1.This Act may be cited as the
Job Creation Act of
2010
.
<enum>I</enum><header>General Provisions
Affecting Small Business</header>
<section id="HA8693612985348D69391460851349F27" section-type="subsequent-section"><enum>101.</enum><header>Extension of
increased expensing for small businesses</header>
<subsection id="HF9A1A0CF1B754C5DB50616EEBA8BEEAC"><enum>(a)</enum><header>In
general</header><text>Paragraph (7) of section 179(b) of the Internal Revenue
Code of 1986 is amended—</text>
<paragraph id="H528813E3992D4FB0BCD736981BFDC882"><enum>(1)</enum><text>by striking
<quote>or 2009</quote> and inserting <quote>2009, or 2010</quote>, and</text>
</paragraph><paragraph id="HD3631637531C45CD9608E0CDD270C282"><enum>(2)</enum><text>by striking
<quote><header-in-text level="paragraph" style="OLC">and
2009</header-in-text></quote> in the heading thereof and inserting
<quote><header-in-text level="paragraph" style="OLC">2009, or
2010</header-in-text></quote>.</text>
</paragraph></subsection><subsection id="HFEA5DA501AA84B5D9A8053C3B05FCE29"><enum>(b)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to taxable
years beginning after December 31, 2009.</text>
</subsection></section><section id="HC6070CD48FE94C36A7CF52505DF6E6FD"><enum>102.</enum><header>One year
elimination of the capital gains tax for small businesses</header>
<subsection id="H0459B26192E648A494F67C8E15B50D3B"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline">Subsection (a) of
section 1202 of the Internal Revenue Code of 1986 (relating to partial
exclusion for gain from certain small business stock) is amended by adding at
the end the following new paragraph:</text>
<quoted-block display-inline="no-display-inline" id="H54D20730BFF84E5889FC6A11F2B245ED" style="OLC">
<paragraph id="HCE73BB7B280E41EFB0CF513A937E22EF"><enum>(4)</enum><header>Special rule for
2010</header><text display-inline="yes-display-inline">In the case of qualified
small business stock acquired after December 31, 2009, and before January 1,
2011—</text>
<subparagraph id="H54940C95DB1D4C198FFC88CF139012C1"><enum>(A)</enum><text>paragraph (1)
shall be applied by substituting <quote>100 percent</quote> for <quote>50
percent</quote>, and</text>
</subparagraph><subparagraph id="H865C112B8D194A4486BC17AFCC58A61C"><enum>(B)</enum><text>paragraph (2)
shall not
apply.</text>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="H4F625B667F2B4ADAAF7CCA65B5CD4B9B"><enum>(b)</enum><header>Conforming
amendments</header><text>Section 1202(a)(3) of such Code is amended—</text>
<paragraph id="H1B88A0FE3FE8436D8E44AF36D16D2B42"><enum>(1)</enum><text>by striking
<quote>2011</quote> and inserting <quote>2010</quote>, and</text>
</paragraph><paragraph id="HC3DF117AE47644A8B1EDB9F3EDEB8EE9"><enum>(2)</enum><text>by striking
<quote><header-in-text level="paragraph" style="OLC">and
2010</header-in-text></quote> in the heading.</text>
</paragraph></subsection><subsection id="HFB7668FD8A1B4AABAB88D6A294BF06B6"><enum>(c)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to stock
acquired after December 31, 2009.</text>
</subsection></section><section id="H1881BE1A9EBE447A93A7D724F56C79C7"><enum>103.</enum><header>Unemployment
benefits excluded from income tax for 2010</header>
<subsection id="H77405D8488CA432C9BF9627802406AD5"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline">Section 85 of the
Internal Revenue Code of 1986 (relating to unemployment compensation) is
amended by adding at the end the following new subsection:</text>
<quoted-block display-inline="no-display-inline" id="H65E3228973FD4B2D9C6679AF8A5ABE3D" style="OLC">
<subsection id="HAFE501AE423745F188E7C78DBC292BF7"><enum>(d)</enum><header>Special rule for
2009</header><text display-inline="yes-display-inline">Subsection (a) shall not
apply in the case of any taxable year beginning in
2010.</text>
</subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="H0869A0665BCF4ABB96235AA39FB41BFB"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by subsection (a) shall apply to taxable
years beginning after December 31, 2009.</text>
</subsection></section><section commented="no" id="HC2DC1BF0EF804D16B35DCD7153B72ADF"><enum>104.</enum><header>Reduction in
troubled asset purchases that may be outstanding as TARP funds are
repaid</header><text display-inline="no-display-inline">Section 106(d) of the
Emergency Economic Stabilization Act of 2008 is amended by adding at the end
the following new sentence: <quote>The maximum amount of purchase authority for
troubled assets that is authorized to be outstanding at any one time under
section 115 shall be reduced by the amount of any payment into the Treasury
under the preceding sentence after the date of the enactment of the
<short-title>Job Creation Act of
2010</short-title>.</quote>.</text>
</section><enum>II</enum><header>Federal Rules of
Civil Procedure improvements</header>
<section id="H649C0D8049AD4E389894E1E86534C89D"><enum>201.</enum><header>Attorney
accountability</header><text display-inline="no-display-inline">Rule 11(c) of
the Federal Rules of Civil Procedure is amended—</text>
<paragraph id="H301B759E059647CAB14B5CA00648EB36"><enum>(1)</enum><text>by amending the
first sentence to read as follows: <quote>If a pleading, motion, or other paper
is signed in violation of this rule, the court, upon motion or upon its own
initiative, shall impose upon the attorney, law firm, or parties that have
violated this subdivision or are responsible for the violation, an appropriate
sanction, which may include an order to pay the other party or parties for the
reasonable expenses incurred as a direct result of the filing of the pleading,
motion, or other paper, that is the subject of the violation, including a
reasonable attorney's fee.</quote>;</text>
</paragraph><paragraph id="H995DF21F699945AF97C951DE0619B6E2"><enum>(2)</enum><text>in paragraph
(1)(A)—</text>
<subparagraph id="H8D5FF4E0242E4EF6AB85968971D62EE3"><enum>(A)</enum><text>by striking
<quote>Rule 5</quote> and all that follows through <quote>corrected.</quote>
and inserting <quote>Rule 5.</quote>; and</text>
</subparagraph><subparagraph id="H457ACA31889747D7910A65F8FE067B5F"><enum>(B)</enum><text>by striking
<quote>the court may award</quote> and inserting <quote>the court shall
award</quote>; and</text>
</subparagraph></paragraph><paragraph id="HBE84F2ECE991451F8D6E22B3AA73C52B"><enum>(3)</enum><text>in paragraph (2),
by striking <quote>shall be limited to what is sufficient</quote> and all that
follows through the end of the paragraph (including subparagraphs (A) and (B))
and inserting <quote>shall be sufficient to deter repetition of such conduct or
comparable conduct by others similarly situated, and to compensate the parties
that were injured by such conduct. The sanction may consist of an order to pay
to the party or parties the amount of the reasonable expenses incurred as a
direct result of the filing of the pleading, motion, or other paper that is the
subject of the violation, including a reasonable attorney's
fee.</quote>.</text>
</paragraph></section><section id="H45BCFECEB9FB418A96758F26C4696E1F"><enum>202.</enum><header>Applicability
of Rule 11 to State cases affecting interstate commerce</header><text display-inline="no-display-inline">In any civil action in State court, the
court, upon motion, shall determine within 30 days after the filing of such
motion whether the action substantially affects interstate commerce. Such court
shall make such determination based on an assessment of the costs to the
interstate economy, including the loss of jobs, were the relief requested
granted. If the court determines such action substantially affects interstate
commerce, the provisions of Rule 11 of the Federal Rules of Civil Procedure
shall apply to such action.</text>
</section><section id="H271A1B0A10AB4F7D8A117284C7355963"><enum>203.</enum><header>Prevention of
forum-shopping</header>
<subsection id="H851721FC141649A4BA3CE2AA646871C1"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline">Subject to subsection
(b), a personal injury claim filed in State or Federal court may be filed only
in the State and, within that State, in the county (or if there is no State
court in the county, the nearest county where a court of general jurisdiction
is located), or Federal district in which—</text>
<paragraph id="HE6BFDF1014A04A21ACBDCE24CF134367"><enum>(1)</enum><text>the person
bringing the claim, including an estate in the case of a decedent and a parent
or guardian in the case of a minor or incompetent—</text>
<subparagraph id="HF0958A99F9B74720A486BF175E81B358"><enum>(A)</enum><text>resides at the
time of filing; or</text>
</subparagraph><subparagraph id="H95E840E9A2E04346BC7323E387FF0DFB"><enum>(B)</enum><text>resided at the
time of the alleged injury;</text>
</subparagraph></paragraph><paragraph id="H92C1170CA0A54B47825A62C0697FF6D3"><enum>(2)</enum><text>the alleged injury
or circumstances giving rise to the personal injury claim allegedly
occurred;</text>
</paragraph><paragraph id="H9F6D78ACE2634E0E84CF4ACE29EA6E4D"><enum>(3)</enum><text>the defendant's
principal place of business is located, if the defendant is a corporation;
or</text>
</paragraph><paragraph id="H79EE8DD3C03F44E5A6AE58ED2E4CACEF"><enum>(4)</enum><text>the defendant
resides, if the defendant is an individual.</text>
</paragraph></subsection><subsection id="H559DA4A38454414ABCB2CB16AA4DE784"><enum>(b)</enum><header>Determination of
Most Appropriate Forum</header><text>If a person alleges that the injury or
circumstances giving rise to the personal injury claim occurred in more than
one county (or Federal district), the trial court shall determine which State
and county (or Federal district) is the most appropriate forum for the claim.
If the court determines that another forum would be the most appropriate forum
for a claim, the court shall dismiss the claim. Any otherwise applicable
statute of limitations shall be tolled beginning on the date the claim was
filed and ending on the date the claim is dismissed under this
subsection.</text>
</subsection><subsection id="H77C9D6CE4A1E4DC0A4F28EB2A32DE25C"><enum>(c)</enum><header>Definitions</header><text>In
this section:</text>
<paragraph id="H5776F3EF04EE4EE89F6F3C2B6EBBE499"><enum>(1)</enum><text>The term
<term>personal injury claim</term>—</text>
<subparagraph id="H3CEE5DE0F69943B8BFCA5AD4B9C815D0"><enum>(A)</enum><text>means a civil
action brought under State law by any person to recover for a person's personal
injury, illness, disease, death, mental or emotional injury, risk of disease,
or other injury, or the costs of medical monitoring or surveillance (to the
extent such claims are recognized under State law), including any derivative
action brought on behalf of any person on whose injury or risk of injury the
action is based by any representative party, including a spouse, parent, child,
or other relative of such person, a guardian, or an estate;</text>
</subparagraph><subparagraph id="HB2C6697090784DE78ED4844E107F7A4A"><enum>(B)</enum><text>does not include a
claim brought as a class action; and</text>
</subparagraph><subparagraph id="HCFCAF10351284D4F8E93D1CD01ADC62F"><enum>(C)</enum><text>does not include a
claim against a debtor in a case pending under title 11 of the United States
Code that is a personal injury tort or wrongful death claim within the meaning
of section 157(b)(5) of title 28, United States Code.</text>
</subparagraph></paragraph><paragraph id="HFF3A4D4E6F47449B922775CD77AEC6FA"><enum>(2)</enum><text>The term
<term>person</term> means any individual, corporation, company, association,
firm, partnership, society, joint stock company, or any other entity, but not
any governmental entity.</text>
</paragraph><paragraph id="H6CC4221EB22B4AD78AB2D93847AE6FC1"><enum>(3)</enum><text>The term
<term>State</term> includes the District of Columbia, the Commonwealth of
Puerto Rico, the United States Virgin Islands, Guam, and any other territory or
possession of the United States.</text>
</paragraph></subsection><subsection id="H4A3AEE2C8BB24C3EAF43C06E8D303FBB"><enum>(d)</enum><header>Applicability</header><text>This
section applies to any personal injury claim filed in Federal or State court on
or after the date of the enactment of this Act.</text>
</subsection></section><section id="H856F0D09F4E7493AA9B65B6FDF40266C"><enum>204.</enum><header>Rule of
construction</header><text display-inline="no-display-inline">Nothing in
section 202 or in the amendments made by section 201 shall be construed to bar
or impede the assertion or development of new claims or remedies under Federal,
State, or local civil rights law.</text>
</section><section id="HFDAFA47A6B7A4E818FAFC741118BF1E3"><enum>205.</enum><header>Three-strikes
rule for suspending attorneys who commit multiple Rule 11 violations</header>
<subsection id="H8DC8D07A3F814170B770D7AB6F7B923F"><enum>(a)</enum><header>Mandatory
Suspension</header><text display-inline="yes-display-inline">Whenever a Federal
district court determines that an attorney has violated Rule 11 of the Federal
Rules of Civil Procedure, the court shall determine the number of times that
the attorney has violated that rule in that Federal district court during that
attorney's career. If the court determines that the number is three or more,
the Federal district court—</text>
<paragraph id="H59AF50FF69F24A188B779A403C5F26B4"><enum>(1)</enum><text>shall suspend that
attorney from the practice of law in that Federal district court for one year;
and</text>
</paragraph><paragraph id="HA956B13EEA0540C188003F6B1A48DCC1"><enum>(2)</enum><text>may suspend that
attorney from the practice of law in that Federal district court for any
additional period that the court considers appropriate.</text>
</paragraph></subsection><subsection id="H50BCF9B6D1A1459B83C6E1B3F4D0274F"><enum>(b)</enum><header>Appeal;
Stay</header><text>An attorney has the right to appeal a suspension under
subsection (a). While such an appeal is pending, the suspension shall be
stayed.</text>
</subsection><subsection id="H90760EED046D48B2B4542E6DF60441A0"><enum>(c)</enum><header>Reinstatement</header><text>To
be reinstated to the practice of law in a Federal district court after
completion of a suspension under subsection (a), the attorney involved must
first petition the court for reinstatement under such procedures and conditions
as the court may prescribe.</text>
</subsection></section><section id="HCC0BA6ED47DC42D384E6734DC3C015B0"><enum>206.</enum><header>Presumption of
rule 11 violation for repeatedly relitigating same issue</header><text display-inline="no-display-inline">Whenever a party presents to a Federal court
a pleading, written motion, or other paper, that includes a claim or defense
that the party has already litigated and lost on the merits in any forum in
final decisions not subject to appeal on three consecutive occasions, and the
claim or defense, respectively, involves the same plaintiff and the same
defendant on each occasion, there shall be a rebuttable presumption that the
presentation of such paper is in violation of Rule 11 of the Federal Rules of
Civil Procedure.</text>
</section><section id="HBF70E798AECD49B7B42ED75A9496E74F"><enum>207.</enum><header>Enhanced
sanctions for document destruction in pending Federal court
proceedings</header><text display-inline="no-display-inline">Whoever willfully
and intentionally influences, obstructs, or impedes, or attempts to influence,
or obstruct, or impede, a pending Federal court proceeding through the willful
and intentional destruction of documents sought pursuant to the rules of such
Federal court proceeding and highly relevant to that proceeding—</text>
<paragraph id="H64DF8F68AC144796B32843B058CA6821"><enum>(1)</enum><text>shall be punished
with mandatory civil sanctions of a degree commensurate with the civil
sanctions available under Rule 11 of the Federal Rules of Civil Procedure, in
addition to any other civil sanctions that otherwise apply; and</text>
</paragraph><paragraph id="H3E6472746CB9429D9DFA679EDFC54B12"><enum>(2)</enum><text>shall be held in
contempt of court; and if an attorney, referred to one or more appropriate
State bar associations for disciplinary proceedings.</text>
</paragraph></section><section id="H34C9043427DE4B8E94B02852ABAC82F7"><enum>208.</enum><header>Ban on
concealment of unlawful conduct</header>
<subsection id="HCB07BA53CB03403CBF80EFF9037FA1B4"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline">In any Rule 11 of the
Federal Rules of Civil Procedure proceeding, a court may not order that a court
record not be disclosed unless the court makes a finding of fact that
identifies the interest that justifies the order and determines that interest
outweighs any interest in the public health and safety that the court
determines would be served by disclosing the court record.</text>
</subsection><subsection id="H91ED263BDD9F485BB7E893BDA613C19F"><enum>(b)</enum><header>Applicability</header><text>This
section applies to any record formally filed with a court, but shall not
include any records subject to—</text>
<paragraph id="H84352ADB75944395A2EA7F996C7EDBB5"><enum>(1)</enum><text>the
attorney-client privilege or any other privilege recognized under Federal or
State law that grants the right to prevent disclosure of certain information
unless the privilege has been waived; or</text>
</paragraph><paragraph id="H7B5490114A904326A423BC325702B8A6"><enum>(2)</enum><text>applicable State
or Federal laws that protect the confidentiality of crime victims, including
victims of sexual abuse.</text>
</paragraph></subsection></section>