,i  #aah? ,,congress  #a/ ,session  ,h4 
,r4 #efee  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,septemb] #ba1        
#bjbc,ms4 ,p]ez introduc$ ! foll[+ bill2
 :i* 0 ref]r$ to ! ,committee on ,ways &
 ,means  ,a ,,bill  ,to am5d ! ,int]nal 
,rev5ue ,code ( #aihf to e/abli% tax    
cr$its = p]sonal locator beacons on     
c]ta9 vessels4  #a4 ,%ort title ,?is    
,act may be cit$ z ! ,bryson ,fit*      
,fi%]m5 ,protection ,act4  #b4 ,bus9ess 
tax cr$it = locator beacons  7a7 ,9     
g5]al ,subp>t ,d ( "p ,,iv ( sub*apt] ,a
 ( *apt] #a ( ! ,int]nal ,rev5ue ,code (
 #aihf is am5d$ by add+ at ! end !      
foll[+ new section3  #de;,,bb4 ,locator 
beacon cr$it  7a7 ,9 g5]al ,= purposes (
 section #ch1 9 ! case ( an eligible    
comm]cial fi%+ company1 ! p]sonal       
locator beacon cr$it det]m9$ "u ?is     
section = any taxable ye> is an am\nt   
equal to #ej p]c5t ( ! sum (-- 7#a7 !   
basis ( any qualifi$ beacon plac$ 9     
s]vice by ! taxpay] dur+ su* taxable    
ye>1 &  7#b7 am\nts paid by ! taxpay] = 

! ma9t5ance ( any qualifi$ beacon dur+  
su* taxable ye>4  7b7 ,def9itions ,=    
purposes ( ?is section-- 7#a7 ,qualifi$ 
beacon  7,a7 ,9 g5]al ,! t]m qualifi$   
beacon means a qualifi$ em]g5cy         
position-indicat+ radio beacon or       
qualifi$ p]sonal locator beacon :i* is  
plac$ 9 s]vice on bo>d a qualifi$       
vessel4  7,b7 ,qualifi$ em]g5cy         
position-indicat+ radio beacon ,! t]m   
qualifi$ em]g5cy position-indicat+ radio
 beacon means a device in/all$ on an    
eligible vessel t-- 7i7 transmits       
di/ress signals at a frequ5cy betwe5    
#djf4j & #djf4a ,m,hz1  7ii7 is         
manufactur$ by a company approv$ to     
manufacture beacons by ! ,int]national  
,cospas-,s>sat ,programme1  7iii7 is    
regi/]$ ) ! ,unit$ ,/ates ,national     
,oceanic & ,atmosph]ic ,adm9i/ration1 & 
7iv7 is acquir$ = use on comm]cial fi%+ 
vessels by ! taxpay] :o owns or op]ates 
an eligible vessel4  7,c7 ,qualifi$     
p]sonal locator beacon ,! t]m qualifi$  
p]sonal locator beacon means a device   

design$ to be c>ri$ by an individual t--
 7i7 transmits di/ress signals at a     
frequ5cy betwe5 #djf4j & #djf4a ,m,hz1  
7ii7 is manufactur$ by a company approv$
 to manufacture beacons by !            
,int]national ,cospas-,s>sat ,programme1
  7iii7 is regi/]$ ) ! ,unit$ ,/ates    
,national ,oceanic & ,atmosph]ic        
,adm9i/ration1 &  7iv7 is acquir$ = use 
on comm]cial fi%+ vessels by ! taxpay]  
:o owns or op]ates an eligible vessel4  
7,d7 ,qualifi$ vessel ,! t]m qualifi$   
vessel means an eligible vessel :i* is  
equipp$ ) at lea/ #a qualifi$ p]sonal   
locator beacon = ea* individual on bo>d 
su* vessel4  7#b7 ,eligible comm]cial   
fi%+ company ,! t]m eligible comm]cial  
fi%+ company means a bus9ess :i* owns or
 op]ates 9 ! c\rse ( bus9ess any        
eligible vessel4  7#c7 ,eligible vessel 
,! t]m eligible vessel means a vessel   
describ$ 9 p>agraph 7#ab71 7#ac71 or    
7#ad7 ( section #baja ( title #df1      
,unit$ ,/ates ,code4  7c7 ,t]m9ation    
,?is section %all n apply to taxable    

ye>s beg9n+ aft] ,decemb] #ca1 #bjbh4  4
  7b7 ,cr$it ,to be "p ( g5]al bus9ess  
cr$it ,section #ch7;b7 ( su* ,code is   
am5d$ by /rik+ plus at ! end ( p>agraph 
7#dj71 by /rik+ ! p]iod at ! end (      
p>agraph 7#da7 & ins]t+ 1 plus1 & by    
add+ at ! end ! foll[+ new p>agraph3    
7#db7 9 ! case ( an eligible comm]cial  
fi%+ company 7z def9$ 9 section         
#de;,,bb71 ! locator beacon cr$it       
det]m9$ "u section #de;,,bb7a74  4  7c7 
,cl]ical am5dm5t ,! table ( sections =  
subp>t ,d ( "p ,,iv ( sub*apt] ,a (     
*apt] #a ( su* ,code is am5d$ by add+ at
 ! end ! foll[+ new item3  ,sec4        
#de;,,bb4 ,locator beacon cr$it4  4  7d7
 ,effective date ,! am5dm5ts made by ?is
 section %all apply to beacons plac$ 9  
s]vice 9 taxable ye>s beg9n+ aft]       
,decemb] #ca1 #bjbc4  #c4 ,p]sonal tax  
cr$it = pur*ase ( c]ta9 p]sonal locator 
beacons  7a7 ,9 g5]al ,subp>t ,a ( "p   
,,iv ( sub*apt] ,a ( *apt] #a ( !       
,int]nal ,rev5ue ,code ( #aihf 7relat+  
to nonrefundable p]sonal cr$its7 is     

am5d$ by ins]t+ aft] section #be;,e !   
foll[+ new section3  #be;,f4 ,p]sonal   
tax cr$it = pur*ase ( c]ta9 p]sonal     
locator beacons  7a7 ,all[ance ( cr$it  
,9 ! case ( an individual1 !re %all be  
all[$ z a cr$it aga9/ ! tax impos$ by   
?is *apt] = ! taxable ye> an am\nt equal
 to #ej p]c5t ( ! am\nts paid or incurr$
 by ! taxpay] = ! pur*ase ( a qualifi$  
beacon dur+ ! taxable ye>4  7b7         
,def9itions ,= purposes ( ?is section-- 
7#a7 ,qualifi$ beacon ,! t]m qualifi$   
beacon means a beacon-- 7,a7 describ$ 9 
subp>agraph 7,b7 or 7,c7 ( section      
#de;,,bb7b77#a7 7det]m9$ )\t reg>d to   
subp>agraphs 7,b77iv7 or 7,c77iv7 !re(71
 &  7,b7 :i* is pur*as$ by ! taxpay] =  
use on an eligible vessel :i* is n a    
qualifi$ vessel4  7#b7 ,eligible vessel1
 qualifi$ vessel ,! t]ms eligible vessel
 & qualifi$ vessel h ! mean+ giv5 su*   
t]ms 9 section #de;,,bb7b77#a74  7c7    
,t]m9ation ,?is section %all n apply to 
taxable ye>s beg9n+ aft] ,decemb] #ca1  
#bjbh4  4  7b7 ,cl]ical am5dm5t ,! table

 ( sections = subp>t ,a ( "p ,,iv (     
sub*apt] ,a ( *apt] #a ( su* ,code is   
am5d$ by ins]t+ aft] ! item relat+ to   
section #be;,e ! foll[+ new item3  ,sec4
 #be;,f4 ,p]sonal tax cr$it = pur*ase ( 
c]ta9 p]sonal locator beacons4  4  7c7  
,effective date ,! am5dm5ts made by ?is 
section %all apply to taxable ye>s      
beg9n+ aft] ,decemb] #ca1 #bjbc4