,i #aac? ,,congress #a/ ,session ,h4 ,r4 #hhf ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,febru>y #bh1 #bjac ,mr4 ,g]la* 7= himself & ,mr4 ,k9d7 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,ways & ,means ,a ,,bill ,to am5d ! ,int]nal ,rev5ue ,code ( #aihf to provide tax relief = small bus9esses1 & = o!r purposes4 #a4 ,%ort title2 etc 7a7 ,%ort title ,?is ,act may be cit$ z ! ,am]ica's ,small ,bus9ess ,tax ,relief ,act ( #bjac4 7b7 ,ref]5ces ,except z o!rwise expressly provid$1 :5ev] 9 ?is ,act an am5dm5t or repeal is express$ 9 t]ms ( an am5dm5t to1 or repeal (1 a section or o!r provision1 ! ref]5ce %all be consid]$ to be made to a section or o!r provision ( ! ,int]nal ,rev5ue ,code ( #aihf4 7c7 ,table ( cont5ts ,! table ( cont5ts = ?is ,act is z foll[s3 ,sec4 #a4 ,%ort title2 etc4 ,sec4 #b4 #ajj-p]c5t exclusion ( ga9 on c]ta9 small bus9ess /ock made p]man5t4 ,sec4 #c4 #e-ye> c>ryback ( g5]al bus9ess cr$its ( eligible small bus9esses re9/at$ & made p]man5t4 ,sec4 #d4 ,alt]native m9imum tax rules = g5]al bus9ess cr$its ( eligible small bus9esses re9/at$ & made p]man5t4 ,sec4 #e4 ,r$uction 9 recognition p]iod = built-9 ga9s tax made p]man5t4 ,sec4 #f4 ,increas$ exp5s+ limitations & treatm5t ( c]ta9 real prop]ty z section #agi prop]ty made p]man5t4 ,sec4 #g4 ,special rule = long-t]m contract acc\nt+ made p]man5t4 ,sec4 #h4 ,increase ( am\nt all[$ z a d$uction = />t-up exp5ditures re9/at$ & made p]man5t4 ,sec4 #i4 ,all[ance ( d$uction = heal? insurance 9 comput+ self-employm5t taxes re9/at$ & made p]man5t4 #b4 #ajj-p]c5t exclusion ( ga9 on c]ta9 small bus9ess /ock made p]man5t 7a7 ,9 g5]al ,p>agraph 7#d7 ( section #abjb7;a7 is am5d$-- 7#a7 by /rik+ aft] ! date ( ! enactm5t ( ! ,creat+ ,small ,bus9ess ,jobs ,act ( #bjaj & be=e ,janu>y #a1 #bjad & ins]t+ aft] ,septemb] #bg1 #bjaj1 & 7#b7 by /rik+ dur+ c]ta9 p]iods 9 #bjaj & #bjaa & ins]t+ aft] ,septemb] #bg1 #bjaj 9 ! head+ !re(4 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to /ock acquir$ aft] ,decemb] #ca1 #bjac4 #c4 #e-ye> c>ryback ( g5]al bus9ess cr$its ( eligible small bus9esses re9/at$ & made p]man5t 7a7 ,9 g5]al ,subp>agraph 7,a7 ( section #ci7;a77#d7 is am5d$ by /rik+ det]m9$ 9 ! fir/ taxable ye> ( ! taxpay] beg9n+ 9 #bjaj4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to cr$its det]m9$ 9 taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjab4 #d4 ,alt]native m9imum tax rules = g5]al bus9ess cr$its ( eligible small bus9esses re9/at$ & made p]man5t 7a7 ,9 g5]al ,p>agraph 7#e7 ( section #ch7;c7 is am5d$-- 7#a7 by /rik+ det]m9$ 9 taxable ye>s beg9n+ 9 #bjaj 9 subp>agraph 7,a71 & 7#b7 by /rik+ 9 #bjaj 9 ! head+ ( su* p>agraph4 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to cr$its det]m9$ 9 taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjab1 & to c>rybacks ( su* cr$its4 #e4 ,r$uction 9 recognition p]iod = built-9 ga9s tax made p]man5t 7a7 ,9 g5]al ,subp>agraph 7,a7 ( section #acgd7;d77#g7 is am5d$ by /rik+ #aj-ye> p]iod & ins]t+ #e-ye> p]iod4 7b7 ,con=m+ am5dm5ts 7#a7 ,p>agraph 7#g7 ( section #acgd7;d7 is am5d$ by /rik+ subp>agraphs 7,b7 & 7,c7 & by r$esignat+ subp>agraph 7,d7 z subp>agraph 7,b74 7#b7 ,subp>agraph 7,b7 ( section #acgd7;d77#g71 z r$esignat$ by p>agraph 7#a71 is am5d$ by /rik+ section #eic7;e7-- & all t foll[s & ins]t+ section #eic7;e71 subp>agraph 7,a7 %all be appli$ )\t reg>d to ! phrase #e-ye>44 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjac4 #f4 ,increas$ exp5s+ limitations & treatm5t ( c]ta9 real prop]ty z section #agi prop]ty made p]man5t 7a7 ,9 g5]al ,subsection 7b7 ( section #agi is am5d$-- 7#a7 by /rik+ %all n exce$-- & all t foll[s 9 p>agraph 7#a7 & ins]t+ %all n exce$ #ejj1jjj41 & 7#b7 by /rik+ exce$s-- & all t foll[s 9 p>agraph 7#b7 & ins]t+ exce$s #b1jjj1jjj44 7b7 ,comput] s(tw>e ,clause 7ii7 ( section #agi7;d77#a77;,a7 is am5d$ by /rik+ & :i* is plac$ 9 s]vice 9 a taxable ye> beg9n+ aft] #bjjb & be=e #bjad14 7c7 ,election ,p>agraph 7#b7 ( section #agi7;c7 is am5d$ to read z foll[s3 7#b7 ,revocation ( election ,any election made "u ?is section1 & any specification conta9$ 9 any su* election1 may be revok$ by ! taxpay] ) respect to any prop]ty1 & su* revocation1 once made1 %all be irrevocable4 4 7d7 ,special rules = treatm5t ( qualifi$ real prop]ty ,p>agraph 7#a7 ( section #agi7;f7 is am5d$ by /rik+ beg9n+ 9 #bjaj1 #bjaa1 #bjab1 or #bjac4 7e7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjac4 #g4 ,special rule = long-t]m contract acc\nt+ made p]man5t 7a7 ,9 g5]al ,subp>agraph 7,b7 ( section #dfj7;c77#f7 is am5d$ by /rik+ :i*-- & all t foll[s & ins]t+ :i* has a recov]y p]iod ( #g ye>s or less44 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjac4 #h4 ,increase ( am\nt all[$ z a d$uction = />t-up exp5ditures re9/at$ & made p]man5t 7a7 ,9 g5]al ,clause 7ii7 ( section #aie7;b77#a77;,a7 is am5d$-- 7#a7 by /rik+ #e1jjj & ins]t+ #aj1jjj1 & 7#b7 by /rik+ #ej1jjj & ins]t+ #fj1jjj4 7b7 ,con=m+ am5dm5t ,subsection 7b7 ( section #aie is am5d$ by /rik+ p>agraph 7#c74 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to am\nts paid or incurr$ 9 taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjab4 #i4 ,all[ance ( d$uction = heal? insurance 9 comput+ self-employm5t taxes re9/at$ & made p]man5t 7a7 ,9 g5]al ,p>agraph 7#d7 ( section #afb7l7 is am5d$ by /rik+ 1 or aft] ,decemb] #ca1 #bjaj4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjab4