1.Short title; amendment of
1986 Code; table of contents
(a)This Act may be cited as the Alternative Minimum Tax and Extenders Tax Relief Act of
2008
.
(b)Except as otherwise
expressly provided, whenever in this Act an amendment or repeal is expressed in
terms of an amendment to, or repeal of, a section or other provision, the
reference shall be considered to be made to a section or other provision of the
Internal Revenue Code of 1986.
(c)The table of contents of this Act is as follows:
Sec. 1. Short title; amendment of 1986 Code; table of
contents.
TITLE I—Alternative minimum tax relief
Sec. 101. Extension of alternative minimum tax relief for
nonrefundable personal credits.
Sec. 102. Extension of increased alternative minimum tax
exemption amount.
TITLE II—Individual tax provisions
Sec. 201. Deduction for State and local sales
taxes.
Sec. 202. Deduction of qualified tuition and related
expenses.
Sec. 203. Deduction for certain expenses of elementary and
secondary school teachers.
Sec. 204. Tax-free distributions from individual retirement
plans for charitable purposes.
Sec. 205. Treatment of certain dividends of regulated
investment companies.
Sec. 206. Stock in RIC for purposes of determining estates of
nonresidents not citizens.
Sec. 207. Qualified investment entities.
TITLE III—Business tax provisions
Sec. 301. Extension and modification of research
credit.
Sec. 302. New markets tax credit.
Sec. 303. Subpart F exception
for active financing income.
Sec. 304. Extension of look-thru rule for related controlled
foreign corporations.
Sec. 305. Extension of 15-year straight-line cost recovery for
qualified leasehold improvements and qualified restaurant
improvements.
Sec. 306. Enhanced charitable deduction for contributions of
food inventory.
Sec. 307. Extension of enhanced charitable deduction for
contributions of book inventory.
Sec. 308. Modification of tax treatment of certain payments to
controlling exempt organizations.
Sec. 309. Basis adjustment to stock of S corporations making
charitable contributions of property.
Sec. 310. Increase in limit on cover over of rum excise tax to
Puerto Rico and the Virgin Islands.
Sec. 311. Extension of economic development credit for American
Samoa.
Sec. 312. Extension of mine rescue team training
credit.
Sec. 313. Extension of election to expense advanced mine safety
equipment.
Sec. 314. Extension of expensing rules for qualified film and
television productions.
Sec. 315. Deduction allowable with respect to income
attributable to domestic production activities in Puerto Rico.
Sec. 316. Extension of qualified zone academy
bonds.
Sec. 317. Indian employment credit.
Sec. 318. Accelerated depreciation for business property on
Indian reservation.
Sec. 319. Railroad track maintenance.
Sec. 320. Seven-year cost recovery period for motorsports
racing track facility.
Sec. 321. Expensing of environmental remediation
costs.
Sec. 322. Extension of work opportunity tax credit for
Hurricane Katrina employees.
TITLE IV—Extension of clean energy production
incentives
Sec. 401. Extension and modification of renewable energy
production tax credit.
Sec. 402. Extension and modification of solar energy and fuel
cell investment tax credit.
Sec. 403. Extension and modification of residential energy
efficient property credit.
Sec. 404. Extension and modification of credit for clean
renewable energy bonds.
Sec. 405. Extension of special rule to implement FERC
restructuring policy.
TITLE V—Extension of incentives to improve energy
efficiency
Sec. 501. Extension and modification of credit for energy
efficiency improvements to existing homes.
Sec. 502. Extension and modification of tax credit for energy
efficient new homes.
Sec. 503. Extension and modification of energy efficient
commercial buildings deduction.
Sec. 504. Modification and extension of energy efficient
appliance credit for appliances produced after 2007.
TITLE VI—Extension of Alternative fuels and marginal
production
Sec. 601. Percentage depletion for marginal well
production.
Sec. 602. Credits for biodiesel and renewable
diesel.
Sec. 603. Credit for alternative fuels.
TITLE VII—Tax administration
Sec. 701. Permanent authority for undercover
operations.
Sec. 702. Permanent disclosures of certain tax return
information.
Sec. 703. Disclosure of information relating to terrorist
activities.
<enum>I</enum><header>Alternative
minimum tax relief</header>
<section id="H57DC299C7B1245FEBE481139B8F237A6"><enum>101.</enum><header>Extension of
alternative minimum tax relief for nonrefundable personal credits</header>
<subsection id="HEC363C8528CC4D64ADE77577C7B3F5B3"><enum>(a)</enum><header>In
general</header><text>Paragraph (2) of section 26(a) (relating to special rule
for taxable years 2000 through 2007) is amended—</text>
<paragraph id="HB37EAC7763544FEFBF8EBE5127100076"><enum>(1)</enum><text>by striking
<quote>or 2007</quote> and inserting <quote>2007, or 2008</quote>, and</text>
</paragraph><paragraph id="H0753F138348F4CDDA5C28B350027ECAD"><enum>(2)</enum><text>by striking
<quote><header-in-text level="paragraph" style="OLC">2007</header-in-text></quote> in the heading thereof and inserting
<quote><header-in-text level="paragraph" style="OLC">2008</header-in-text></quote>.</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="H6D371EEC1BE54139949E281F55C00D3"><enum>(b)</enum><header> Effective
date</header><text>The amendments made by this section shall apply to taxable
years beginning after December 31, 2007.</text>
</subsection></section><section display-inline="no-display-inline" id="H31808C50F0D041CCACF2EA2731CBB8" section-type="subsequent-section"><enum>102.</enum><header>Extension of
increased alternative minimum tax exemption amount</header>
<subsection id="HF61F3B9876424A85B5D9ADE858368D6C"><enum>(a)</enum><header>In
general</header><text>Paragraph (1) of section 55(d) (relating to exemption
amount) is amended—</text>
<paragraph id="HAF91B01B4DE6433EBDDE6CD6E82FEBC7"><enum>(1)</enum><text>by striking
<quote>($66,250 in the case of taxable years beginning in 2007)</quote> in
subparagraph (A) and inserting <quote>($69,950 in the case of taxable years
beginning in 2008)</quote>, and</text>
</paragraph><paragraph id="H5C96436946D04E84B9A074D1784DCEC9"><enum>(2)</enum><text>by striking
<quote>($44,350 in the case of taxable years beginning in 2007)</quote> in
subparagraph (B) and inserting <quote>($46,200 in the case of taxable years
beginning in 2008)</quote>.</text>
</paragraph></subsection><subsection id="H0D21C9D2E96A4E2F00E7FD74BFEAD2F6"><enum>(b)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to taxable
years beginning after December 31, 2007.</text>
</subsection></section><enum>II</enum><header>Individual tax
provisions</header>
<section commented="no" display-inline="no-display-inline" id="HB2FDAE35D5044852BC6056D5A46AF7B" section-type="subsequent-section"><enum>201.</enum><header>Deduction for State
and local sales taxes</header>
<subsection commented="no" id="H6384FC8E37794408B468F9AB11C56904"><enum>(a)</enum><header>In
general</header><text>Subparagraph (I) of section 164(b)(5) is amended by
striking <quote>January 1, 2008</quote> and inserting <quote>January 1,
2010</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="H6A642AB987A944DB90DBA4F73200002B"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to taxable
years beginning after December 31, 2007.</text>
</subsection></section><section display-inline="no-display-inline" id="H0911F6083497447BADAC09E0B98D67E8" section-type="subsequent-section"><enum>202.</enum><header>Deduction of
qualified tuition and related expenses</header>
<subsection id="H368783DD7DA3431393444914D220F212"><enum>(a)</enum><header>In
general</header><text>Subsection (e) of section 222 (relating to termination)
is amended by striking <quote>December 31, 2007</quote> and inserting
<quote>December 31, 2009</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="H2C328B0E0ABA43FB811DB19FDF3E023D"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to taxable
years beginning after December 31, 2007.</text>
</subsection></section><section id="H406032AA87AC43E6932DE34D0265E7CB"><enum>203.</enum><header>Deduction for
certain expenses of elementary and secondary school teachers</header>
<subsection id="HF5EEB86D797845D9A215450007B3CB46"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline">Subparagraph (D) of
section 62(a)(2) (relating to certain expenses of elementary and secondary
school teachers) is amended by striking <quote>or 2007</quote> and inserting
<quote>2007, 2008, or 2009</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="HBC8B0662C20F442982D3CAD00DDB64"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by subsection (a) shall apply to taxable
years beginning after December 31, 2007.</text>
</subsection></section><section display-inline="no-display-inline" id="HBE1ED2DFA39F4B72B75D702DCC851F82" section-type="subsequent-section"><enum>204.</enum><header>Tax-free
distributions from individual retirement plans for charitable purposes</header>
<subsection id="H043D149B7F98453BBE7D2EC237A200F0"><enum>(a)</enum><header>In
general</header><text>Subparagraph (F) of section 408(d)(8) (relating to
termination) is amended by striking <quote>December 31, 2007</quote> and
inserting <quote>December 31, 2009</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="HA3FD08413557463DB818980057E367BD"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to
distributions made in taxable years beginning after December 31, 2007.</text>
</subsection></section><section id="HE92E18ACDC924C128B2591CFFBAD3318"><enum>205.</enum><header>Treatment of
certain dividends of regulated investment companies</header>
<subsection id="H6571314F159F40F2AF74F07F9B99553B"><enum>(a)</enum><header>Interest-related
dividends</header><text>Subparagraph (C) of section 871(k)(1) (defining
interest-related dividend) is amended by striking <quote>December 31,
2007</quote> and inserting <quote>December 31, 2009</quote>.</text>
</subsection><subsection display-inline="no-display-inline" id="H37A2A5EE703D42430031C9048FD3EA06"><enum>(b)</enum><header>Short-term
capital gain dividends</header><text display-inline="yes-display-inline">Subparagraph (C) of section 871(k)(2)
(defining short-term capital gain dividend) is amended by striking
<quote>December 31, 2007</quote> and inserting <quote>December 31,
2009</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="HE71CC284151A4FF28F36E3AB773626F3"><enum>(c)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to dividends
with respect to taxable years of regulated investment companies beginning after
December 31, 2007.</text>
</subsection></section><section id="H6D2636AA9D994D53B0EDA94C39DF49CF"><enum>206.</enum><header>Stock in RIC
for purposes of determining estates of nonresidents not citizens</header>
<subsection id="HAFFAB50AD02340BD911C1300B87E27E4"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline">Paragraph (3) of
section 2105(d) (relating to stock in a RIC) is amended by striking
<quote>December 31, 2007</quote> and inserting <quote>December 31,
2009</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="H0F50791A1D2A4C9F964C247BB1B6BF16"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to decedents
dying after December 31, 2007.</text>
</subsection></section><section id="H5DF67FCF22544DBEB81983D8E36E778E"><enum>207.</enum><header>Qualified
investment entities</header>
<subsection id="H64506A0A8F7C46F58B814B68D82018A3"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline">Clause (ii) of
section 897(h)(4)(A) (relating to termination) is amended by striking
<quote>December 31, 2007</quote> and inserting <quote>December 31,
2009</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="H8104FBEAD0BD49C593C2C56C545E515D"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by subsection (a) shall take effect on
January 1, 2008.</text>
</subsection></section><enum>III</enum><header>Business tax
provisions</header>
<section id="id8C04D6A5F6E9420AADCF63FFB7DB465D"><enum>301.</enum><header>Extension and
modification of research credit</header>
<subsection id="id38E78F1C8EAB480FB0013A4738D39FC8"><enum>(a)</enum><header>Extension</header><text>Section
41(h) (relating to termination) is amended—</text>
<paragraph id="idBC5CB29BA9AC49E3A0335EA240F25BB6"><enum>(1)</enum><text>by striking
<quote>December 31, 2007</quote> and inserting <quote>December 31, 2009</quote>
in paragraph (1)(B),</text>
</paragraph><paragraph id="idDBFA1DA5B4FB4BC7B83D32C14514DB7A"><enum>(2)</enum><text>by redesignating
paragraph (2) as paragraph (3), and</text>
</paragraph><paragraph id="id385C9180FD1D40AAB31736AE83CE942B"><enum>(3)</enum><text>by inserting
after paragraph (1) the following new paragraph:</text>
<quoted-block act-name="" id="idCF380E917130436694F980323F92B0E4" style="OLC">
<paragraph id="id1CA0F87C8BD24C91A6CAC70DFBB7E2D3"><enum>(2)</enum><header>Termination of
alternative incremental credit</header><text>No election under subsection
(c)(4) shall apply to amounts paid or incurred after December 31,
2007.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection id="idDE56EF299B3A4B28A45D27692779FBEB"><enum>(b)</enum><header>Modification of
alternative simplified credit</header><text>Paragraph (5)(A) of section 41(c)
(relating to election of alternative simplified credit) is amended to read as
follows:</text>
<quoted-block act-name="" id="id7257ACE457E844E5BF806AF368FE90E1" style="OLC">
<subparagraph id="id4A7A2CF159134B1EBB62D30750F427FA"><enum>(A)</enum><header>In
general</header>
<clause id="idA2A607605F694DB2BC7B288ADD6E20B4"><enum>(i)</enum><header>Calculation of
credit</header><text>At the election of the taxpayer, the credit determined
under subsection (a)(1) shall be equal to the applicable percentage (as defined
in clause (ii)) of so much of the qualified research expenses for the taxable
year as exceeds 50 percent of the average qualified research expenses for the 3
taxable years preceding the taxable year for which the credit is being
determined.</text>
</clause><clause id="id1E6CB14902CF431EB5FF98CE035E3D26"><enum>(ii)</enum><header>Applicable
percentage</header><text>For purposes of the calculation under clause (i), the
applicable percentage is—</text>
<subclause id="id91751B099F5B48B68EBA4A055590A704"><enum>(I)</enum><text>14 percent, in
the case of taxable years ending before January 1, 2009, and</text>
</subclause><subclause id="id036B0C507B2E4033BE37CED7A86984E0"><enum>(II)</enum><text>16 percent, in
the case of taxable years beginning after December 31,
2008.</text>
</subclause></clause></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="id2B91CD12DB2547609D734BA065CA2596"><enum>(c)</enum><header>Conforming
amendment</header><text>Subparagraph (D) of section 45C(b)(1) (relating to
special rule) is amended by striking <quote>December 31, 2007</quote> and
inserting <quote>December 31, 2009</quote>.</text>
</subsection><subsection id="id6337FB5EF4A242D3AEE68D132D570697"><enum>(d)</enum><header>Technical
correction</header><text>Paragraph (3) of section 41(h) is amended to read as
follows:</text>
<quoted-block display-inline="no-display-inline" id="idEBE1917A42154C32AA57E6356DFA4387" style="OLC">
<paragraph id="idD57C8E4442DB4CAF8341E7681B084D45"><enum>(2)</enum><header>Computation for
taxable year in which credit terminates</header><text>In the case of any
taxable year with respect to which this section applies to a number of days
which is less than the total number of days in such taxable year—</text>
<subparagraph id="idFB379E2E73524D9A979BDFBDA48D8A18"><enum>(A)</enum><text>the amount
determined under subsection (c)(1)(B) with respect to such taxable year shall
be the amount which bears the same ratio to such amount (determined without
regard to this paragraph) as the number of days in such taxable year to which
this section applies bears to the total number of days in such taxable year,
and</text>
</subparagraph><subparagraph id="id359DE81CB98D458A9A7A562BD50127E9"><enum>(B)</enum><text>for purposes of
subsection (c)(5), the average qualified research expenses for the preceding 3
taxable years shall be the amount which bears the same ratio to such average
qualified research expenses (determined without regard to this paragraph) as
the number of days in such taxable year to which this section applies bears to
the total number of days in such taxable
year.</text>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="idE6545E2C2E7A456DBAF53B3F88874DBA"><enum>(e)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to amounts
paid or incurred after December 31, 2007.</text>
</subsection></section><section id="H760774BC72734740A85E010060018121"><enum>302.</enum><header>New markets tax
credit</header><text display-inline="no-display-inline">Subparagraph (D) of
section 45D(f)(1) (relating to national limitation on amount of investments
designated) is amended by striking <quote>and 2008</quote> and inserting
<quote>2008, and 2009</quote>.</text>
</section><section id="ID5679FBC3740C43D5B67BD5EFABE46C8A"><enum>303.</enum><header>Subpart
<enum-in-header>F</enum-in-header> exception for active financing
income</header>
<subsection id="ID84C8D4E15F1B4A209EC5D250BB81FF14"><enum>(a)</enum><header>Exempt
insurance income</header><text>Paragraph (10) of section 953(e) (relating to
application) is amended—</text>
<paragraph id="IDBCE102C0DCB245CDA57C8599F9050A55"><enum>(1)</enum><text>by striking
<quote>January 1, 2009</quote> and inserting <quote>January 1, 2010</quote>,
and</text>
</paragraph><paragraph id="ID8047712002AD4EB5B474421F7ADB2733"><enum>(2)</enum><text>by striking
<quote>December 31, 2008</quote> and inserting <quote>December 31,
2009</quote>.</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="ID582B3AF3290E4ED58F303195FF3BF392"><enum>(b)</enum><header>Exception to
treatment as foreign personal holding company income</header><text>Paragraph
(9) of section 954(h) (relating to application) is amended by striking
<quote>January 1, 2009</quote> and inserting <quote>January 1,
2010</quote>.</text>
</subsection></section><section id="ID43F6CC22F0FE44AB90CC69470A676BD8"><enum>304.</enum><header>Extension of
look-thru rule for related controlled foreign corporations</header>
<subsection id="IDF2B444DFE31840BFB18813E8020D7A90"><enum>(a)</enum><header>In
general</header><text>Subparagraph (B) of section 954(c)(6) (relating to
application) is amended by striking <quote>January 1, 2009</quote> and
inserting <quote>January 1, 2010</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="IDDFA43DA0A4CA49578DC3D82067F3D52E"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to taxable
years of foreign corporations beginning after December 31, 2007, and to taxable
years of United States shareholders with or within which such taxable years of
foreign corporations end.</text>
</subsection></section><section id="IDE7B4D27BF86C4B6593E65E6D422F0496"><enum>305.</enum><header>Extension of
15-year straight-line cost recovery for qualified leasehold improvements and
qualified restaurant improvements</header>
<subsection id="IDBE746848356E4AF3A97B6373A4309340"><enum>(a)</enum><header>In
general</header><text>Clauses (iv) and (v) of section 168(e)(3)(E) (relating to
15-year property) are each amended by striking <quote>January 1, 2008</quote>
and inserting <quote>January 1, 2010</quote>.</text>
</subsection><subsection id="IDCB131062A22945EDBD09958C6B247201"><enum>(b)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to property
placed in service after December 31, 2007.</text>
</subsection></section><section commented="no" id="H8E64E530DB4B4DC2A96B6F6DBE17CB06"><enum>306.</enum><header>Enhanced
charitable deduction for contributions of food inventory</header>
<subsection commented="no" id="HFFE3C000BB0746A5BB3F3DE3404AF7"><enum>(a)</enum><header>In
general</header><text>Clause (iv) of section 170(e)(3)(C) (relating to
termination) is amended by striking <quote>December 31, 2007</quote> and
inserting <quote>December 31, 2009</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="H6837DE957F334372BD51B2EBFE545C43"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to
contributions made after December 31, 2007.</text>
</subsection></section><section commented="no" display-inline="no-display-inline" id="id63DBF9B04F334B00AE5F4EC6B39B9FAF"><enum>307.</enum><header>Extension of
enhanced charitable deduction for contributions of book inventory</header>
<subsection commented="no" display-inline="no-display-inline" id="idE6443A8C015143C3BB335B0AEE2F51A5"><enum>(a)</enum><header>Extension</header><text>Clause
(iv) of section 170(e)(3)(D) (relating to termination) is amended by striking
<quote>December 31, 2007</quote> and inserting <quote>December 31,
2009</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="id3F37F734D0D04362B9ACD61F19674EFA"><enum>(b)</enum><header>Clerical
amendment</header><text>Clause (iii) of section 170(e)(3)(D) (relating to
certification by donee) is amended by inserting <quote>of books</quote> after
<quote>to any contribution</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="id3CAA481F14C4450493B21BE12FE210F4"><enum>(c)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to
contributions made after December 31, 2007.</text>
</subsection></section><section id="HC327A6861A0B41EF86E595C6F5047808"><enum>308.</enum><header>Modification of
tax treatment of certain payments to controlling exempt organizations</header>
<subsection id="H64C925302C9846479F17DB89EB395E16"><enum>(a)</enum><header>In
general</header><text>Clause (iv) of section 512(b)(13)(E) (relating to
termination) is amended by striking <quote>December 31, 2007</quote> and
inserting <quote>December 31, 2009</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="H0F5CA84F487C4A4DBF01AC98A6076140"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to payments
received or accrued after December 31, 2007.</text>
</subsection></section><section display-inline="no-display-inline" id="H192138D5F89C49E6B630D32E9900037E" section-type="subsequent-section"><enum>309.</enum><header>Basis adjustment to
stock of S corporations making charitable contributions of property</header>
<subsection id="H98037D14367D40DB838FBE8C6F5E6B9C"><enum>(a)</enum><header>In
general</header><text>The last sentence of section 1367(a)(2) (relating to
decreases in basis) is amended by striking <quote>December 31, 2007</quote> and
inserting <quote>December 31, 2009</quote>.</text>
</subsection><subsection id="HD726C94443224E01A7E8C4373591AE4C"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to
contributions made in taxable years beginning after December 31, 2007.</text>
</subsection></section><section id="HD360BDD1E3094BE08E67FBD8EA22E8D7"><enum>310.</enum><header>Increase in
limit on cover over of rum excise tax to Puerto Rico and the Virgin
Islands</header>
<subsection id="idA3E42E0B1FC84290A5958065FA9F7E2E"><enum>(a)</enum><header>In
general</header><text>Paragraph (1) of section 7652(f) is amended by striking
<quote>January 1, 2008</quote> and inserting <quote>January 1,
2010</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="id6353D4C81D4648149EEA766C7C20DA0F"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to distilled
spirits brought into the United States after December 31, 2007.</text>
</subsection></section><section id="H95EED196C3BB40E59CAC7D5E65FA788C"><enum>311.</enum><header>Extension of
economic development credit for American Samoa</header>
<subsection id="HD72B97E896114B98914481F315A69111"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline">Subsection (d) of
section 119 of division A of the Tax Relief and Health Care Act of 2006 is
amended—</text>
<paragraph id="H450099B466294B98A8E0D94F79DEEC8"><enum>(1)</enum><text>by
striking <quote>first two taxable years</quote> and inserting <quote>first 4
taxable years</quote>, and</text>
</paragraph><paragraph id="HC294B4BACE7C46C6AD6E8C02C869734B"><enum>(2)</enum><text>by striking
<quote>January 1, 2008</quote> and inserting <quote>January 1,
2010</quote>.</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="HF3ED8E784D594A4700D9A7021D03D431"><enum>(b)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to taxable
years beginning after December 31, 2007.</text>
</subsection></section><section display-inline="no-display-inline" id="id8FCAA6C6F7194634A682A4F913A18339"><enum>312.</enum><header>Extension of
mine rescue team training credit</header><text display-inline="no-display-inline">Section 45N(e) (relating to termination) is
amended by striking <quote>December 31, 2008</quote> and inserting
<quote>December 31, 2009</quote>.</text>
</section><section display-inline="no-display-inline" id="id9B46DCE38067457F985335119B46C052"><enum>313.</enum><header>Extension of
election to expense advanced mine safety equipment</header><text display-inline="no-display-inline">Section
179E(g) (relating to termination) is amended by striking <quote>December 31,
2008</quote> and inserting <quote>December 31, 2009</quote>.</text>
</section><section display-inline="no-display-inline" id="id67702DC1BEB24E7BB6AADD1ACBDBC885"><enum>314.</enum><header>Extension of
expensing rules for qualified film and television productions</header><text display-inline="no-display-inline">Section 181(f) (relating to termination) is
amended by striking <quote>December 31, 2008</quote> and inserting
<quote>December 31, 2009</quote>.</text>
</section><section id="H196DFA13D86C459AA893216D975B87F4"><enum>315.</enum><header>Deduction
allowable with respect to income attributable to domestic production activities
in Puerto Rico</header>
<subsection id="HE09C9686EF2C442EB14956002F43FCBA"><enum>(a)</enum><header>In
general</header><text>Subparagraph (C) of section 199(d)(8) (relating to
termination) is amended—</text>
<paragraph id="H50D41DBFCF594766B519FCA78DA26100"><enum>(1)</enum><text>by striking
<quote>first 2 taxable years</quote> and inserting <quote>first 4 taxable
years</quote>, and</text>
</paragraph><paragraph id="H55C685EBB5B1427091F12BDF969800AD"><enum>(2)</enum><text>by striking
<quote>January 1, 2008</quote> and inserting <quote>January 1,
2010</quote>.</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="H077806D4C0F34341A673DB7682B36B82"><enum>(b)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to taxable
years beginning after December 31, 2007.</text>
</subsection></section><section commented="no" display-inline="no-display-inline" id="id8891EB7526D84137A8475B5325923E4E"><enum>316.</enum><header>Extension of
qualified zone academy bonds</header>
<subsection commented="no" display-inline="no-display-inline" id="id7FAE9F09BB9C43CAA1AA6FC0E403F10D"><enum>(a)</enum><header>In
general</header><text>Paragraph (1) of section 1397E(e) is amended by striking
<quote>and 2007</quote> and inserting <quote>2007, 2008, and
2009</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="id62BA2EF92C8F420D8090F72811190210"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to
obligations issued after the date of the enactment of this Act.</text>
</subsection></section><section display-inline="no-display-inline" id="H12FD917F96A543E9BB365817C735F7B2" section-type="subsequent-section"><enum>317.</enum><header>Indian employment
credit</header>
<subsection id="H994638FE5C754634BC764CB115865760"><enum>(a)</enum><header>In
general</header><text>Subsection (f) of section 45A (relating to termination)
is amended by striking <quote>December 31, 2007</quote> and inserting
<quote>December 31, 2009</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="H568E60AD31CE4728B6FDD9342CF1B308"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to taxable
years beginning after December 31, 2007.</text>
</subsection></section><section id="HD8C3242227FB4F8B8F6CC20030D526B9"><enum>318.</enum><header>Accelerated
depreciation for business property on Indian reservation</header>
<subsection id="H87875697DC884C50853507FAF2B8317"><enum>(a)</enum><header>In
general</header><text>Paragraph (8) of section 168(j) (relating to termination)
is amended by striking <quote>December 31, 2007</quote> and inserting
<quote>December 31, 2009</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="H98DAA23691AA490EBF97F825963050D3"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to property
placed in service after December 31, 2007.</text>
</subsection></section><section id="H6D79774ABDC744C6A9D7EDB1059FB800"><enum>319.</enum><header>Railroad track
maintenance</header>
<subsection id="H3D96A57D6C9C47819DBEA44CE3B56B3F"><enum>(a)</enum><header>In
general</header><text>Subsection (f) of section 45G (relating to application of
section) is amended by striking <quote>January 1, 2008</quote> and inserting
<quote>January 1, 2010</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="id889CE89CD9444B31BBD760AD7B0EB2C6"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to
expenditures paid or incurred during taxable years beginning after December 31,
2007.</text>
</subsection></section><section id="H36151EC261674D1384679DC37E19BF42"><enum>320.</enum><header>Seven-year cost
recovery period for motorsports racing track facility</header>
<subsection id="HFEF5F94D2F47497F98191FCC9F4FA56C"><enum>(a)</enum><header>In
general</header><text>Subparagraph (D) of section 168(i)(15) (relating to
termination) is amended to read as follows:</text>
<quoted-block act-name="" id="id1D487ADADE334711B70E6943632726BB" style="OLC">
<subparagraph id="id56BE17E52B034FBFBD01D54F7EC01C01"><enum>(D)</enum><header>Application of
paragraph</header><text>Such term shall apply to property placed in service
after the date of the enactment of the <short-title>Alternative Minimum Tax and Extenders Tax Relief Act of
2008</short-title> and before January 1,
2010.</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection commented="no" display-inline="no-display-inline" id="HA6113B6DB1824AF4A386C4A6BF4600E6"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to property
placed in service after the date of the enactment of this Act.</text>
</subsection></section><section id="HEC76B72602774C84A753D2B2776F06F5"><enum>321.</enum><header>Expensing of
environmental remediation costs</header>
<subsection id="H0E9EEEC28B964C67994C473DD10100A9"><enum>(a)</enum><header>In
general</header><text>Subsection (h) of section 198 (relating to termination)
is amended by striking <quote>December 31, 2007</quote> and inserting
<quote>December 31, 2009</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="H99FAC0C4A8A446E087D99F8BCF8BD096"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to
expenditures paid or incurred after December 31, 2007.</text>
</subsection></section><section id="H5396173E31EC490BB1215B6096547B98" section-type="subsequent-section"><enum>322.</enum><header>Extension of work
opportunity tax credit for Hurricane Katrina employees</header>
<subsection id="H0E38404C73BF4802BDE5A2C700086511"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline">Paragraph (1) of
section 201(b) of the Katrina Emergency Tax Relief Act of 2005 is amended by
striking <quote>2-year</quote> and inserting <quote>4-year</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="H7357A9D0A4D641A3A2902E00BAA3A6D7"><enum>(b)</enum><header>Effective
date</header><text display-inline="yes-display-inline">The amendment made by
subsection (a) shall apply to individuals hired after August 27, 2007.</text>
</subsection></section><enum>IV</enum><header>Extension of
clean energy production incentives</header>
<section id="idA0A87186B8944FA7BD50588B609F992B"><enum>401.</enum><header>Extension and
modification of renewable energy production tax credit</header>
<subsection id="HDB1BC1D5F4534B9890CD5FB3FDC5B4CD"><enum>(a)</enum><header>Extension of
credit</header><text display-inline="yes-display-inline">Each of the following
provisions of section 45(d) (relating to qualified facilities) is amended by
striking <quote>January 1, 2009</quote> and inserting <quote>January 1,
2010</quote>:</text>
<paragraph id="HA1FC21D2E50D4776B6043BC132CEDEDE"><enum>(1)</enum><text>Paragraph
(1).</text>
</paragraph><paragraph id="H015765F39531443E8F024EA5476C5731"><enum>(2)</enum><text>Clauses (i) and
(ii) of paragraph (2)(A).</text>
</paragraph><paragraph id="H52BE85C8411C4D21BEC774160258C411"><enum>(3)</enum><text>Clauses (i)(I) and
(ii) of paragraph (3)(A).</text>
</paragraph><paragraph id="H466046178D79455C83BBFB931C159D00"><enum>(4)</enum><text>Paragraph
(4).</text>
</paragraph><paragraph id="H71840C7A533F4262AF0432FF54845B13"><enum>(5)</enum><text>Paragraph
(5).</text>
</paragraph><paragraph id="H515AE74519C746B690762BCB6D4EC832"><enum>(6)</enum><text>Paragraph
(6).</text>
</paragraph><paragraph id="HF59AB525B86649769DAFD8B74A2AEC2"><enum>(7)</enum><text>Paragraph
(7).</text>
</paragraph><paragraph id="id71625B13BB904AFB95F53DE3D2ADEDA1"><enum>(8)</enum><text>Paragraph
(8).</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="HAF5CB72DBAE945B300354C20E05F416C"><enum>(9)</enum><text>Subparagraphs (A)
and (B) of paragraph (9).</text>
</paragraph></subsection><subsection display-inline="no-display-inline" id="HB4CF1AB00EF74640BB83F48EA4A58819"><enum>(b)</enum><header>Production
credit for electricity produced from marine renewables</header>
<paragraph id="H8AEEA1860DF5466AA3F1F4B0D7D531BC"><enum>(1)</enum><header>In
general</header><text>Paragraph (1) of section 45(c) (relating to resources) is
amended by striking <quote>and</quote> at the end of subparagraph (G), by
striking the period at the end of subparagraph (H) and inserting <quote>,
and</quote>, and by adding at the end the following new subparagraph:</text>
<quoted-block display-inline="no-display-inline" id="HF2AFB43401744260AD51E1C2AC3FD7DE" style="OLC">
<subparagraph id="HF5160F52F39A4CADBF00CC79BC26FD5E"><enum>(I)</enum><text display-inline="yes-display-inline">marine and hydrokinetic renewable
energy.</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph commented="no" id="H449C1D2BFA274191BB88B17F00A88806"><enum>(2)</enum><header>Marine
renewables</header><text>Subsection (c) of section 45 is amended by adding at
the end the following new paragraph:</text>
<quoted-block display-inline="no-display-inline" id="HFA888FAEE6E2431E9D115B05E206F923" style="OLC">
<paragraph commented="no" id="HC54771A1613C4BCCA3EEAAB7CE6C421F"><enum>(10)</enum><header>Marine and
hydrokinetic renewable energy</header>
<subparagraph id="HD8F37DB75C58437A8479E4D059D64FFF"><enum>(A)</enum><header>In
general</header><text>The term <term>marine and hydrokinetic renewable
energy</term> means energy derived from—</text>
<clause display-inline="no-display-inline" id="H382B3B55DF274E0990245BE19BEE16E3"><enum>(i)</enum><text>waves, tides, and
currents in oceans, estuaries, and tidal areas,</text>
</clause><clause id="HE68273A2B925406C9427F3617EB7D7AF"><enum>(ii)</enum><text>free flowing
water in rivers, lakes, and streams,</text>
</clause><clause id="HBFF801616BB14908AF672DF770488EDF"><enum>(iii)</enum><text>free flowing
water in an irrigation system, canal, or other man-made channel, including
projects that utilize nonmechanical structures to accelerate the flow of water
for electric power production purposes, or</text>
</clause><clause id="HA507A7A724994D3A8424E2E4D7008F6D"><enum>(iv)</enum><text>differentials in
ocean temperature (ocean thermal energy conversion).</text>
</clause></subparagraph><subparagraph id="H77F25B87527F45EB9035BBADC345DF54"><enum>(B)</enum><header>Exceptions</header><text display-inline="yes-display-inline">Such term shall not include any energy
which is derived from any source which utilizes a dam, diversionary structure
(except as provided in subparagraph (A)(iii)), or impoundment for electric
power production
purposes.</text>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="HFA40CC241F814F48ABD302B7CCA3595D"><enum>(3)</enum><header>Definition of
facility</header><text>Subsection (d) of section 45 is amended by adding at the
end the following new paragraph:</text>
<quoted-block display-inline="no-display-inline" id="HF82181A480AC4662A531194093FCC26E" style="OLC">
<paragraph id="HBB99C60D83904DB49D6B78003E03F848"><enum>(11)</enum><header>Marine and
hydrokinetic renewable energy facilities</header><text display-inline="yes-display-inline">In the case of a facility producing
electricity from marine and hydrokinetic renewable energy, the term
<term>qualified facility</term> means any facility owned by the
taxpayer—</text>
<subparagraph id="HB3A46509FB9E4A06BC5CC516EBAE87A0"><enum>(A)</enum><text display-inline="yes-display-inline">which has a nameplate capacity rating of at
least 150 kilowatts, and</text>
</subparagraph><subparagraph id="HC805938B69A2485F89375B430784DBE9"><enum>(B)</enum><text>which is
originally placed in service on or after the date of the enactment of this
paragraph and before January 1,
2010.</text>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="H99580472C5BA4180A7CA9C969D6D81C8"><enum>(4)</enum><header>Credit
rate</header><text>Subparagraph (A) of section 45(b)(4) is amended by striking
<quote>or (9)</quote> and inserting <quote>(9), or (11)</quote>.</text>
</paragraph><paragraph commented="no" id="HEB22692156AA4721ACBD828B429F55DA"><enum>(5)</enum><header>Coordination
with small irrigation power</header><text>Paragraph (5) of section 45(d), as
amended by subsection (a), is amended by striking <quote>January 1,
2010</quote> and inserting <quote>the date of the enactment of paragraph
(11)</quote>.</text>
</paragraph></subsection><subsection commented="no" id="id427610985F52483D8E39E3B6DFD8D226"><enum>(c)</enum><header>Sales of
electricity to regulated public utilities treated as sales to unrelated
persons</header><text>Section 45(e)(4) (relating to related persons) is amended
by adding at the end the following new sentence: <quote>A taxpayer shall be
treated as selling electricity to an unrelated person if such electricity is
sold to a regulated public utility (as defined in section
7701(a)(33).</quote>.</text>
</subsection><subsection id="id9F1D1DBD54EE431080B7F0839B685A0F"><enum>(d)</enum><header>Trash facility
clarification</header><text>Paragraph (7) of section 45(d) is amended—</text>
<paragraph id="idAD0F1641F3364981A858B1DC391273C0"><enum>(1)</enum><text>by striking
<quote>facility which burns</quote> and inserting <quote>facility (other than a
facility described in paragraph (6)) which uses</quote>, and</text>
</paragraph><paragraph id="idA07CDF07C332418799FCCCDCAAA36A79"><enum>(2)</enum><text>by striking
<quote><header-in-text level="paragraph" style="OLC">combustion</header-in-text></quote>.</text>
</paragraph></subsection><subsection id="HF97129AE391C4E65B5471F9418D1F31"><enum>(e)</enum><header>Effective
dates</header>
<paragraph commented="no" display-inline="no-display-inline" id="HF7A3B656489F47E196F22B369BB8669B"><enum>(1)</enum><header>Extension</header><text>The
amendments made by subsection (a) shall apply to property originally placed in
service after December 31, 2008.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="H9025090DB7A440CCAFDB464C01B8B5B"><enum>(2)</enum><header>Modifications</header><text>The
amendments made by subsections (b) and (c) shall apply to electricity produced
and sold after the date of the enactment of this Act, in taxable years ending
after such date.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="idE35CCBE0B4BB4B82A3F8F90CDB5CE358"><enum>(3)</enum><header>Trash facility
clarification</header><text>The amendments made by subsection (d) shall apply
to electricity produced and sold before, on, or after December 31, 2007.</text>
</paragraph></subsection></section><section id="H269D698EF0B743C7BD54C7C7DCCFC00"><enum>402.</enum><header>Extension and
modification of solar energy and fuel cell investment tax credit</header>
<subsection id="HD6B8692F800C4C708C38B801D5AE4361"><enum>(a)</enum><header>Extension of
credit</header>
<paragraph id="H33F3142BDA5F4EA689588533EAAE1578"><enum>(1)</enum><header>Solar energy
property</header><text>Paragraphs (2)(A)(i)(II) and (3)(A)(ii) of section 48(a)
(relating to energy credit) are each amended by striking <quote>January 1,
2009</quote> and inserting <quote>January 1, 2017</quote>.</text>
</paragraph><paragraph id="HCB3E6DE160864A639151807EB9DD0695"><enum>(2)</enum><header>Fuel cell
property</header><text>Subparagraph (E) of section 48(c)(1) (relating to
qualified fuel cell property) is amended by striking <quote>December 31,
2008</quote> and inserting <quote>December 31, 2016</quote>.</text>
</paragraph><paragraph id="id9FD741F7B6C04104BB85BAF5005CA1DA"><enum>(3)</enum><header>Qualified
microturbine property</header><text>Subparagraph (E) of section 48(c)(2)
(relating to qualified microturbine property) is amended by striking
<quote>December 31, 2008</quote> and inserting <quote>December 31,
2016</quote>.</text>
</paragraph></subsection><subsection id="HCD906D8944D94AE6B3C99141FF1269E8"><enum>(b)</enum><header>Allowance of
energy credit against alternative minimum tax</header><text>Subparagraph (B) of
section 38(c)(4) (relating to specified credits) is amended by striking
<quote>and</quote> at the end of clause (iii), by striking the period at the
end of clause (iv) and inserting <quote>, and</quote>, and by adding at the end
the following new clause:</text>
<quoted-block display-inline="no-display-inline" id="HAAE8DC24A64948CCB036BACC8F5CEC75" style="OLC">
<clause id="HDC98AA51221A4453973C60DE21E3A3C0"><enum>(v)</enum><text>the credit
determined under section 46 to the extent that such credit is attributable to
the energy credit determined under section
48.</text>
</clause><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection commented="no" display-inline="no-display-inline" id="id22128F02BA2F4152B0F05F6F255F2689"><enum>(c)</enum><header>Repeal of
dollar per kilowatt limitation for fuel cell property</header>
<paragraph commented="no" display-inline="no-display-inline" id="id9BA819B28A4F479397FFB3A8F22D8F52"><enum>(1)</enum><header>In
general</header><text>Section 48(c)(1) (relating to qualified fuel cell), as
amended by subsection (a)(2), is amended by striking subparagraph (B) and by
redesignating subparagraphs (C), (D), and (E) as subparagraphs (B), (C), and
(D), respectively.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="id29C917EF3A854176AE38E7464FFC0466"><enum>(2)</enum><header>Conforming
amendment</header><text>Section 48(a)(1) is amended by striking
<quote>paragraphs (1)(B) and (2)(B) of subsection (c)</quote> and inserting
<quote>subsection (c)(2)(B)</quote>.</text>
</paragraph></subsection><subsection id="H13585CAF81954D18BD470154A7AB2201"><enum>(d)</enum><header>Public electric
utility property taken into account</header>
<paragraph id="HEB072CE0D1814CC9A700F4129200852B"><enum>(1)</enum><header>In
general</header><text>Paragraph (3) of section 48(a) is amended by striking the
second sentence thereof.</text>
</paragraph><paragraph id="H0DB5E2619C07434889807E82929FC3EF"><enum>(2)</enum><header>Conforming
amendments</header>
<subparagraph id="H0FB44F1F632D4943905CD1B5BA827838"><enum>(A)</enum><text>Paragraph (1) of
section 48(c), as amended by this section, is amended by striking subparagraph
(C) and redesignating subparagraph (D) as subparagraph (C).</text>
</subparagraph><subparagraph id="H9EB51D36616E4024B8222FD60507A7E7"><enum>(B)</enum><text display-inline="yes-display-inline">Paragraph (2) of section 48(c), as amended
by subsection (a)(3), is amended by striking subparagraph (D) and redesignating
subparagraph (E) as subparagraph (D).</text>
</subparagraph></paragraph></subsection><subsection id="HE42B21EED3C646A5946C4D2B1843A47D"><enum>(e)</enum><header>Effective
dates</header>
<paragraph id="H398926E157C148FFBC20A1B65851CE25"><enum>(1)</enum><header>Extension</header><text>The
amendments made by subsection (a) shall take effect on the date of the
enactment of this Act.</text>
</paragraph><paragraph id="HBEA92A36FE9246939BC8E6B200782D9D"><enum>(2)</enum><header>Allowance
against alternative minimum tax</header><text>The amendments made by subsection
(b) shall apply to credits determined under section 46 of the Internal Revenue
Code of 1986 in taxable years beginning after the date of the enactment of this
Act and to carrybacks of such credits.</text>
</paragraph><paragraph id="HB6951B00373E40238EA688BCB084E3B3"><enum>(3)</enum><header>Fuel cell
property and public electric utility property</header><text>The amendments made
by subsections (c) and (d) shall apply to periods after the date of the
enactment of this Act, in taxable years ending after such date, under rules
similar to the rules of
<external-xref legal-doc="usc" parsable-cite="usc/26/48">section
48(m)</external-xref> of the Internal Revenue Code of 1986 (as in effect on the
day before the date of the enactment of the Revenue Reconciliation Act of
1990).</text>
</paragraph></subsection></section><section display-inline="no-display-inline" id="HA1D364429CB54725A4DCB445B2E32D46" section-type="subsequent-section"><enum>403.</enum><header>Extension and
modification of residential energy efficient property credit</header>
<subsection id="H9349EB077AA74E2F952F418DFCE80004"><enum>(a)</enum><header>Extension</header><text>Section
25D(g) (relating to termination) is amended by striking <quote>December 31,
2008</quote> and inserting <quote>December 31, 2009</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="HE46345B52DFF471495F4DDD33ED42F8"><enum>(b)</enum><header>No dollar
limitation for credit for solar electric property</header>
<paragraph commented="no" display-inline="no-display-inline" id="H938D47C10FEB43F5B3C6D268D4B321AF"><enum>(1)</enum><header>In
general</header><text>Section 25D(b)(1) (relating to maximum credit) is amended
by striking subparagraph (A) and by redesignating subparagraphs (B) and (C) as
subparagraphs (A) and (B), respectively.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="HA3510519FB1D46FBB2CBF3756CC6277"><enum>(2)</enum><header>Conforming
amendments</header><text>Section 25D(e)(4) is amended—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="id3BB57B7559424634B0E1A453871AA1DE"><enum>(A)</enum><text>by striking
clause (i) in subparagraph (A),</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="idFBAD54EB5E6F45A38202461A124147CF"><enum>(B)</enum><text>by redesignating
clauses (ii) and (iii) in subparagraph (A) as clauses (i) and (ii),
respectively, and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="id51B7F40FCA15456F8B784F6C7AD04737"><enum>(C)</enum><text>by striking
<quote>, (2),</quote> in subparagraph (C).</text>
</subparagraph></paragraph></subsection><subsection commented="no" id="H5304447515B54A94979063AB66B00B2"><enum>(c)</enum><header>Credit allowed
against alternative minimum tax</header>
<paragraph commented="no" id="H53C0979DA9A7412291AAF275F98C1E44"><enum>(1)</enum><header>In
general</header><text>Subsection (c) of section 25D is amended to read as
follows:</text>
<quoted-block display-inline="no-display-inline" id="H992F54FA14B645E281E0FAFCE5D12B2" style="OLC">
<subsection commented="no" id="HA653FA503321480EBD4C5445D5C2141F"><enum>(c)</enum><header>Limitation based
on amount of tax; carryforward of unused credit</header>
<paragraph commented="no" id="H26D00907A7BB4778BE2769883EEC87C8"><enum>(1)</enum><header>Limitation based
on amount of tax</header><text>In the case of a taxable year to which section
26(a)(2) does not apply, the credit allowed under subsection (a) for the
taxable year shall not exceed the excess of—</text>
<subparagraph commented="no" id="H3EDA6A04899B468D976736ED0377AABB"><enum>(A)</enum><text>the sum of the
regular tax liability (as defined in section 26(b)) plus the tax imposed by
section 55, over</text>
</subparagraph><subparagraph commented="no" id="HEFEC12897D2B41EA9FEDF79583E0FAE7"><enum>(B)</enum><text>the sum of the
credits allowable under this subpart (other than this section) and section 27
for the taxable year.</text>
</subparagraph></paragraph><paragraph commented="no" id="H607683F7FFE446AF8629B93A8EE795E"><enum>(2)</enum><header>Carryforward of
unused credit</header>
<subparagraph commented="no" id="H525736544BE0433EB015FD3F8F2DA2E1"><enum>(A)</enum><header>Rule for years
in which all personal credits allowed against regular and alternative minimum
tax</header><text display-inline="yes-display-inline">In the case of a taxable
year to which section 26(a)(2) applies, if the credit allowable under
subsection (a) exceeds the limitation imposed by section 26(a)(2) for such
taxable year reduced by the sum of the credits allowable under this subpart
(other than this section), such excess shall be carried to the succeeding
taxable year and added to the credit allowable under subsection (a) for such
succeeding taxable year.</text>
</subparagraph><subparagraph commented="no" id="HB1FF32EA728B48DBADA6ECFC38BFC33C"><enum>(B)</enum><header>Rule for other
years</header><text>In the case of a taxable year to which section 26(a)(2)
does not apply, if the credit allowable under subsection (a) exceeds the
limitation imposed by paragraph (1) for such taxable year, such excess shall be
carried to the succeeding taxable year and added to the credit allowable under
subsection (a) for such succeeding taxable
year.</text>
</subparagraph></paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph commented="no" id="H7C7892F923184FFBA825E3EBE484F4E7"><enum>(2)</enum><header>Conforming
amendments</header>
<subparagraph commented="no" id="HD6DFAD2A82C74CB48424BCE2F3CBB4E7"><enum>(A)</enum><text>Section
23(b)(4)(B) is amended by inserting <quote>and section 25D</quote> after
<quote>this section</quote>.</text>
</subparagraph><subparagraph commented="no" id="HEDF21F2BCA264911913B8D7051F9F267"><enum>(B)</enum><text>Section
24(b)(3)(B) is amended by striking <quote>and 25B</quote> and inserting
<quote>, 25B, and 25D</quote>.</text>
</subparagraph><subparagraph commented="no" id="H53CCB9C433474BD49196972D2CDEE169"><enum>(C)</enum><text>Section 25B(g)(2)
is amended by striking <quote>section 23</quote> and inserting <quote>sections
23 and 25D</quote>.</text>
</subparagraph><subparagraph commented="no" id="HCEB5E0974B6D467CB8B4E8F94C021CB"><enum>(D)</enum><text>Section 26(a)(1) is
amended by striking <quote>and 25B</quote> and inserting <quote>25B, and
25D</quote>.</text>
</subparagraph></paragraph></subsection><subsection id="HC398765C0E594A88892DD06841BFE324"><enum>(d)</enum><header>Effective
date</header>
<paragraph id="H0FDACA8C21B74CA7B0220016D370ED2B"><enum>(1)</enum><header>In
general</header><text>The amendments made by this section shall apply to
taxable years beginning after December 31, 2007.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="H30C36D1486184C00A3ED76D8EDB42D29"><enum>(2)</enum><header>Application of
EGTRRA sunset</header><text>The amendments made by subparagraphs (A) and (B) of
subsection (c)(2) shall be subject to title IX of the Economic Growth and Tax
Relief Reconciliation Act of 2001 in the same manner as the provisions of such
Act to which such amendments relate.</text>
</paragraph></subsection></section><section id="id897E40DD26E34F419809BC91D602E513"><enum>404.</enum><header>Extension and
modification of credit for clean renewable energy bonds</header>
<subsection id="idC80BC8CD573844BBAC4FAEEB4F84D28D"><enum>(a)</enum><header>Extension</header><text>Section
54(m) (relating to termination) is amended by striking <quote>December 31,
2008</quote> and inserting <quote>December 31, 2009</quote>.</text>
</subsection><subsection id="id2F1A66D4AF0249B7AF392AA48E9F46E5"><enum>(b)</enum><header>Increase in
national limitation</header><text>Section 54(f) (relating to limitation on
amount of bonds designated) is amended—</text>
<paragraph id="idA0967D3089294989909117A745AE5A32"><enum>(1)</enum><text>by inserting
<quote>, and for the period beginning after the date of the enactment of the
<short-title>Clean Energy Tax Stimulus Act of 2008
</short-title> and ending before January 1, 2010, $400,000,000</quote> after
<quote>$1,200,000,000</quote> in paragraph (1),</text>
</paragraph><paragraph id="id2FEFF51A2DB04A43B6C48193BAFEE51C"><enum>(2)</enum><text>by striking
<quote>$750,000,000 of the</quote> in paragraph (2) and inserting
<quote>$750,000,000 of the $1,200,000,000</quote>, and</text>
</paragraph><paragraph id="id5D0EBB0EAC41479A8D09EA8310246F35"><enum>(3)</enum><text>by striking
<quote>bodies</quote> in paragraph (2) and inserting <quote>bodies, and except
that the Secretary may not allocate more than <fraction>1/3</fraction> of the
$400,000,000 national clean renewable energy bond limitation to finance
qualified projects of qualified borrowers which are public power providers nor
more than <fraction>1/3</fraction> of such limitation to finance qualified
projects of qualified borrowers which are mutual or cooperative electric
companies described in section 501(c)(12) or section
1381(a)(2)(C)</quote>.</text>
</paragraph></subsection><subsection id="idCBCDDCB08F914D03AFF188D972C030D7"><enum>(c)</enum><header>Public power
providers defined</header><text>Section 54(j) is amended—</text>
<paragraph id="idA4FAD517C3694EECB0FB37830558E0A4"><enum>(1)</enum><text>by adding at the
end the following new paragraph:</text>
<quoted-block display-inline="no-display-inline" id="id507F8C27738E4CF4B94864664BB4A2CC" style="OLC">
<paragraph id="HE61501BFE2C348C5BACADEE973FA160"><enum>(6)</enum><header>Public power
provider</header><text display-inline="yes-display-inline">The term
<term>public power provider</term> means a State utility with a service
obligation, as such terms are defined in section 217 of the Federal Power Act
(as in effect on the date of the enactment of this
paragraph).</text>
</paragraph><after-quoted-block>,
and</after-quoted-block></quoted-block>
</paragraph><paragraph id="id6C3482E804684ABBA67531AF000253DF"><enum>(2)</enum><text>by inserting
<quote><header-in-text level="subsection" style="OLC">; public power
provider</header-in-text></quote> before the period at the end of the
heading.</text>
</paragraph></subsection><subsection id="idE819398EB23D4316912EB47071E66AAD"><enum>(d)</enum><header>Technical
amendment</header><text>The third sentence of section 54(e)(2) is amended by
striking <quote>subsection (l)(6)</quote> and inserting <quote>subsection
(l)(5)</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="id61A42F8789904B319F3649BC047540C8"><enum>(e)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to bonds
issued after the date of the enactment of this Act.</text>
</subsection></section><section commented="no" display-inline="no-display-inline" id="id844FC0C189CF4BCC8FF889F6384D0951"><enum>405.</enum><header>Extension of
special rule to implement FERC restructuring policy</header>
<subsection commented="no" display-inline="no-display-inline" id="idC32C64822FBD42478E623B8FB58474C6"><enum>(a)</enum><header>Qualifying
electric transmission transaction</header>
<paragraph commented="no" display-inline="no-display-inline" id="id9D371D9F8FFD472BA93528A8A4B8CC0D"><enum>(1)</enum><header>In
general</header><text display-inline="yes-display-inline">Section 451(i)(3)
(defining qualifying electric transmission transaction) is amended by striking
<quote>January 1, 2008</quote> and inserting <quote>January 1,
2010</quote>.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="id30F012BCE448459E97B47AC0DB7714A6"><enum>(2)</enum><header>Effective
date</header><text>The amendment made by this subsection shall apply to
transactions after December 31, 2007.</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="idC74A4F48430641829076307CD7DA1990"><enum>(b)</enum><header>Independent
transmission company</header>
<paragraph commented="no" display-inline="no-display-inline" id="id29B694C420CB481D90E7CC5E331BF19E"><enum>(1)</enum><header>In
general</header><text>Section 451(i)(4)(B)(ii) (defining independent
transmission company) is amended by striking <quote>December 31, 2007</quote>
and inserting <quote>the date which is 2 years after the date of such
transaction</quote>.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="id64D214742E0F49A3A7D90A130F1685FE"><enum>(2)</enum><header>Effective
date</header><text>The amendment made by this subsection shall take effect as
if included in the amendments made by section 909 of the American Jobs Creation
Act of 2004.</text>
</paragraph></subsection></section><enum>V</enum><header>Extension of
incentives to improve energy efficiency</header>
<section display-inline="no-display-inline" id="H4E4E73F0AC694ACFB033902D6B2B9D00" section-type="subsequent-section"><enum>501.</enum><header>Extension and
modification of credit for energy efficiency improvements to existing
homes</header>
<subsection commented="no" id="HE1311AF729B443509923399000941F78"><enum>(a)</enum><header>Extension of
credit</header><text display-inline="yes-display-inline">Section 25C(g)
(relating to termination) is amended by striking <quote>December 31,
2007</quote> and inserting <quote>December 31, 2009</quote>.</text>
</subsection><subsection id="HCCD43C36D3924ACCB3C733A06316F351"><enum>(b)</enum><header>Qualified
biomass fuel property</header>
<paragraph id="H8411EFDEE2B64C13A622B4D6474B0205"><enum>(1)</enum><header>In
general</header><text>Section 25C(d)(3) is amended—</text>
<subparagraph id="H8A719566C3F24D3CB51C5E3C8875F1F0"><enum>(A)</enum><text>by striking
<quote>and</quote> at the end of subparagraph (D),</text>
</subparagraph><subparagraph id="H7E636F6DFDD443F3A4854FA3DD897470"><enum>(B)</enum><text>by striking the
period at the end of subparagraph (E) and inserting <quote>, and</quote>,
and</text>
</subparagraph><subparagraph id="H38D94E65D3FF485EA514EB6314520095"><enum>(C)</enum><text>by adding at the
end the following new subparagraph:</text>
<quoted-block act-name="" id="HD259A568896E47AEB6E031BAF3A20013" style="OLC">
<subparagraph id="HE89CE77FF7E24398A5D63955A772CCFC"><enum>(F)</enum><text>a stove which uses
the burning of biomass fuel to heat a dwelling unit located in the United
States and used as a residence by the taxpayer, or to heat water for use in
such a dwelling unit, and which has a thermal efficiency rating of at least 75
percent.</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subparagraph></paragraph><paragraph id="HBCEA0C4751B94391A3C9E5B95CF2CE7"><enum>(2)</enum><header>Biomass
fuel</header><text>Section 25C(d) (relating to residential energy property
expenditures) is amended by adding at the end the following new
paragraph:</text>
<quoted-block act-name="" id="HCE430B59D2084920A3A900807B8CFDDF" style="OLC">
<paragraph id="HBB58614A2CE849DB917D9ED6C8AAA549"><enum>(6)</enum><header>Biomass
fuel</header><text>The term <term>biomass fuel</term> means any plant-derived
fuel available on a renewable or recurring basis, including agricultural crops
and trees, wood and wood waste and residues (including wood pellets), plants
(including aquatic plants), grasses, residues, and
fibers.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection id="id36693B2E816E46F18FF93BD6A09501E2"><enum>(c)</enum><header>Modifications
of standards for energy-efficient building property</header>
<paragraph id="id59117E46EE894ED3A93B8D680C16AED0"><enum>(1)</enum><header>Electric heat
pumps</header><text>Subparagraph (B) of section 25C(d)(3) is amended to read as
follows:</text>
<quoted-block display-inline="no-display-inline" id="id544CE208014042369B3376285D32D422" style="OLC">
<subparagraph id="idA2D4D89188594254886EEAD088CD45CD"><enum>(A)</enum><text>an electric heat
pump which achieves the highest efficiency tier established by the Consortium
for Energy Efficiency, as in effect on January 1,
2008.</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="id64A4368ACD8C4538B76AEA1B1E2C696B"><enum>(2)</enum><header>Central air
conditioners</header><text>Section 25C(d)(3)(D) is amended by striking
<quote>2006</quote> and inserting <quote>2008</quote>.</text>
</paragraph><paragraph id="id96A91A27AC37420DA676CE53222DFB4E"><enum>(3)</enum><header>Water
Heaters</header><text>Subparagraph (E) of section 25C(d) is amended to read as
follows:</text>
<quoted-block display-inline="no-display-inline" id="id24AD95E040B84F28A28B552401F71A30" style="OLC">
<subparagraph id="id21A8C092955245ED95FB53FA2E9ED100"><enum>(E)</enum><text>a natural gas,
propane, or oil water heater which has either an energy factor of at least 0.80
or a thermal efficiency of at least 90
percent.</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="idDD919FE3E2964246A168C6BFB825E30C"><enum>(4)</enum><header>Oil furnaces
and hot water boilers</header><text>Paragraph (4) of section 25C(d) is amended
to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="id34E72E892DED4780BEBBEBD16C12C395" style="OLC">
<paragraph id="id8BC9B1311D8746339EB582584D6A1C5C"><enum>(4)</enum><header>Qualified
natural gas, propane, and oil furnaces and hot water boilers</header>
<subparagraph id="id2902454B444C4E109A6BA2C4D1433213"><enum>(A)</enum><header>Qualified
natural gas furnace</header><text>The term <term>qualified natural gas
furnace</term> means any natural gas furnace which achieves an annual fuel
utilization efficiency rate of not less than 95.</text>
</subparagraph><subparagraph id="id8283C147023249659A4F27037EA01332"><enum>(B)</enum><header>Qualified
natural gas hot water boiler</header><text>The term <term>qualified natural gas
hot water boiler</term> means any natural gas hot water boiler which achieves
an annual fuel utilization efficiency rate of not less than 90.</text>
</subparagraph><subparagraph id="idC140B36EE62D44638B4BEA50F1E9FAE6"><enum>(C)</enum><header>Qualified
propane furnace</header><text>The term <term>qualified propane furnace</term>
means any propane furnace which achieves an annual fuel utilization efficiency
rate of not less than 95.</text>
</subparagraph><subparagraph id="id5F760AC7ABC14D2D86B78F7781B42DE4"><enum>(D)</enum><header>Qualified
propane hot water boiler</header><text>The term <term>qualified propane hot
water boiler</term> means any propane hot water boiler which achieves an annual
fuel utilization efficiency rate of not less than 90.</text>
</subparagraph><subparagraph id="id371EC18D14464A4C84793C0D544454D3"><enum>(E)</enum><header>Qualified oil
furnaces</header><text>The term <term>qualified oil furnace</term> means any
oil furnace which achieves an annual fuel utilization efficiency rate of not
less than 90.</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="id4CA127DA857541C0B6F76B011FC7EB72"><enum>(F)</enum><header>Qualified oil
hot water boiler</header><text>The term <term>qualified oil hot water
boiler</term> means any oil hot water boiler which achieves an annual fuel
utilization efficiency rate of not less than
90.</text>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="H5FCD82BD62324C6E9BB96F8F6F07F9E6"><enum>(d)</enum><header>Effective
date</header><text>The amendments made this section shall apply to expenditures
made after December 31, 2007.</text>
</subsection></section><section commented="no" id="id939B5E3353194403A0AB36F1B2B5950B"><enum>502.</enum><header>Extension and
modification of tax credit for energy efficient new homes</header>
<subsection commented="no" id="id00001A7EA14A4399B3D865B1B2C03851"><enum>(a)</enum><header>Extension of
credit</header><text display-inline="yes-display-inline">Subsection (g) of
section 45L (relating to termination) is amended by striking <quote>December
31, 2008</quote> and inserting <quote>December 31, 2010</quote>.</text>
</subsection><subsection id="id54723ACF06DE4FA689B8EC8117EA5F5F"><enum>(b)</enum><header>Allowance for
contractor's personal residence</header><text>Subparagraph (B) of section
45L(a)(1) is amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="idF3A856C58ED047C189F92545542D73F2" style="OLC">
<subparagraph id="id73613528F4224F87B3D30BAD28D205DA"><enum>(B)</enum><clause commented="no" display-inline="yes-display-inline" id="idE938313191744063816592E2EE4D7297"><enum>(i)</enum><text>acquired by a person
from such eligible contractor and used by any person as a residence during the
taxable year, or</text>
</clause><clause id="id38270ACD2F3A4E0784ABA6AD36995CE3" indent="up1"><enum>(ii)</enum><text>used by such eligible contractor
as a residence during the taxable
year.</text>
</clause></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection commented="no" display-inline="no-display-inline" id="id4F4D815D24DC413D880CF69E85C64E2A"><enum>(c)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to homes
acquired after December 31, 2008.</text>
</subsection></section><section commented="no" id="idAA7E21529A594F4081043DA43D502A11"><enum>503.</enum><header>Extension and
modification of energy efficient commercial buildings deduction</header>
<subsection commented="no" id="id481CB54D3F294E028352C3BE95ECA684"><enum>(a)</enum><header>Extension</header><text>Section
179D(h) (relating to termination) is amended by striking <quote>December 31,
2008</quote> and inserting <quote>December 31, 2009</quote>.</text>
</subsection><subsection commented="no" id="id68F59D01A735403EA2E7FB824F5756E0"><enum>(b)</enum><header>Adjustment of
maximum deduction amount</header>
<paragraph commented="no" id="idD754A8F09DC04C189C3A277FB5EF938D"><enum>(1)</enum><header>In
general</header><text>Subparagraph (A) of section 179D(b)(1) (relating to
maximum amount of deduction) is amended by striking <quote>$1.80</quote> and
inserting <quote>$2.25</quote>.</text>
</paragraph><paragraph id="id80A95924C98F4813B0FFB7A55746155D"><enum>(2)</enum><header>Partial
allowance</header><text>Paragraph (1) of section 179D(d) is amended—</text>
<subparagraph id="id9378B974A80E40F8A948DFB8DB9AEA00"><enum>(A)</enum><text>by striking
<quote>$.60</quote> and inserting <quote>$0.75</quote>, and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="id7E00A6AB838F450297F5E4DFF760EB81"><enum>(B)</enum><text>by striking
<quote>$1.80</quote> and inserting <quote>$2.25</quote>.</text>
</subparagraph></paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="id69C6E19A1CA34425A3B1DBAAEBA3E1DA"><enum>(c)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to property
placed in service after the date of the enactment of this Act.</text>
</subsection></section><section display-inline="no-display-inline" id="HDFE751ABDF994511B735159DD5AA70C0" section-type="subsequent-section"><enum>504.</enum><header>Modification and
extension of energy efficient appliance credit for appliances produced after
2007</header>
<subsection id="H8668A78BED85453C9BA5490008296380"><enum>(a)</enum><header>In
general</header><text>Subsection (b) of section 45M (relating to applicable
amount) is amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="H6CAF20EB7489483DAD1C3D70FCE3E305" style="OLC">
<subsection id="H0D36D5BC4C1748649E832CF06CC15843"><enum>(b)</enum><header>Applicable
amount</header><text>For purposes of subsection (a)—</text>
<paragraph id="H71B773AD1FE14A9AA8E80887FB855EAF"><enum>(1)</enum><header>Dishwashers</header><text>The
applicable amount is—</text>
<subparagraph id="H1FA05AD3DA714EBDB9C76309E0F626B7"><enum>(A)</enum><text>$45 in the case of
a dishwasher which is manufactured in calendar year 2008 or 2009 and which uses
no more than 324 kilowatt hours per year and 5.8 gallons per cycle, and</text>
</subparagraph><subparagraph id="H53B2F95E74184C939C462E05188443CB"><enum>(B)</enum><text>$75 in the case of
a dishwasher which is manufactured in calendar year 2008, 2009, or 2010 and
which uses no more than 307 kilowatt hours per year and 5.0 gallons per cycle
(5.5 gallons per cycle for dishwashers designed for greater than 12 place
settings).</text>
</subparagraph></paragraph><paragraph id="H3E6CB6C6BC8F4CACB45FC07B7F00407F"><enum>(2)</enum><header>Clothes
washers</header><text>The applicable amount is—</text>
<subparagraph id="H67C62CD8131141E9987984277B3FAA53"><enum>(A)</enum><text>$75 in the case of
a residential top-loading clothes washer manufactured in calendar year 2008
which meets or exceeds a 1.72 modified energy factor and does not exceed a 8.0
water consumption factor,</text>
</subparagraph><subparagraph id="HD9FCE4EEBB1E45D0AA028B09865D9BA7"><enum>(B)</enum><text>$125 in the case
of a residential top-loading clothes washer manufactured in calendar year 2008
or 2009 which meets or exceeds a 1.8 modified energy factor and does not exceed
a 7.5 water consumption factor,</text>
</subparagraph><subparagraph id="H45297A51D21C433F80E786BA7181B474"><enum>(C)</enum><text>$150 in the case
of a residential or commercial clothes washer manufactured in calendar year
2008, 2009, or 2010 which meets or exceeds 2.0 modified energy factor and does
not exceed a 6.0 water consumption factor, and</text>
</subparagraph><subparagraph id="H29C4114B024149AC991890D4B6821CAE"><enum>(D)</enum><text>$250 in the case
of a residential or commercial clothes washer manufactured in calendar year
2008, 2009, or 2010 which meets or exceeds 2.2 modified energy factor and does
not exceed a 4.5 water consumption factor.</text>
</subparagraph></paragraph><paragraph id="H1A02980D41254D5698A61999ACFC9F2F"><enum>(3)</enum><header>Refrigerators</header><text>The
applicable amount is—</text>
<subparagraph id="H85E3F47F90544A4DB62BCF7B083E81F2"><enum>(A)</enum><text>$50 in the case of
a refrigerator which is manufactured in calendar year 2008, and consumes at
least 20 percent but not more than 22.9 percent less kilowatt hours per year
than the 2001 energy conservation standards,</text>
</subparagraph><subparagraph id="H3137E5EBEE1C421E9038AF74F37662E"><enum>(B)</enum><text>$75 in the case of
a refrigerator which is manufactured in calendar year 2008 or 2009, and
consumes at least 23 percent but no more than 24.9 percent less kilowatt hours
per year than the 2001 energy conservation standards,</text>
</subparagraph><subparagraph id="HB6105C96A9C542D2896BBF1E9E7EA13F"><enum>(C)</enum><text>$100 in the case
of a refrigerator which is manufactured in calendar year 2008, 2009, or 2010,
and consumes at least 25 percent but not more than 29.9 percent less kilowatt
hours per year than the 2001 energy conservation standards, and</text>
</subparagraph><subparagraph id="H8ACA1828E0AB423F8806E3A842907DB"><enum>(D)</enum><text>$200 in the case of
a refrigerator manufactured in calendar year 2008, 2009, or 2010 and which
consumes at least 30 percent less energy than the 2001 energy conservation
standards.</text>
</subparagraph></paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="H5542BADAAF054FD786C5F6791223822E"><enum>(b)</enum><header>Eligible
production</header>
<paragraph id="HD64B4341DF7242E4A9335357CA5921AC"><enum>(1)</enum><header>Similar
treatment for all appliances</header><text>Subsection (c) of section 45M
(relating to eligible production) is amended—</text>
<subparagraph id="HFA9519AF9B3F4FD29B3EFFF7E01CEB44"><enum>(A)</enum><text>by striking
paragraph (2),</text>
</subparagraph><subparagraph id="H07FA5F82AE2348C49553DB6051F8BC8"><enum>(B)</enum><text>by striking
<quote>(1) <header-in-text level="paragraph" style="OLC">In
general</header-in-text></quote> and all that follows through <quote>the
eligible</quote> and inserting <quote>The eligible</quote>, and</text>
</subparagraph><subparagraph id="H12434A20BF9948CE9F9B7B5E50C9F84"><enum>(C)</enum><text>by moving the text
of such subsection in line with the subsection heading and redesignating
subparagraphs (A) and (B) as paragraphs (1) and (2), respectively.</text>
</subparagraph></paragraph><paragraph id="H50E4EC2730A14C7181AD52ADB59D6C03"><enum>(2)</enum><header>Modification of
base period</header><text>Paragraph (2) of section 45M(c), as amended by
paragraph (1) of this section, is amended by striking <quote>3-calendar
year</quote> and inserting <quote>2-calendar year</quote>.</text>
</paragraph></subsection><subsection id="H130C7D2D1BD9446100AEBF00FB98E558"><enum>(c)</enum><header>Types of energy
efficient appliances</header><text>Subsection (d) of section 45M (defining
types of energy efficient appliances) is amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="H5EBFAB2EABEC4A8397CF9401AAF3C477" style="OLC">
<subsection id="H87BCB9A5931C4F34A486A84F5703B2A2"><enum>(d)</enum><header>Types of energy
efficient appliance</header><text display-inline="yes-display-inline">For
purposes of this section, the types of energy efficient appliances are—</text>
<paragraph id="H0638FB66088849E3897207CDFB21FD04"><enum>(1)</enum><text>dishwashers
described in subsection (b)(1),</text>
</paragraph><paragraph id="H95AEA4C87AD14158B88890651D246694"><enum>(2)</enum><text>clothes washers
described in subsection (b)(2), and</text>
</paragraph><paragraph id="H7795DEFFF5B74A38A0DBFBE000007D34"><enum>(3)</enum><text>refrigerators
described in subsection
(b)(3).</text>
</paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="H0CDCEDFF3B1B4199AD5BF3FF688F79C2"><enum>(d)</enum><header>Aggregate credit
amount allowed</header>
<paragraph id="H2D36C9367AD247DCA1F536D79F3C69ED"><enum>(1)</enum><header>Increase in
limit</header><text>Paragraph (1) of section 45M(e) (relating to aggregate
credit amount allowed) is amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="H8D18A14B8FED4067009694C7D6B0097" style="OLC">
<paragraph id="HAB44B6ED41AE429BBF7EAA8B8F479423"><enum>(1)</enum><header>Aggregate credit
amount allowed</header><text display-inline="yes-display-inline">The aggregate
amount of credit allowed under subsection (a) with respect to a taxpayer for
any taxable year shall not exceed $75,000,000 reduced by the amount of the
credit allowed under subsection (a) to the taxpayer (or any predecessor) for
all prior taxable years beginning after December 31,
2007.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="H7007A40913054256B434CEA3832CDD7B"><enum>(2)</enum><header>Exception for
certain refrigerator and clothes washers</header><text>Paragraph (2) of section
45M(e) is amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="HC0F284CACDBE47F2A50006BB49B2D1A2" style="OLC">
<paragraph id="H6A3FD5CC2F7847509B46FFAC74A19CD7"><enum>(2)</enum><header>Amount allowed
for certain refrigerators and clothes washers</header><text display-inline="yes-display-inline">Refrigerators described in subsection
(b)(3)(D) and clothes washers described in subsection (b)(2)(D) shall not be
taken into account under paragraph
(1).</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection id="HF847F34654D14A1EAE4475D45091BA05"><enum>(e)</enum><header>Qualified energy
efficient appliances</header>
<paragraph id="HE604C091C15B4FD78587E483005F0203"><enum>(1)</enum><header>In
general</header><text>Paragraph (1) of section 45M(f) (defining qualified
energy efficient appliance) is amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="HF95585582BE847069427B8CD7F48C0F9" style="OLC">
<paragraph id="HBA6339B03E5D4E679DC38FB8A00019BC"><enum>(1)</enum><header>Qualified energy
efficient appliance</header><text display-inline="yes-display-inline">The term
<term>qualified energy efficient appliance</term> means—</text>
<subparagraph id="H3D5B8FC5768F481D8BCBCE00F98B009E"><enum>(A)</enum><text display-inline="yes-display-inline">any dishwasher described in subsection
(b)(1),</text>
</subparagraph><subparagraph id="H7CA629012AF74B7F91251D95007CE5B8"><enum>(B)</enum><text>any clothes washer
described in subsection (b)(2), and</text>
</subparagraph><subparagraph id="H2630530465BB427FA39655CE51454DB"><enum>(C)</enum><text>any refrigerator
described in subsection
(b)(3).</text>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="HDDFCB52435574B7D97B5BD73CCD00F2"><enum>(2)</enum><header>Clothes
washer</header><text>Section 45M(f)(3) (defining clothes washer) is amended by
inserting <quote>commercial</quote> before <quote>residential</quote> the
second place it appears.</text>
</paragraph><paragraph id="H2698E84BAA4A4B24A0EC134701C94708"><enum>(3)</enum><header>Top-loading
clothes washer</header><text>Subsection (f) of section 45M (relating to
definitions) is amended by redesignating paragraphs (4), (5), (6), and (7) as
paragraphs (5), (6), (7), and (8), respectively, and by inserting after
paragraph (3) the following new paragraph:</text>
<quoted-block display-inline="no-display-inline" id="H605D54813A77429EA6A273E03964B34" style="OLC">
<paragraph id="HE3A7675A57D646E1AFC4C6B0A4060700"><enum>(4)</enum><header>Top-loading
clothes washer</header><text display-inline="yes-display-inline">The term
<term>top-loading clothes washer</term> means a clothes washer which has the
clothes container compartment access located on the top of the machine and
which operates on a vertical
axis.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="HAE7CCC35820A43D884513244F4B6A6BD"><enum>(4)</enum><header>Replacement of
energy factor</header><text>Section 45M(f)(6), as redesignated by paragraph
(3), is amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="HF41F7B8F5613499EB0AF4EC3EF007573" style="OLC">
<paragraph id="H77C55FAF2AFE40E28B16CA17D0B8254B"><enum>(6)</enum><header>Modified energy
factor</header><text display-inline="yes-display-inline">The term
<term>modified energy factor</term> means the modified energy factor
established by the Department of Energy for compliance with the Federal energy
conservation
standard.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="H15188DE32F914C158FA186D330727321"><enum>(5)</enum><header>Gallons per
cycle; water consumption factor</header><text>Section 45M(f) (relating to
definitions), as amended by paragraph (3), is amended by adding at the end the
following:</text>
<quoted-block display-inline="no-display-inline" id="HBE15AD7ACA8744BAB809CE66EF847670" style="OLC">
<paragraph id="H3BACA5DF23794C96BC1D76E883ABFBB2"><enum>(9)</enum><header>Gallons per
cycle</header><text display-inline="yes-display-inline">The term <term>gallons
per cycle</term> means, with respect to a dishwasher, the amount of water,
expressed in gallons, required to complete a normal cycle of a
dishwasher.</text>
</paragraph><paragraph id="H951E82F0A69649C694B95183D5C3555D"><enum>(10)</enum><header>Water
consumption factor</header><text display-inline="yes-display-inline">The term
<term>water consumption factor</term> means, with respect to a clothes washer,
the quotient of the total weighted per-cycle water consumption divided by the
cubic foot (or liter) capacity of the clothes
washer.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="H34F0CDB6C6914FEFA8C6BE81006D99D9"><enum>(f)</enum><header>Effective
date</header><text display-inline="yes-display-inline">The amendments made by
this section shall apply to appliances produced after December 31, 2007.</text>
</subsection></section><enum>VI</enum><header>Extension of
Alternative fuels and marginal production</header>
<section commented="no" display-inline="no-display-inline" id="id3A85133DDADD436BA9E7496B683F78C2" section-type="subsequent-section"><enum>601.</enum><header>Percentage depletion
for marginal well production</header>
<subsection commented="no" display-inline="no-display-inline" id="idB0762CBFEC19468CB5812AA81527C8DB"><enum>(a)</enum><header>In
general</header><text>Section 613A(c)(6)(H) (relating to temporary suspension
of taxable income limit with respect to marginal production) is amended by
striking <quote>January 1, 2008</quote> and inserting <quote>January 1,
2010</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="id8DB0A46CE64F4EB78547BA9DDF868912"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to taxable
years beginning after December 31, 2007.</text>
</subsection></section><section display-inline="no-display-inline" id="HE5D59A293B7D43D7B7FC82E822DCD500" section-type="subsequent-section"><enum>602.</enum><header>Credits for
biodiesel and renewable diesel</header>
<subsection id="H2CE8855EA4C14F99B19445887B4F6797"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline">Sections 40A(g),
6426(c)(6), and 6427(e)(5)(B) are each amended by striking <quote>December 31,
2008</quote> and inserting <quote>December 31, 2009</quote>.</text>
</subsection><subsection id="H9EA127B381D14281B238A15055F28578"><enum>(b)</enum><header>Effective
date</header><text display-inline="yes-display-inline">The amendments made by
this section shall apply to fuel produced, and sold or used, after December 31,
2008.</text>
</subsection></section><section id="id2308E9B9B2D8423CBB0ECF232C8B54AE"><enum>603.</enum><header>Credit for
alternative fuels</header>
<subsection id="id7D829601AD6843F69D81D92050659395"><enum>(a)</enum><header>In
general</header><text>Sections 6426(d)(4), 6426(e)(3), and 6427(e)(5)(C) are
each amended by striking <quote>September 30, 2009</quote> and inserting
<quote>December 31, 2009</quote>.</text>
</subsection><subsection id="id6DD2FDF09E5842BFA925D7EBC2E32029"><enum>(b)</enum><header>Effective
date</header><text display-inline="yes-display-inline">The amendments made by
this section shall apply to fuel produced, and sold or used, after September
30, 2009.</text>
</subsection></section><enum>VII</enum><header>Tax
administration</header>
<section commented="no" id="HD8AA2CDE5BDF4DA5B94635B915B26790"><enum>701.</enum><header>Permanent
authority for undercover operations</header>
<subsection commented="no" id="id1256488E6E674445A43395F8F5471ED7"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline">Section 7608(c)
(relating to rules relating to undercover operations) is amended by striking
paragraph (6).</text>
</subsection><subsection commented="no" id="id866CB13866394E5D840EF2D24101DB8C"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to operations
conducted after the date of the enactment of this Act.</text>
</subsection></section><section commented="no" id="idD1190C492C024BE8BBC53BC6F1D67B6A"><enum>702.</enum><header>Permanent
disclosures of certain tax return information</header>
<subsection commented="no" id="idDEBADC9345D5461AA06BB800D2FF2FA2"><enum>(a)</enum><header>Disclosures To
facilitate combined employment tax reporting</header>
<paragraph commented="no" id="idEE0EC188A4414EF48AFF1B05B62EDAF7"><enum>(1)</enum><header>In
general</header><text>Section 6103(d)(5) (relating to disclosure for combined
employment tax reporting) is amended—</text>
<subparagraph commented="no" id="id0B659C71923646708597E8665BF96A45"><enum>(A)</enum><text>by striking
<quote><header-in-text level="paragraph" style="OLC">reporting</header-in-text></quote> in the heading thereof and all
that follows through <quote>The Secretary</quote> in subparagraph (A) and
inserting <quote><header-in-text level="paragraph" style="OLC">reporting</header-in-text>.—The Secretary</quote>, and</text>
</subparagraph><subparagraph commented="no" id="idA80A5CF919974391812F1E54C324D139"><enum>(B)</enum><text>by striking
subparagraph (B).</text>
</subparagraph></paragraph><paragraph commented="no" id="id0F7504DBB54C45B58A6D3775333C57BB"><enum>(2)</enum><header>Effective
date</header><text>The amendments made by this subsection shall apply to
disclosures after the date of the enactment of this Act.</text>
</paragraph></subsection><subsection id="id2AF6810BB9014097A7FD75147E520D99"><enum>(b)</enum><header>Disclosures
relating to certain programs administered by the Department of Veterans
Affairs</header>
<paragraph id="id7B8374F2537E45C8822A366EBEBE87C9"><enum>(1)</enum><header>In
general</header><text>Section 6103(l)(7)(D) (relating to programs to which rule
applies) is amended by striking the last sentence.</text>
</paragraph><paragraph id="idE573DD248F0444229F4A5D356CEA7D9B"><enum>(2)</enum><header>Technical
amendment</header><text>Section 6103(l)(7)(D)(viii)(III) is amended by striking
<quote>sections 1710(a)(1)(I), 1710(a)(2), 1710(b), and 1712(a)(2)(B)</quote>
and inserting <quote>sections 1710(a)(2)(G), 1710(a)(3), and
1710(b)</quote>.</text>
</paragraph></subsection></section><section id="HCCBC84DF674B459D987009A68BBADAB3"><enum>703.</enum><header>Disclosure of
information relating to terrorist activities</header>
<subsection id="id7FFC37FAD275446E8D524A87A9103E7B"><enum>(a)</enum><header>Disclosure of
return information To apprise appropriate officials of terrorist
activities</header><text>Clause (iv) of section 6103(i)(3)(C) (relating to
termination) is amended by striking <quote>December 31, 2007</quote> and
inserting <quote>December 31, 2009</quote>.</text>
</subsection><subsection id="H861F113D5C6847F300E85DE3251E0251"><enum>(b)</enum><header>Disclosure upon
request of information relating to terrorist
activities</header><text>Subparagraph (E) of section 6103(i)(7) (relating to
termination) is amended by striking <quote>December 31, 2007</quote> and
inserting <quote>December 31, 2009</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="HD5A4373760014A61B3256D4C810056EF"><enum>(c)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to
disclosures after the date of the enactment of this Act.</text>
</subsection></section>
June 9, 2008
Read the second time and placed on the
calendar