,,ii ,cal5d> ,no4 #aih #aad? ,,congress #a/ ,session ,s4 #aidf ,report ,no4 #aad-aah ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,augu/ #e1 #bjae,mr4 ,hat*1 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 ! ,tax ,relief ,ext5sion ,act ( #bjae4 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 t expir$ 9 #bjad ,subtitle ,a--,individual tax ext5d]s ,sec4 #aja4 ,ext5sion & modification ( d$uction = c]ta9 exp5ses ( elem5t>y & second>y s*ool tea*]s4 ,sec4 #ajb4 ,ext5sion & modification ( exclusion f gross income ( dis*>ge ( qualifi$ pr9cipal resid5ce indebt$ness4 ,sec4 #ajc4 ,ext5sion ( p>ity & modification ( exclusion f income = employ]-provid$ mass transit & p>k+ b5efits4 ,sec4 #ajd4 ,ext5sion ( mortgage insurance premiums treat$ z qualifi$ resid5ce int]e/4 ,sec4 #aje4 ,ext5sion ( d$uction ( ,/ate & local g5]al sales taxes4 ,sec4 #ajf4 ,ext5sion ( special rule = contributions ( capital ga9 real prop]ty made = cons]vation purposes4 ,sec4 #ajg4 ,ext5sion ( above-!-l9e d$uction = qualifi$ tuition & relat$ exp5ses4 ,sec4 #ajh4 ,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 & modification ( 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 & modification ( 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$uction 9 ,s-corporation recognition p]iod = built-9 ga9s tax4 ,sec4 #aci4 ,ext5sion & modification ( emp[]m5t zone tax inc5tives4 ,sec4 #adj4 ,ext5sion ( tempor>y increase 9 limit on cov] ov] ( rum excise taxes to ,pu]to ,rico & ! ,virg9 ,isl&s4 ,sec4 #ada4 ,ext5sion ( ,am]ican ,samoa economic developm5t cr$it4 ,subtitle ,c--,en]gy tax ext5d]s ,sec4 #aea4 ,ext5sion & modification ( cr$it = nonbus9ess en]gy prop]ty4 ,sec4 #aeb4 ,ext5sion ( cr$it = new qualifi$ fuel cell motor vehicles4 ,sec4 #aec4 ,ext5sion ( cr$it = alt]native fuel vehicle refuel+ prop]ty4 ,sec4 #aed4 ,ext5sion ( second g5]ation bi(uel produc] cr$it4 ,sec4 #aee4 ,ext5sion & re=m ( biodiesel tax inc5tives4 ,sec4 #aef4 ,ext5sion ( production cr$it = ,indian coal facilities plac$ 9 s]vice be=e #bjji4 ,sec4 #aeg4 ,ext5sion ( cr$its ) respect to facilities produc+ en]gy f c]ta9 r5ewable res\rces4 ,sec4 #aeh4 ,ext5sion ( cr$it = en]gy-effici5t new homes4 ,sec4 #aei4 ,ext5sion ( special all[ance = second g5]ation bi(uel plant prop]ty4 ,sec4 #afj4 ,ext5sion & modification ( en]gy effici5t comm]cial build+s d$uction4 ,sec4 #afa4 ,ext5sion ( special rule = sales or dispositions to implem5t ,,f]c or ,/ate electric re/ructur+ policy = qualifi$ electric utilities4 ,sec4 #afb4 ,ext5sion ( excise tax cr$its relat+ to alt]native fuels4 ,,title ,,ii--,provision t expir$ 9 #bjac ,sec4 #bja4 ,ext5sion ( cr$it = #b-:eel$ plug-9 electric vehicles4 ,,title ,,iii--,rev5ue provisions ,sec4 #cja4 ,exclusion f gross income ( c]ta9 clean coal p[] grants to non-corporate taxpay]s4 ,sec4 #cjb4 ,treatm5t ( c]ta9 p]sons z employ]s ) respect to motion picture projects4 ,sec4 #cjc4 ,equalization ( excise tax & cr$its ) respect to liquefi$ petroleum gas & liquefi$ natural gas4 ,sec4 #cjd4 ,additional in=mation on returns relat+ to mortgage int]e/4 ,,title ,,iv--,budget>y effects ,sec4 #dja4 ,budget>y effects4 #b4 ,s5se ( ! ,s5ate ,x is ! s5se ( ! ,s5ate t-- 7#a7 ,congress %\ld pursue a process ( compreh5sive tax re=m2 7#b7 ,congress %\ld endeavor1 z "p ( su* 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 base4 ,i ,provisions t expir$ 9 #bjad ,a ,individual tax ext5d]s #aja4 ,ext5sion & modification ( 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 #bjad & ins]t+ #bjad1 #bjae1 or #bjaf4 7b7 ,adju/m5t = inflation ,subp>agraph 7,d7 ( section #fb7;a77#b71 z am5d$ by subsection 7a71 is am5d$-- 7#a7 by /rik+ tea*]s4--,9 ! case ( & ins]t+ 8tea*]s4-- 7i7 ,9 g5]al ,9 ! case ( 1 & 7#b7 by add+ at ! end ! foll[+ new clause3 7ii7 ,adju/m5t = inflation ,9 ! case ( any taxable ye> beg9n+ aft] #bjad1 ! #bej am\nt 9 clause 7i7 %all be increas$ by an am\nt equal to-- 7,i7 su* doll> am\nt1 multipli$ by 7,,ii7 ! co/-(-liv+ adju/m5t det]m9$ "u section #a7;f77#c7 = ! cal5d> ye> 9 :i* ! taxable ye> beg9s1 by sub/itut+ cal5d> ye> #bjac = cal5d> ye> #aiib 9 subp>agraph 7,b7 !re(4 ,if any am\nt z increas$ "u ! prec$+ s5t5ce is n a multiple ( #be1 su* am\nt %all be r\nd$ to ! ne>e/ multiple ( #be4 4 7c7 ,inclusion ( pr(essional developm5t exp5ses ,clause 7i7 ( section #fb7;a77#b77;,d71 z am5d$ by subsections 7a7 & 7b71 is am5d$ by /rik+ ! p]iod at ! end & ins]t+ 1 & 9 connection ) pr(essional developm5t activities ( su* educator44 7d7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjad4 #ajb4 ,ext5sion & modification ( exclusion f gross income ( dis*>ge ( qualifi$ pr9cipal resid5ce indebt$ness 7a7 ,ext5sion ,subp>agraph 7,e7 ( section #ajh7;a77#a7 is am5d$ by /rik+ ,janu>y #a1 #bjae & ins]t+ ,janu>y #a1 #bjag4 7b7 ,modification ,subp>agraph 7,e7 ( section #ajh7;a77#a71 z am5d$ by subsection 7a71 is am5d$ by /rik+ dis*>g$ be=e & all t foll[s & ins]t+ 8dis*>g$-- 7i7 be=e ,janu>y #a1 #bjag1 or 7ii7 subject to an arrangem5t t is ent]$ into & evid5c$ 9 writ+ be=e ,janu>y #a1 #bjag4 4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to dis*>ges ( indebt$ness aft] ,decemb] #ca1 #bjad4 #ajc4 ,ext5sion ( p>ity & modification ( exclusion f income = employ]-provid$ 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 #bjae & ins]t+ ,janu>y #a1 #bjag4 7#b7 ,effective date ,! am5dm5t made by ?is subsection %all apply to mon?s aft] ,decemb] #ca1 #bjad4 7b7 ,use ( a bike %>e program z a qualifi$ transportation fr+e 7#a7 ,9 g5]al ,section #acb7;f77#e77;,f7 is am5d$-- 7,a7 9 clause 7i71 by /rik+ repair1 & /orage1 if su* bicycle & ins]t+ repair1 & /orage 7or use ( a bike %>+ program1 9 ! case ( taxable ye>s beg9n+ be=e ,janu>y #a1 #bjag71 if su* bicycle or bike %>+ program1 & 7,b7 9 clause 7iii77,i71 by ins]t+ or bike %>+ program aft] bicycle4 7#b7 ,effective date ,! am5dm5ts made by ?is subsection %all apply to mon?s aft] ,decemb] #ca1 #bjad4 #ajd4 ,ext5sion ( mortgage insurance premiums treat$ z qualifi$ resid5ce int]e/ 7a7 ,9 g5]al ,subclause 7,i7 ( section #afc7;h77#c77;,e77iv7 is am5d$ by /rik+ ,decemb] #ca1 #bjad & ins]t+ ,decemb] #ca1 #bjaf4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to am\nts paid or accru$ aft] ,decemb] #ca1 #bjad4 #aje4 ,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 #bjae & ins]t+ ,janu>y #a1 #bjag4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjad4 #ajf4 ,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 #bjad & ins]t+ ,decemb] #ca1 #bjaf4 7b7 ,contributions by c]ta9 corporate f>m]s & ran*]s ,clause 7iii7 ( section #agj7;b77#b77;,b7 is am5d$ by /rik+ ,decemb] #ca1 #bjad & ins]t+ ,decemb] #ca1 #bjaf4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to contributions made 9 taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjad4 #ajg4 ,ext5sion ( above-!-l9e d$uction = qualifi$ tuition & relat$ exp5ses 7a7 ,9 g5]al ,subsection 7e7 ( section #bbb is am5d$ by /rik+ ,decemb] #ca1 #bjad & ins]t+ ,decemb] #ca1 #bjaf4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjad4 #ajh4 ,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 #bjad & ins]t+ ,decemb] #ca1 #bjaf4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to di/ributions made 9 taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjad4 ,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+ ,decemb] #ca1 #bjad & ins]t+ ,decemb] #ca1 #bjaf4 7#b7 ,effective date ,! am5dm5t made by ?is subsection %all apply to am\nts paid or incurr$ aft] ,decemb] #ca1 #bjad4 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 #bjad4 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 #bjad1 & 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 #bjae & ins]t+ ,janu>y #a1 #bjag4 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 ( ! ,tax ,relief ,ext5sion ,act ( #bjae ) respect to h\s+ cr$it doll> am\nt allocations made be=e ,janu>y #a1 #bjag1 & 7,b7 :i* is n f$]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 #bjae4 #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 #bjae ea* place x appe>s & ins]t+ ,janu>y #a1 #bjag4 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 #bjad & ins]t+ ,decemb] #ca1 #bjaf4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjad4 #aae4 ,ext5sion & modification ( new m>kets tax cr$it 7a7 ,9 g5]al ,p>agraph 7#a7 ( section #de;,d7f7 is am5d$ by /rik+ ! p]iod at ! end ( subp>agraph 7,g7 & ins]t+ 1 & & by add+ at ! end ! foll[+ new subp>agraph3 7,h7 #c1idj1jjj1jjj = #bjae & #bjaf4 4 7b7 ,c>ryov] ( unus$ limitation ,p>agraph 7#c7 ( section #de;,d7f7 is am5d$ by /rik+ #bjai & ins]t+ #bjba4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to cal5d> ye>s beg9n+ aft] ,decemb] #ca1 #bjad4 #aaf4 ,ext5sion & modification ( railroad track ma9t5ance cr$it 7a7 ,9 g5]al ,subsection 7f7 ( section #de;,g is am5d$ by /rik+ ,janu>y #a1 #bjae & ins]t+ ,janu>y #a1 #bjag4 7b7 ,exp5ditures ,subsection 7d7 ( section #de;,g is am5d$ by /rik+ ,janu>y #a1 #bjje1 & ins]t+ ,janu>y #a1 #bjae 7,janu>y #a1 #bjje1 9 ! case ( exp5ditures 9 taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjjd1 & be=e ,janu>y #a1 #bjae74 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to exp5ditures paid or incurr$ 9 taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjad4 #aag4 ,ext5sion ( m9e rescue team tra9+ cr$it 7a7 ,9 g5]al ,subsection 7e7 ( section #de,n is am5d$ by /rik+ ,decemb] #ca1 #bjad & ins]t+ ,decemb] #ca1 #bjaf4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjad4 #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 #bjad & ins]t+ ,decemb] #ca1 #bjaf4 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 #bjad4 #aai4 ,ext5sion & modification ( "w opportunity tax cr$it 7a7 ,9 g5]al ,p>agraph 7#d7 ( section #ea7;c7 is am5d$ by /rik+ ,decemb] #ca1 #bjad & ins]t+ ,decemb] #ca1 #bjaf4 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$]al law4 4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to individuals :o beg9 "w = ! employ] aft] ,decemb] #ca1 #bjad4 #abj4 ,ext5sion & modification ( qualifi$ zone academy bonds 7a7 ,ext5sion ,p>agraph 7#a7 ( section #ed;,e7c7 is am5d$ by /rik+ & #bjad & ins]t+ #bjad1 #bjae1 & #bjaf4 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 ?is section %all apply to obligations issu$ aft] ,decemb] #ca1 #bjad4 #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$-- 7#a7 by /rik+ ,janu>y #a1 #bjae 9 subclause 7,i7 & ins]t+ ,janu>y #a1 #bjag1 & 7#b7 by /rik+ ,decemb] #ca1 #bjad 9 subclause 7,,ii7 & ins]t+ ,decemb] #ca1 #bjaf4 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjad4 #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 #bjae & ins]t+ ,janu>y #a1 #bjag4 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjad4 #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 #bjad & ins]t+ ,decemb] #ca1 #bjaf4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjad4 #abd4 ,ext5sion & modification ( 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 #bjad & ins]t+ ,decemb] #ca1 #bjaf4 7b7 ,election to h special rules n apply ,subsection 7j7 ( section #afh is am5d$ by r$esignat+ p>agraph 7#h71 z am5d$ by subsection 7a71 z p>agraph 7#i71 & by ins]t+ aft] p>agraph 7#g7 ! foll[+ new p>agraph3 7#h7 ,election out ,if a taxpay] makes an election "u ?is p>agraph ) respect to any class ( prop]ty = any taxable ye>1 ?is subsection %all n apply to all prop]ty 9 su* class plac$ 9 s]vice dur+ su* taxable ye>4 ,su* election1 once made1 %all be irrevocable4 4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjad4 #abe4 ,ext5sion ( bonus depreciation 7a7 ,9 g5]al ,p>agraph 7#b7 ( section #afh7k7 is am5d$-- 7#a7 by /rik+ ,janu>y #a1 #bjaf 9 subp>agraph 7,a77iv7 & ins]t+ ,janu>y #a1 #bjah1 & 7#b7 by /rik+ ,janu>y #a1 #bjae ea* place x appe>s & ins]t+ ,janu>y #a1 #bjag4 7b7 ,special rule = ,f$]al long-,t]m contracts ,clause 7ii7 ( section #dfj7;c77#f77;,b7 is am5d$ by /rik+ ,janu>y #a1 #bjae 7,janu>y #a1 #bjaf & ins]t+ ,janu>y #a1 #bjag 7,janu>y #a1 #bjah4 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 #bjae & ins]t+ ,janu>y #a1 #bjag4 7#b7 ,r\nd #e ext5sion prop]ty ,p>agraph 7#d7 ( section #afh7k7 is am5d$ by add+ at ! end ! foll[+ new subp>agraph3 7,l7 ,special rules = r\nd #e ext5sion prop]ty 7i7 ,9 g5]al ,9 ! case ( r\nd #e 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 #e ext5sion prop]ty4 7ii7 ,election 7,i7 ,a taxpay] :o has an election 9 effect "u ?is p>agraph = r\nd #d ext5sion prop]ty %all be treat$ z hav+ an election 9 effect = r\nd #e ext5sion prop]ty unless ! taxpay] elects to n h ?is p>agraph apply to r\nd #e ext5sion prop]ty4 7,,ii7 ,a taxpay] :o does n h an election 9 effect "u ?is p>agraph = r\nd #d ext5sion prop]ty may elect to h ?is p>agraph apply to r\nd #e ext5sion prop]ty4 7iii7 ,r\nd #e ext5sion prop]ty ,= purposes ( ?is subp>agraph1 ! t]m r\nd #e 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 #abe7;a7 ( ! ,tax ,relief ,ext5sion ,act ( #bjae 7& ! application ( su* ext5sion to ?is p>agraph pursuant to ! am5dm5t made by section #abe7;c7 ( su* ,act74 4 7d7 ,con=m+ am5dm5ts 7#a7 ,! head+ = subsection 7k7 ( section #afh is am5d$ by /rik+ ,janu>y #a1 #bjae & ins]t+ ,janu>y #a1 #bjag4 7#b7 ,! head+ = clause 7ii7 ( section #afh7k77#b77;,b7 is am5d$ by /rik+ pre-,janu>y #a1 #bjae & ins]t+ pre-,janu>y #a1 #bjag4 7#c7 ,subp>agraph 7,c7 ( section #afh7n77#b7 is am5d$ by /rik+ ,janu>y #a1 #bjae & ins]t+ ,janu>y #a1 #bjag4 7#d7 ,subp>agraph 7,d7 ( section #adjj,l7b77#b7 is am5d$ by /rik+ ,janu>y #a1 #bjae & ins]t+ ,janu>y #a1 #bjag4 7#e7 ,subp>agraph 7,b7 ( section #adjj,n7d77#c7 is am5d$ by /rik+ ,janu>y #a1 #bjae & ins]t+ ,janu>y #a1 #bjag4 7e7 ,effective date ,! am5dm5ts made by ?is section %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjad1 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 #bjad & ins]t+ ,decemb] #ca1 #bjaf4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to contributions made aft] ,decemb] #ca1 #bjad4 #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$-- 7,a7 by /rik+ #bjae 9 subp>agraph 7,b7 & ins]t+ #bjag1 & 7,b7 by /rik+ #bjad 9 subp>agraph 7,c7 & ins]t+ #bjaf4 7#b7 ,r$uction 9 limitation ,section #agi7;b77#b7 is am5d$-- 7,a7 by /rik+ #bjae 9 subp>agraph 7,b7 & ins]t+ #bjag1 & 7,b7 by /rik+ #bjad 9 subp>agraph 7,c7 & ins]t+ #bjaf4 7b7 ,comput] s(tw>e ,section #agi7;d77#a77;,a77ii7 is am5d$ by /rik+ #bjae & ins]t+ #bjag4 7c7 ,election ,section #agi7;c77#b7 is am5d$ by /rik+ #bjae & ins]t+ #bjag4 7d7 ,special rules = treatm5t ( qualifi$ real prop]ty 7#a7 ,9 g5]al ,section #agi7;f77#a7 is am5d$ by /rik+ #bjae & ins]t+ #bjag4 7#b7 ,c>ryov] limitation 7,a7 ,9 g5]al ,section #agi7;f77#d7 is am5d$ by /rik+ #bjad ea* place x appe>s & ins]t+ #bjaf4 7,b7 ,con=m+ am5dm5t ,! head+ ( subp>agraph 7,c7 ( section #agi7;f77#d7 is am5d$ by /rik+ & #bjac & ins]t+ #bjac1 #bjad1 & #bjae4 7e7 ,adju/m5t = inflation ,subsection 7b7 ( section #agi 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] #bjad1 ! #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> #bjac = 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 #bjad4 #abh4 ,ext5sion ( election to exp5se m9e safety equipm5t 7a7 ,9 g5]al ,subsection 7g7 ( section #agi;,e is am5d$ by /rik+ ,decemb] #ca1 #bjad & ins]t+ ,decemb] #ca1 #bjaf4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjad4 #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 #bjad & ins]t+ ,decemb] #ca1 #bjaf4 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 ,seasonal productions 7i7 ,9 g5]al ,9 ! case ( a live /ag$ production n describ$ 9 subp>agraph 7,b7 :i* is produc$ or pres5t$ by a taxable entity = n m ?an #aj weeks ( ! taxable ye>1 subp>agraph 7,a7 %all be appli$ by sub/itut+ #f1ejj = #c1jjj4 7ii7 ,%ort taxable ye>s ,= purposes ( clause 7i71 9 ! case ( any taxable ye> ( less ?an #ab mon?s1 ! numb] ( weeks = :i* a production is produc$ or pres5t$ %all be annualiz$ by multiply+ ! numb] ( weeks ! production is produc$ or pres5t$ dur+ su* taxable ye> by #ab & divid+ ! result by ! numb] ( mon?s 9 su* taxable ye>4 7,e7 ,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 #bjad4 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/ #i taxable ye>s & ins]t+ fir/ #aa taxable ye>s1 & 7#b7 by /rik+ ,janu>y #a1 #bjae & ins]t+ ,janu>y #a1 #bjag4 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjad4 #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 #bjad & ins]t+ ,decemb] #ca1 #bjaf4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to paym5ts receiv$ or accru$ aft] ,decemb] #ca1 #bjad4 #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 #bjad & ins]t+ ,decemb] #ca1 #bjaf4 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjad4 #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 #bjad & ins]t+ ,decemb] #ca1 #bjaf4 7b7 ,effective date 7#a7 ,9 g5]al ,! am5dm5t made by ?is section %all take effect on ,janu>y #a1 #bjae4 ,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 #bjad1 & 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$-- 7#a7 by /rik+ ,janu>y #a1 #bjae & ins]t+ ,janu>y #a1 #bjag1 & 7#b7 by /rik+ ,decemb] #ca1 #bjad & ins]t+ ,decemb] #ca1 #bjaf4 7b7 ,special rule = income d]iv$ 9 ! active conduct ( bank+1 f9anc+1 or simil> bus9esses ,p>agraph 7#i7 ( section #ied7;h7 is am5d$ by /rik+ ,janu>y #a1 #bjae & ins]t+ ,janu>y #a1 #bjag4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s ( =eign corporations beg9n+ aft] ,decemb] #ca1 #bjad1 & 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 #bjae & ins]t+ ,janu>y #a1 #bjag4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to taxable ye>s ( =eign corporations beg9n+ aft] ,decemb] #ca1 #bjad1 & 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$-- 7#a7 by /rik+ ,janu>y #a1 #bjae & ins]t+ ,janu>y #a1 #bjag1 & 7#b7 by /rik+ & #bjad 9 ! head+ & ins]t+ #bjad1 #bjae1 & #bjaf4 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to /ock acquir$ aft] ,decemb] #ca1 #bjad4 #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 #bjad & ins]t+ ,decemb] #ca1 #bjaf4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to contributions made 9 taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjad4 #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+ or #bjad & ins]t+ #bjad1 #bjae1 or #bjaf1 & 7#b7 by /rik+ & #bjad 9 ! head+ & ins]t+ #bjad1 #bjae1 & #bjaf4 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjad4 #aci4 ,ext5sion & modification ( emp[]m5t zone tax inc5tives 7a7 ,9 g5]al 7#a7 ,ext5sion ,clause 7i7 ( section #acia7;d77#a77;,a7 is am5d$ by /rik+ ,decemb] #ca1 #bjad & ins]t+ ,decemb] #ca1 #bjaf4 7#b7 ,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 7#c7 ,effective date ,! am5dm5t made by ?is subsection %all apply to p]iods aft] ,decemb] #ca1 #bjad4 7b7 ,modification ,clause 7i7 ( section #acid7;b77#c77;,b7 is am5d$-- 7#a7 by /rik+ ,ref]5ces & ins]t+ ! foll[+3 7,i7 ,9 g5]al ,except z provid$ 9 subclause 7,,ii71 ref]5ces 1 & 7#b7 by add+ at ! end ! foll[+ new subclause3 7,,ii7 ,special rule = employee resid5ce te/ ,= purposes ( subsection 7b77#f7 & 7c77#e7 ( section #acig;,c1 an employee %all be treat$ z a resid5t ( an emp[]m5t zone if su* employee is a resid5t ( an emp[]m5t zone1 an ent]prise community1 or a qualifi$ l[-income community )9 an applicable nom9at+ jurisdiction4 4 7c7 ,def9itions 7#a7 ,qualifi$ l[-income community ,p>agraph 7#c7 ( section #acid7;b7 is am5d$ by r$esignat+ subp>agraphs 7,c7 & 7,d7 z subp>agraphs 7,d7 & 7,e71 respectively1 & by ins]t+ aft] subp>agraph 7,b7 ! foll[+ new subp>agraph3 7,c7 ,qualifi$ l[-income community ,= purposes ( subp>agraph 7,b7-- 7i7 ,9 g5]al ,! t]m qualifi$ l[-income community means any population c5sus tract if-- 7,i7 ! pov]ty rate = su* tract is at lea/ #bj p]c5t1 or 7,,ii7 ! m$ian family income = su* tract does n exce$ #hj p]c5t ( /atewide m$ian family income 7or1 9 ! case ( a tract locat$ )9 a metropolitan area1 metropolitan area m$ian family income if great]74 ,subclause 7,,ii7 %all be appli$ us+ possessionwide m$ian family income 9 ! case ( c5sus tracts locat$ )9 a possession ( ! ,unit$ ,/ates4 7ii7 ,t>get$ populations ,! ,secret>y %all prescribe regulations "u :i* #a or m t>get$ populations 7)9 ! mean+ ( section #ajc7bj7 ( ! ,riegle ,community ,developm5t & ,regulatory ,improvem5t ,act ( #aiid7 may be treat$ z qualifi$ l[-income communities4 7iii7 ,areas n )9 c5sus tracts ,9 ! case ( an area :i* is n tract$ = population c5sus tracts1 ! equival5t c\nty divisions 7z def9$ by ! ,bureau ( ! ,c5sus = purposes ( def9+ pov]ty areas7 %all be us$ = purposes ( det]m9+ pov]ty rates & m$ian family income4 7iv7 ,modification ( income requirem5t = c5sus tracts )9 high migration rural c\nties 7,i7 ,9 g5]al ,9 ! case ( a population c5sus tract locat$ )9 a high migration rural c\nty1 clause 7i77,,ii7 %all be appli$ to areas n locat$ )9 a metropolitan area by sub/itut+ #he p]c5t = #hj p]c5t4 7,,ii7 ,high migration rural c\nty ,= purposes ( ?is clause1 ! t]m high migration rural c\nty means any c\nty :i*1 dur+ ! #bj-ye> p]iod end+ ) ! ye> 9 :i* ! mo/ rec5t c5sus 0 conduct$1 has a net out-migration ( inhabitants f ! c\nty ( at lea/ #aj p]c5t ( ! population ( ! c\nty at ! beg9n+ ( su* p]iod4 4 7#b7 ,applicable nom9at+ jurisdiction ,subp>agraph 7,d7 ( section #acid7;b77#c71 z r$esignat$ by p>agraph 7#a71 is am5d$ by add+ at ! end ! foll[+ new clause3 7iii7 ,applicable nom9at+ jurisdiction ,! t]m applicable nom9at+ jurisdiction means1 ) respect to any emp[]m5t zone or ent]prise community1 any local gov]nm5t t nom9at$ su* community = designation "u section #acia4 4 7d7 ,con=m+ am5dm5ts 7#a7 ,clause 7iii7 ( section #acid7;b77#c77;,b7 is am5d$ by /rik+ or an ent]prise community & ins]t+ 1 an ent]prise community1 or a qualifi$ l[-income community )9 an applicable nom9at+ jurisdiction4 7#b7 ,subp>agraph 7,d7 ( section #acid7;b77#c71 z r$esignat$ by subsection 7c77#a71 is am5d$ by /rik+ ,def9itions & ins]t+ ,o!r def9itions4 7e7 ,effective date ,! am5dm5ts made by subsections 7b71 7c71 & 7d7 %all apply to bonds issu$ be=e1 on1 or aft] ! date ( ! enactm5t ( ?is ,act & n r$eem$ be=e ! date ( ! enactm5t ( ?is ,act4 #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 #bjae & ins]t+ ,janu>y #a1 #bjag4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to di/ill$ spirits br\ght into ! ,unit$ ,/ates aft] ,decemb] #ca1 #bjad4 #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 #bjae ea* place x appe>s & ins]t+ ,janu>y #a1 #bjag1 7#b7 by /rik+ fir/ #i taxable ye>s 9 p>agraph 7#a7 & ins]t+ fir/ #aa taxable ye>s1 & 7#c7 by /rik+ fir/ #c taxable ye>s 9 p>agraph 7#b7 & ins]t+ fir/ #e taxable ye>s4 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjad4 ,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 #bjad & ins]t+ ,decemb] #ca1 #bjaf4 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 ,in/allation co/s = qualifi$ en]gy effici5cy improvem5ts ,p>agraph 7#a7 ( subsection 7c7 ( section #be;,c is am5d$ by add+ at ! end ! foll[+ flu% s5t5ce3 ,su* t]m includes exp5ditures = labor co/s prop]ly allocable to ! onsite prep>ation1 assembly1 or orig9al in/allation ( ! compon5t4 4 7g7 ,effective date ,! am5dm5ts made by ?is section %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjad4 #aeb4 ,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 #bjaf4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to prop]ty pur*as$ aft] ,decemb] #ca1 #bjad4 #aec4 ,ext5sion ( cr$it = alt]native fuel vehicle refuel+ prop]ty 7a7 ,9 g5]al ,subsection 7g7 ( section #cj;,c is am5d$ by /rik+ ,decemb] #ca1 #bjad & ins]t+ ,decemb] #ca1 #bjaf4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjad4 #aed4 ,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 #bjae & ins]t+ ,janu>y #a1 #bjag4 7b7 ,effective date ,! am5dm5t made by ?is subsection %all apply to qualifi$ second g5]ation bi(uel production aft] ,decemb] #ca1 #bjad4 #aee4 ,ext5sion & re=m ( biodiesel tax inc5tives 7a7 ,income tax cr$it 7#a7 ,ext5sion 7,a7 ,cr$its = biodiesel & r5ewable diesel us$ z fuel ,subsection 7g7 ( section #dj;,a is am5d$ by /rik+ ,decemb] #ca1 #bjad & ins]t+ ,decemb] #ca1 #bjaf4 7,b7 ,effective date ,! am5dm5t made by ?is p>agraph %all apply to fuel sold or us$ aft] ,decemb] #ca1 #bjad4 7#b7 ,re=m ( income tax cr$it 7,a7 ,9 g5]al ,s mu* ( section #dj;,a z prec$es subsection 7c7 is am5d$ to read z foll[s3 #dj;,a4 ,biodiesel fuels cr$it 7a7 ,9 g5]al ,= purposes ( section #ch1 9 ! case ( an eligible taxpay]1 ! biodiesel fuels cr$it det]m9$ "u ?is section = ! taxable ye> is #a4jj = ea* gallon ( biodiesel produc$ by ! taxpay] :i* dur+ ! taxable ye>-- 7#a7 is sold by ! produc] ( su* biodiesel to ano!r p]son-- 7,a7 = use by su* o!r p]son's trade or bus9ess z a fuel or 9 ! production ( a biodiesel mixture 7o!r ?an casual (f-f>m production71 or 7,b7 :o sells su* biodiesel at retail to ano!r p]son & places su* biodiesel 9 ! fuel tank ( su* o!r p]son1 or 7#b7 is us$ by su* produc] = any purpose describ$ 9 p>agraph 7#a74 7b7 ,increas$ cr$it = small produc]s 7#a7 ,9 g5]al ,9 ! case ( any eligible small biodiesel produc]1 subsection 7a7 %all be appli$ by increas+ ! doll> am\nt conta9$ !re9 by #aj c5ts4 7#b7 ,limitation ,p>agraph 7#a7 %all only apply ) respect to ! fir/ #ae1jjj1jjj gallons ( biodiesel produc$ by any eligible small biodiesel produc] dur+ any taxable ye>4 4 7,b7 ,def9itions & special rules ,section #dj;,a7d7 is am5d$ by /rik+ all t foll[s p>agraph 7#a7 & ins]t+ ! foll[+ 7#b7 ,eligible taxpay] 7,a7 ,9 g5]al ,! t]m eligible taxpay] means1 ) respect to any gallon ( biodiesel1 ! produc] ( su* gallon if su* produc] has paid ! tax impos$ by section #djha on su* biodiesel4 7,b7 ,special rule = eligible discretion>y bl5d]s ,= purposes ( ?is section 7o!r ?an subsection 7b771 an eligible discretion>y bl5d] %all be treat$ z ! produc] ( any gallon ( biodiesel :i* is us$ to make a qualifi$ biodiesel mixture if-- 7i7 ! produc] ( su* biodiesel 7det]m9$ )\t reg>d to ?is subp>agraph7-- 7,i7 did n pay ! tax impos$ "u section #djha ) respect to su* gallon1 & 7,,ii7 assigns ! cr$it all[$ "u ?is section to ! eligible discretion>y bl5d] 9 su* =m & mann] z provid$ by ! ,secret>y1 & 7ii7 su* eligible discretion>y bl5d] pays ! tax impos$ "u section #djha ) respect to su* gallon4 ,= purposes ( ! prec$+ s5t5ce1 an eligible discretion>y bl5d] %all be treat$ z produc+ a gallon ( biodiesel 9 ! taxable ye> 9 :i* ! sale or use ( ! qualifi$ biodiesel mixture occurs4 7,c7 ,eligible discretion>y bl5d] ,= purposes ( subp>agraph 7,b71 ! t]m eligible discretion>y bl5d] means any p]son :o-- 7i7 is regi/]$ "u section #daja z a bl5d] ( qualifi$ biodiesel mixtures1 & 7ii7 has us$ #aj1jjj1jjj or m gallons ( biodiesel 9 ! production ( qualifi$ biodiesel mixtures 9 ! prec$+ taxable ye>4 7#c7 ,biodiesel mixture2 qualifi$ biodiesel mixture 7,a7 ,biodiesel mixture ,! t]m biodiesel mixture means a mixture consi/s ( biodiesel & diesel fuel 7z def9$ 9 section #djhc7;a77#c771 det]m9$ )\t reg>d to any use ( k]os5e4 7,b7 ,qualifi$ biodiesel mixture 7i7 ,9 g5]al ,! t]m qualifi$ biodiesel mixture means a biodiesel mixture :i* is produc$ by an eligible discretion>y bl5d] &-- 7,i7 sold by su* eligible discretion>y bl5d] to any p]son = use z a fuel1 or 7,,ii7 us$ by su* eligible discretion>y bl5d] z a fuel4 7ii7 ,sale or use mu/ be 9 trade or bus9ess1 etc ,a biodiesel mixture %all n be treat$ z a qualifi$ biodiesel mixture unless ! sale or use describ$ 9 clause 7i7 is 9 a trade or bus9ess ( ! eligible discretion>y bl5d]4 7#d7 ,biodiesel n us$ = a qualifi$ purpose ,if-- 7,a7 any cr$it 0 det]m9$ ) respect to any biodiesel "u ?is section1 & 7,b7 any p]son uses su* biodiesel = a purpose n describ$ 9 subsection 7a71 !n !re is h]eby impos$ on su* p]son a tax equal to ! product ( ! rate applicable "u subsection 7a7 & ! numb] ( gallons ( su* biodiesel4 7#e7 ,pass-?ru 9 ! case ( e/ates & tru/s ,"u regulations prescrib$ by ! ,secret>y1 rules simil> to ! rules ( subsection 7d7 ( section #eb %all apply4 7#f7 ,limitation to biodiesel ) connection to ! unit$ /ates ,no cr$it %all be det]m9$ "u subsection 7a7 ) respect to biodiesel unless su* biodiesel is produc$ 9 ! ,unit$ ,/ates4 ,= purposes ( ?is p>agraph1 ! t]m ,unit$ ,/ates includes any possession ( ! ,unit$ ,/ates4 4 7,c7 ,rules = small biodiesel produc]s 7i7 ,9 g5]al ,section #dj;,a7e7 is am5d$-- 7,i7 by /rik+ agri-biodiesel ea* place x appe>s 9 p>agraphs 7#a7 & 7#e77;,a7 & ins]t+ biodiesel1 7,,ii7 by /rik+ subsection 7b77#d77;,c7 ea* place x appe>s 9 p>agraphs 7#b7 & 7#c7 & ins]t+ subsection 7b77#b71 & 7,,iii7 by /rik+ subsection 7a77#c7 ea* place x appe>s 9 p>agraphs 7#e77;,a71 7#f77;,a77i71 & 7#f77;,b77i7 & ins]t+ subsection 7b74 7ii7 ,! head+ = subsection 7e7 ( section #dj;,a is am5d$ by /rik+ agri-biodiesel & ins]t+ biodiesel4 7iii7 ,! head+s = p>agraphs 7#a7 & 7#f7 ( section #dj;,a7e7 are ea* am5d$ by /rik+ agri-biodiesel & ins]t+ biodiesel4 7,d7 ,con=m+ am5dm5ts relat$ to r5ewable diesel ,section #dj;,a7f7 is am5d$-- 7i7 by /rik+ ,subsection 7b77#d7 & ins]t+ ,subsection 7b71 & 7ii7 by /rik+ p>agraph 7#d7 & ins]t+ ! foll[+3 7#d7 ,c]ta9 aviation fuel ,except z provid$ 9 ! la/ #c s5t5ces ( p>agraph 7#b71 ! t]m r5ewable diesel %all include fuel d]iv$ f biomass :i* meets ! requirem5ts ( a ,dep>tm5t ( ,def5se specification = milit>y jet fuel or an ,am]ican ,society ( ,te/+ & ,mat]ials specification = aviation turb9e fuel4 4 7,e7 ,regi/ration ( eligible discretion>y bl5d]s ,section #daja7;a77#a7 is am5d$-- 7i7 by /rik+ & be=e e p]son produc+ second g5]ation bi(uel1 & 7ii7 by ins]t+ 1 & e p]son produc+ qualifi$ biodiesel mixtures 7z def9$ 9 section #dj;,a7d77#c77 aft] section #dj7;b77#f77;,e77 9 excess ( #aj1jjj1jjj gallons p] ye>4 7,f7 ,cl]ical am5dm5t ,! table ( sections = subp>t ,d ( "p ,,iv ( sub*apt] ,a ( *apt] #a is am5d$ by /rik+ ! item relat+ to section #dj;,a & ins]t+ ! foll[+ new item3 ,sec4 #dj;,a4 ,biodiesel fuels cr$it4 4 7,g7 ,effective date ,! am5dm5ts made by ?is p>agraph %all apply to fuel sold or us$ aft] ,decemb] #ca1 #bjae4 7b7 ,excise tax inc5tives 7#a7 ,ext5sion 7,a7 ,9 g5]al ,p>agraph 7#f7 ( section #fdbf7;c7 is am5d$ by /rik+ ,decemb] #ca1 #bjad & ins]t+ ,decemb] #ca1 #bjaf4 7,b7 ,paym5ts ,subp>agraph 7,b7 ( section #fdbg7;e77#f7 is am5d$ by /rik+ ,decemb] #ca1 #bjad & ins]t+ ,decemb] #ca1 #bjaf4 7,c7 ,effective date ,! am5dm5ts made by ?is p>agraph %all apply to fuel sold or us$ aft] ,decemb] #ca1 #bjad4 7,d7 ,special rule = c]ta9 p]iods dur+ #bjae ,not)/&+ any o!r provision ( law1 9 ! case ( any biodiesel mixture cr$it prop]ly det]m9$ "u section #fdbf7;c7 ( ! ,int]nal ,rev5ue ,code ( #aihf = p]iods aft] ,decemb] #ca1 #bjad1 & on or be=e ! la/ day ( ! fir/ cal5d> qu>t] end+ aft] ! date ( ! enactm5t ( ?is ,act1 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 7#b7 ,re=m ( excise tax cr$it 7,a7 ,9 g5]al ,subsection 7c7 ( section #fdbf is am5d$-- 7i7 by /rik+ all t prec$es p>agraph 7#f7 & ins]t+ ! foll[+3 7c7 ,biodiesel production cr$it 7#a7 ,9 g5]al ,= purposes ( ?is section1 9 ! case ( an eligible taxpay]1 ! biodiesel production cr$it is #a4jj = ea* gallon ( biodiesel produc$ by ! taxpay] & :i*-- 7,a7 is sold by su* produc] to ano!r p]son-- 7i7 = use by su* o!r p]son's trade or bus9ess z a fuel or 9 ! production ( a biodiesel mixture 7o!r ?an casual (f-f>m production71 or 7ii7 :o sells su* biodiesel at retail to ano!r p]son & places su* biodiesel 9 ! fuel tank ( su* o!r p]son1 or 7,b7 is us$ by su* produc] = any purpose describ$ 9 subp>agraph 7,a74 7#b7 ,special rule = eligible discretion>y bl5d]s ,= purposes ( ?is subsection & section #fdbg7;e77#c71 an eligible discretion>y bl5d] %all be treat$ z ! produc] ( any gallon ( biodiesel :i* is us$ to make a qualifi$ biodiesel mixture if-- 7,a7 ! produc] ( su* biodiesel 7det]m9$ )\t reg>d to ?is subp>agraph7-- 7i7 did n pay ! tax impos$ "u section #djha ) respect to su* gallon1 & 7ii7 assigns ! cr$it all[$ "u ?is section to ! eligible discretion>y bl5d] 9 su* =m & mann] z provid$ by ! ,secret>y1 & 7,b7 su* eligible discretion>y bl5d] pays ! tax impos$ "u section #djha ) respect to su* gallon4 ,= purposes ( ! prec$+ s5t5ce1 an eligible discretion>y bl5d] %all n be treat$ z produc+ a gallon ( biodiesel be=e ! date on :i* ! sale or use ( ! qualifi$ biodiesel mixture occurs4 7#c7 ,def9itions ,any t]m us$ 9 ?is subsection :i* is also us$ 9 section #dj;,a %all h ! mean+ giv5 su* t]m by section #dj;,a4 1 & 7ii7 by r$esignat+ p>agraph 7#f71 z am5d$ by p>agraph 7#a77;,a71 z p>agraph 7#d74 7,b7 ,produc] regi/ration requirem5t ,subsection 7a7 ( section #fdbf is am5d$ by /rik+ subsections 7d7 & 7e7 9 ! flu% s5t5ce at ! end & ins]t+ subsections 7c71 7d71 & 7e74 7,c7 ,recapture 7i7 ,9 g5]al ,subsection 7f7 ( section #fdbf is am5d$-- 7,i7 by /rik+ or biodiesel ea* place x appe>s 9 subp>agraphs 7,a7 & 7,b77i7 ( p>agraph 7#a71 7,,ii7 by /rik+ or biodiesel mixture 9 p>agraph 7#a77;,a71 & 7,,iii7 by r$esignat+ p>agraph 7#b7 z p>agraph 7#c7 & by ins]t+ aft] p>agraph 7#a7 ! foll[+ new p>agraph3 7#b7 ,biodiesel ,if any cr$it 0 det]m9$ "u ?is section or paid pursuant to section #fdbg7;e7 ) respect to ! production ( any biodiesel & any p]son uses su* biodiesel = a purpose n describ$ 9 subsection 7c77#a71 !n !re is h]eby impos$ on su* p]son a tax equal to #a = ea* gallon ( su* biodiesel4 4 7ii7 ,con=m+ am5dm5ts 7,i7 ,p>agraph 7#c7 ( section #fdbf7;f71 z r$esignat$ by clause 7i77,,iii71 is am5d$ by ins]t+ or 7#b7 aft] p>agraph 7#a74 7,,ii7 ,! head+ = p>agraph 7#a7 ( section #fdbf7;f7 is am5d$ by /rik+ ,imposition ( tax & ins]t+ ,9 g5]al4 7,d7 ,limitation ,section #fdbf7;i7 is am5d$-- 7i7 9 p>agraph 7#b7-- 7,i7 by /rik+ biodiesel or1 & 7,,ii7 by /rik+ ,biodiesel & 9 ! head+1 & 7ii7 by ins]t+ aft] p>agraph 7#b7 ! foll[+ new p>agraph3 7#c7 ,biodiesel ,no cr$it %all be det]m9$ "u ?is section ) respect to biodiesel unless su* biodiesel is produc$ 9 ! ,unit$ ,/ates4 4 7,e7 ,cl]ical am5dm5ts 7i7 ,! head+ ( section #fdbf is am5d$ by /rik+ alcohol fuel1 biodiesel1 & alt]native fuel mixtures & ins]t+ alcohol fuel mixtures1 biodiesel production1 & alt]native fuel mixtures4 7ii7 ,! item relat+ to section #fdbf 9 ! table ( sections = sub*apt] ,b ( *apt] #fe is am5d$ by /rik+ alcohol fuel1 biodiesel1 & alt]native fuel mixtures & ins]t+ alcohol fuel mixtures1 biodiesel production1 & alt]native fuel mixtures4 7,f7 ,effective date ,! am5dm5ts made by ?is p>agraph %all apply to fuel sold or us$ aft] ,decemb] #ca1 #bjae4 7#c7 ,re=m ( excise paym5ts ( cr$it 7,a7 ,9 g5]al ,subsection 7e7 ( section #fdbg1 z am5d$ by p>agraph 7#a77;,b71 is am5d$-- 7i7 by /rik+ or ! biodiesel mixture cr$it 9 p>agraph 7#a71 7ii7 by r$esignat+ p>agraphs 7#c7 ?r\gh 7#f7 z p>agraphs 7#d7 ?r\gh 7#g71 respectively1 & by ins]t+ aft] p>agraph 7#b7 ! foll[+ new p>agraph3 7#c7 ,biodiesel production cr$it ,if any p]son produces biodiesel & sells or uses su* biodiesel z provid$ 9 section #fdbf7;c77#a71 ! ,secret>y %all pay 7)\t int]e/7 to su* p]son an am\nt equal to ! biodiesel production cr$it ) respect to su* biodiesel4 1 7iii7 by /rik+ p>agraph 7#a7 or 7#b7 ea* place x appe>s 9 p>agraphs 7#d7 & 7#f71 z r$esignat$ by p>agraph 7#b71 & ins]t+ p>agraph 7#a71 7#b71 or 7#c71 7iv7 by /rik+ alt]native fuel ea* place x appe>s 9 p>agraphs 7#d7 & 7#f71 z r$esignat$ by p>agraph 7#b71 & ins]t+ fuel1 & 7v7 by /rik+ biodiesel mixture 7z def9$ 9 section #fdbf7;c77#c77 9 p>agraph 7#g77;,b71 z s r$esignat$1 & ins]t+ biodiesel 7)9 ! mean+ ( section #dj;,a74 7,b7 ,effective date ,! am5dm5ts made by ?is p>agraph %all apply to fuel sold or us$ aft] ,decemb] #ca1 #bjae4 7c7 ,treatm5t ( biodiesel z a taxable fuel 7#a7 ,9 g5]al 7,a7 ,taxable fuel includes biodiesel ,p>agraph 7#a7 ( section #djhc7;a7 is am5d$ by /rik+ & at ! end ( subp>agraph 7,b71 by /rik+ ! p]iod at ! end ( subp>agraph 7,c7 & ins]t+ 1 &1 & by add+ at ! end ! foll[+ new subp>agraph3 7,d7 biodiesel4 4 7,b7 ,biodiesel def9$ ,subsection 7a7 ( section #djhc is am5d$ by add+ at ! end ! foll[+ new p>agraph3 7#d7 ,biodiesel ,! t]m biodiesel has ! mean+ giv5 su* t]m "u section #dj;,a7d77#a71 det]m9$ )\t reg>d to ! la/ s5t5ce !re(4 4 7#b7 ,biodiesel production facilities treat$ z ref9]ies 7,a7 ,9 g5]al ,subsection 7a7 ( section #djha is am5d$ by add+ at ! end ! foll[+ new p>agraph3 7#e7 ,biodiesel production facilities & bl5d+ facilities treat$ z ref9]ies ,= purposes ( ?is "p-- 7,a7 any facility :i* is us$ to produce biodiesel1 & 7,b7 any biodiesel bl5d+ facility1 %all be treat$ z a ref9]y ) respect to biodiesel4 4 7,b7 ,biodiesel bl5d+ facility def9$ ,section #djhc is am5d$ by add+ at ! end ! foll[+ new subsection3 7e7 ,biodiesel bl5d+ facility ,= purposes ( ?is subp>t1 ! t]m biodiesel bl5d+ facility means any facility t is op]at$ by an eligible discretion>y bl5d] 7z def9$ 9 section #dj;,a7d77#b77;,c774 4 7,c7 ,bulk transf]s ,subp>agraph 7,b7 ( section #djha7;a77#a7 is am5d$ by add+ at ! end ! foll[+ new clause3 7iii7 ,special rules = biodiesel ,! tax impos$ by ?is p>agraph %all n apply to ! removal or entry ( biodiesel to any ref9]y or t]m9al if ! p]son remov+ or ent]+ ! biodiesel & ! op]ator ( ! ref9]y or t]m9al are regi/]$ "u section #daja4 4 7#c7 ,rate ( tax ,subp>agraph 7,a77iii7 ( section #djha7;a77#b7 is am5d$ by /rik+ diesel fuel or k]os5e & ins]t+ diesel fuel1 k]os5e1 or biodiesel4 7#d7 ,exemptions 7,a7 ,9 g5]al ,section #djhb is am5d$ by /rik+ diesel fuel & k]os5e ea* place x appe>s 9 subsections 7a71 7c71 & 7g7 & ins]t+ diesel fuel1 k]os5e1 & biodiesel4 7,b7 ,con=m+ am5dm5t ,subp>agraph 7,a7 ( section #djhb7;d77#a7 is am5d$ by ins]t+ biodiesel1 aft] diesel fuel14 7#e7 ,o!r con=m+ am5dm5ts 7,a7 ,! head+ = p>agraph 7#a7 ( section #djda7;a7 is am5d$ by /rik+ diesel fuel & k]os5e & ins]t+ diesel fuel1 k]os5e1 & biodiesel4 7,b7 ,p>agraph 7#b7 ( section #fdaf7;b7 is am5d$ by /rik+ diesel fuel or k]os5e & ins]t+ diesel fuel1 k]os5e1 or biodiesel4 7,c7 ,section #fdbg7l7 is am5d$-- 7i7 by /rik+ diesel fuel or k]os5e ea* place x appe>s 9 p>agraph 7#a7 & 7#e77;,a7 & ins]t+ diesel fuel1 k]os5e1 or biodiesel1 7ii7 by /rik+ diesel fuel & k]os5e 9 ! head+ & ins]t+ diesel fuel1 k]os5e1 & biodiesel1 & 7iii7 by /rik+ diesel fuel or k]os5e 9 ! head+ ( p>agraph 7#e7 & ins]t+ diesel fuel1 k]os5e1 or biodiesel4 7,d7 ,section #fgae7;c77#a7 is am5d$ by /rik+ diesel fuel or k]os5e & ins]t+ diesel fuel1 k]os5e1 or biodiesel4 7#f7 ,effective date ,! am5dm5ts made by ?is subsection %all apply to biodiesel sold or us$ aft] ,decemb] #ca1 #bjae4 #aef4 ,ext5sion ( 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+ #i-ye> p]iod ea* place x appe>s & ins]t+ #aa-ye> p]iod4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to coal produc$ aft] ,decemb] #ca1 #bjad4 #aeg4 ,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 #bjae ea* place x appe>s & ins]t+ ,janu>y #a1 #bjag3 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 #bjae & ins]t+ ,janu>y #a1 #bjag4 7c7 ,effective dates ,! am5dm5ts made by ?is section %all take effect on ,janu>y #a1 #bjae4 #aeh4 ,ext5sion ( cr$it = en]gy-effici5t new homes 7a7 ,9 g5]al ,subsection 7g7 ( section #de,l is am5d$ by /rik+ ,decemb] #ca1 #bjad & ins]t+ ,decemb] #ca1 #bjaf4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to homes acquir$ aft] ,decemb] #ca1 #bjad4 #aei4 ,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 #bjae & ins]t+ ,janu>y #a1 #bjag4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjad4 #afj4 ,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 #bjad & ins]t+ ,decemb] #ca1 #bjaf4 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 = #bjaf 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$-- 7i7 by /rik+ ,table #i4c4a4a & ins]t+ ,table #i4e4a1 & 7ii7 by /rik+ ,table #i4c4a4b & ins]t+ ,table #i4f4a4 7#c7 ,effective date ,! am5dm5ts made by ?is subsection %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjae4 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 #bjad4 #afa4 ,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 #bjae & ins]t+ ,janu>y #a1 #bjag4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to dispositions aft] ,decemb] #ca1 #bjad4 #afb4 ,ext5sion ( excise tax cr$its relat+ to alt]native fuels 7a7 ,ext5sion ( alt]native fuels excise tax cr$its 7#a7 ,9 g5]al ,sections #fdbf7;d77#e7 & #fdbf7;e77#c7 are ea* am5d$ by /rik+ ,decemb] #ca1 #bjad & ins]t+ ,decemb] #ca1 #bjaf4 7#b7 ,outlay paym5ts = alt]native fuels ,subp>agraph 7,c7 ( section #fdbg7;e77#g71 z r$esignat$ by section #aee7;b77#c77;,a77ii71 is am5d$ by /rik+ ,decemb] #ca1 #bjad & ins]t+ ,decemb] #ca1 #bjaf4 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to fuel sold or us$ aft] ,decemb] #ca1 #bjad4 7c7 ,special rule = c]ta9 p]iods dur+ #bjae ,not)/&+ any o!r provision ( law1 9 ! case ( 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 ,provision t expir$ 9 #bjac #bja4 ,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+ acquir$ & all t foll[s & ins]t+ 8acquir$-- 7i7 aft] ,decemb] #ca1 #bjaa1 & be=e ,janu>y #a1 #bjad1 & 7ii7 9 ! case ( a vehicle t has #b :eels-- 7,i7 dur+ ! p]iod describ$ 9 clause 7i71 or 7,,ii7 aft] ,decemb] #ca1 #bjad1 & be=e ,janu>y #a1 #bjag4 4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to vehicles acquir$ aft] ,decemb] #ca1 #bjad4 ,,iii ,rev5ue provisions #cja4 ,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 #cjb4 ,treatm5t ( c]ta9 p]sons z employ]s ) respect to motion picture projects 7a7 ,9 g5]al ,*apt] #be 7relat+ to g5]al provisions relat+ to employm5t taxes7 is am5d$ by add+ at ! end ! foll[+ new section3 #ceab4 ,treatm5t ( c]ta9 p]sons z employ]s ) respect to motion picture projects 7a7 ,9 g5]al ,= purposes ( sections #caba7;a77#a7 & #ccjf7;b77#a71 remun]ation paid to a motion picture project work] by a motion picture project employ] dur+ a cal5d> ye> %all be treat$ z remun]ation paid ) respect to employm5t ( su* work] by su* employ] dur+ ! cal5d> ye>4 ,! id5tity ( su* employ] = su* purposes %all be det]m9$ z set =? 9 ?is section & )\t reg>d to ! usual common law rules applicable 9 det]m9+ ! employ]-employee relation%ip4 7b7 ,def9itions ,= purposes ( ?is section-- 7#a7 ,motion picture project employ] ,! t]m motion picture project employ] means any p]son if-- 7,a7 su* p]son 7directly or ?r\gh affiliates7-- 7i7 is a p>ty to a writt5 contract cov]+ ! s]vices ( motion picture project work]s ) respect to motion picture projects 9 ! c\rse ( a cli5t's trade or bus9ess1 7ii7 is contractually obligat$ to pay remun]ation to ! motion picture project work]s )\t reg>d to paym5t or reimbursem5t by any o!r p]son1 7iii7 controls ! paym5t 7)9 ! mean+ ( section #cdja7;d77#a77 ( remun]ation to ! motion picture project work]s & pays su* remun]ation f its own acc\nt or acc\nts1 7iv7 is a signatory to "o or m collective b>ga9+ agreem5ts ) a labor organization 7z def9$ 9 #bi ,u4,s4,c4 #aeb7e77 t repres5ts motion picture project work]s1 & 7v7 has treat$ sub/antially all motion picture project work]s t su* p]son pays z employees & n z indep5d5t contractors dur+ su* cal5d> ye> = purposes ( det]m9+ employm5t taxes "u ?is subtitle1 & 7,b7 at lea/ #hj p]c5t ( all remun]ation 7to :i* section #caba applies7 paid by su* p]son 9 su* cal5d> ye> is paid to motion picture project work]s4 7#b7 ,motion picture project work] ,! t]m motion picture project work] means any individual :o provides s]vices on motion picture projects = cli5ts :o are n affiliat$ ) ! motion picture project employ]4 7#c7 ,motion picture project ,! t]m motion picture project means ! production ( any prop]ty describ$ 9 section #afh7;f77#c74 ,su* t]m does n include prop]ty ) respect to :i* records are requir$ to be ma9ta9$ "u section #bbeg ( title #ah1 ,unit$ ,/ates ,code4 7#d7 ,affiliate2 affiliat$ ,a p]son %all be treat$ z an affiliate (1 or affiliat$ )1 ano!r p]son if su* p]sons are treat$ z a s+le employ] "u subsection 7b7 or 7c7 ( section #dad4 4 7b7 ,cl]ical am5dm5t ,! table ( sections = su* *apt] #be is am5d$ by add+ at ! end ! foll[+ new item3 ,sec4 #ceab4 ,treatm5t ( c]ta9 p]sons z employ]s ) respect to motion picture projects44 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to remun]ation paid aft] ,decemb] #ca1 #bjae4 7d7 ,no inf]5ce ,no?+ 9 ! am5dm5ts made by ?is section %all be con/ru$ to create any inf]5ce on ! law be=e ! date ( ! enactm5t ( ?is ,act4 #cjc4 ,equalization ( excise tax & cr$its ) respect to liquefi$ petroleum gas & liquefi$ natural gas 7a7 ,liquefi$ petroleum gas 7#a7 ,9 g5]al ,subp>agraph 7,b7 ( section #djda7;a77#b7 is am5d$ by /rik+ & at ! end ( clause 7i71 by r$esignat+ clause 7ii7 z clause 7iii71 & by ins]t+ aft] clause 7i7 ! foll[+ new clause3 7ii7 9 ! case ( liquefi$ petroleum gas1 #ah4c c5ts p] en]gy equival5t ( a gallon ( gasol9e1 & 4 7#b7 ,en]gy equival5t ( a gallon ( gasol9e ,p>agraph 7#b7 ( section #djda7;a7 is am5d$ by add+ at ! end ! foll[+3 7,c7 ,en]gy equival5t ( a gallon ( gasol9e ,= purposes ( ?is p>agraph1 ! t]m en]gy equival5t ( a gallon ( gasol9e means1 ) respect to a liquefi$ petroleum gas fuel1 ! am\nt ( su* fuel hav+ a ,btu cont5t ( #aae1djj 7l[] heat+ value74 4 7b7 ,liquefi$ natural gas 7#a7 ,9 g5]al ,subp>agraph 7,b7 ( section #djda7;a77#b71 z am5d$ by subsection 7a77#a71 is am5d$ by /rik+ & at ! end ( clause 7ii71 by /rik+ ! p]iod at ! end ( clause 7iii7 & ins]t+ 1 & & by ins]t+ aft] clause 7iii7 ! foll[+ new clause3 7iv7 9 ! case ( liquefi$ natural gas1 #bd4c c5ts p] en]gy equival5t ( a gallon ( diesel4 4 7#b7 ,en]gy equival5t ( a gallon ( diesel ,p>agraph 7#b7 ( section #djda7;a71 z am5d$ by subsection 7a77#b71 is am5d$ by add+ at ! end ! foll[+3 7,d7 ,en]gy equival5t ( a gallon ( diesel ,= purposes ( ?is p>agraph1 ! t]m en]gy equival5t ( a gallon ( diesel means1 ) respect to a liquefi$ natural gas fuel1 ! am\nt ( su* fuel hav+ a ,btu cont5t ( #abh1gjj 7l[] heat+ value74 4 7#c7 ,con=m+ am5dm5ts ,section #djda7;a77#b77;,b77iii71 z r$esignat$ by subsection 7a77#a71 is am5d$-- 7,a7 by /rik+ liquefi$ natural gas11 & 7,b7 by /rik+ peat71 & & ins]t+ peat7 &4 7c7 ,cr$its ,section #fdbf is am5d$ by add+ at ! end ! foll[+ new subsection3 7j7 ,en]gy equival5cy det]m9ations = liquefi$ petroleum gas & liquefi$ natural gas ,= purposes ( det]m9+ any cr$it "u ?is section1 any ref]5ce to ! numb] ( gallons ( an alt]native fuel or ! gasol9e gallon equival5t ( su* a fuel %all be treat$ z a ref]5ce to-- 7#a7 9 ! case ( liquefi$ petroleum gas1 ! en]gy equival5t ( a gallon ( gasol9e1 z def9$ 9 section #djda7;a77#b77;,c71 & 7#b7 9 ! case ( liquefi$ natural gas1 ! en]gy equival5t ( a gallon ( diesel1 z def9$ 9 section #djda7;a77#b77;,d74 4 7d7 ,effective date ,! am5dm5ts made by ?is section %all apply to fuel sold or us$ aft] ,decemb] #ca1 #bjad4 #cjd4 ,additional in=mation on returns relat+ to mortgage int]e/ 7a7 ,9 g5]al ,p>agraph 7#b7 ( section #fjej;,h7b7 is am5d$ by /rik+ & at ! end ( subp>agraph 7,c71 by r$esignat+ subp>agraph 7,d7 z subp>agraph 7,g71 & by ins]t+ aft] subp>agraph 7,c7 ! foll[+ new subp>agraphs3 7,d7 ! am\nt ( out/&+ pr9cipal on ! mortgage at ! beg9n+ ( ! cal5d> ye>1 7,e7 ! address ( ! prop]ty secur+ su* mortgage1 7,f7 ! date ( ! orig9ation ( su* mortgage1 & 4 7b7 ,payee /atem5ts ,subsection 7d7 ( section #fjej;,h is am5d$ by /rik+ & at ! end ( p>agraph 7#a71 by /rik+ ! p]iod at ! end ( p>agraph 7#b7 & ins]t+ 1 &1 & by ins]t+ aft] p>agraph 7#b7 ! foll[+ new p>agraph3 7#c7 ! in=mation requir$ to be includ$ on ! return "u subp>agraphs 7,d71 7,e71 & 7,f7 ( subsection 7b77#b74 4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to returns & /atem5ts ! due date = :i* 7det]m9$ )\t reg>d to ext5sions7 is aft] ,decemb] #ca1 #bjaf4 ,,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 ,augu/ #e1 #bjae,read twice & plac$ on ! cal5d>