,,ii ,cal5d> ,no4 #cff #aac? ,,congress #b;d ,session ,s4 #bbfj ,report ,no4 #aac-aed ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,april #bh1 #bjad ,mr4 ,wyd51 f ! ,committee on ,f9ance1 report$ ! foll[+ orig9al bill2 :i* 0 read twice & plac$ on ! cal5d> ,a ,,bill ,to am5d ! ,int]nal ,rev5ue ,code ( #aihf to ext5d c]ta9 expir+ provisions1 & = o!r purposes4 #a4 ,%ort title1 etc 7a7 ,%ort title ,?is ,act may be cit$ z ! ,expir+ ,provisions ,improvem5t1 ,re=m1 & ,effici5cy ,act ( #bjad or ! ,,expire ,act ( #bjad4 7b7 ,am5dm5t ( #aihf ,code ,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 title1 etc4 ,sec4 #b4 ,s5se ( ! ,s5ate4 ,,title ,i--,provisions expir+ 9 #bjac ,subtitle ,a--,individual tax ext5d]s ,sec4 #aja4 ,ext5sion ( heal? c>e tax cr$it4 ,sec4 #ajb4 ,ext5sion ( d$uction = c]ta9 exp5ses ( elem5t>y & second>y s*ool tea*]s4 ,sec4 #ajc4 ,ext5sion ( exclusion f gross income ( dis*>ge ( qualifi$ pr9cipal resid5ce indebt$ness4 ,sec4 #ajd4 ,ext5sion ( p>ity & modification ( exclusion f income = employ]-provid$ mass transit & p>k+ b5efits4 ,sec4 #aje4 ,ext5sion ( mortgage insurance premiums treat$ z qualifi$ resid5ce int]e/4 ,sec4 #ajf4 ,ext5sion ( d$uction ( ,/ate & local g5]al sales taxes4 ,sec4 #ajg4 ,ext5sion ( special rule = contributions ( capital ga9 real prop]ty made = cons]vation purposes4 ,sec4 #ajh4 ,ext5sion ( above-!-l9e d$uction = qualifi$ tuition & relat$ exp5ses4 ,sec4 #aji4 ,ext5sion ( tax-free di/ributions f individual retirem5t plans = *>itable purposes4 ,subtitle ,b--,bus9ess tax ext5d]s ,sec4 #aaa4 ,ext5sion & modification ( rese>* cr$it4 ,sec4 #aab4 ,ext5sion & modification ( tempor>y m9imum l[-income h\s+ tax cr$it rate = non-f$]ally subsidiz$ build+s4 ,sec4 #aac4 ,ext5sion ( milit>y h\s+ all[ance exclusion = det]m9+ :e!r a t5ant 9 c]ta9 c\nties is l[-income4 ,sec4 #aad4 ,ext5sion ( ,indian employm5t tax cr$it4 ,sec4 #aae4 ,ext5sion & modification ( new m>kets tax cr$it4 ,sec4 #aaf4 ,ext5sion ( railroad track ma9t5ance cr$it4 ,sec4 #aag4 ,ext5sion ( m9e rescue team tra9+ cr$it4 ,sec4 #aah4 ,ext5sion & modification ( employ] wage cr$it = employees :o are active duty memb]s ( ! uni=m$ s]vices4 ,sec4 #aai4 ,ext5sion & modification ( "w opportunity tax cr$it4 ,sec4 #abj4 ,ext5sion & modification ( qualifi$ zone academy bonds4 ,sec4 #aba4 ,ext5sion ( classification ( c]ta9 race horses z #c-ye> prop]ty4 ,sec4 #abb4 ,ext5sion ( #ae-ye> /raight-l9e co/ recov]y = qualifi$ leasehold improvem5ts1 qualifi$ re/aurant build+s & improvem5ts1 & qualifi$ retail improvem5ts4 ,sec4 #abc4 ,ext5sion ( #g-ye> recov]y p]iod = motorsports ent]ta9m5t complexes4 ,sec4 #abd4 ,ext5sion ( accel]at$ depreciation = bus9ess prop]ty on an ,indian res]vation4 ,sec4 #abe4 ,ext5sion ( bonus depreciation4 ,sec4 #abf4 ,ext5sion ( enhanc$ *>itable d$uction = contributions ( food inv5tory4 ,sec4 #abg4 ,ext5sion & modification ( increas$ exp5s+ limitations & treatm5t ( c]ta9 real prop]ty z section #agi prop]ty4 ,sec4 #abh4 ,ext5sion ( election to exp5se m9e safety equipm5t4 ,sec4 #abi4 ,ext5sion ( special exp5s+ rules = c]ta9 film & television productions2 special exp5s+ = live !atrical productions4 ,sec4 #acj4 ,ext5sion ( d$uction all[able ) respect to income attributable to dome/ic production activities 9 ,pu]to ,rico4 ,sec4 #aca4 ,ext5sion ( modification ( tax treatm5t ( c]ta9 paym5ts to controll+ exempt organizations4 ,sec4 #acb4 ,ext5sion ( treatm5t ( c]ta9 divid5ds ( regulat$ inve/m5t companies4 ,sec4 #acc4 ,ext5sion ( ,,ric qualifi$ inve/m5t entity treatm5t "u ,,firpta4 ,sec4 #acd4 ,ext5sion ( subp>t ,f exception = active f9anc+ income4 ,sec4 #ace4 ,ext5sion ( look-?ru treatm5t ( paym5ts betwe5 relat$ controll$ =eign corporations "u =eign p]sonal hold+ company rules4 ,sec4 #acf4 ,ext5sion ( tempor>y exclusion ( #ajj p]c5t ( ga9 on c]ta9 small bus9ess /ock4 ,sec4 #acg4 ,ext5sion ( basis adju/m5t to /ock ( ,s corporations mak+ *>itable contributions ( prop]ty4 ,sec4 #ach4 ,ext5sion ( r$uction 9 ,s-corporation recognition p]iod = built-9 ga9s tax4 ,sec4 #aci4 ,ext5sion ( emp[]m5t zone tax inc5tives4 ,sec4 #adj4 ,ext5sion ( tempor>y increase 9 limit on cov] ov] ( rum excise taxes to ,pu]to ,rico & ! ,virg9 ,isl&s4 ,sec4 #ada4 ,ext5sion ( ,am]ican ,samoa economic developm5t cr$it4 ,subtitle ,c--,en]gy tax ext5d]s ,sec4 #aea4 ,ext5sion & modification ( cr$it = nonbus9ess en]gy prop]ty4 ,sec4 #aeb4 ,ext5sion ( cr$it = #b-:eel$ plug-9 electric vehicles4 ,sec4 #aec4 ,ext5sion ( second g5]ation bi(uel produc] cr$it4 ,sec4 #aed4 ,ext5sion ( inc5tives = biodiesel & r5ewable diesel4 ,sec4 #aee4 ,ext5sion & modification ( production cr$it = ,indian coal facilities plac$ 9 s]vice be=e #bjji4 ,sec4 #aef4 ,ext5sion ( cr$its ) respect to facilities produc+ en]gy f c]ta9 r5ewable res\rces4 ,sec4 #aeg4 ,ext5sion ( cr$it = en]gy-effici5t new homes4 ,sec4 #aeh4 ,ext5sion ( special all[ance = second g5]ation bi(uel plant prop]ty4 ,sec4 #aei4 ,ext5sion & modification ( en]gy effici5t comm]cial build+s d$uction4 ,sec4 #afj4 ,ext5sion ( special rule = sales or dispositions to implem5t ,,f]c or ,/ate electric re/ructur+ policy = qualifi$ electric utilities4 ,sec4 #afa4 ,ext5sion ( excise tax cr$its relat+ to c]ta9 fuels4 ,,title ,,ii--,provisions expir+ 9 #bjad ,subtitle ,a--,en]gy tax ext5d]s ,sec4 #bja4 ,ext5sion ( cr$it = new qualifi$ fuel cell motor vehicles4 ,sec4 #bjb4 ,ext5sion ( cr$it = alt]native fuel vehicle refuel+ prop]ty4 ,subtitle ,b--,ext5d]s relat+ to multiemploy] def9$ b5efit p5sion plans ,sec4 #bea4 ,ext5sion ( automatic ext5sion ( amortization p]iods4 ,sec4 #beb4 ,ext5sion ( fund+ improvem5t & rehabilitation plan rules4 ,,title ,,iii--,rev5ue provisions ,sec4 #cja4 ,p5alty = failure to meet due dilig5ce requirem5ts = ! *ild tax cr$it4 ,sec4 #cjb4 #ajj p]c5t cont9u\s levy on paym5t to m$ic>e provid]s & suppli]s4 ,sec4 #cjc4 ,exclusion f gross income ( c]ta9 clean coal p[] grants to non-corporate taxpay]s4 ,sec4 #cjd4 ,re=m ( rules relat+ to qualifi$ tax collection contracts4 ,sec4 #cje4 ,special compliance p]sonnel program4 ,sec4 #cjf4 ,exclusion ( divid5ds f controll$ =eign corporations f ! def9ition ( p]sonal hold+ company income = purposes ( ! p]sonal hold+ company rules4 ,sec4 #cjg4 ,inflation adju/m5t = c]ta9 civil p5alties "u ! ,int]nal ,rev5ue ,code ( #aihf4 ,,title ,,iv--,budget>y effects ,sec4 #dja4 ,budget>y effects4 #b4 ,s5se ( ! ,s5ate ,x is ! s5se ( ! ,s5ate t-- 7#a7 a process ( compreh5sive tax re=m %\ld comm5ce 9 ! #aad? ,congress & %\ld conclude be=e ,janu>y #a1 #bjaf2 7#b7 ,congress %\ld endeavor1 z "p ( su* a tax re=m process1 to elim9ate tempor>y provisions f ! ,int]nal ,rev5ue ,code ( #aihf by mak+ p]man5t ^? provisions t m]it p]man5cy & all[+ o!rs to expire2 7#c7 a major focus ( su* tax re=m process %\ld be fo/]+ economic gr[? & l[]+ tax rates by broad5+ ! tax base2 & 7#d7 ! *airman & rank+ memb] ( ! ,committee on ,f9ance ( ! ,s5ate %\ld consult ) ! *airman & rank+ memb] ( ! ,committee on ! ,budget ( ! ,s5ate to ensure t ! appropriate basel9e is us$ 9 det]m9+ ! economic effects (1 & rate adju/m5ts "u1 tax re=m4 ,i ,provisions expir+ 9 #bjac ,a ,individual tax ext5d]s #aja4 ,ext5sion ( heal? c>e tax cr$it 7a7 ,9 g5]al ,subp>agraph 7,b7 ( section #ce7;b77#a7 is am5d$ by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjaf4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to cov]age mon?s beg9n+ aft] ,decemb] #ca1 #bjac4 #ajb4 ,ext5sion ( d$uction = c]ta9 exp5ses ( elem5t>y & second>y s*ool tea*]s 7a7 ,9 g5]al ,subp>agraph 7,d7 ( section #fb7;a77#b7 is am5d$ by /rik+ or #bjac & ins]t+ #bjac1 #bjad1 or #bjae4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjac4 #ajc4 ,ext5sion ( exclusion f gross income ( dis*>ge ( qualifi$ pr9cipal resid5ce indebt$ness 7a7 ,9 g5]al ,subp>agraph 7,e7 ( section #ajh7;a77#a7 is am5d$ by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjaf4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to indebt$ness dis*>g$ aft] ,decemb] #ca1 #bjac4 #ajd4 ,ext5sion ( p>ity & modification ( exclusion f income = employ]-provid$ mass transit & p>k+ b5efits 7a7 ,ext5sion 7#a7 ,9 g5]al ,p>agraph 7#b7 ( section #acb7;f7 is am5d$ by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjaf4 7#b7 ,effective date ,! am5dm5t made by ?is subsection %all apply to mon?s aft] ,decemb] #ca1 #bjac4 7b7 ,use ( a bike %>e program z a qualifi$ transportation fr+e 7#a7 ,9 g5]al ,section #acb7;f77#e77;,f7 is am5d$-- 7,a7 9 clause 7i71 by /rik+ repair1 & /orage1 if su* bicycle & ins]t+ repair1 & /orage 7or use ( a bike %>+ program1 9 ! case ( taxable ye>s beg9n+ be=e ,janu>y #a1 #bjaf71 if su* bicycle or bike %>+ program1 & 7,b7 9 clause 7iii77,i71 by ins]t+ or bike %>+ program aft] bicycle4 7#b7 ,effective date ,! am5dm5ts made by ?is subsection %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjac4 #aje4 ,ext5sion ( mortgage insurance premiums treat$ z qualifi$ resid5ce int]e/ 7a7 ,9 g5]al ,subclause 7,i7 ( section #afc7;h77#c77;,e77iv7 is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjae4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to am\nts paid or accru$ aft] ,decemb] #ca1 #bjac4 #ajf4 ,ext5sion ( d$uction ( ,/ate & local g5]al sales taxes 7a7 ,9 g5]al ,subp>agraph 7,i7 ( section #afd7;b77#e7 is am5d$ by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjaf4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjac4 #ajg4 ,ext5sion ( special rule = contributions ( capital ga9 real prop]ty made = cons]vation purposes 7a7 ,9 g5]al ,clause 7vi7 ( section #agj7;b77#a77;,e7 is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjae4 7b7 ,contributions by c]ta9 corporate f>m]s & ran*]s ,clause 7iii7 ( section #agj7;b77#b77;,b7 is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjae4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to contributions made 9 taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjac4 #ajh4 ,ext5sion ( above-!-l9e d$uction = qualifi$ tuition & relat$ exp5ses 7a7 ,9 g5]al ,subsection 7e7 ( section #bbb is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjae4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjac4 #aji4 ,ext5sion ( tax-free di/ributions f individual retirem5t plans = *>itable purposes 7a7 ,9 g5]al ,subp>agraph 7,f7 ( section #djh7;d77#h7 is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjae4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to di/ributions made 9 taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjac4 ,b ,bus9ess tax ext5d]s #aaa4 ,ext5sion & modification ( rese>* cr$it 7a7 ,ext5sion 7#a7 ,9 g5]al ,p>agraph 7#a7 ( section #da7;h7 is am5d$ by /rik+ paid or incurr$ & all t foll[s & ins]t+ paid or incurr$ aft] ,decemb] #ca1 #bjae44 7#b7 ,con=m+ am5dm5t ,subp>agraph 7,d7 ( section #de;,c7b77#a7 is am5d$ to read z foll[s3 7,d7 ,special rule ,if section #da is n 9 effect = any p]iod1 su* section %all be deem$ to rema9 9 effect = su* p]iod = purposes ( ?is p>agraph4 4 7#c7 ,effective date ,! am5dm5ts made by ?is subsection %all apply to am\nts paid or incurr$ aft] ,decemb] #ca1 #bjac4 7b7 ,treatm5t ( rese>* cr$it = c]ta9 />tup companies 7#a7 ,9 g5]al ,section #da is am5d$ by add+ at ! end ! foll[+ new subsection3 7i7 ,treatm5t ( cr$it = qualifi$ small bus9esses 7#a7 ,9 g5]al ,at ! election ( a qualifi$ small bus9ess = any taxable ye>1 section #caaa7;f7 %all apply to ! payroll tax cr$it portion ( ! cr$it o!rwise det]m9$ "u subsection 7a7 = ! taxable ye> & su* portion %all n be treat$ 7o!r ?an = purposes ( section #bhj;,c7 z a cr$it det]m9$ "u subsection 7a74 7#b7 ,payroll tax cr$it portion ,= purposes ( ?is subsection1 ! payroll tax cr$it portion ( ! cr$it det]m9$ "u subsection 7a7 ) respect to any qualifi$ small bus9ess = any taxable ye> is ! lea/ (-- 7,a7 ! am\nt specifi$ 9 ! election made "u ?is subsection1 7,b7 ! cr$it det]m9$ "u subsection 7a7 = ! taxable ye> 7det]m9$ be=e ! application ( ?is subsection71 or 7,c7 9 ! case ( a qualifi$ small bus9ess o!r ?an a p>tn]%ip or ,s corporation1 ! am\nt ( ! bus9ess cr$it c>ry=w>d "u section #ci c>ri$ f ! taxable ye> 7det]m9$ be=e ! application ( ?is subsection to ! taxable ye>74 7#c7 ,qualifi$ small bus9ess ,= purposes ( ?is subsection-- 7,a7 ,9 g5]al ,! t]m qualifi$ small bus9ess means1 ) respect to any taxable ye>-- 7i7 a corporation or p>tn]%ip1 if-- 7,i7 ! gross receipts 7z det]m9$ "u ! rules ( section #ddh7;c77#c71 )\t reg>d to subp>agraph 7,a7 !re(7 ( su* entity = ! taxable ye> is less ?an #e1jjj1jjj1 & 7,,ii7 su* entity did n h gross receipts 7z s det]m9$7 = any taxable ye> prec$+ ! #e-taxable-ye> p]iod end+ ) su* taxable ye>1 & 7ii7 any p]son 7o!r ?an a corporation or p>tn]%ip7 :o meets ! requirem5ts ( subclauses 7,i7 & 7,,ii7 ( clause 7i71 det]m9$-- 7,i7 by sub/itut+ p]son = entity ea* place x appe>s1 & 7,,ii7 by only tak+ into acc\nt ! aggregate gross receipts receiv$ by su* p]son 9 c>ry+ on all trades or bus9esses ( su* p]son4 7,b7 ,limitation ,su* t]m %all n include an organization :i* is exempt f taxation "u section #eja4 7#d7 ,election 7,a7 ,9 g5]al ,any election "u ?is subsection = any taxable ye>-- 7i7 %all specify ! am\nt ( ! cr$it to :i* su* election applies1 7ii7 %all be made on or be=e ! due date 7includ+ ext5sions7 (-- 7,i7 9 ! case ( a qualifi$ small bus9ess :i* is a p>tn]%ip1 ! return requir$ to be fil$ "u section #fjca1 7,,ii7 9 ! case ( a qualifi$ small bus9ess :i* is an ,s corporation1 ! return requir$ to be fil$ "u section #fjcg1 & 7,,iii7 9 ! case ( any o!r qualifi$ small bus9ess1 ! return ( tax = ! taxable ye>1 & 7iii7 may be revok$ only ) ! cons5t ( ! ,secret>y4 7,b7 ,limitations 7i7 ,am\nt ,! am\nt specifi$ 9 any election made "u ?is subsection %all n exce$ #bej1jjj4 7ii7 ,numb] ( taxable ye>s ,a p]son may n make an election "u ?is subsection if su* p]son 7or any o!r p]son treat$ z a s+le taxpay] ) su* p]son "u p>agraph 7#e77;,a77 has made an election "u ?is subsection = #e or m prec$+ taxable ye>s4 7,c7 ,special rule = p>tn]%ips & ,s corporations ,9 ! case ( a qualifi$ small bus9ess :i* is a p>tn]%ip or ,s corporation1 ! election made "u ?is subsection %all be made at ! entity level4 7#e7 ,aggregation rules 7,a7 ,9 g5]al ,except z provid$ 9 subp>agraph 7,b71 all p]sons or entities treat$ z a s+le taxpay] "u subsection 7f77#a7 %all be treat$ z a s+le taxpay] = purposes ( ?is subsection4 7,b7 ,special rules ,= purposes ( ?is subsection & section #caaa7;f7-- 7i7 ea* ( ! p]sons treat$ z a s+le taxpay] "u subp>agraph 7,a7 may sep>ately make ! election "u p>agraph 7#a7 = any taxable ye>1 & 7ii7 ! #bej1jjj am\nt "u p>agraph 7#d77;,b77i7 %all be allocat$ among all p]sons treat$ z a s+le taxpay] "u subp>agraph 7,a7 9 ! same mann] z "u subp>agraph 7,a77ii7 or 7,b77ii7 ( subsection 7f77#a71 :i*ev] is applicable4 7#f7 ,regulations ,! ,secret>y %all prescribe su* regulations z may be necess>y to c>ry out ! purposes ( ?is subsection1 includ+-- 7,a7 regulations to prev5t ! avoidance ( ! purposes ( ! limitations & aggregation rules "u ?is subsection ?r\gh ! use ( successor companies or o!r means1 7,b7 regulations to m9imize compliance & record-keep+ burd5s "u ?is subsection1 & 7,c7 regulations = recaptur+ ! b5efit ( cr$its det]m9$ "u section #caaa7;f7 9 cases :]e !re is a subsequ5t adju/m5t to ! payroll tax cr$it portion ( ! cr$it det]m9$ "u subsection 7a71 includ+ requir+ am5d$ income tax returns 9 ! cases :]e !re is su* an adju/m5t4 4 7#b7 ,cr$it all[$ aga9/ ,,fica taxes ,section #caaa is am5d$ by add+ at ! end ! foll[+ new subsection3 7f7 ,cr$it = rese>* exp5ditures ( qualifi$ small bus9esses 7#a7 ,9 g5]al ,9 ! case ( a taxpay] :o has made an election "u section #da7;i7 = a taxable ye>1 !re %all be all[$ z a cr$it aga9/ ! tax impos$ by subsection 7a7 = ! fir/ cal5d> qu>t] :i* beg9s aft] ! date on :i* ! taxpay] files ! return specifi$ 9 section #da7;i77#d77;,a77ii7 an am\nt equal to ! payroll tax cr$it portion det]m9$ "u section #da7;i77#b74 7#b7 ,limitation ,! cr$it all[$ by p>agraph 7#a7 %all n exce$ ! tax impos$ by subsection 7a7 = any cal5d> qu>t] on ! wages paid ) respect to ! employm5t ( all individuals 9 ! employ ( ! employ]4 7#c7 ,c>ryov] ( unus$ cr$it ,if ! am\nt ( ! cr$it "u p>agraph 7#a7 exce$s ! limitation ( p>agraph 7#b7 = any cal5d> qu>t]1 su* excess %all be c>ri$ to ! succe$+ cal5d> qu>t] & all[$ z a cr$it "u p>agraph 7#a7 = su* qu>t]4 7#d7 ,d$uction all[$ = cr$it$ am\nts ,! cr$it all[$ "u p>agraph 7#a7 %all n be tak5 into acc\nt = purposes ( det]m9+ ! am\nt ( any d$uction all[$ "u *apt] #a = taxes impos$ "u subsection 7a74 4 7#c7 ,effective date ,! am5dm5ts made by ?is subsection %all apply to cr$its det]m9$ = taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjac4 7c7 ,cr$it all[$ aga9/ alt]native m9imum tax 7#a7 ,9 g5]al ,subp>agraph 7,b7 ( section #ch7;c77#d7 is am5d$-- 7,a7 by r$esignat+ clauses 7ii71 7iii71 7iv71 7v71 7vi71 7vii71 7viii71 & 7ix7 z clauses 7iii71 7iv71 7v71 7vi71 7vii71 7viii71 7ix71 & 7x71 respectively1 & 7,b7 by ins]t+ aft] clause 7i7 ! foll[+ new clause3 7ii7 ! cr$it det]m9$ "u section #da ) respect to an eligible small bus9ess 7z def9$ 9 p>agraph 7#e77;,c71 aft] application ( rules simil> to ! rules ( p>agraph 7#e77;,d771 4 7#b7 ,effective date ,! am5dm5ts made by ?is subsection %all apply to cr$its det]m9$ = taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjac1 & to c>rybacks ( su* cr$its4 #aab4 ,ext5sion & modification ( tempor>y m9imum l[-income h\s+ tax cr$it rate = non-f$]ally subsidiz$ build+s 7a7 ,9 g5]al ,subp>agraph 7,a7 ( section #db7;b77#b7 is am5d$ by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjaf4 7b7 ,tempor>y m9imum cr$it rate = non-f$]ally subsidiz$ exi/+ build+s ,subsection 7b7 ( section #db is am5d$ by r$esignat+ p>agraph 7#c7 z p>agraph 7#d7 & by ins]t+ aft] p>agraph 7#b7 ! foll[+ new p>agraph3 7#c7 ,tempor>y m9imum cr$it rate = non-f$]ally subsidiz$ exi/+ build+s ,9 ! case ( any exi/+ build+-- 7,a7 :i* is plac$ 9 s]vice by ! taxpay] aft] ! date ( ! enactm5t ( ! ,,expire ,act ( #bjad ) respect to h\s+ cr$it doll> am\nt allocations made be=e ,janu>y #a1 #bjaf1 & 7,b7 :i* is n f$]ally subsidiz$ = ! taxable ye>1 ! applicable p]c5tage %all n be less ?an #d p]c5t4 4 7c7 ,effective date ,! am5dm5ts made by ?is section %all take effect on ,janu>y #a1 #bjad4 #aac4 ,ext5sion ( milit>y h\s+ all[ance exclusion = det]m9+ :e!r a t5ant 9 c]ta9 c\nties is l[-income 7a7 ,9 g5]al ,subsection 7b7 ( section #cjje ( ! ,h\s+ ,assi/ance ,tax ,act ( #bjjh is am5d$ by /rik+ ,janu>y #a1 #bjad ea* place x appe>s & ins]t+ ,janu>y #a1 #bjaf4 7b7 ,effective date ,! am5dm5ts made by ?is section %all take effect z if includ$ 9 ! enactm5t ( section #cjje ( ! ,h\s+ ,assi/ance ,tax ,act ( #bjjh4 #aad4 ,ext5sion ( ,indian employm5t tax cr$it 7a7 ,9 g5]al ,subsection 7f7 ( section #de;,a is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjae4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjac4 #aae4 ,ext5sion & modification ( new m>kets tax cr$it 7a7 ,9 g5]al ,subp>agraph 7,g7 ( section #de;,d7f77#a7 is am5d$ by /rik+ & #bjac & ins]t+ #bjac1 #bjad1 & #bjae4 7b7 ,c>ryov] ( unus$ limitation ,p>agraph 7#c7 ( section #de;,d7f7 is am5d$ by /rik+ #bjah & ins]t+ #bjbj4 7c7 ,allocations designat$ = areas impact$ by decl9e 9 manufactur+ ,p>agraph 7#c7 ( section #de;,d7f71 z am5d$ by subsection 7b71 is am5d$-- 7#a7 by /rik+ ,if ! new m>kets tax cr$it limitation & ins]t+ ! foll[+3 7,a7 ,9 g5]al ,if ! new m>kets tax cr$it limitation 1 7#b7 by /rik+ ,no 9 ! la/ s5t5ce & ins]t+ ,except z provid$ 9 subp>agraph 7,b71 no1 & 7#c7 by add+ at ! end1 ! foll[+ new subp>agraph3 7,b7 ,c]ta9 am\nts available = areas impact$ by decl9e 9 manufactur+ ,any am\nt c>ri$ to a cal5d> ye> aft] ! ye> describ$ 9 ! second s5t5ce ( subp>agraph 7,a7 %all be available only = allocation to qualifi$ community developm5t entities a significant mission ( :i* is provid+ inve/m5ts & s]vices to p]sons 9 ! trade or bus9ess ( manufactur+ products 9 communities :i* h suff]$ major manufactur+ job losses or a major manufactur+ job loss ev5t1 z designat$ by ! ,secret>y4 4 7d7 ,effective date ,! am5dm5ts made by ?is section %all apply to cal5d> ye>s beg9n+ aft] ,decemb] #ca1 #bjac4 #aaf4 ,ext5sion ( railroad track ma9t5ance cr$it 7a7 ,9 g5]al ,subsection 7f7 ( section #de;,g is am5d$ by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjaf4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to exp5ditures paid or incurr$ 9 taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjac4 #aag4 ,ext5sion ( m9e rescue team tra9+ cr$it 7a7 ,9 g5]al ,subsection 7e7 ( section #de,n is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjae4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjac4 #aah4 ,ext5sion & modification ( employ] wage cr$it = employees :o are active duty memb]s ( ! uni=m$ s]vices 7a7 ,9 g5]al ,subsection 7f7 ( section #de,p is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjae4 7b7 ,applicability to all employ]s 7#a7 ,9 g5]al ,subsection 7a7 ( section #de,p is am5d$ by /rik+ 1 9 ! case ( an eligible small bus9ess employ]4 7#b7 ,con=m+ am5dm5t ,p>agraph 7#c7 ( section #de,p7b7 is am5d$ to read z foll[s3 7#c7 ,controll$ gr\ps ,all p]sons treat$ z a s+le employ] "u subsection 7b71 7c71 7m71 or 7o7 ( section #dad %all be treat$ z a s+le employ]4 4 7c7 ,expansion to #ajj p]c5t ( eligible diff]5tial wage paym5ts ,subsection 7a7 ( section #de,p is am5d$ by /rik+ #bj p]c5t ( ! sum & ins]t+ ! sum4 7d7 ,effective date ,! am5dm5ts made by ?is section %all apply to paym5ts made aft] ,decemb] #ca1 #bjac4 #aai4 ,ext5sion & modification ( "w opportunity tax cr$it 7a7 ,9 g5]al ,p>agraph 7#d7 ( section #ea7;c7 is am5d$ by /rik+ = ! employ] & all t foll[s & ins]t+ = ! employ] aft] ,decemb] #ca1 #bjae4 7b7 ,cr$it = hir+ long-t]m unemploym5t recipi5ts 7#a7 ,9 g5]al ,p>agraph 7#a7 ( section #ea7;d7 is am5d$ by /rik+ or at ! end ( subp>agraph 7,h71 by /rik+ ! p]iod at ! end ( subp>agraph 7,i7 & ins]t+ 1 or1 & by add+ at ! end ! foll[+ new subp>agraph3 7,j7 a qualifi$ long-t]m unemploym5t recipi5t4 4 7#b7 ,qualifi$ long-t]m unemploym5t recipi5t ,subsection 7d7 ( section #ea is am5d$ by add+ at ! end ! foll[+ new p>agraph3 7#ae7 ,qualifi$ long-t]m unemploym5t recipi5t ,! t]m qualifi$ long-t]m unemploym5t recipi5t means any individual :o is c]tifi$ by ! designat$ local ag5cy z be+ 9 a p]iod ( unemploym5t :i*-- 7,a7 is n less ?an #bg consecutive weeks1 & 7,b7 includes a p]iod 9 :i* ! individual 0 receiv+ unemploym5t comp5sation "u ,/ate or ,f$]al law4 4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to individuals :o beg9 "w = ! employ] aft] ,decemb] #ca1 #bjac4 #abj4 ,ext5sion & modification ( qualifi$ zone academy bonds 7a7 ,ext5sion ,p>agraph 7#a7 ( section #ed;,e7c7 is am5d$ by /rik+ & #bjac & ins]t+ #bjac1 #bjad1 & #bjae4 7b7 ,r$uction ( private bus9ess contribution requirem5t ,subsection 7b7 ( section #ed;,e is am5d$ by /rik+ #aj p]c5t & ins]t+ #e p]c5t4 7c7 ,effective date ,! am5dm5ts made by subsections 7a7 & 7b7 %all apply to obligations issu$ aft] ,decemb] #ca1 #bjac4 7d7 ,te*nical correction & con=m+ am5dm5t 7#a7 ,9 g5]al ,clause 7iii7 ( section #fdca7;f77#c77;,a7 is am5d$-- 7,a7 by /rik+ #bjaa & ins]t+ ye>s aft] #bjaj1 & 7,b7 by /rik+ ( su* allocation & ins]t+ ( any su* allocation4 7#b7 ,effective date ,! am5dm5ts made by ?is subsection %all take effect z if includ$ 9 section #caj ( ! ,am]ican ,taxpay] ,relief ,act ( #bjab4 #aba4 ,ext5sion ( classification ( c]ta9 race horses z #c-ye> prop]ty 7a7 ,9 g5]al ,clause 7i7 ( section #afh7;e77#c77;,a7 is am5d$-- 7#a7 by /rik+ ,janu>y #a1 #bjad 9 subclause 7,i7 & ins]t+ ,janu>y #a1 #bjaf1 & 7#b7 by /rik+ ,decemb] #ca1 #bjac 9 subclause 7,,ii7 & ins]t+ ,decemb] #ca1 #bjae4 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjac4 #abb4 ,ext5sion ( #ae-ye> /raight-l9e co/ recov]y = qualifi$ leasehold improvem5ts1 qualifi$ re/aurant build+s & improvem5ts1 & qualifi$ retail improvem5ts 7a7 ,9 g5]al ,clauses 7iv71 7v71 & 7ix7 ( section #afh7;e77#c77;,e7 are ea* am5d$ by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjaf4 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjac4 #abc4 ,ext5sion ( #g-ye> recov]y p]iod = motorsports ent]ta9m5t complexes 7a7 ,9 g5]al ,subp>agraph 7,d7 ( section #afh7;i77#ae7 is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjae4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjac4 #abd4 ,ext5sion ( accel]at$ depreciation = bus9ess prop]ty on an ,indian res]vation 7a7 ,9 g5]al ,p>agraph 7#h7 ( section #afh7;j7 is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjae4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjac4 #abe4 ,ext5sion ( bonus depreciation 7a7 ,9 g5]al ,p>agraph 7#b7 ( section #afh7k7 is am5d$-- 7#a7 by /rik+ ,janu>y #a1 #bjae 9 subp>agraph 7,a77iv7 & ins]t+ ,janu>y #a1 #bjag1 & 7#b7 by /rik+ ,janu>y #a1 #bjad ea* place x appe>s & ins]t+ ,janu>y #a1 #bjaf4 7b7 ,special rule = ,f$]al long-,t]m contracts ,clause 7ii7 ( section #dfj7;c77#f77;,b7 is am5d$ by /rik+ ,janu>y #a1 #bjad 7,janu>y #a1 #bjae & ins]t+ ,janu>y #a1 #bjaf 7,janu>y #a1 #bjag4 7c7 ,ext5sion ( election ,to accel]ate ! ,,amt cr$it 9 lieu ( bonus depreciation 7#a7 ,9 g5]al ,subclause 7,,ii7 ( section #afh7k77#d77;,d77iii7 is am5d$ by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjaf4 7#b7 ,r\nd #d ext5sion prop]ty ,p>agraph 7#d7 ( section #afh7k7 is am5d$ by add+ at ! end ! foll[+ new subp>agraph3 7,k7 ,special rules = r\nd #d ext5sion prop]ty 7i7 ,9 g5]al ,9 ! case ( r\nd #d ext5sion prop]ty1 9 apply+ ?is p>agraph to any taxpay]-- 7,i7 ! limitation describ$ 9 subp>agraph 7,b77i7 & ! bus9ess cr$it increase am\nt "u subp>agraph 7,e77iii7 !re( %all n apply1 & 7,,ii7 ! bonus depreciation am\nt1 maximum am\nt1 & maximum increase am\nt %all be comput$ sep>ately f am\nts comput$ ) respect to eligible qualifi$ prop]ty :i* is n r\nd #d ext5sion prop]ty4 7ii7 ,election 7,i7 ,a taxpay] :o has an election 9 effect "u ?is p>agraph = r\nd #c ext5sion prop]ty %all be treat$ z hav+ an election 9 effect = r\nd #d ext5sion prop]ty unless ! taxpay] elects to n h ?is p>agraph apply to r\nd #d ext5sion prop]ty4 7,,ii7 ,a taxpay] :o does n h an election 9 effect "u ?is p>agraph = r\nd #c ext5sion prop]ty may elect to h ?is p>agraph apply to r\nd #d ext5sion prop]ty4 7iii7 ,r\nd #d ext5sion prop]ty ,= purposes ( ?is subp>agraph1 ! t]m r\nd #d ext5sion prop]ty means prop]ty :i* is eligible qualifi$ prop]ty solely by reason ( ! ext5sion ( ! application ( ! special all[ance "u p>agraph 7#a7 pursuant to ! am5dm5ts made by section #bae7;a7 ( ! ,,expire ,act ( #bjad 7& ! application ( su* ext5sion to ?is p>agraph pursuant to ! am5dm5t made by section #bae7;c7 ( su* ,act74 4 7d7 ,con=m+ am5dm5ts 7#a7 ,! head+ = subsection 7k7 ( section #afh is am5d$ by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjaf4 7#b7 ,! head+ = clause 7ii7 ( section #afh7k77#b77;,b7 is am5d$ by /rik+ pre-,janu>y #a1 #bjad & ins]t+ pre-,janu>y #a1 #bjaf4 7#c7 ,subp>agraph 7,c7 ( section #afh7n77#b7 is am5d$ by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjaf4 7#d7 ,subp>agraph 7,d7 ( section #adjj,l7b77#b7 is am5d$ by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjaf4 7#e7 ,subp>agraph 7,b7 ( section #adjj,n7d77#c7 is am5d$ by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjaf4 7e7 ,te*nical am5dm5t relat+ to section #cca ( ! ,am]ican ,taxpay] ,relief ,act ( #bjab 7#a7 ,9 g5]al ,clause 7iii7 ( section #afh7k77#d77;,j7 is am5d$ by /rik+ any taxable ye> & ins]t+ its fir/ taxable ye>4 7#b7 ,effective date ,! am5dm5t made by ?is subsection %all take effect z if includ$ 9 ! provision ( ! ,am]ican ,taxpay] ,relief ,act ( #bjab to :i* x relates4 7f7 ,effective date ,except z provid$ 9 subsection 7e77#b71 ! am5dm5ts made by ?is section %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjac1 9 taxable ye>s end+ aft] su* date4 #abf4 ,ext5sion ( enhanc$ *>itable d$uction = contributions ( food inv5tory 7a7 ,9 g5]al ,clause 7iv7 ( section #agj7;e77#c77;,c7 is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjae4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to contributions made aft] ,decemb] #ca1 #bjac4 #abg4 ,ext5sion & modification ( increas$ exp5s+ limitations & treatm5t ( c]ta9 real prop]ty z section #agi prop]ty 7a7 ,9 g5]al 7#a7 ,doll> limitation ,section #agi7;b77#a7 is am5d$-- 7,a7 by /rik+ beg9n+ 9 #bjaj1 #bjaa1 #bjab1 or #bjac 9 subp>agraph 7,b7 & ins]t+ beg9n+ aft] #bjji & be=e #bjaf1 & 7,b7 by /rik+ #bjac 9 subp>agraph 7,c7 & ins]t+ #bjae4 7#b7 ,r$uction 9 limitation ,section #agi7;b77#b7 is am5d$-- 7,a7 by /rik+ beg9n+ 9 #bjaj1 #bjaa1 #bjab1 or #bjac 9 subp>agraph 7,b7 & ins]t+ beg9n+ aft] #bjji & be=e #bjaf1 & 7,b7 by /rik+ #bjac 9 subp>agraph 7,c7 & ins]t+ #bjae4 7b7 ,comput] s(tw>e ,section #agi7;d77#a77;,a77ii7 is am5d$ by /rik+ #bjad & ins]t+ #bjaf4 7c7 ,election ,section #agi7;c77#b7 is am5d$ by /rik+ #bjad & ins]t+ #bjaf4 7d7 ,special rules = treatm5t ( qualifi$ real prop]ty 7#a7 ,9 g5]al ,section #agi7;f77#a7 is am5d$ by /rik+ beg9n+ 9 #bjaj1 #bjaa1 #bjab1 or #bjac & ins]t+ beg9n+ aft] #bjji & be=e #bjaf4 7#b7 ,c>ryov] limitation 7,a7 ,9 g5]al ,section #agi7;f77#d7 is am5d$ by /rik+ #bjac ea* place x appe>s & ins]t+ #bjae4 7,b7 ,con=m+ am5dm5t ,! head+ ( subp>agraph 7,c7 ( section #agi7;f77#d7 is am5d$ by /rik+ #bjaa & #bjab & ins]t+ #bjaa1 #bjab1 #bjac1 & #bjad4 7e7 ,adju/m5t = inflation ,subsection 7b7 ( section #agi ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by add+ at ! end ! foll[+ new p>agraph3 7#f7 ,inflation adju/m5t 7,a7 ,9 g5]al ,9 ! case ( any taxable ye> beg9n+ aft] #bjac1 ! #ejj1jjj am\nt 9 p>agraph 7#a77;,b7 & ! #b1jjj1jjj am\nt 9 p>agraph 7#b77;,b7 %all ea* be increas$ by an am\nt equal to-- 7i7 su* doll> am\nt1 multipli$ by 7ii7 ! co/-(-liv+ adju/m5t det]m9$ "u section #a7;f77#c7 = ! cal5d> ye> 9 :i* ! taxable ye> beg9s1 by sub/itut+ cal5d> ye> #bjab = cal5d> ye> #aiib 9 subp>agraph 7,b7 !re(4 7,b7 ,r\nd+ 7i7 ,doll> limitation ,if ! am\nt 9 p>agraph 7#a77;,b7 z increas$ "u subp>agraph 7,a7 is n a multiple ( #a1jjj1 su* am\nt %all be r\nd$ to ! ne>e/ multiple ( #a1jjj4 7ii7 ,phase\t am\nt ,if ! am\nt 9 p>agraph 7#b77;,b7 z increas$ "u subp>agraph 7,a7 is n a multiple ( #aj1jjj1 su* am\nt %all be r\nd$ to ! ne>e/ multiple ( #aj1jjj4 4 7f7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjac4 #abh4 ,ext5sion ( election to exp5se m9e safety equipm5t 7a7 ,9 g5]al ,subsection 7g7 ( section #agi;,e is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjae4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjac4 #abi4 ,ext5sion ( special exp5s+ rules = c]ta9 film & television productions2 special exp5s+ = live !atrical productions 7a7 ,9 g5]al ,subsection 7f7 ( section #aha is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjae4 7b7 ,application to live productions 7#a7 ,9 g5]al ,p>agraph 7#a7 ( section #aha7;a7 is am5d$ by ins]t+ 1 & any qualifi$ live !atrical production1 aft] any qualifi$ film or television production4 7#b7 ,con=m+ am5dm5ts ,section #aha is am5d$-- 7,a7 by ins]t+ or any qualifi$ live !atrical production aft] qualifi$ film or television production ea* place x appe>s 9 subsections 7a77#b71 7b71 & 7c77#a71 7,b7 by ins]t+ or qualifi$ live !atrical productions aft] qualifi$ film or television productions 9 subsection 7f71 & 7,c7 by ins]t+ & live !atrical aft] film & television 9 ! head+4 7#c7 ,cl]ical am5dm5t ,! item relat+ to section #aha 9 ! table ( sections = "p ,,vi ( sub*apt] ,b ( *apt] #a is am5d$ to read z foll[s3 ,sec4 #aha4 ,treatm5t ( c]ta9 qualifi$ film & television & live !atrical productions4 4 7c7 ,qualifi$ live !atrical production ,section #aha is am5d$-- 7#a7 by r$esignat+ subsections 7e7 & 7f71 z am5d$ by subsections 7a7 & 7b71 z subsections 7f7 & 7g71 respectively1 & 7#b7 by ins]t+ aft] subsection 7d7 ! foll[+ new subsection3 7e7 ,qualifi$ live !atrical production ,= purposes ( ?is section-- 7#a7 ,9 g5]al ,! t]m qualifi$ live !atrical production means any production describ$ 9 p>agraph 7#b7 if #ge p]c5t ( ! total comp5sation ( ! production is qualifi$ comp5sation 7z def9$ 9 subsection 7d77#c774 7#b7 ,production 7,a7 ,9 g5]al ,a production is describ$ 9 ?is p>agraph if su* production is a live /ag$ production ( a play 7) or )\t music7 :i* is d]iv$ f a writt5 book or script & is produc$ or pres5t$ by a taxable entity 9 any v5ue :i* has an audi5ce capacity ( n m ?an #c1jjj or a s]ies ( v5ues ! majority ( :i* h an audi5ce capacity ( n m ?an #c1jjj4 7,b7 ,t\r+ companies1 etc ,9 ! case ( multiple live /ag$ productions-- 7i7 = :i* ! election "u ?is section w\ld be all[able to ! same taxpay]1 & 7ii7 :i* are-- 7,i7 sep>ate phases ( a production1 or 7,,ii7 sep>ate simultane\s /ag+s ( ! same production 9 diff]5t geographical locations 7n includ+ multiple p]=mance locations ( any "o t\r+ production71 ea* su* live /ag$ production %all be treat$ z a sep>ate production4 7,c7 ,phase ,= purposes ( subp>agraph 7,b71 ! t]m phase ) respect to any qualifi$ live !atrical production ref]s to ea* ( ! foll[+1 b only if ea* ( ! foll[+ is treat$ by ! taxpay] z a sep>ate activity = all purposes ( ?is title3 7i7 ,! initial /ag+ ( a live !atrical production4 7ii7 ,subsequ5t additional /ag+s or t\r+ ( su* production :i* are produc$ by ! same produc] z ! initial /ag+4 7,d7 ,exception ,a production is n describ$ 9 ?is p>agraph if su* production includes or consi/s ( any p]=mance ( conduct describ$ 9 section #bbeg7;h77#a7 ( title #ah1 ,unit$ ,/ates ,code4 4 7d7 ,effective dates 7#a7 ,9 g5]al ,! am5dm5ts made by ?is section %all apply to productions comm5c+ aft] ,decemb] #ca1 #bjac4 7#b7 ,comm5cem5t ,= purposes ( p>agraph 7#a71 ! date on :i* a qualifi$ live !atrical production comm5ces is ! date ( ! fir/ public p]=mance ( su* production = a pay+ audi5ce4 #acj4 ,ext5sion ( d$uction all[able ) respect to income attributable to dome/ic production activities 9 ,pu]to ,rico 7a7 ,9 g5]al ,subp>agraph 7,c7 ( section #aii7;d77#h7 is am5d$-- 7#a7 by /rik+ fir/ #h taxable ye>s & ins]t+ fir/ #aj taxable ye>s1 & 7#b7 by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjaf4 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjac4 #aca4 ,ext5sion ( modification ( tax treatm5t ( c]ta9 paym5ts to controll+ exempt organizations 7a7 ,9 g5]al ,clause 7iv7 ( section #eab7;b77#ac77;,e7 is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjae4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to paym5ts receiv$ or accru$ aft] ,decemb] #ca1 #bjac4 #acb4 ,ext5sion ( treatm5t ( c]ta9 divid5ds ( regulat$ inve/m5t companies 7a7 ,9 g5]al ,p>agraphs 7#a77;,c77v7 & 7#b77;,c77v7 ( section #hga7k7 are ea* am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjae4 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjac4 #acc4 ,ext5sion ( ,,ric qualifi$ inve/m5t entity treatm5t "u ,,firpta 7a7 ,9 g5]al ,clause 7ii7 ( section #hig7;h77#d77;,a7 is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjae4 7b7 ,effective date 7#a7 ,9 g5]al ,! am5dm5t made by ?is section %all take effect on ,janu>y #a1 #bjad4 ,not)/&+ ! prec$+ s5t5ce1 su* am5dm5t %all n apply ) respect to ! )hold+ requirem5t "u section #adde ( ! ,int]nal ,rev5ue ,code ( #aihf = any paym5t made be=e ! date ( ! enactm5t ( ?is ,act4 7#b7 ,am\nts )held on or be=e date ( enactm5t ,9 ! case ( a regulat$ inve/m5t company-- 7,a7 :i* makes a di/ribution aft] ,decemb] #ca1 #bjac1 & be=e ! date ( ! enactm5t ( ?is ,act1 & 7,b7 :i* w\ld 7b = ! second s5t5ce ( p>agraph 7#a77 h be5 requir$ to )hold ) respect to su* di/ribution "u section #adde ( su* ,code1 su* inve/m5t company %all n be liable to any p]son to :om su* di/ribution 0 made = any am\nt s )held & paid ov] to ! ,secret>y ( ! ,treasury4 #acd4 ,ext5sion ( subp>t ,f exception = active f9anc+ income 7a7 ,exempt insurance income ,p>agraph 7#aj7 ( section #iec7;e7 is am5d$-- 7#a7 by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjaf1 & 7#b7 by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjae4 7b7 ,special rule = income d]iv$ 9 ! active conduct ( bank+1 f9anc+1 or simil> bus9esses ,p>agraph 7#i7 ( section #ied7;h7 is am5d$ by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjaf4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s ( =eign corporations beg9n+ aft] ,decemb] #ca1 #bjac1 & to taxable ye>s ( ,unit$ ,/ates %>ehold]s ) or )9 :i* any su* taxable ye> ( su* =eign corporation ends4 #ace4 ,ext5sion ( look-?ru treatm5t ( paym5ts betwe5 relat$ controll$ =eign corporations "u =eign p]sonal hold+ company rules 7a7 ,9 g5]al ,subp>agraph 7,c7 ( section #ied7;c77#f7 is am5d$ by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjaf4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to taxable ye>s ( =eign corporations beg9n+ aft] ,decemb] #ca1 #bjac1 & to taxable ye>s ( ,unit$ ,/ates %>ehold]s ) or )9 :i* su* taxable ye>s ( =eign corporations end4 #acf4 ,ext5sion ( tempor>y exclusion ( #ajj p]c5t ( ga9 on c]ta9 small bus9ess /ock 7a7 ,9 g5]al ,p>agraph 7#d7 ( section #abjb7;a7 is am5d$-- 7#a7 by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjaf1 & 7#b7 by /rik+ & #bjac 9 ! head+ & ins]t+ #bjac1 #bjad1 & #bjae4 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to /ock acquir$ aft] ,decemb] #ca1 #bjac4 #acg4 ,ext5sion ( basis adju/m5t to /ock ( ,s corporations mak+ *>itable contributions ( prop]ty 7a7 ,9 g5]al ,p>agraph 7#b7 ( section #acfg7;a7 is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjae4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to contributions made 9 taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjac4 #ach4 ,ext5sion ( r$uction 9 ,s-corporation recognition p]iod = built-9 ga9s tax 7a7 ,9 g5]al ,subp>agraph 7,c7 ( section #acgd7;d77#g7 is am5d$-- 7#a7 by /rik+ #bjab or #bjac & ins]t+ #bjab1 #bjac1 #bjad1 or #bjae1 & 7#b7 by /rik+ #bjab & #bjac 9 ! head+ & ins]t+ #bjab1 #bjac1 #bjad1 & #bjae4 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjac4 #aci4 ,ext5sion ( emp[]m5t zone tax inc5tives 7a7 ,9 g5]al ,clause 7i7 ( section #acia7;d77#a77;,a7 is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjae4 7b7 ,treatm5t ( c]ta9 t]m9ation dates specifi$ 9 nom9ations ,9 ! case ( a designation ( an emp[]m5t zone ! nom9ation = :i* includ$ a t]m9ation date :i* is contemporane\s ) ! date specifi$ 9 subp>agraph 7,a77i7 ( section #acia7;d77#a7 ( ! ,int]nal ,rev5ue ,code ( #aihf 7z 9 effect be=e ! enactm5t ( ?is ,act71 subp>agraph 7,b7 ( su* section %all n apply ) respect to su* designation if1 aft] ! date ( ! enactm5t ( ?is section1 ! entity :i* made su* nom9ation am5ds ! nom9ation to provide = a new t]m9ation date 9 su* mann] z ! ,secret>y ( ! ,treasury 7or ! ,secret>y's designee7 may provide4 7c7 ,te*nical am5dm5ts relat+ to section #gec ( ! ,tax ,relief1 ,unemploym5t ,insurance ,reau?orization1 & ,job ,creation ,act ( #bjaj2 ext5sion ( nonrecognition ( ga9 on rollov] ( emp[]m5t zone inve/m5ts ,subp>agraph 7,a7 ( section #acig;,b7b77#a7 is am5d$ by /rik+ & at ! end ( clause 7ii71 by /rik+ ! p]iod at ! end ( clause 7iii7 & ins]t+ 1 &1 & by add+ at ! end ! foll[+ new clause3 7iv7 ,janu>y #a1 #bjaf 7 sub/itut$ = ,janu>y #a1 #bjaj ea* place x appe>s4 4 7d7 ,effective dates 7#a7 ,9 g5]al ,! am5dm5t made by subsection 7a7 %all apply to p]iods aft] ,decemb] #ca1 #bjac4 7#b7 ,te*nical am5dm5ts ,! am5dm5ts made by subsection 7c7 %all take effect z if includ$ 9 section #gec ( ! ,tax ,relief1 ,unemploym5t ,insurance ,reau?orization1 & ,job ,creation ,act ( #bjaj4 #adj4 ,ext5sion ( tempor>y increase 9 limit on cov] ov] ( rum excise taxes to ,pu]to ,rico & ! ,virg9 ,isl&s 7a7 ,9 g5]al ,p>agraph 7#a7 ( section #gfeb7;f7 is am5d$ by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjaf4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to di/ill$ spirits br\ght into ! ,unit$ ,/ates aft] ,decemb] #ca1 #bjac4 #ada4 ,ext5sion ( ,am]ican ,samoa economic developm5t cr$it 7a7 ,9 g5]al ,subsection 7d7 ( section #aai ( division ,a ( ! ,tax ,relief & ,heal? ,c>e ,act ( #bjjf is am5d$-- 7#a7 by /rik+ ,janu>y #a1 #bjad ea* place x appe>s & ins]t+ ,janu>y #a1 #bjaf1 7#b7 by /rik+ fir/ #h taxable ye>s 9 p>agraph 7#a7 & ins]t+ fir/ #aj taxable ye>s1 & 7#c7 by /rik+ fir/ #b taxable ye>s 9 p>agraph 7#b7 & ins]t+ fir/ #d taxable ye>s4 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjac4 ,c ,en]gy tax ext5d]s #aea4 ,ext5sion & modification ( cr$it = nonbus9ess en]gy prop]ty 7a7 ,9 g5]al ,p>agraph 7#b7 ( section #be;,c7g7 is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjae4 7b7 ,updat$ ,en]gy ,/> requirem5ts = w9d[s1 doors1 skylights1 & ro(+ 7#a7 ,9 g5]al ,p>agraph 7#a7 ( section #be;,c7c7 is am5d$ by /rik+ :i* meets & all t foll[s ?r\gh requirem5ts74 7#b7 ,en]gy effici5t build+ envelope compon5t ,subsection 7c7 ( section #be;,c is am5d$ by r$esignat+ p>agraphs 7#b7 & 7#c7 z p>agraphs 7#c7 & 7#d71 respectively1 & by ins]t+ aft] p>agraph 7#a7 ! foll[+ new p>agraph3 7#b7 ,en]gy effici5t build+ envelope compon5t ,! t]m en]gy effici5t build+ envelope compon5t means a build+ envelope compon5t :i* meets-- 7,a7 applicable ,en]gy ,/> program requirem5ts1 9 ! case ( a ro( or ro( products1 7,b7 v]sion #f4j ,en]gy ,/> program requirem5ts1 9 ! case ( an ext]ior w9d[1 a skylight1 or an ext]ior door1 & 7,c7 ! prescriptive crit]ia = su* compon5t e/abli%$ by ! #bjji ,int]national ,en]gy ,cons]vation ,code1 z su* ,code 7includ+ supplem5ts7 is 9 effect on ! date ( ! enactm5t ( ! ,am]ican ,recov]y & ,re9ve/m5t ,tax ,act ( #bjji1 9 ! case ( any o!r compon5t4 4 7#c7 ,con=m+ am5dm5t ,subp>agraph 7,d7 ( section #be;,c7c77#c71 z s r$esignat$1 is am5d$ to read z foll[s3 7,d7 any ro( or ro( products :i* are in/all$ on a dwell+ unit & are specifically & prim>ily design$ to r$uce ! heat ga9 ( su* dwell+ unit4 4 7c7 ,sep>ate /&>ds = tankless & /orage wat] heat]s 7#a7 ,9 g5]al ,subp>agraph 7,d7 ( section #be;,c7d77#c7 is am5d$ by /rik+ :i* has ei!r & all t foll[s & ins]t+ 8:i* has ei!r-- 7i7 9 ! case ( a /orage wat] heat]1 an en]gy factor ( at lea/ #j4hj or a !rmal effici5cy ( at lea/ #ij p]c5t1 & 7ii7 9 ! case ( any o!r wat] heat]1 an en]gy factor ( at lea/ #j4ij or a !rmal effici5cy ( at lea/ #ij p]c5t1 & 4 7#b7 ,/orage wat] heat]s ,p>agraph 7#c7 ( section #be;,c7d7 is am5d$ by add+ at ! end ! foll[+ flu% s5t5ce3 ,= purposes ( subp>agraph 7,d77i71 ! t]m /orage wat] heat] means a wat] heat] t has a wat] /orage capacity ( m ?an #bj gallons b n m ?an #ee gallons4 4 7d7 ,modification ( te/+ /&>ds = biomass /oves ,subp>agraph 7,e7 ( section #be;,c7d77#c7 is am5d$ by ins]t+ be=e ! p]iod ! foll[+3 1 :5 te/$ us+ ! high] heat+ value ( ! fuel & 9 accordance ) ! ,canadian ,/&>ds ,adm9i/ration ,b#dae4a te/ protocol4 7e7 ,sep>ate /&>d = oil hot wat] boil]s ,p>agraph 7#d7 ( section #be;,c7d7 is am5d$ by /rik+ #ie & ins]t+ #ie 7#ij 9 ! case ( an oil hot wat] boil]74 7f7 ,effective date ,! am5dm5ts made by ?is section %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjac4 #aeb4 ,ext5sion ( cr$it = #b-:eel$ plug-9 electric vehicles 7a7 ,9 g5]al ,subp>agraph 7,e7 ( section #cj;,d7g77#c7 is am5d$ by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjad 7,janu>y #a1 #bjaf1 9 ! case ( a vehicle t has #b :eels744 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to vehicles acquir$ aft] ,decemb] #ca1 #bjac4 #aec4 ,ext5sion ( second g5]ation bi(uel produc] cr$it 7a7 ,9 g5]al ,clause 7i7 ( section #dj7;b77#f77;,j7 is am5d$ by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjaf4 7b7 ,effective date ,! am5dm5t made by ?is subsection %all apply to qualifi$ second g5]ation bi(uel production aft] ,decemb] #ca1 #bjac4 #aed4 ,ext5sion ( inc5tives = biodiesel & r5ewable diesel 7a7 ,cr$its = biodiesel & r5ewable diesel us$ z fuel ,subsection 7g7 ( section #dj;,a is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjae4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to fuel sold or us$ aft] ,decemb] #ca1 #bjac4 #aee4 ,ext5sion & modification ( production cr$it = ,indian coal facilities plac$ 9 s]vice be=e #bjji 7a7 ,9 g5]al ,subp>agraph 7,a7 ( section #de7;e77#aj7 is am5d$ by /rik+ #h-ye> p]iod ea* place x appe>s & ins]t+ #aj-ye> p]iod4 7b7 ,application to new leases or subleases ,p>agraph 7#aj7 ( section #de7;d7 is am5d$ by ins]t+ be=e ! p]iod ! foll[+3 1 & any new lease or sublease ( su* a facility4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to coal produc$ aft] ,decemb] #ca1 #bjac4 #aef4 ,ext5sion ( cr$its ) respect to facilities produc+ en]gy f c]ta9 r5ewable res\rces 7a7 ,9 g5]al ,! foll[+ provisions ( section #de7;d7 are ea* am5d$ by /rik+ ,janu>y #a1 #bjad ea* place x appe>s & ins]t+ ,janu>y #a1 #bjaf3 7#a7 ,p>agraph 7#a74 7#b7 ,p>agraph 7#b77;,a74 7#c7 ,p>agraph 7#c77;,a74 7#d7 ,p>agraph 7#d77;,b74 7#e7 ,p>agraph 7#f74 7#f7 ,p>agraph 7#g74 7#g7 ,p>agraph 7#i74 7#h7 ,p>agraph 7#aa77;,b74 7b7 ,ext5sion ( election to treat qualifi$ facilities z en]gy prop]ty ,clause 7ii7 ( section #dh7;a77#e77;,c7 is am5d$ by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjaf4 7c7 ,effective dates ,! am5dm5ts made by ?is section %all take effect on ,janu>y #a1 #bjad4 #aeg4 ,ext5sion ( cr$it = en]gy-effici5t new homes 7a7 ,9 g5]al ,subsection 7g7 ( section #de,l is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjae4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to homes acquir$ aft] ,decemb] #ca1 #bjac4 #aeh4 ,ext5sion ( special all[ance = second g5]ation bi(uel plant prop]ty 7a7 ,9 g5]al ,subp>agraph 7,d7 ( section #afh7l77#b7 is am5d$ by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjaf4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjac4 #aei4 ,ext5sion & modification ( en]gy effici5t comm]cial build+s d$uction 7a7 ,9 g5]al ,subsection 7h7 ( section #agi;,d is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjae4 7b7 ,allocations to ,indian tribal gov]nm5ts ,p>agraph 7#d7 ( section #agi;,d7d7 is am5d$ by /rik+ or local & ins]t+ local1 or ,indian tribal4 7c7 ,allocations to c]ta9 nonpr(it organizations 7#a7 ,9 g5]al ,p>agraph 7#d7 ( section #agi;,d7d71 z am5d$ by subsection 7b71 is am5d$ by ins]t+ 1 or by an organization t is describ$ 9 section #eja7;c77#c7 & exempt f tax "u section #eja7;a7 aft] political subdivision !re(4 7#b7 ,cl]ical am5dm5t ,! head+ ( p>agraph 7#d7 ( section #agi;,d7d7 is am5d$ by ins]t+ & prop]ty held by c]ta9 non-pr(its aft] public prop]ty4 7d7 ,updat$ ,,a%rae /&>ds = #bjae 7#a7 ,9 g5]al ,p>agraph 7#a7 ( section #agi;,d7c7 is am5d$ by /rik+ ,/&>d #ij4a-bjja ea* place x appe>s & ins]t+ ,/&>d #ij4a-bjjg4 7#b7 ,con=m+ am5dm5ts 7,a7 ,p>agraph 7#b7 ( section #agi;,d7c7 is am5d$ to read z foll[s3 7#b7 ,/&>d #ij4a-bjjg ,! t]m ,/&>d #ij4a-bjjg means ,/&>d #ij4a-bjjg ( ! ,am]ican ,society ( ,heat+1 ,refrig]at+1 & ,air ,condition+ ,eng9e]s & ! ,illum9at+ ,eng9e]+ ,society ( ,nor? ,am]ica 7z 9 effect on ! day be=e ! date ( ! adoption ( ,/&>d #ij4a-bjaj ( su* ,societies74 4 7,b7 ,subsection 7f7 ( section #agi;,d is am5d$ by /rik+ ,/&>d #ij4a-bjja ea* place x appe>s 9 p>agraphs 7#a7 & 7#b77;,c77i7 & ins]t+ ,/&>d #ij4a-bjjg4 7,c7 ,p>agraph 7#a7 ( section #agi;,d7f7 is am5d$-- 7i7 by /rik+ ,table #i4c4a4a & ins]t+ ,table #i4e4a1 & 7ii7 by /rik+ ,table #i4c4a4b & ins]t+ ,table #i4f4a4 7#c7 ,effective date ,! am5dm5ts made by ?is p>agraph %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjad4 7e7 ,effective date ,except z provid$ 9 subsection 7d77#c71 ! am5dm5ts made by ?is section %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjac4 #afj4 ,ext5sion ( special rule = sales or dispositions to implem5t ,,f]c or ,/ate electric re/ructur+ policy = qualifi$ electric utilities 7a7 ,9 g5]al ,p>agraph 7#c7 ( section #dea7;i7 is am5d$ by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjaf4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to dispositions aft] ,decemb] #ca1 #bjac4 #afa4 ,ext5sion ( excise tax cr$its relat+ to c]ta9 fuels 7a7 ,excise tax cr$its & outlay paym5ts = biodiesel & r5ewable diesel fuel mixtures 7#a7 ,p>agraph 7#f7 ( section #fdbf7;c7 is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjae4 7#b7 ,subp>agraph 7,b7 ( section #fdbg7;e77#f7 is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjae4 7b7 ,ext5sion ( alt]native fuels excise tax cr$its 7#a7 ,9 g5]al ,sections #fdbf7;d77#e7 & #fdbf7;e77#c7 are ea* am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjae4 7#b7 ,outlay paym5ts = alt]native fuels ,subp>agraph 7,c7 ( section #fdbg7;e77#f7 is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjae4 7c7 ,ext5sion ( alt]native fuels excise tax cr$its relat+ to liquefi$ hydrog5 7#a7 ,9 g5]al ,sections #fdbf7;d77#e7 & #fdbf7;e77#c71 z am5d$ by subsection 7b71 are ea* am5d$ by /rik+ 7,septemb] #cj1 #bjad 9 ! case ( any sale or use involv+ liquefi$ hydrog574 7#b7 ,outlay paym5ts = alt]native fuels ,p>agraph 7#f7 ( section #fdbg7;e7 is am5d$-- 7,a7 by /rik+ except z provid$ 9 subp>agraph 7,d71 any 9 subp>agraph 7,c71 z am5d$ by ?is ,act1 & ins]t+ any1 7,b7 by /rik+ ! comma at ! end ( subp>agraph 7,c7 & ins]t+ 1 &1 & 7,c7 by /rik+ subp>agraph 7,d7 & r$esignat+ subp>agraph 7,e7 z subp>agraph 7,d74 7d7 ,effective dates 7#a7 ,9 g5]al ,except z provid$ 9 p>agraph 7#b71 ! am5dm5ts made by ?is section %all apply to fuel sold or us$ aft] ,decemb] #ca1 #bjac4 7#b7 ,liquefi$ hydrog5 ,! am5dm5ts made by subsection 7c7 %all apply to fuels sold or us$ aft] ,septemb] #cj1 #bjad4 7e7 ,special rule = c]ta9 p]iods dur+ #bjad ,not)/&+ any o!r provision ( law1 9 ! case (-- 7#a7 any biodiesel mixture cr$it prop]ly det]m9$ "u section #fdbf7;c7 ( ! ,int]nal ,rev5ue ,code ( #aihf = p]iods aft] ,decemb] #ca1 #bjac1 & be=e ! date ( ! enactm5t ( ?is ,act1 & 7#b7 any alt]native fuel cr$it prop]ly det]m9$ "u section #fdbf7;d7 ( su* ,code = su* p]iods1 su* cr$it %all be all[$1 & any refund or paym5t attributable to su* cr$it 7includ+ any paym5t "u section #fdbg7;e7 ( su* ,code7 %all be made1 only 9 su* mann] z ! ,secret>y ( ! ,treasury 7or ! ,secret>y's delegate7 %all provide4 ,su* ,secret>y %all issue guidance )9 #cj days aft] ! date ( ! enactm5t ( ?is ,act provid+ = a "o-"t submission ( claims cov]+ p]iods describ$ 9 ! prec$+ s5t5ce4 ,su* guidance %all provide = a #ahj-;day p]iod = ! submission ( su* claims 79 su* mann] z prescrib$ by su* ,secret>y7 to beg9 n lat] ?an #cj days aft] su* guidance is issu$4 ,su* claims %all be paid by su* ,secret>y n lat] ?an #fj days aft] receipt4 ,if su* ,secret>y has n paid pursuant to a claim fil$ "u ?is subsection )9 #fj days aft] ! date ( ! fil+ ( su* claim1 ! claim %all be paid ) int]e/ f su* date det]m9$ by us+ ! ov]paym5t rate & me?od "u section #ffba ( su* ,code4 ,,ii ,provisions expir+ 9 #bjad ,a ,en]gy tax ext5d]s #bja4 ,ext5sion ( cr$it = new qualifi$ fuel cell motor vehicles 7a7 ,9 g5]al ,p>agraph 7#a7 ( section #cj;,b7k7 is am5d$ by /rik+ ,decemb] #ca1 #bjad & ins]t+ ,decemb] #ca1 #bjae4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to prop]ty pur*as$ aft] ,decemb] #ca1 #bjad4 #bjb4 ,ext5sion ( cr$it = alt]native fuel vehicle refuel+ prop]ty 7a7 ,9 g5]al ,subsection 7g7 ( section #cj;,c is am5d$ by /rik+ plac$ 9 s]vice & all t foll[s & ins]t+ plac$ 9 s]vice aft] ,decemb] #ca1 #bjae44 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjac4 ,b ,ext5d]s relat+ to multiemploy] def9$ b5efit p5sion plans #bea4 ,ext5sion ( automatic ext5sion ( amortization p]iods 7a7 ,9 g5]al ,subp>agraph 7,c7 ( section #dca7;d77#a7 is am5d$ by /rik+ ,decemb] #ca1 #bjad & ins]t+ ,decemb] #ca1 #bjae4 7b7 ,am5dm5t to ,employee ,retirem5t ,income ,security ,act ( #aigd ,subp>agraph 7,c7 ( section #cjd7;d77#a7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajhd7;d77#a77;,c77 is am5d$ by /rik+ ,decemb] #ca1 #bjad & ins]t+ ,decemb] #ca1 #bjae4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to applications submitt$ "u section #dca7;d77#a77;,a7 ( ! ,int]nal ,rev5ue ,code ( #aihf & section #cjd7;d77#a77;,c7 ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd aft] ,decemb] #ca1 #bjad4 #beb4 ,ext5sion ( fund+ improvem5t & rehabilitation plan rules 7a7 ,9 g5]al ,p>agraphs 7#a7 & 7#b7 ( section #bba7;c7 ( ! ,p5sion ,protection ,act ( #bjjf are ea* am5d$ by /rik+ ,decemb] #ca1 #bjad & ins]t+ ,decemb] #ca1 #bjae4 7b7 ,con=m+ am5dm5t ,p>agraph 7#b7 ( section #bba7;c7 ( ! ,p5sion ,protection ,act ( #bjjf is am5d$ by /rik+ ,janu>y #a1 #bjae & ins]t+ ,janu>y #a1 #bjaf4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to plan ye>s beg9n+ aft] ,decemb] #ca1 #bjad4 ,,iii ,rev5ue provisions #cja4 ,p5alty = failure to meet due dilig5ce requirem5ts = ! *ild tax cr$it 7a7 ,9 g5]al ,section #ffie is am5d$ by add+ at ! end ! foll[+ new subsection3 7h7 ,failure to be dilig5t 9 det]m9+ eligibility = *ild tax cr$it ,any p]son :o is a tax return prep>] ) respect to any return or claim = refund :o fails to comply ) due dilig5ce requirem5ts impos$ by ! ,secret>y by regulations ) respect to det]m9+ eligibility =1 or ! am\nt (1 ! cr$it all[able by section #bd %all pay a p5alty ( #ejj = ea* su* failure4 4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjad4 #cjb4 #ajj p]c5t cont9u\s levy on paym5t to m$ic>e provid]s & suppli]s 7a7 ,9 g5]al ,p>agraph 7#c7 ( section #fcca7;h7 is am5d$ by /rik+ ! p]iod at ! end & ins]t+ 1 or to a ,m$ic>e provid] or suppli] "u title ,,xviii ( ! ,social ,security ,act44 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to paym5ts made on or aft] ! date :i* is #ahj days aft] ! date ( ! enactm5t ( ?is ,act4 #cjc4 ,exclusion f gross income ( c]ta9 clean coal p[] grants to non-corporate taxpay]s 7a7 ,g5]al rule ,9 ! case ( an eligible taxpay] o!r ?an a corporation1 gross income = purposes ( ! ,int]nal ,rev5ue ,code ( #aihf %all n include any am\nt receiv$ "u section #djb ( ! ,en]gy ,policy ,act ( #bjje4 7b7 ,r$uction 9 basis ,! basis ( any prop]ty subject to ! all[ance = depreciation "u ! ,int]nal ,rev5ue ,code ( #aihf :i* is acquir$ ) any am\nt to :i* subsection 7a7 applies dur+ ! #ab-mon? p]iod beg9n+ on ! day su* am\nt is receiv$ %all be r$uc$ by an am\nt equal to su* am\nt4 ,! excess 7if any7 ( su* am\nt ov] ! am\nt ( ! r$uction "u ! prec$+ s5t5ce %all be appli$ to ! r$uction 7z ( ! la/ day ( ! p]iod specifi$ 9 ! prec$+ s5t5ce7 ( ! basis ( any o!r prop]ty held by ! taxpay]4 ,! p>ticul> prop]ties to :i* ! r$uctions requir$ by ?is subsection are allocat$ %all be det]m9$ by ! ,secret>y ( ! ,treasury 7or ! ,secret>y's delegate7 "u regulations simil> to ! regulations "u section #cfb7;c77#b7 ( su* ,code4 7c7 ,limitation to am\nts :i* w\ld be contributions to capital ,subsection 7a7 %all n apply to any am\nt unless su* am\nt1 if receiv$ by a corporation1 w\ld be exclud$ f gross income "u section #aah ( ! ,int]nal ,rev5ue ,code ( #aihf4 7d7 ,eligible taxpay] ,= purposes ( ?is section1 ) respect to any am\nt receiv$ "u section #djb ( ! ,en]gy ,policy ,act ( #bjje1 ! t]m eligible taxpay] means a taxpay] t makes a paym5t to ! ,secret>y ( ! ,treasury 7or ! ,secret>y's delegate7 equal to #a4ah p]c5t ( ! am\nt s receiv$4 ,su* paym5t %all be made at su* "t & 9 su* mann] z su* ,secret>y 7or ! ,secret>y's delegate7 %all prescribe4 ,9 ! case ( a p>tn]%ip1 su* ,secret>y 7or ! ,secret>y's delegate7 %all prescribe regulations to det]m9e ! allocation ( su* paym5t am\nt among ! p>tn]s4 7e7 ,effective date ,?is section %all apply to am\nts receiv$ "u section #djb ( ! ,en]gy ,policy ,act ( #bjje 9 taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjaa4 #cjd4 ,re=m ( rules relat+ to qualifi$ tax collection contracts 7a7 ,requirem5t to collect c]ta9 inactive tax receivables "u qualifi$ tax collection contracts ,section #fcjf is am5d$ by r$esignat+ subsections 7c7 ?r\gh 7f7 z subsections 7d7 ?r\gh 7g71 respectively1 & by ins]t+ aft] subsection 7b7 ! foll[+ new subsection3 7c7 ,collection ( inactive tax receivables 7#a7 ,9 g5]al ,not)/&+ any o!r provision ( law1 ! ,secret>y %all ent] into "o or m qualifi$ tax collection contracts = ! collection ( all out/&+ inactive tax receivables4 7#b7 ,inactive tax receivables ,= purposes ( ?is section-- 7,a7 ,9 g5]al ,! t]m inactive tax receivable means any tax receivable if-- 7i7 at any "t aft] assessm5t1 ! ,int]nal ,rev5ue ,s]vice removes su* receivable f ! active inv5tory = lack ( res\rces or inability to locate ! taxpay]1 7ii7 m ?an #ac ( ! p]iod ( ! applicable /atute ( limitation has laps$ & su* receivable has n be5 assign$ = collection to any employee ( ! ,int]nal ,rev5ue ,s]vice1 or 7iii7 9 ! case ( a receivable :i* has be5 assign$ = collection1 m ?an #cfe days h pass$ )\t int]action ) ! taxpay] or a ?ird p>ty = purposes ( fur!r+ ! collection ( su* receivable4 7,b7 ,tax receivable ,! t]m tax receivable means any out/&+ assessm5t :i* ! ,int]nal ,rev5ue ,s]vice includes 9 pot5tially collectible inv5tory4 4 7b7 ,c]ta9 tax receivables n eligible = collection "u qualifi$ tax collection contracts ,section #fcjf1 z am5d$ by subsection 7a71 is am5d$ by r$esignat+ subsections 7d7 ?r\gh 7g7 z subsections 7e7 ?r\gh 7h71 respectively1 & by ins]t+ aft] subsection 7c7 ! foll[+ new subsection3 7d7 ,c]ta9 tax receivables n eligible = collection "u qualifi$ tax collections contracts ,a tax receivable %all n be eligible = collection pursuant to a qualifi$ tax collection contract if su* receivable-- 7#a7 is subject to a p5d+ or active (f]-9-compromise or in/allm5t agreem5t1 7#b7 is classifi$ z an innoc5t sp\se case1 7#c7 involves a taxpay] id5tifi$ by ! ,secret>y z be+-- 7,a7 deceas$1 7,b7 "u ! age ( #ah1 7,c7 9 a designat$ combat zone1 or 7,d7 a victim ( tax-relat$ id5tity !ft1 7#d7 is curr5tly "u exam9ation1 litigation1 crim9al inve/igation1 or levy1 or 7#e7 is curr5tly subject to a prop] ex]cise ( a "r ( appeal "u ?is title4 4 7c7 ,contract+ priority ,section #fcjf1 z am5d$ by ! prec$+ provisions ( ?is section1 is am5d$ by r$esignat+ subsection 7h7 z subsection 7i7 & by ins]t+ aft] subsection 7g7 ! foll[+ new subsection3 7h7 ,contract+ priority ,9 contract+ = ! s]vices ( any p]son "u ?is section1 ! ,secret>y %all utilize private collection contractors & debt collection c5t]s on ! s*$ule requir$ "u section #cgaa7;g7 ( title #ca1 ,unit$ ,/ates ,code1 includ+ ! te*nology & communications infra/ructure e/abli%$ !re91 to ! ext5t su* private collection contractors & debt collection c5t]s are appropriate to c>ry out ! purposes ( ?is section4 4 7d7 ,disclosure ( return in=mation ,section #fajc7k7 is am5d$ by add+ at ! end ! foll[+ new p>agraph3 7#aa7 ,qualifi$ tax collection contractors ,p]sons provid+ s]vices pursuant to a qualifi$ tax collection contract "u section #fcjf may1 if speak+ to a p]son :o has id5tifi$ himself or h]self z hav+ ! "n ( ! taxpay] to :i* a tax receivable 7)9 ! mean+ ( su* section7 relates1 id5tify !mselves z contractors ( ! ,int]nal ,rev5ue ,s]vice & disclose ! bus9ess "n ( ! contractor1 & ! nature1 subject1 & reason = ! contact4 ,disclosures "u ?is p>agraph %all be made only 9 su* situations & "u su* conditions z h be5 approv$ by ! ,secret>y4 4 7e7 ,taxpay]s affect$ by f$]ally decl>$ disa/]s ,section #fcjf1 z am5d$ by ! prec$+ provisions ( ?is section1 is am5d$ by r$esignat+ subsection 7i7 z subsection 7j7 & by ins]t+ aft] subsection 7h7 ! foll[+ new subsection3 7i7 ,taxpay]s 9 presid5tially decl>$ disa/] areas ,! ,secret>y may prescribe proc$ures "u :i* a taxpay] det]m9$ to be affect$ by a ,f$]ally decl>$ disa/] 7z def9$ by section #afe7;h77#c77;,c77 may reque/-- 7#a7 relief f imm$iate collection measures by contractors "u ?is section1 & 7#b7 a return ( ! inactive tax receivable to ! inv5tory ( ! ,int]nal ,rev5ue ,s]vice to be collect$ by an employee !re(4 4 7f7 ,report to ,congress 7#a7 ,9 g5]al ,section #fcjf1 z am5d$ by ! prec$+ provisions ( ?is section1 is am5d$ by r$esignat+ subsection 7j7 z subsection 7k7 & by ins]t+ aft] subsection 7i7 ! foll[+ new subsection3 7j7 ,report to ,congress ,n lat] ?an #ij days aft] ! la/ day ( ea* fiscal ye> 7beg9n+ ) ! fir/ su* fiscal ye> end+ aft] ! date ( ! enactm5t ( ?is subsection71 ! ,secret>y %all submit to ! ,committee on ,ways & ,means ( ! ,h\se ( ,repres5tatives & ! ,committee on ,f9ance ( ! ,s5ate a report ) respect to qualifi$ tax collection contracts "u ?is section :i* %all include-- 7#a7 annually1 ) respect to su* fiscal ye>-- 7,a7 ! total numb] & am\nt ( tax receivables provid$ to ea* contractor = collection "u ?is section1 7,b7 ! total am\nts collect$ 7& am\nts ( in/allm5t agreem5ts ent]$ into "u subsection 7b77#a77;,b77 ) respect to ea* contractor & ! collection co/s incurr$ 7directly & indirectly7 by ! ,int]nal ,rev5ue ,s]vice ) respect to su* am\nts1 7,c7 ! impact ( su* contracts on ! total numb] & am\nt ( unpaid assessm5ts1 & on ! numb] & am\nt ( assessm5ts collect$ by ,int]nal ,rev5ue ,s]vice p]sonnel aft] initial contact by a contractor1 7,d7 ! am\nt ( fees reta9$ by ! ,secret>y "u subsection 7e7 & a description ( ! use ( su* funds1 & 7,e7 a disclosure safegu>d report 9 a =m simil> to t requir$ "u section #fajc7p77#e71 & 7#b7 biannually 7beg9n+ ) ! second report submitt$ "u ?is subsection7-- 7,a7 an indep5d5t evaluation ( contractor p]=mance1 & 7,b7 a measurem5t plan t includes a comp>ison ( ! be/ practices us$ by ! private collectors to ! collection te*niques us$ by ! ,int]nal ,rev5ue ,s]vice & me*anisms to id5tify & capture in=mation on successful collection te*niques us$ by ! contractors t c\ld be adopt$ by ! ,int]nal ,rev5ue ,s]vice4 4 7#b7 ,repeal ( exi/+ report+ requirem5ts ) respect to qualifi$ tax collection contracts ,section #hha ( ! ,am]ican ,jobs ,creation ,act ( #bjjd is am5d$ by /rik+ subsection 7e74 7g7 ,effective dates 7#a7 ,9 g5]al ,! am5dm5ts made by subsections 7a7 & 7b7 %all apply to tax receivables id5tifi$ by ! ,secret>y aft] ! date ( ! enactm5t ( ?is ,act4 7#b7 ,contract+ priority ,! ,secret>y %all beg9 ent]+ into contracts & agreem5ts z describ$ 9 ! am5dm5t made by subsection 7c7 )9 #c mon?s aft] ! date ( ! enactm5t ( ?is ,act4 7#c7 ,disclosures ,! am5dm5t made by subsection 7d7 %all apply to disclosures made aft] ! date ( ! enactm5t ( ?is ,act4 7#d7 ,proc$ures2 report to congress ,! am5dm5ts made by subsections 7e7 & 7f7 %all take effect on ! date ( ! enactm5t ( ?is ,act4 #cje4 ,special compliance p]sonnel program 7a7 ,9 g5]al ,subsection 7e7 ( section #fcjf1 z r$esignat$ by section #fjd1 is am5d$ by /rik+ = collection en=cem5t activities ( ! ,int]nal ,rev5ue ,s]vice 9 p>agraph 7#b7 & ins]t+ to fund ! special compliance p]sonnel program acc\nt "u section #fcjg4 7b7 ,special compliance p]sonnel program acc\nt ,sub*apt] ,a ( *apt] #fd is am5d$ by add+ at ! end ! foll[+ new section3 #fcjg4 ,special compliance p]sonnel program acc\nt 7a7 ,e/abli%m5t ( a special compliance p]sonnel program acc\nt ,! ,secret>y %all e/abli% an acc\nt )9 ! ,dep>tm5t = c>ry+ out a program consi/+ ( ! hir+1 tra9+1 & employm5t ( special compliance p]sonnel1 & %all transf] to su* acc\nt f "t to "t am\nts reta9$ by ! ,secret>y "u section #fcjf7;e77#b74 7b7 ,re/rictions ,! program describ$ 9 subsection 7a7 %all be subject to ! foll[+ re/rictions3 7#a7 ,no funds %all be transf]r$ to su* acc\nt except z describ$ 9 subsection 7a74 7#b7 ,no o!r funds f any o!r s\rce %all be exp5d$ = special compliance p]sonnel employ$ "u su* program1 & no funds f su* acc\nt %all be exp5d$ = ! hir+ ( any p]sonnel o!r ?an special compliance p]sonnel4 7#c7 ,not)/&+ any o!r au?ority1 ! ,secret>y is prohibit$ f sp5d+ funds out ( su* acc\nt = any purpose o!r ?an = co/s "u su* program associat$ ) ! employm5t ( special compliance p]sonnel & ! retra9+ & reassignm5t ( curr5t noncollections p]sonnel z special compliance p]sonnel1 & to reimburse ! ,int]nal ,rev5ue ,s]vice or o!r gov]nm5t ag5cies = ! co/ ( adm9i/]+ qualifi$ tax collection contracts "u section #fcjf4 7c7 ,report+ ,n lat] ?an ,m>* ( ea* ye>1 ! ,commission] ( ,int]nal ,rev5ue %all submit a report to ! ,committees on ,f9ance & ,appropriations ( ! ,s5ate & ! ,committees on ,ways & ,means & ,appropriations ( ! ,h\se ( ,repres5tatives consi/+ ( ! foll[+3 7#a7 ,= ! prec$+ fiscal ye>1 all funds receiv$ 9 ! acc\nt e/abli%$ "u subsection 7a71 adm9i/rative & program co/s = ! program describ$ 9 su* subsection1 ! numb] ( special compliance p]sonnel hir$ & employ$ "u ! program1 & ! am\nt ( rev5ue actually collect$ by su* p]sonnel4 7#b7 ,= ! curr5t fiscal ye>1 all actual & e/imat$ funds receiv$ or to be receiv$ 9 ! acc\nt1 all actual & e/imat$ adm9i/rative & program co/s1 ! numb] ( all actual & e/imat$ special compliance p]sonnel hir$ & employ$ "u ! program1 & ! actual & e/imat$ rev5ue actually collect$ or to be collect$ by su* p]sonnel4 7#c7 ,= ! foll[+ fiscal ye>1 an e/imate ( all funds to be receiv$ 9 ! acc\nt1 all e/imat$ adm9i/rative & program co/s1 ! e/imat$ numb] ( special compliance p]sonnel hir$ & employ$ "u ! program1 & ! e/imat$ rev5ue to be collect$ by su* p]sonnel4 7d7 ,def9itions ,= purposes ( ?is section-- 7#a7 ,special compliance p]sonnel ,! t]m special compliance p]sonnel means individuals employ$ by ! ,int]nal ,rev5ue ,s]vice z field function collection (fic]s or 9 a simil> position1 or employ$ to collect taxes us+ ! automat$ collection sy/em or an equival5t replacem5t sy/em4 7#b7 ,program co/s ,! t]m program co/s means-- 7,a7 total sal>ies 7includ+ locality pay & bonuses71 b5efits1 & employm5t taxes = special compliance p]sonnel employ$ or tra9$ "u ! program describ$ 9 subsection 7a71 & 7,b7 direct ov]head co/s1 sal>ies1 b5efits1 & employm5t taxes relat+ to support /aff1 r5tal paym5ts1 (fice equipm5t & furniture1 travel1 data process+ s]vices1 vehicle co/s1 utilities1 telecommunications1 po/age1 pr9t+ & reproduction1 supplies & mat]ials1 l&s & /ructures1 insurance claims1 & indemnities = special compliance p]sonnel hir$ & employ$ "u ?is section4 ,= purposes ( subp>agraph 7,b71 ! co/ ( managem5t & sup]vision ( special compliance p]sonnel %all be tak5 into acc\nt z direct ov]head co/s to ! ext5t su* co/s1 :5 includ$ 9 total program co/s "u ?is p>agraph1 d n repres5t m ?an #aj p]c5t ( su* total co/s4 4 7c7 ,cl]ical am5dm5t ,! table ( sections = sub*apt] ,a ( *apt] #fd is am5d$ by ins]t+ aft] ! item relat+ to section #fcjf ! foll[+ new item3 ,sec4 #fcjg4 ,special compliance p]sonnel program acc\nt4 4 7d7 ,effective date ,! am5dm5t made by subsection 7a7 %all apply to am\nts collect$ & reta9$ by ! ,secret>y aft] ! date ( ! enactm5t ( ?is ,act4 #cjf4 ,exclusion ( divid5ds f controll$ =eign corporations f ! def9ition ( p]sonal hold+ company income = purposes ( ! p]sonal hold+ company rules 7a7 ,9 g5]al ,p>agraph 7#a7 ( section #edc7;a7 is am5d$ by r$esignat+ subp>agraphs 7,c7 & 7,d7 z subp>agraphs 7,d7 & 7,e71 respectively1 & by ins]t+ aft] subp>agraph 7,b7 ! foll[+ new subp>agraph3 7,c7 divid5ds receiv$ by a ,unit$ ,/ates %>ehold] 7z def9$ 9 section #iea7;b77 f a controll$ =eign corporation 7z def9$ 9 section #ieg7;a771 4 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s end+ on or aft] ! date ( ! enactm5t ( ?is ,act4 #cjg4 ,inflation adju/m5t = c]ta9 civil p5alties "u ! ,int]nal ,rev5ue ,code ( #aihf 7a7 ,failure to file tax return or pay tax ,section #ffea is am5d$ by add+ at ! end ! foll[+ new subsection3 7i7 ,adju/m5t = inflation 7#a7 ,9 g5]al ,9 ! case ( any return requir$ to be fil$ 9 a cal5d> ye> beg9n+ aft] #bjad1 ! #ace doll> am\nt "u subsection 7a7 %all be increas$ by su* doll> am\nt multipli$ by ! co/-(-liv+ adju/m5t det]m9$ "u section #a7;f77#c7 det]m9$ by sub/itut+ cal5d> ye> #bjac = cal5d> ye> #aiib 9 subp>agraph 7,b7 !re(4 7#b7 ,r\nd+ ,if any am\nt adju/$ "u p>agraph 7#a7 is n a multiple ( #e1 su* am\nt %all be r\nd$ to ! next l[e/ multiple ( #e4 4 7b7 ,failure to file c]ta9 in=mation returns1 regi/ration /atem5ts1 etc 7#a7 ,9 g5]al ,section #ffeb7;c7 is am5d$ by add+ at ! end ! foll[+ new p>agraph3 7#f7 ,adju/m5t = inflation 7,a7 ,9 g5]al ,9 ! case ( any failure relat+ to a return requir$ to be fil$ 9 a cal5d> ye> beg9n+ aft] #bjad1 ea* ( ! doll> am\nts "u p>agraphs 7#a71 7#b71 & 7#c7 %all be increas$ by su* doll> am\nt multipli$ by ! co/-(-liv+ adju/m5t det]m9$ "u section #a7;f77#c7 det]m9$ by sub/itut+ cal5d> ye> #bjac = cal5d> ye> #aiib 9 subp>agraph 7,b7 !re(4 7,b7 ,r\nd+ ,if any am\nt adju/$ "u subp>agraph 7,a7-- 7i7 is n less ?an #e1jjj & is n a multiple ( #ejj1 su* am\nt %all be r\nd$ to ! next l[e/ multiple ( #ejj1 & 7ii7 is n describ$ 9 clause 7i7 & is n a multiple ( #e1 su* am\nt %all be r\nd$ to ! next l[e/ multiple ( #e4 4 7#b7 ,con=m+ am5dm5ts 7,a7 ,! la/ s5t5ce ( section #ffeb7;c77#a77;,a7 is am5d$ by /rik+ ! fir/ s5t5ce ( ?is subp>agraph %all be appli$ by sub/itut+ #ajj = #bj & & ins]t+ 9 apply+ ! fir/ s5t5ce ( ?is subp>agraph1 ! am\nt ( ! p5alty = ea* day dur+ :i* a failure cont9ues %all be #ajj 9 lieu ( ! am\nt o!rwise specifi$1 &4 7,b7 ,clause 7ii7 ( section #ffeb7;c77#b77;,c7 is am5d$ by /rik+ ! fir/ s5t5ce ( p>agraph 7#a77;,a7 & all t foll[s & ins]t+ 9 apply+ ! fir/ s5t5ce ( p>agraph 7#a77;,a71 ! am\nt ( ! p5alty = ea* day dur+ :i* a failure cont9ues %all be #ajj 9 lieu ( ! am\nt o!rwise specifi$1 & 9 lieu ( apply+ ! second s5t5ce ( p>agraph 7#a77;,a71 ! maximum p5alty "u p>agraph 7#a77;,a7 %all n exce$ #ej1jjj1 &4 7c7 ,o!r assessable p5alties ) respect to ! prep>ation ( tax returns = o!r p]sons ,section #ffie is am5d$ by add+ at ! end ! foll[+ new subsection3 7h7 ,adju/m5t = inflation 7#a7 ,9 g5]al ,9 ! case ( any failure relat+ to a return or claim = refund fil$ 9 a cal5d> ye> beg9n+ aft] #bjad1 ea* ( ! doll> am\nts "u subsections 7a71 7b71 7c71 7d71 7e71 7f71 & 7g7 %all be increas$ by su* doll> am\nt multipli$ by ! co/-(-liv+ adju/m5t det]m9$ "u section #a7;f77#c7 det]m9$ by sub/itut+ cal5d> ye> #bjac = cal5d> ye> #aiib 9 subp>agraph 7,b7 !re(4 7#b7 ,r\nd+ ,if any am\nt adju/$ "u subp>agraph 7,a7-- 7,a7 is n less ?an #e1jjj & is n a multiple ( #ejj1 su* am\nt %all be r\nd$ to ! next l[e/ multiple ( #ejj1 & 7,b7 is n describ$ 9 clause 7i7 & is n a multiple ( #e1 su* am\nt %all be r\nd$ to ! next l[e/ multiple ( #e4 4 7d7 ,failure to file p>tn]%ip return ,section #ffih is am5d$ by add+ at ! end ! foll[+ new subsection3 7e7 ,adju/m5t = inflation 7#a7 ,9 g5]al ,9 ! case ( any return requir$ to be fil$ 9 a cal5d> ye> beg9n+ aft] #bjad1 ! #aie doll> am\nt "u subsection 7b77#a7 %all be increas$ by su* doll> am\nt multipli$ by ! co/-(-liv+ adju/m5t det]m9$ "u section #a7;f77#c7 det]m9$ by sub/itut+ cal5d> ye> #bjac = cal5d> ye> #aiib 9 subp>agraph 7,b7 !re(4 7#b7 ,r\nd+ ,if any am\nt adju/$ "u p>agraph 7#a7 is n a multiple ( #e1 su* am\nt %all be r\nd$ to ! next l[e/ multiple ( #e4 4 7e7 ,failure to file ,s corporation return ,section #ffii is am5d$ by add+ at ! end ! foll[+ new subsection3 7e7 ,adju/m5t = inflation 7#a7 ,9 g5]al ,9 ! case ( any return requir$ to be fil$ 9 a cal5d> ye> beg9n+ aft] #bjad1 ! #aie doll> am\nt "u subsection 7b77#a7 %all be increas$ by su* doll> am\nt multipli$ by ! co/-(-liv+ adju/m5t det]m9$ "u section #a7;f77#c7 det]m9$ by sub/itut+ cal5d> ye> #bjac = cal5d> ye> #aiib 9 subp>agraph 7,b7 !re(4 7#b7 ,r\nd+ ,if any am\nt adju/$ "u p>agraph 7#a7 is n a multiple ( #e1 su* am\nt %all be r\nd$ to ! next l[e/ multiple ( #e4 4 7f7 ,failure to file correct in=mation returns ,p>agraph 7#a7 ( section #fgba7;f7 is am5d$ by /rik+ ,= ea* fif? cal5d> ye> beg9n+ aft] #bjab & ins]t+ ,9 ! case ( any failure relat+ to a return requir$ to be fil$ 9 a cal5d> ye> beg9n+ aft] #bjad4 7g7 ,failure to furni% correct payee /atem5ts ,p>agraph 7#a7 ( section #fgbb7;f7 is am5d$ by /rik+ ,= ea* fif? cal5d> ye> beg9n+ aft] #bjab & ins]t+ ,9 ! case ( any failure relat+ to a /atem5t requir$ to be furni%$ 9 a cal5d> ye> beg9n+ aft] #bjad4 7h7 ,effective date ,! am5dm5ts made by ?is section %all apply to returns requir$ to be fil$ aft] ,decemb] #ca1 #bjad4 ,,iv ,budget>y effects #dja4 ,budget>y effects 7a7 ,paygo scorec>d ,! budget>y effects ( ?is ,act %all n be ent]$ on ei!r ,,paygo scorec>d ma9ta9$ pursuant to section #d7;d7 ( ! ,/atutory ,pay-,z-,y-,g ,act ( #bjaj4 7b7 ,s5ate paygo scorec>d ,! budget>y effects ( ?is ,act %all n be ent]$ on any ,,paygo scorec>d ma9ta9$ = purposes ( section #bja ( ,s4 ,con4 ,res4 #ba 7#aaj? ,congress74 ,april #bh1 #bjad,read twice & plac$ on ! cal5d>