorecard maintained pursuant to section #d7;d7 of the ,statutory ,pay-,as-,you-,go ,act of #bjaj4 7b7 ,senate paygo scorecard ,the budgetary effects of this ,act shall not be entered on any ,,paygo scorecard maintained for purposes of section #bja of ,s4 ,con4 ,res4 #ba 7#aajth ,congress74 ,b ,achieving a ,better ,life ,experience ,act of #bjad #a4 ,short title2 etc 7a7 ,short title ,this division may be cited as the ,achieving a ,better ,life ,experience ,act of #bjad or the ,,able ,act of #bjad4 7b7 ,amendment of #aihf ,code ,except as otherwise expressly provided1 whenever in this ,act an amendment or repeal is expressed in terms of an amendment to1 or repeal of1 a section or other provision1 the reference shall be considered to be made to a section or other provision of the ,internal ,revenue ,code of #aihf4 ,i ,qualified ,able ,programs #aja4 ,purposes ,the purposes of this title are as follows3 7#a7 ,to encourage and assist individuals and families in saving private funds for the purpose of supporting individuals with disabilities to maintain health1 independence1 and quality of life4 7#b7 ,to provide secure funding for disability-related expenses on behalf of designated beneficiaries with disabilities that will supplement1 but not supplant1 benefits provided through private insurance1 the ,medicaid program under title ,,xix of the ,social ,security ,act1 the supplemental security income program under title ,,xvi of such ,act1 the beneficiary's employment1 and other sources4 #ajb4 ,qualified ,,able programs 7a7 ,in general ,subchapter ,f of chapter #a is amended by inserting after section #ebi the following new section3 #ebi;,a4 ,qualified ,,able programs 7a7 ,general rule ,a qualified ,,able program shall be exempt from taxation under this subtitle4 ,notwithstanding the preceding sentence1 such program shall be subject to the taxes imposed by section #eaa 7relating to imposition of tax on unrelated business income of charitable organizations74 7b7 ,qualified ,,able program ,for purposes of this section-- 7#a7 ,in general ,the term qualified ,,able program means a program established and maintained by a ,state1 or agency or instrumentality thereof-- 7,a7 under which a person may make contributions for a taxable year1 for the benefit of an individual who is an eligible individual for such taxable year1 to an ,,able account which is established for the purpose of meeting the qualified disability expenses of the designated beneficiary of the account1 7,b7 which limits a designated beneficiary to #a ,,able account for purposes of this section1 7,c7 which allows for the establishment of an ,,able account only for a designated beneficiary who is a resident of such ,state or a resident of a contracting ,state1 and 7,d7 which meets the other requirements of this section4 7#b7 ,cash contributions ,a program shall not be treated as a qualified ,,able program unless it provides that no contribution will be accepted-- 7,a7 unless it is in cash1 or 7,b7 except in the case of contributions under subsection 7c77#a77;,c71 if such contribution to an ,,able account would result in aggregate contributions from all contributors to the ,,able account for the taxable year exceeding the amount in effect under section #bejc7;b7 for the calendar year in which the taxable year begins4 ,for purposes of this paragraph1 rules similar to the rules of section #djh7;d77#d7 7determined without regard to subparagraph 7,b7 thereof7 shall apply4 7#c7 ,separate accounting ,a program shall not be treated as a qualified ,,able program unless it provides separate accounting for each designated beneficiary4 7#d7 ,limited investment direction ,a program shall not be treated as a qualified ,,able program unless it provides that any designated beneficiary under such program may1 directly or indirectly1 direct the investment of any contributions to the program 7or any earnings thereon7 no more than #b times in any calendar year4 7#e7 ,no pledging of interest as security ,a program shall not be treated as a qualified ,,able program if it allows any interest in the program or any portion thereof to be used as security for a loan4 7#f7 ,prohibition on excess contributions ,a program shall not be treated as a qualified ,,able program unless it provides adequate safeguards to prevent aggregate contributions on behalf of a designated beneficiary in excess of the limit established by the ,state under section #ebi7;b77#f74 ,for purposes of the preceding sentence1 aggregate contributions include contributions under any prior qualified ,,able program of any ,state or agency or instrumentality thereof4 7c7 ,tax treatment 7#a7 ,distributions 7,a7 ,in general ,any distribution under a qualified ,,able program shall be includible in the gross income of the distributee in the manner as provided under section #gb to the extent not excluded from gross income under any other provision of this chapter4 7,b7 ,distributions for qualified disability expenses ,for purposes of this paragraph1 if distributions from a qualified ,,able program-- 7i7 do not exceed the qualified disability expenses of the designated beneficiary1 no amount shall be includible in gross income1 and 7ii7 in any other case1 the amount otherwise includible in gross income shall be reduced by an amount which bears the same ratio to such amount as such expenses bear to such distributions4 7,c7 ,change in designated beneficiaries or programs 7i7 ,rollovers from ,,able accounts ,subparagraph 7,a7 shall not apply to any amount paid or distributed from an ,,able account to the extent that the amount received is paid1 not later than the #fjth day after the date of such payment or distribution1 into another ,,able account for the benefit of the same designated beneficiary or an eligible individual who is a family member of the designated beneficiary4 7ii7 ,change in designated beneficiaries ,any change in the designated beneficiary of an interest in a qualified ,,able program during a taxable year shall not be treated as a distribution for purposes of subparagraph 7,a7 if the new beneficiary is an eligible individual for such taxable year and a member of the family of the former beneficiary4 7iii7 ,limitation on certain rollovers ,clause 7i7 shall not apply to any transfer if such transfer occurs within #ab months from the date of a previous transfer to any qualified ,,able program for the benefit of the designated beneficiary4 7,d7 ,operating rules ,for purposes of applying section #gb-- 7i7 except to the extent provided by the ,secretary1 all distributions during a taxable year shall be treated as one distribution1 and 7ii7 except to the extent provided by the ,secretary1 the value of the contract1 income on the contract1 and investment in the contract shall be computed as of the close of the calendar year in which the taxable year begins4 7#b7 ,gift tax rules ,for purposes of chapters #ab and #ac-- 7,a7 ,contributions ,any contribution to a qualified ,,able program on behalf of any designated beneficiary-- 7i7 shall be treated as a completed gift to such designated beneficiary which is not a future interest in property1 and 7ii7 shall not be treated as a qualified transfer under section #bejc7;e74 7,b7 ,treatment of distributions ,in no event shall a distribution from an ,,able account to such account's designated beneficiary be treated as a taxable gift4 7,c7 ,treatment of transfer to new designated beneficiary ,the taxes imposed by chapters #ab and #ac shall not apply to a transfer by reason of a change in the designated beneficiary under subsection 7c77#a77;,c74 7#c7 ,additional tax for distributions not used for disability expenses 7,a7 ,in general ,the tax imposed by this chapter for any taxable year on any taxpayer who receives a distribution from a qualified ,,able program which is includible in gross income shall be increased by #aj percent of the amount which is so includible4 7,b7 ,exception ,subparagraph 7,a7 shall not apply if the payment or distribution is made to a beneficiary 7or to the estate of the designated beneficiary7 on or after the death of the designated beneficiary4 7,c7 ,contributions returned before certain date ,subparagraph 7,a7 shall not apply to the distribution of any contribution made during a taxable year on behalf of the designated beneficiary if-- 7i7 such distribution is received on or before the day prescribed by law 7including extensions of time7 for filing such designated beneficiary's return for such taxable year1 and 7ii7 such distribution is accompanied by the amount of net income attributable to such excess contribution4 ,any net income described in clause 7ii7 shall be included in gross income for the taxable year in which such excess contribution was made4 7#d7 ,loss of ,,able account treatment ,if an ,,able account is established for a designated beneficiary1 no account subsequently established for such beneficiary shall be treated as an ,,able account4 ,the preceding sentence shall not apply in the case of an account established for purposes of a rollover described in paragraph 7#a77;,c77i7 of this section if the transferor account is closed as of the end of the #fjth day referred to in paragraph 7#a77;,c77i74 7d7 ,reports 7#a7 ,in general ,each officer or employee having control of the qualified ,,able program or their designee shall make such reports regarding such program to the ,secretary and to designated beneficiaries with respect to contributions1 distributions1 the return of excess contributions1 and such other matters as the ,secretary may require4 7#b7 ,certain aggregated information ,for research purposes1 the ,secretary shall make available to the public reports containing aggregate information1 by diagnosis and other relevant characteristics1 on contributions and distributions from the qualified ,,able program4 ,in carrying out the preceding sentence an item may not be made available to the public if such item can be associated with1 or otherwise identify1 directly or indirectly1 a particular individual4 7#c7 ,notice of establishment of ,,able account ,a qualified ,,able program shall submit a notice to the ,secretary upon the establishment of an ,,able account4 ,such notice shall contain the name and ,state of residence of the designated beneficiary and such other information as the ,secretary may require4 7#d7 ,electronic distribution statements ,for purposes of section #d of the ,achieving a ,better ,life ,experience ,act of #bjad1 ,states shall submit electronically on a monthly basis to the ,commissioner of ,social ,security1 in the manner specified by the ,commissioner1 statements on relevant distributions and account balances from all ,,able accounts4 7#e7 ,requirements ,the reports and notices required by paragraphs 7#a71 7#b71 and 7#c7 shall be filed at such time and in such manner and furnished to such individuals at such time and in such manner as may be required by the ,secretary4 7e7 ,other definitions and special rules ,for purposes of this section-- 7#a7 ,eligible individual ,an individual is an eligible individual for a taxable year if during such taxable year-- 7,a7 the individual is entitled to benefits based on blindness or disability under title ,,ii or ,,xvi of the ,social ,security ,act1 and such blindness or disability occurred before the date on which the individual attained age #bf1 or 7,b7 a disability certification with respect to such individual is filed with the ,secretary for such taxable year4 7#b7 ,disability certification 7,a7 ,in general ,the term disability certification means1 with respect to an individual1 a certification to the satisfaction of the ,secretary by the individual or the parent or guardian of the individual that-- 7i7 certifies that-- 7,i7 the individual has a medically determinable physical or mental impairment1 which results in marked and severe functional limitations1 and which can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than #ab months1 or is blind 7within the meaning of section #afad7;a77#b7 of the ,social ,security ,act71 and 7,,ii7 such blindness or disability occurred before the date on which the individual attained age #bf1 and 7ii7 includes a copy of the individual's diagnosis relating to the individual's relevant impairment or impairments1 signed by a physician meeting the criteria of section #ahfa7r77#a7 of the ,social ,security ,act4 7,b7 ,restriction on use of certification ,no inference may be drawn from a disability certification for purposes of establishing eligibility for benefits under title ,,ii1 ,,xvi1 or ,,xix of the ,social ,security ,act4 7#c7 ,designated beneficiary ,the term designated beneficiary in connection with an ,,able account established under a qualified ,,able program means the eligible individual who established an ,,able account and is the owner of such account4 7#d7 ,member of family ,the term member of the family means1 with respect to any designated beneficiary1 an individual who bears a relationship to such beneficiary which is described in subparagraph section #aeb7;d77#b77;,b74 ,for purposes of the preceding sentence1 a rule similar to the rule of section #aeb7;f77#a77;,b7 shall apply4 7#e7 ,qualified disability expenses ,the term qualified disability expenses means any expenses related to the eligible individual's blindness or disability which are made for the benefit of an eligible individual who is the designated beneficiary1 including the following expenses3 education1 housing1 transportation1 employment training and support1 assistive technology and personal support services1 health1 prevention and wellness1 financial management and administrative services1 legal fees1 expenses for oversight and monitoring1 funeral and burial expenses1 and other expenses1 which are approved by the ,secretary under regulations and consistent with the purposes of this section4 7#f7 ,,able account ,the term ,,able account means an account established by an eligible individual1 owned by such eligible individual1 and maintained under a qualified ,,able program4 7#g7 ,contracting ,state ,the term contracting ,state means a ,state without a qualified ,,able program which has entered into a contract with a ,state with a qualified ,,able program to provide residents of the contracting ,state access to a qualified ,,able program4 7f7 ,transfer to ,state ,subject to any outstanding payments due for qualified disability expenses1 upon the death of the designated beneficiary1 all amounts remaining in the qualified ,,able account not in excess of the amount equal to the total medical assistance paid for the designated beneficiary after the establishment of the account1 net of any premiums paid from the account or paid by or on behalf of the beneficiary to a ,medicaid ,buy-,in program under any ,state ,medicaid plan established under title ,,xix of the ,social ,security ,act1 shall be distributed to such ,state upon filing of a claim for payment by such ,state4 ,for purposes of this paragraph1 the ,state shall be a creditor of an ,,able account and not a beneficiary4 ,subsection 7c77#c7 shall not apply to a distribution under the preceding sentence4 7g7 ,regulations ,the ,secretary shall prescribe such regulations or other guidance as the ,secretary determines necessary or appropriate to carry out the purposes of this section1 including regulations-- 7#a7 to enforce the #a ,,able account per eligible individual limit1 7#b7 providing for the information required to be presented to open an ,,able account1 7#c7 to generally define qualified disability expenses1 7#d7 developed in consultation with the ,commissioner of ,social ,security1 relating to disability certifications and determinations of disability1 including those conditions deemed to meet the requirements of subsection 7e77#a77;,b71 7#e7 to prevent fraud and abuse with respect to amounts claimed as qualified disability expenses1 7#f7 under chapters #aa1 #ab1 and #ac of this title1 and 7#g7 to allow for transfers from one ,,able account to another ,,able account4 4 7b7 ,tax on excess contributions 7#a7 ,in general ,subsection 7a7 of section #digc 7relating to tax on excess contributions to certain tax-favored accounts and annuities7 is amended by striking or at the end of paragraph 7#d71 by inserting or at the end of paragraph 7#e71 and by inserting after paragraph 7#e7 the following new paragraph3 7#f7 an ,,able account 7within the meaning of section #ebi;,a71 4 7#b7 ,excess contribution ,section #digc is amended by adding at the end the following new subsection3 7h7 ,excess contributions to ,,able account ,for purposes of this section-- 7#a7 ,in general ,in the case of an ,,able account 7within the meaning of section #ebi;,a71 the term excess contributions means the amount by which the amount contributed for the taxable year to such account 7other than contributions under section #ebi;,a7c77#a77;,c77 exceeds the contribution limit under section #ebi;,a7b77#b77;,b74 7#b7 ,special rule ,for purposes of this subsection1 any contribution which is distributed out of the ,,able account in a distribution to which the last sentence of section #ebi;,a7b77#b7 applies shall be treated as an amount not contributed4 4 7c7 ,penalty for failure to file reports ,section #ffic7;a77#b7 is amended by striking and at the end of subparagraph 7,d71 by redesignating subparagraph 7,e7 as subparagraph 7,f71 and by inserting after subparagraph 7,d7 the following3 7,e7 section #ebi;,a7d7 7relating to qualified ,,able programs71 and 4 7d7 ,records ,section #eeb;a7a77#h77;,b7 of title #e1 ,united ,states ,code1 is amended-- 7#a7 in clause 7viii71 by striking or at the end2 7#b7 in clause 7ix71 by adding or at the end2 and 7#c7 by adding at the end the following new clause3 7x7 matches performed pursuant to section #c7;d77#d7 of the ,achieving a ,better ,life ,experience ,act of #bjad2 4 7e7 ,other conforming amendments 7#a7 ,section #bf7;b77#b7 is amended by striking and at the end of subparagraph 7,w71 by striking the period at the end of subparagraph 7,x7 and inserting 1 and1 and by inserting after subparagraph 7,x7 the following3 7,y7 section #ebi;,a7c77#c77;,a7 7relating to additional tax on ,,able account distributions not used for qualified disability expenses74 4 7#b7 ,section #hgg;,a is amended-- 7,a7 in subsection 7e77#b7 by inserting a qualified ,,able program 7as defined in section #ebi;,a71 after #ebi711 and 7,b7 in subsection 7g77#f7 by inserting #ebi;,a7c77#c71 after #ebi7;c77#f714 7#c7 ,section #dife7;c7 is amended by striking or at the end of paragraph 7#f71 by striking the period at the end of paragraph 7#g7 and inserting 1 or1 and by inserting after paragraph 7#g7 the following new paragraph3 7#h7 a program described in section #ebi;,a4 4 7#d7 ,the heading for part ,,viii of subchapter ,f of chapter #a is amended by striking ,higher ,education and inserting ,certain4 7#e7 ,the item in the table of parts for subchapter ,f of chapter #a relating to part ,,viii is amended to read as follows3 ,part ,,viii4 ,certain ,savings ,entities4 4 7#f7 ,the table of sections for part ,,viii of subchapter ,f of chapter #a is amended by inserting after the item relating to section #ebi the following new item3 ,sec4 #ebi;,a4 ,qualified ,,able programs4 4 7#g7 ,paragraph 7#d7 of section #ajbg7;g7 of the ,consumer ,financial ,protection ,act of #bjaj 7#ab ,u4,s4,c4 #eeag7;g77#d77 is amended by inserting 1 #ebi;,a after #ebi4 7f7 ,effective date 7#a7 ,in general ,the amendments made by this section shall apply to taxable years beginning after ,december #ca1 #bjad4 7#b7 ,regulations ,the ,secretary of the ,treasury 7or the ,secretary's designee7 shall promulgate the regulations or other guidance required under section #ebi;,a7g7 of the ,internal ,revenue ,code of #aihf1 as added by subsection 7a71 not later than #f months after the date of the enactment of this ,act4 #ajc4 ,treatment of ,,able accounts under certain ,federal programs 7a7 ,account funds disregarded for purposes of certain other means-,tested ,federal programs ,notwithstanding any other provision of ,federal law that requires consideration of #a or more financial circumstances of an individual1 for the purpose of determining eligibility to receive1 or the amount of1 any assistance or benefit authorized by such provision to be provided to or for the benefit of such individual1 any amount 7including earnings thereon7 in the ,,able account 7within the meaning of section #ebi;,a of the ,internal ,revenue ,code of #aihf7 of such individual1 any contributions to the ,,able account of the individual1 and any distribution for qualified disability expenses 7as defined in subsection 7e77#e7 of such section7 shall be disregarded for such purpose with respect to any period during which such individual maintains1 makes contributions to1 or receives distributions from such ,,able account1 except that1 in the case of the supplemental security income program under title ,,xvi of the ,social ,security ,act-- 7#a7 a distribution for housing expenses 7within the meaning of such subsection7 shall not be so disregarded1 and 7#b7 in the case of such program1 any amount 7including such earnings7 in such ,,able account shall be considered a resource of the designated beneficiary to the extent that such amount exceeds #ajj1jjj4 7b7 ,suspension of ,,ssi benefits during periods of excessive account funds 7#a7 ,in general ,the benefits of an individual under the supplemental security income program under title ,,xvi of the ,social ,security ,act shall not be terminated1 but shall be suspended1 by reason of excess resources of the individual attributable to an amount in the ,,able account 7within the meaning of section #ebi;,a of the ,internal ,revenue ,code of #aihf7 of the individual not disregarded under subsection 7a7 of this section4 7#b7 ,no impact on ,medicaid eligibility ,an individual who would be receiving payment of such supplemental security income benefits but for the application of paragraph 7#a7 shall be treated for purposes of title ,,xix of the ,social ,security ,act as if the individual continued to be receiving payment of such benefits4 7c7 ,effective date ,this section shall take effect on the date of the enactment of this ,act4 #ajd4 ,treatment of able accounts in bankruptcy 7a7 ,exclusion from property of the estate ,section #eda7;b7 of the title #aa1 ,united ,states ,code1 is amended-- 7#a7 in paragraph 7#h71 by striking or at the end2 7#b7 in paragraph 7#i71 by striking the period at the end and inserting a semicolon and or2 and 7#c7 by inserting after paragraph 7#i7 the following3 7#aj7 funds placed in an account of a qualified ,,able program 7as defined in section #ebi;,a7b7 of the ,internal ,revenue ,code of #aihf7 not later than #cfe days before the date of the filing of the petition in a case under this title1 but-- 7,a7 only if the designated beneficiary of such account was a child1 stepchild1 grandchild1 or stepgrandchild of the debtor for the taxable year for which funds were placed in such account2 7,b7 only to the extent that such funds-- 7i7 are not pledged or promised to any entity in connection with any extension of credit2 and 7ii7 are not excess contributions 7as described in section #digc7;h7 of the ,internal ,revenue ,code of #aihf72 and 7,c7 in the case of funds placed in all such accounts having the same designated beneficiary not earlier than #gbj days nor later than #cfe days before such date1 only so much of such funds as does not exceed #f1bbe4 4 7b7 ,debtor's monthly expenses ,section #gjg7;b77#b77;,a77ii77,,ii7 of title #aa1 ,united ,states ,code1 is amended by adding at the end ,such monthly expenses may include1 if applicable1 contributions to an account of a qualified ,,able program to the extent such contributions are not excess contributions 7as described in section #digc7;h7 of the ,internal ,revenue ,code of #aihf7 and if the designated beneficiary of such account is a child1 stepchild1 grandchild1 or stepgrandchild of the debtor44 7c7 ,record of debtor's interest ,section #eba7;c7 of title #aa1 ,united ,states ,code1 is amended by inserting 1 an interest in an account in a qualified ,,able program 7as defined in section #ebi;,a7b7 of such ,code1 after ,internal ,revenue ,code of #aihf74 7d7 ,effective date ,the amendments made by this section shall apply with respect to cases commenced under title #aa1 ,united ,states ,code1 on or after the date of the enactment of this ,act4 #aje4 ,investment direction rule for #ebi plans 7a7 ,amendments relating to investment direction rule for #ebi plans 7#a7 ,paragraph 7#d7 of section #ebi7;b7 is amended by striking may not directly or indirectly and all that follows and inserting may1 directly or indirectly1 direct the investment of any contributions to the program 7or any earnings thereon7 no more than #b times in any calendar year44 7#b7 ,the heading of paragraph 7#d7 of section #ebi7;b7is amended by striking ,no and inserting ,limited4 7b7 ,effective date ,the amendments made by this section shall apply to taxable years beginning after ,december #ca1 #bjad4 ,,ii ,offsets #bja4 ,correction to workers compensation offset age 7a7 ,retirement age ,section #bbd7;a7 of the ,social ,security ,act 7#db ,u4,s4,c4 #dbd;a7a77 is amended1 in the matter preceding paragraph 7#a71 by striking the age of #fe and inserting retirement age 7as defined in section #baf7l77#a774 7b7 ,effective date ,the amendment made by subsection 7a7 shall apply with respect to any individual who attains #fe years of age on or after the date that is #ab months after the date of the enactment of this ,act4 #bjb4 ,accelerated application of relative value targets for misvalued services in the ,medicare physician fee schedule ,section #ahdh7;c7 of the ,social ,security ,act 7#db ,u4,s4,c4 #aciew-#d7;c77 is amended-- 7#a7 in subclause 7,,viii7 of paragraph 7#b77;,b77v71 as added by section #bbj7;d77#b7 of the ,protecting ,access to ,medicare ,act of #bjad 7,public ,law #aac-ic7-- 7,a7 by striking #bjag and inserting #bjaf2 and 7,b7 by redesignating such subclause as subclause 7,,ix72 7#b7 in paragraph 7#b77,o7-- 7,a7 in the matter preceding clause 7i71 by striking #bjag through #bjbj and inserting #bjaf through #bjah2 7,b7 in clause 7iii71 by striking #bjag and inserting #bjaf2 and 7,c7 in clause 7v71 by inserting 7or1 for #bjaf1 #a4j percent7 after #j4e percent2 and 7#c7 in paragraph 7#g71 by striking #bjag and inserting #bjaf4 #bjc4 ,consistent treatment of vacuum erection systems in ,medicare ,parts ,b and ,d ,section #ahcd7;a77#a7 of the ,social ,security ,act 7#db ,u4,s4,c4 #aciem7a77#a77 is amended by adding at the end the following new subparagraph3 7,i7 ,treatment of vacuum erection systems ,effective for items and services furnished on and after ,july #a1 #bjae1 vacuum erection systems described as prosthetic devices described in section #ahfa7s77#h7 shall be treated in the same manner as erectile dysfunction drugs are treated for purposes of section #ahfj;,d-#b7;e77#b77;,a74 4 #bjd4 ,one-year delay of implementation of oral-only policy under ,medicare ,,esrd prospective payment system ,section #fcb7;b77#a7 of the ,american ,taxpayer ,relief ,act of #bjab 7#db ,u4,s4,c4 #acierr note71 as amended by section #bag7;a77#a7 of the ,protecting ,access to ,medicare ,act of #bjad 7,public ,law #aac-ic71 is amended by striking #bjbd and inserting #bjbe4 #bje4 ,modification relating to ,inland ,waterways ,trust ,fund financing rate 7a7 ,in general ,section #djdb7;b77#b77;,a7 is amended to read as follows3 7,a7 ,the ,inland ,waterways ,trust ,fund financing rate is #bi cents per gallon4 4 7b7 ,effective date ,the amendment made by this section shall apply to fuel used after ,march #ca1 #bjae4 #bjf4 ,certified professional employer organizations 7a7 ,employment taxes ,chapter #be is amended by adding at the end the following new section3 #ceaa4 ,certified professional employer organizations 7a7 ,general rules ,for purposes of the taxes1 and other obligations1 imposed by this subtitle-- 7#a7 a certified professional employer organization shall be treated as the employer 7and no other person shall be treated as the employer7 of any work site employee performing services for any customer of such organization1 but only with respect to remuneration remitted by such organization to such work site employee1 and 7#b7 the exemptions1 exclusions1 definitions1 and other rules which are based on type of employer and which would 7but for paragraph 7#a77 apply shall apply with respect to such taxes imposed on such remuneration4 7b7 ,successor employer status ,for purposes of sections #caba7;a77#a71 #cbca7;e77#b77;,c71 and #ccjf7;b77#a7-- 7#a7 a certified professional employer organization entering into a service contract with a customer with respect to a work site employee shall be treated as a successor employer and the customer shall be treated as a predecessor employer during the term of such service contract1 and 7#b7 a customer whose service contract with a certified professional employer organization is terminated with respect to a work site employee shall be treated as a successor employer and the certified professional employer organization shall be treated as a predecessor employer4 7c7 ,liability of certified professional employer organization ,solely for purposes of its liability for the taxes and other obligations imposed by this subtitle-- 7#a7 a certified professional employer organization shall be treated as the employer of any individual 7other than a work site employee or a person described in subsection 7f77 who is performing services covered by a contract meeting the requirements of section #ggje7;e77#b71 but only with respect to remuneration remitted by such organization to such individual1 and 7#b7 the exemptions1 exclusions1 definitions1 and other rules which are based on type of employer and which would 7but for paragraph 7#a77 apply shall apply with respect to such taxes imposed on such remuneration4 7d7 ,treatment of credits 7#a7 ,in general ,for purposes of any credit specified in paragraph 7#b7-- 7,a7 such credit with respect to a work site employee performing services for the customer applies to the customer1 not the certified professional employer organization1 7,b7 the customer1 and not the certified professional employer organization1 shall take into account wages and employment taxes-- 7i7 paid by the certified professional employer organization with respect to the work site employee1 and 7ii7 for which the certified professional employer organization receives payment from the customer1 and 7,c7 the certified professional employer organization shall furnish the customer and the ,secretary with any information necessary for the customer to claim such credit4 7#b7 ,credits specified ,a credit is specified in this paragraph if such credit is allowed under-- 7,a7 section #da 7credit for increasing research activity71 7,b7 section #de;,a 7,indian employment credit71 7,c7 section #de;,b 7credit for portion of employer social security taxes paid with respect to employee cash tips71 7,d7 section #de;,c 7clinical testing expenses for certain drugs for rare diseases or conditions71 7,e7 section #de,r 7employee health insurance expenses of small employers71 7,f7 section #ea 7work opportunity credit71 7,g7 section #acif 7empowerment zone employment credit71 and 7,h7 any other section as provided by the ,secretary4 7e7 ,special rule for related party ,this section shall not apply in the case of a customer which bears a relationship to a certified professional employer organization described in section #bfg7;b7 or #gjg7;b74 ,for purposes of the preceding sentence1 such sections shall be applied by substituting #aj percent for #ej percent4 7f7 ,special rule for certain individuals ,for purposes of the taxes imposed under this subtitle1 an individual with net earnings from self-employment derived from the customer's trade or business 7including a partner in a partnership that is a customer7 is not a work site employee with respect to remuneration paid by a certified professional employer organization4 7g7 ,reporting requirements and obligations ,the ,secretary shall develop such reporting and recordkeeping rules1 regulations1 and procedures as the ,secretary determines necessary or appropriate to ensure compliance with this title by certified professional employer organizations or persons that have been so certified4 ,such rules shall include-- 7#a7 notification of the ,secretary in such manner as the ,secretary shall prescribe in the case of the commencement or termination of a service contract described in section #ggje7;e77#b7 between such a person and a customer1 and the employer identification number of such customer1 7#b7 such information as the ,secretary determines necessary for the customer to claim the credits identified in subsection 7d7 and the manner in which such information is to be provided1 as prescribed by the ,secretary1 and 7#c7 such other information as the ,secretary determines is essential to promote compliance with respect to the credits identified in subsection 7d7 and section #ccjb1 and shall be designed in a manner which streamlines1 to the extent possible1 the application of requirements of this section and section #ggje1 the exchange of information between a certified professional employer organization and its customers1 and the reporting and recordkeeping obligations of the certified professional employer organization4 7h7 ,regulations ,the ,secretary shall prescribe such regulations as may be necessary or appropriate to carry out the purposes of this section4 4 7b7 ,certified professional employer organization defined ,chapter #gi is amended by adding at the end the following new section3 #ggje4 ,certified professional employer organizations 7a7 ,in general ,for purposes of this title1 the term certified professional employer organization means a person who applies to be treated as a certified professional employer organization for purposes of section #ceaa and has been certified by the ,secretary as meeting the requirements of subsection 7b74 7b7 ,certification requirements ,a person meets the requirements of this subsection if such person-- 7#a7 demonstrates that such person 7and any owner1 officer1 and other persons as may be specified in regulations7 meets such requirements as the ,secretary shall establish1 including requirements with respect to tax status1 background1 experience1 business location1 and annual financial audits1 7#b7 agrees that it will satisfy the bond and independent financial review requirements of subsection 7c7 on an ongoing basis1 7#c7 agrees that it will satisfy such reporting obligations as may be imposed by the ,secretary1 7#d7 computes its taxable income using an accrual method of accounting unless the ,secretary approves another method1 7#e7 agrees to verify on such periodic basis as the ,secretary may prescribe that it continues to meet the requirements of this subsection1 and 7#f7 agrees to notify the ,secretary in writing within such time as the ,secretary may prescribe of any change that materially affects the continuing accuracy of any agreement or information that was previously made or provided under this subsection4 7c7 ,bond and independent financial review 7#a7 ,in general ,an organization meets the requirements of this paragraph if such organization-- 7,a7 meets the bond requirements of paragraph 7#b71 and 7,b7 meets the independent financial review requirements of paragraph 7#c74 7#b7 ,bond 7,a7 ,in general ,a certified professional employer organization meets the requirements of this paragraph if the organization has posted a bond for the payment of taxes under subtitle ,c 7in a form acceptable to the ,secretary7 that is in an amount at least equal to the amount specified in subparagraph 7,b74 7,b7 ,amount of bond ,for the period ,april #a of any calendar year through ,march #ca of the following calendar year1 the amount of the bond required is equal to the greater of-- 7i7 #e percent of the organization's liability under section #ceaa for taxes imposed by subtitle ,c during the preceding calendar year 7but not to exceed #a1jjj1jjj71 or 7ii7 #ej1jjj4 7#c7 ,independent financial review requirements ,a certified professional employer organization meets the requirements of this paragraph if such organization-- 7,a7 has1 as of the most recent audit date1 caused to be prepared and provided to the ,secretary 7in such manner as the ,secretary may prescribe7 an opinion of an independent certified public accountant as to whether the certified professional employer organization's financial statements are presented fairly in accordance with generally accepted accounting principles1 and 7,b7 provides to the ,secretary an assertion regarding ,federal employment tax payments and an examination level attestation on such assertion from an independent certified public accountant not later than the last day of the second month beginning after the end of each calendar quarter4 ,such assertion shall state that the organization has withheld and made deposits of all taxes imposed by chapters #ba1 #bb1 and #bd in accordance with regulations imposed by the ,secretary for such calendar quarter and such examination level attestation shall state that such assertion is fairly stated1 in all material respects4 7#d7 ,controlled group rules ,for purposes of the requirements of paragraphs 7#b7 and 7#c71 all certified professional employer organizations that are members of a controlled group within the meaning of sections #dad7;b7 and 7c7 shall be treated as a single organization4 7#e7 ,failure to file assertion and attestation ,if the certified professional employer organization fails to file the assertion and attestation required by paragraph 7#c7 with respect to any calendar quarter1 then the requirements of paragraph 7#c7 with respect to such failure shall be treated as not satisfied for the period beginning on the due date for such attestation4 7#f7 ,audit date ,for purposes of paragraph 7#c77;,a71 the audit date shall be six months after the completion of the organization's fiscal year4 7d7 ,suspension and revocation authority ,the ,secretary may suspend or revoke a certification of any person under subsection 7b7 for purposes of section #ceaa if the ,secretary determines that such person is not satisfying the agreements or requirements of subsections 7b7 or 7c71 or fails to satisfy applicable accounting1 reporting1 payment1 or deposit requirements4 7e7 ,work site employee ,for purposes of this title-- 7#a7 ,in general ,the term work site employee means1 with respect to a certified professional employer organization1 an individual who-- 7,a7 performs services for a customer pursuant to a contract which is between such customer and the certified professional employer organization and which meets the requirements of paragraph 7#b71 and 7,b7 performs services at a work site meeting the requirements of paragraph 7#c74 7#b7 ,service contract requirements ,a contract meets the requirements of this paragraph with respect to an individual performing services for a customer if such contract is in writing and provides that the certified professional employer organization shall-- 7,a7 assume responsibility for payment of wages to such individual1 without regard to the receipt or adequacy of payment from the customer for such services1 7,b7 assume responsibility for reporting1 withholding1 and paying any applicable taxes under subtitle ,c1 with respect to such individual's wages1 without regard to the receipt or adequacy of payment from the customer for such services1 7,c7 assume responsibility for any employee benefits which the service contract may require the certified professional employer organization to provide1 without regard to the receipt or adequacy of payment from the customer for such benefits1 7,d7 assume responsibility for recruiting1 hiring1 and firing workers in addition to the customer's responsibility for recruiting1 hiring1 and firing workers1 7,e7 maintain employee records relating to such individual1 and 7,f7 agree to be treated as a certified professional employer organization for purposes of section #ceaa with respect to such individual4 7#c7 ,work site coverage requirement ,the requirements of this paragraph are met with respect to an individual if at least #he percent of the individuals performing services for the customer at the work site where such individual performs services are subject to #a or more contracts with the certified professional employer organization which meet the requirements of paragraph 7#b7 7but not taking into account those individuals who are excluded employees within the meaning of section #dad7q77#e774 7f7 ,public disclosure ,the ,secretary shall make available to the public the name and address of-- 7#a7 each person certified as a professional employer organization under subsection 7a71 and 7#b7 each person whose certification as a professional employer organization is suspended or revoked under subsection 7d74 7g7 ,determination of employment status ,except to the extent necessary for purposes of section #ceaa1 nothing in this section shall be construed to affect the determination of who is an employee or employer for purposes of this title4 7h7 ,regulations ,the ,secretary shall prescribe such regulations as may be necessary or appropriate to carry out the purposes of this section4 4 7c7 ,conforming amendments 7#a7 ,section #ccjb is amended by adding at the end the following new subsection3 7h7 ,treatment of certified professional employer organizations ,if a certified professional employer organization 7as defined in section #ggje71 or a customer of such organization1 makes a contribution to the ,state's unemployment fund with respect to wages paid to a work site employee1 such certified professional employer organization shall be eligible for the credits available under this section with respect to such contribution4 4 7#b7 ,section #ccjc7;a7 is amended-- 7,a7 by striking the period at the end of paragraph 7#c7 and inserting 2 and and by inserting after paragraph 7#c7 the following new paragraph3 7#d7 if the taxpayer is a certified professional employer organization 7as defined in section #ggje7 that is treated as the employer under section #ceaa1 such certified professional employer organization is permitted to collect and remit1 in accordance with paragraphs 7#a71 7#b71 and 7#c71 contributions during the taxable year to the ,state unemployment fund with respect to a work site employee4 1 and 7,b7 in the last sentence-- 7i7 by striking paragraphs 7#a71 7#b71 and 7#c7 and inserting paragraphs 7#a71 7#b71 7#c71 and 7#d71 and 7ii7 by striking paragraph 7#a71 7#b71 or 7#c7 and inserting paragraph 7#a71 7#b71 7#c71 or 7#d74 7#c7 ,section #fjec7;c7 is amended by adding at the end the following new paragraph3 7#h7 ,certified professional employer organizations ,for purposes of any report required by this subsection1 in the case of a certified professional employer organization that is treated under section #ceaa as the employer of a work site employee1 the customer with respect to whom a work site employee performs services shall be the employer for purposes of reporting under this section and the certified professional employer organization shall furnish to the customer and the ,secretary any information the ,secretary prescribes as necessary to complete such reporting no later than such time as the ,secretary shall prescribe4 4 7#d7 ,section #ffeb is amended by adding at the end the following new subsection3 7n7 ,failure to make reports required under sections #ceaa1 #fjec7;c77#h71 and #ggje ,in the case of a failure to make a report required under section #ceaa1 #fjec7;c77#h71 or #ggje which contains the information required by such section on the date prescribed therefor 7determined with regard to any extension of time for filing71 there shall be paid 7on notice and demand by the ,secretary and in the same manner as tax7 by the person failing to make such report1 an amount equal to #ej for each report with respect to which there was such a failure4 ,in the case of any failure due to negligence or intentional disregard the preceding sentence shall be applied by substituting #ajj for #ej4 4 7d7 ,clerical amendments 7#a7 ,the table of sections for chapter #be is amended by adding at the end the following new item3 ,sec4 #ceaa4 ,certified professional employer organizations4 4 7#b7 ,the table of sections for chapter #gi is amended by inserting after the item relating to section #ggjd the following new item3 ,sec4 #ggje4 ,certified professional employer organizations4 4 7f7 ,user fees ,section #gebh7;b7 is amended by adding at the end the following new paragraph3 7#d7 ,certified professional employer organizations ,the fee charged under the program in connection with the certification by the ,secretary of a professional employer organization under section #ggje shall be an annual fee not to exceed #a1jjj per year4 4 7g7 ,effective dates 7#a7 ,in general ,the amendments made by this section shall apply with respect to wages for services performed on or after ,january #a of the first calendar year beginning more than #ab months after the date of the enactment of this ,act4 7#b7 ,certification program ,the ,secretary of the ,treasury shall establish the certification program described in section #ggje7;b7 of the ,internal ,revenue ,code of #aihf1 as added by subsection 7b71 not later than #f months before the effective date determined under paragraph 7#a74 7h7 ,no inference ,nothing contained in this section or the amendments made by this section shall be construed to create any inference with respect to the determination of who is an employee or employer-- 7#a7 for ,federal tax purposes 7other than the purposes set forth in the amendments made by this section71 or 7#b7 for purposes of any other provision of law4 #bjg4 ,exclusion of dividends from controlled foreign corporations from the definition of personal holding company income for purposes of the personal holding company rules 7a7 ,in general ,section #edc7;a77#a7 is amended-- 7#a7 by redesignating subparagraphs 7,c7 and 7,d7 as subparagraphs 7,d7 and 7,e71 respectively1 and 7#b7 by inserting after subparagraph 7,b7 the following3 7,c7 dividends received by a ,united ,states shareholder 7as defined in section #iea7;b77 from a controlled foreign corporation 7as defined in section #ieg7;a771 4 7b7 ,effective date ,the amendments made by this ,act shall apply to taxable years ending on or after the date of the enactment of this ,act4 #bjh4 ,inflation adjustment for certain civil penalties under the ,internal ,revenue ,code of #aihf 7a7 ,failure to file tax return or pay tax ,section #ffea is amended by adding at the end the following new subsection3 7i7 ,adjustment for inflation 7#a7 ,in general ,in the case of any return required to be filed in a calendar year beginning after #bjad1 the #ace dollar amount under subsection 7a7 shall be increased by such dollar amount multiplied by the cost-of-living adjustment determined under section #a7;f77#c7 determined by substituting calendar year #bjac for calendar year #aiib in subparagraph 7,b7 thereof4 7#b7 ,rounding ,if any amount adjusted under paragraph 7#a7 is not a multiple of #e1 such amount shall be rounded to the next lowest multiple of #e4 4 7b7 ,failure to file certain information returns1 registration statements1 etc 7#a7 ,in general ,section #ffeb7;c7 is amended by adding at the end the following new paragraph3 7#f7 ,adjustment for inflation 7,a7 ,in general ,in the case of any failure relating to a return required to be filed in a calendar year beginning after #bjad1 each of the dollar amounts under paragraphs 7#a71 7#b71 and 7#c7 shall be increased by such dollar amount multiplied by the cost-of-living adjustment determined under section #a7;f77#c7 determined by substituting calendar year #bjac for calendar year #aiib in subparagraph 7,b7 thereof4 7,b7 ,rounding ,if any amount adjusted under subparagraph 7,a7-- 7i7 is not less than #e1jjj and is not a multiple of #ejj1 such amount shall be rounded to the next lowest multiple of #ejj1 and 7ii7 is not described in clause 7i7 and is not a multiple of #e1 such amount shall be rounded to the next lowest multiple of #e4 4 7#b7 ,conforming amendments 7,a7 ,the last sentence of section #ffeb7;c77#a77;,a7 is amended by striking the first sentence of this subparagraph shall be applied by substituting #ajj for #bj and and inserting in applying the first sentence of this subparagraph1 the amount of the penalty for each day during which a failure continues shall be #ajj in lieu of the amount otherwise specified1 and4 7,b7 ,section #ffeb7;c77#b77;,c77ii7 is amended by striking the first sentence of paragraph 7#a77;,a7 and all that follows and inserting in applying the first sentence of paragraph 7#a77;,a71 the amount of the penalty for each day during which a failure continues shall be #ajj in lieu of the amount otherwise specified1 and in lieu of applying the second sentence of paragraph 7#a77;,a71 the maximum penalty under paragraph 7#a77;,a7 shall not exceed #ej1jjj1 and4 7c7 ,other assessable penalties with respect to the preparation of tax returns for other persons ,section #ffie is amended by adding at the end the following new subsection3 7h7 ,adjustment for inflation 7#a7 ,in general ,in the case of any failure relating to a return or claim for refund filed in a calendar year beginning after #bjad1 each of the dollar amounts under subsections 7a71 7b71 7c71 7d71 7e71 7f71 and 7g7 shall be increased by such dollar amount multiplied by the cost-of-living adjustment determined under section #a7;f77#c7 determined by substituting calendar year #bjac for calendar year #aiib in subparagraph 7,b7 thereof4 7#b7 ,rounding ,if any amount adjusted under subparagraph 7,a7-- 7,a7 is not less than #e1jjj and is not a multiple of #ejj1 such amount shall be rounded to the next lowest multiple of #ejj1 and 7,b7 is not described in clause 7i7 and is not a multiple of #e1 such amount shall be rounded to the next lowest multiple of #e4 4 7d7 ,failure to file partnership return ,section #ffih is amended by adding at the end the following new subsection3 7e7 ,adjustment for inflation 7#a7 ,in general ,in the case of any return required to be filed in a calendar year beginning after #bjad1 the #aie dollar amount under subsection 7b77#a7 shall be increased by such dollar amount multiplied by the cost-of-living adjustment determined under section #a7;f77#c7 determined by substituting calendar year #bjac for calendar year #aiib in subparagraph 7,b7 thereof4 7#b7 ,rounding ,if any amount adjusted under paragraph 7#a7 is not a multiple of #e1 such amount shall be rounded to the next lowest multiple of #e4 4 7e7 ,failure to file ,s corporation return ,section #ffii is amended by adding at the end the following new subsection3 7e7 ,adjustment for inflation 7#a7 ,in general ,in the case of any return required to be filed in a calendar year beginning after #bjad1 the #aie dollar amount under subsection 7b77#a7 shall be increased by such dollar amount multiplied by the cost-of-living adjustment determined under section #a7;f77#c7 determined by substituting calendar year #bjac for calendar year #aiib in subparagraph 7,b7 thereof4 7#b7 ,rounding ,if any amount adjusted under paragraph 7#a7 is not a multiple of #e1 such amount shall be rounded to the next lowest multiple of #e4 4 7f7 ,failure to file correct information returns ,section #fgba7;f77#a7 is amended by striking ,for each fifth calendar year beginning after #bjab and inserting ,in the case of any failure relating to a return required to be filed in a calendar year beginning after #bjad4 7g7 ,failure to furnish correct payee statements ,section #fgbb7;f77#a7 is amended by striking ,for each fifth calendar year beginning after #bjab and inserting ,in the case of any failure relating to a statement required to be furnished in a calendar year beginning after #bjad4 7h7 ,effective date ,the amendments made by this section shall apply to returns required to be filed after ,december #ca1 #bjad4 #bji4 ,increase in continuous levy 7a7 ,in general ,paragraph 7#c7 of section #fcca7;h7 is amended by striking the period at the end and inserting and by substituting #cj percent for #ae percent in the case of any specified payment due to a ,medicare provider or supplier under title ,,xviii of the ,social ,security ,act44 7b7 ,effective date ,the amendment made by this section shall apply to payments made after #ahj days after the date of the enactment of this ,act4 ,passed the ,house of ,representatives ,december #c1 #bjad4;,clerk4