110 HR 4072 IH: To amend the Internal Revenue Code of 1986 to extend U.S. House of Representatives 2007-11-05 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I 110th CONGRESS 1st Session H. R. 4072 IN THE HOUSE OF REPRESENTATIVES November 5, 2007 Mr. Barrow introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes.

1.

Certain expenses of elementary and secondary school teachers

(a)

Increase in deductible amount

Subparagraph (D) of section 62(a)(2) of the Internal Revenue Code of 1986 (relating to certain expenses of elementary and secondary school teachers) is amended by striking $250 and inserting $500. (b)

Extension

Subparagraph (D) of section 62(a)(2) of such Code is amended by striking during 2002, 2003, 2004, 2005, 2006, or 2007 and inserting after December 31, 2001, and before January 1, 2010. (c)

Effective date

The amendments made by this section shall apply to taxable years beginning after December 31, 2007.

2.

Expensing of environmental remediation costs

(a)

In general

Subsection (h) of section 198 of the Internal Revenue Code of 1986 (relating to termination) is amended by striking December 31, 2007 and inserting December 31, 2009. (b)

Effective date

The amendment made by this section shall apply to expenditures paid or incurred after December 31, 2007.

3.

Energy efficient appliance credit

(a)

In general

Paragraph (1) of section 45M(b) of the Internal Revenue Code of 1986 (relating to applicable amount) is amended by striking or 2007 each place it appears and inserting , 2007, 2008, or 2009. (b)

Effective date

The amendments made by this section shall apply to appliances produced after December 31, 2007.