1.
(a)This Act may be cited as the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010
.
(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 for this Act is as follows:
Sec. 1. Short title; etc.
TITLE I—Temporary extension of tax relief
Sec. 101. Temporary extension of 2001 tax relief.
Sec. 102. Temporary extension of 2003 tax relief.
Sec. 103. Temporary extension of 2009 tax relief.
TITLE II—Temporary extension of individual AMT relief
Sec. 201. Temporary extension of increased alternative minimum tax exemption amount.
Sec. 202. Temporary extension of alternative minimum tax relief for nonrefundable personal credits.
TITLE III—Temporary estate tax relief
Sec. 301. Reinstatement of estate tax; repeal of carryover basis.
Sec. 302. Modifications to estate, gift, and generation-skipping transfer taxes.
Sec. 303. Applicable exclusion amount increased by unused exclusion amount of deceased spouse.
Sec. 304. Application of EGTRRA sunset to this title.
TITLE IV—Temporary extension of investment incentives
Sec. 401. Extension of bonus depreciation; temporary 100 percent expensing for certain business assets.
Sec. 402. Temporary extension of increased small business expensing.
TITLE V—Temporary extension of unemployment insurance and related matters
Sec. 501. Temporary extension of unemployment insurance provisions.
Sec. 502. Temporary modification of indicators under the extended benefit program.
Sec. 503. Technical amendment relating to collection of unemployment compensation debts.
Sec. 504. Technical correction relating to repeal of continued dumping and subsidy offset.
Sec. 505. Additional extended unemployment benefits under the Railroad Unemployment Insurance Act.
TITLE VI—Temporary employee payroll tax cut
Sec. 601. Temporary employee payroll tax cut.
TITLE VII—Temporary extension of certain expiring provisions
Subtitle A—Energy
Sec. 701. Incentives for biodiesel and renewable diesel.
Sec. 702. Credit for refined coal facilities.
Sec. 703. New energy efficient home credit.
Sec. 704. Excise tax credits and outlay payments for alternative fuel and alternative fuel mixtures.
Sec. 705. Special rule for sales or dispositions to implement FERC or State electric restructuring policy for qualified electric utilities.
Sec. 706. Suspension of limitation on percentage depletion for oil and gas from marginal wells.
Sec. 707. Extension of grants for specified energy property in lieu of tax credits.
Sec. 708. Extension of provisions related to alcohol used as fuel.
Sec. 709. Energy efficient appliance credit.
Sec. 710. Credit for nonbusiness energy property.
Sec. 711. Alternative fuel vehicle refueling property.
Subtitle B—Individual tax relief
Sec. 721. Deduction for certain expenses of elementary and secondary school teachers.
Sec. 722. Deduction of State and local sales taxes.
Sec. 723. Contributions of capital gain real property made for conservation purposes.
Sec. 724. Above-the-line deduction for qualified tuition and related expenses.
Sec. 725. Tax-free distributions from individual retirement plans for charitable purposes.
Sec. 726. Look-thru of certain regulated investment company stock in determining gross estate of nonresidents.
Sec. 727. Parity for exclusion from income for employer-provided mass transit and parking benefits.
Sec. 728. Refunds disregarded in the administration of Federal programs and federally assisted programs.
Subtitle C—Business tax relief
Sec. 731. Research credit.
Sec. 732. Indian employment tax credit.
Sec. 733. New markets tax credit.
Sec. 734. Railroad track maintenance credit.
Sec. 735. Mine rescue team training credit.
Sec. 736. Employer wage credit for employees who are active duty members of the uniformed services.
Sec. 737. 15-year straight-line cost recovery for qualified leasehold improvements, qualified restaurant buildings and improvements, and qualified retail improvements.
Sec. 738. 7-year recovery period for motorsports entertainment complexes.
Sec. 739. Accelerated depreciation for business property on an Indian reservation.
Sec. 740. Enhanced charitable deduction for contributions of food inventory.
Sec. 741. Enhanced charitable deduction for contributions of book inventories to public schools.
Sec. 742. Enhanced charitable deduction for corporate contributions of computer inventory for educational purposes.
Sec. 743. Election to expense mine safety equipment.
Sec. 744. Special expensing rules for certain film and television productions.
Sec. 745. Expensing of environmental remediation costs.
Sec. 746. Deduction allowable with respect to income attributable to domestic production activities in Puerto Rico.
Sec. 747. Modification of tax treatment of certain payments to controlling exempt organizations.
Sec. 748. Treatment of certain dividends of regulated investment companies.
Sec. 749. RIC qualified investment entity treatment under FIRPTA.
Sec. 750. Exceptions for active financing income.
Sec. 751. Look-thru treatment of payments between related controlled foreign corporations under foreign personal holding company rules.
Sec. 752. Basis adjustment to stock of S corps making charitable contributions of property.
Sec. 753. Empowerment zone tax incentives.
Sec. 754. Tax incentives for investment in the District of Columbia.
Sec. 755. Temporary increase in limit on cover over of rum excise taxes to Puerto Rico and the Virgin Islands.
Sec. 756. American Samoa economic development credit.
Sec. 757. Work opportunity credit.
Sec. 758. Qualified zone academy bonds.
Sec. 759. Mortgage insurance premiums.
Sec. 760. Temporary exclusion of 100 percent of gain on certain small business stock.
Subtitle D—Temporary disaster relief provisions
SUBPART A—New York Liberty Zone
Sec. 761. Tax-exempt bond financing.
SUBPART B—GO Zone
Sec. 762. Increase in rehabilitation credit.
Sec. 763. Low-income housing credit rules for buildings in GO zones.
Sec. 764. Tax-exempt bond financing.
Sec. 765. Bonus depreciation deduction applicable to the GO Zone.
TITLE VIII—Budgetary provisions
Sec. 801. Determination of budgetary effects.
Sec. 802. Emergency designations.
<enum>I</enum><header>Temporary extension of tax relief</header>
<section id="H5A190BE5660343BDB40884C43849525B"><enum>101.</enum><header>Temporary extension of 2001 tax relief</header>
<subsection id="H176B1DA84583489A952C4951262CE2C8"><enum>(a)</enum><header>Temporary extension</header>
<paragraph id="H89DEF3B4789244A0A827378B841905E9"><enum>(1)</enum><header>In general</header><text display-inline="yes-display-inline">Section 901 of the Economic Growth and Tax Relief Reconciliation Act of 2001 is amended by striking <quote>December 31, 2010</quote> both places it appears and inserting <quote>December 31, 2012</quote>.</text></paragraph>
<paragraph id="HF10E0FC0922647718CE300B81FECF7DA"><enum>(2)</enum><header>Effective date</header><text>The amendment made by this subsection shall take effect as if included in the enactment of the Economic Growth and Tax Relief Reconciliation Act of 2001.</text></paragraph></subsection>
<subsection id="HB11183C313BA44EB81A6403F4ABAE4F8"><enum>(b)</enum><header>Separate sunset for expansion of adoption benefits under the Patient Protection and Affordable Care Act</header>
<paragraph id="HD8F161B6863941BAB7FB7F81D26C5ED5"><enum>(1)</enum><header>In general</header><text>Subsection (c) of section 10909 of the Patient Protection and Affordable Care Act is amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="H7333F3E7582D4483A7804F3E6D8E2D93" style="OLC">
<subsection id="HA687BF36AEAC49AD804B834C3DE39F1E"><enum>(c)</enum><header>Sunset provision</header><text>Each provision of law amended by this section is amended to read as such provision would read if this section had never been enacted. The amendments made by the preceding sentence shall apply to taxable years beginning after December 31, 2011.</text></subsection><after-quoted-block>.</after-quoted-block></quoted-block></paragraph>
<paragraph id="H9D3C765997A649C5BC6C1F40CFBA8072"><enum>(2)</enum><header>Conforming amendment</header><text>Subsection (d) of section 10909 of such Act is amended by striking <quote>The amendments</quote> and inserting <quote>Except as provided in subsection (c), the amendments</quote>.</text></paragraph></subsection></section>
<section id="HE2684CCC4D5D4A3E9FB85D4E5C27EBF3"><enum>102.</enum><header>Temporary extension of 2003 tax relief</header>
<subsection id="HA7E28BC9C8364051B1F382A131DC4A65"><enum>(a)</enum><header>In general</header><text display-inline="yes-display-inline">Section 303 of the Jobs and Growth Tax Relief Reconciliation Act of 2003 is amended by striking <quote>December 31, 2010</quote> and inserting <quote>December 31, 2012</quote>.</text></subsection>
<subsection id="HA795EF26E9844A598F64CC19F9FEEA5C"><enum>(b)</enum><header>Effective date</header><text>The amendment made by this section shall take effect as if included in the enactment of the Jobs and Growth Tax Relief Reconciliation Act of 2003.</text></subsection></section>
<section id="HD5E756A39C53448D9A3AEB1F284E5D9D"><enum>103.</enum><header>Temporary extension of 2009 tax relief</header>
<subsection id="H9C748E37B6C245D6BABDB1466619D33D"><enum>(a)</enum><header>American Opportunity Tax Credit</header>
<paragraph id="H4E748CD896504CAFBBEF97C5D4987AA6"><enum>(1)</enum><header>In general</header><text>Section 25A(i) is amended by striking <quote>or 2010</quote> and inserting <quote>, 2010, 2011, or 2012</quote>.</text></paragraph>
<paragraph id="H5055A9D29E6B4D2D88B867C28E6C022D"><enum>(2)</enum><header>Treatment of possessions</header><text>Section 1004(c)(1) of the American Recovery and Reinvestment Tax Act of 2009 is amended by striking <quote>and 2010</quote> each place it appears and inserting <quote>, 2010, 2011, and 2012</quote>.</text></paragraph></subsection>
<subsection id="HB1D868528D7249EBA5A0F8B60A419EE5"><enum>(b)</enum><header>Child tax credit</header><text>Section 24(d)(4) is amended—</text>
<paragraph id="HE38B8036B8C84DAE9361305E9AF8364F"><enum>(1)</enum><text>by striking <quote>2009 <header-in-text level="paragraph" style="OLC">and</header-in-text> 2010</quote> in the heading and inserting <quote>2009, 2010, 2011,<header-in-text level="paragraph" style="OLC"> and</header-in-text> 2012</quote>, and</text></paragraph>
<paragraph id="HF5FAC79D7A2A4EF997BB3C491D7588C1"><enum>(2)</enum><text>by striking <quote>or 2010</quote> and inserting <quote>, 2010, 2011, or 2012</quote>.</text></paragraph></subsection>
<subsection id="H3DBEDF9C65BB4380A13B3E4D90DDF719"><enum>(c)</enum><header>Earned income tax credit</header><text>Section 32(b)(3) is amended—</text>
<paragraph id="HC9046674634140308D36C787FD033B9C"><enum>(1)</enum><text>by striking <quote>2009 <header-in-text level="paragraph" style="OLC">and</header-in-text> 2010</quote> in the heading and inserting <quote>2009, 2010, 2011,<header-in-text level="paragraph" style="OLC"> and</header-in-text> 2012</quote>, and</text></paragraph>
<paragraph id="H68670BF399D4423EB8D3A9ED6F75BFD8"><enum>(2)</enum><text>by striking <quote>or 2010</quote> and inserting <quote>, 2010, 2011, or 2012</quote>.</text></paragraph></subsection>
<subsection id="H4509D21C9105434799E5218BAD7BAABA"><enum>(d)</enum><header>Effective date</header><text>The amendments made by this section shall apply to taxable years beginning after December 31, 2010.</text></subsection></section>
<enum>II</enum><header>Temporary extension of individual AMT relief</header>
<section display-inline="no-display-inline" id="H241B75BAC84B4582AFA54CE10B7372A5" section-type="subsequent-section"><enum>201.</enum><header>Temporary extension of increased alternative minimum tax exemption amount</header>
<subsection id="H57542F9A7EEB4910AD5413DD7DF79447"><enum>(a)</enum><header>In general</header><text>Paragraph (1) of section 55(d) is amended—</text>
<paragraph id="H44E2BEC0B9444C6586A0B779DEA0672F"><enum>(1)</enum><text>by striking <quote>$70,950</quote> and all that follows through <quote>2009</quote> in subparagraph (A) and inserting <quote>$72,450 in the case of taxable years beginning in 2010 and $74,450 in the case of taxable years beginning in 2011</quote>, and</text></paragraph>
<paragraph id="H7A5F1A03E23A45F795AFCD4639543013"><enum>(2)</enum><text>by striking <quote>$46,700</quote> and all that follows through <quote>2009</quote> in subparagraph (B) and inserting <quote>$47,450 in the case of taxable years beginning in 2010 and $48,450 in the case of taxable years beginning in 2011</quote>.</text></paragraph></subsection>
<subsection commented="no" display-inline="no-display-inline" id="H2FD5BC66C6864000962668BE85183CE8"><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>
<subsection commented="no" display-inline="no-display-inline" id="H587412511A4943639E9ABADE1556476A"><enum>(c)</enum><header>Repeal of EGTRRA sunset</header><text>Title IX of the Economic Growth and Tax Relief Reconciliation Act of 2001 (relating to sunset of provisions of such Act) shall not apply to title VII of such Act (relating to alternative minimum tax).</text></subsection></section>
<section id="HA8497BFBA24E43BF8B5DB0212A6941EC" section-type="subsequent-section"><enum>202.</enum><header>Temporary extension of alternative minimum tax relief for nonrefundable personal credits</header>
<subsection id="HE15C21A615474C2CA9E315BC9ED0A9DC"><enum>(a)</enum><header>In general</header><text>Paragraph (2) of section 26(a) is amended—</text>
<paragraph id="H414404E23F4745DC93A39200D1C653EC"><enum>(1)</enum><text>by striking <quote>or 2009</quote> and inserting <quote>2009, 2010, or 2011</quote>, and</text></paragraph>
<paragraph id="H5757D6AD8E9B44D9AD527C2380229D2D"><enum>(2)</enum><text>by striking <quote><header-in-text level="paragraph" style="OLC">2009</header-in-text></quote> in the heading thereof and inserting <quote><header-in-text level="paragraph" style="OLC">2011</header-in-text></quote>.</text></paragraph></subsection>
<subsection commented="no" display-inline="no-display-inline" id="H361E33DF30B74C67960333723B384C3A"><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>
<enum>III</enum><header>Temporary estate tax relief</header>
<section id="H8250398900364B88A2E3A08E06B017F1"><enum>301.</enum><header>Reinstatement of estate tax; repeal of carryover basis</header>
<subsection id="HD6DEE7FF54814E5299F19B3DF74A3DA7"><enum>(a)</enum><header>In general</header><text>Each provision of law amended by subtitle A or E of title V of the Economic Growth and Tax Relief Reconciliation Act of 2001 is amended to read as such provision would read if such subtitle had never been enacted.</text></subsection>
<subsection id="HF35674F1AAA245E68CD38DD647E32AF7"><enum>(b)</enum><header>Conforming amendment</header><text>On and after January 1, 2011, paragraph (1) of section 2505(a) of the Internal Revenue Code of 1986 is amended to read as such paragraph would read if section 521(b)(2) of the Economic Growth and Tax Relief Reconciliation Act of 2001 had never been enacted.</text></subsection>
<subsection commented="no" display-inline="no-display-inline" id="HFE3D220A509845B0B751CFDCCB0F0E75"><enum>(c)</enum><header>Special election with respect to estates of decedents dying in 2010</header><text display-inline="yes-display-inline">Notwithstanding subsection (a), in the case of an estate of a decedent dying after December 31, 2009, and before January 1, 2011, the executor (within the meaning of section 2203 of the Internal Revenue Code of 1986) may elect to apply such Code as though the amendments made by subsection (a) do not apply with respect to chapter 11 of such Code and with respect to property acquired or passing from such decedent (within the meaning of section 1014(b) of such Code). Such election shall be made at such time and in such manner as the Secretary of the Treasury or the Secretary's delegate shall provide. Such an election once made shall be revocable only with the consent of the Secretary of the Treasury or the Secretary's delegate. For purposes of section 2652(a)(1) of such Code, the determination of whether any property is subject to the tax imposed by such chapter 11 shall be made without regard to any election made under this subsection.</text></subsection>
<subsection commented="no" display-inline="no-display-inline" id="H07549A0A2D434E62A185EF628DCF9435"><enum>(d)</enum><header>Extension of time for performing certain acts</header>
<paragraph commented="no" display-inline="no-display-inline" id="H44B189DABBE94D8BBF9108E9C3530D5C"><enum>(1)</enum><header>Estate tax</header><text display-inline="yes-display-inline">In the case of the estate of a decedent dying after December 31, 2009, and before the date of the enactment of this Act, the due date for—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="HCE6B9FEB739249F3976DCCEE67A5B388"><enum>(A)</enum><text display-inline="yes-display-inline">filing any return under section 6018 of the Internal Revenue Code of 1986 (including any election required to be made on such a return) as such section is in effect after the date of the enactment of this Act without regard to any election under subsection (c),</text></subparagraph>
<subparagraph commented="no" display-inline="no-display-inline" id="H13AFF3B9B4BF424EA25551800DA50DCB"><enum>(B)</enum><text display-inline="yes-display-inline">making any payment of tax under chapter 11 of such Code, and</text></subparagraph>
<subparagraph commented="no" display-inline="no-display-inline" id="H0696F67EE4A048E9A69B003EF4CDD931"><enum>(C)</enum><text display-inline="yes-display-inline">making any disclaimer described in section 2518(b) of such Code of an interest in property passing by reason of the death of such decedent,</text></subparagraph><continuation-text continuation-text-level="paragraph">shall not be earlier than the date which is 9 months after the date of the enactment of this Act.</continuation-text></paragraph>
<paragraph id="H22A9800346D34F6E93F5A91A182855B1"><enum>(2)</enum><header>Generation-skipping tax</header><text>In the case of any generation-skipping transfer made after December 31, 2009, and before the date of the enactment of this Act, the due date for filing any return under section 2662 of the Internal Revenue Code of 1986 (including any election required to be made on such a return) shall not be earlier than the date which is 9 months after the date of the enactment of this Act.</text></paragraph></subsection>
<subsection id="H42401D2A63BC43F89BF2938B9DD26BE7"><enum>(e)</enum><header>Effective date</header><text>Except as otherwise provided in this section, the amendments made by this section shall apply to estates of decedents dying, and transfers made, after December 31, 2009.</text></subsection></section>
<section commented="no" display-inline="no-display-inline" id="H4BD5BCE0E02943BDA37879FF6B7D605E" section-type="subsequent-section"><enum>302.</enum><header>Modifications to estate, gift, and generation-skipping transfer taxes</header>
<subsection commented="no" display-inline="no-display-inline" id="H573946E24D614A798ED57CF9FC6E97A3"><enum>(a)</enum><header>Modifications to estate tax</header>
<paragraph id="H63A50953D4FF48F69828B7EF893D9C83"><enum>(1)</enum><header>$5,000,000 applicable exclusion amount</header><text>Subsection (c) of section 2010 is amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="H31C257B966494890B3D5224BE70F6168" style="OLC">
<subsection id="H5E62C71ECC9D49AAB6CED0E016C54913"><enum>(c)</enum><header>Applicable credit amount</header>
<paragraph id="H677A141CE3994A99B2AB3A12BB3E167A"><enum>(1)</enum><header>In general</header><text>For purposes of this section, the applicable credit amount is the amount of the tentative tax which would be determined under section 2001(c) if the amount with respect to which such tentative tax is to be computed were equal to the applicable exclusion amount.</text></paragraph>
<paragraph id="HCD152E60A125448DA67EC8733CBB6F7A"><enum>(2)</enum><header>Applicable exclusion amount</header>
<subparagraph id="H3306BECA2C1348AB87488846FD29C458"><enum>(A)</enum><header>In general</header><text>For purposes of this subsection, the applicable exclusion amount is $5,000,000.</text></subparagraph>
<subparagraph commented="no" id="HC08D8A1596AE4C3599E1C3EE5C12F273"><enum>(B)</enum><header>Inflation adjustment</header><text>In the case of any decedent dying in a calendar year after 2011, the dollar amount in subparagraph (A) shall be increased by an amount equal to—</text>
<clause commented="no" id="HF13E9966523E4DC79047410D42AF0A9C"><enum>(i)</enum><text>such dollar amount, multiplied by</text></clause>
<clause commented="no" id="H152A3E53025146CD8B95EDD0BB010060"><enum>(ii)</enum><text>the cost-of-living adjustment determined under section 1(f)(3) for such calendar year by substituting <quote>calendar year 2010</quote> for <quote>calendar year 1992</quote> in subparagraph (B) thereof.</text></clause><continuation-text commented="no" continuation-text-level="subparagraph">If any amount as adjusted under the preceding sentence is not a multiple of $10,000, such amount shall be rounded to the nearest multiple of $10,000.</continuation-text></subparagraph></paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block></paragraph>
<paragraph id="H26B9BB1CD6724B76860A6DB5B6DD8C4F"><enum>(2)</enum><header>Maximum estate tax rate equal to 35 percent</header><text>Subsection (c) of section 2001 is amended—</text>
<subparagraph id="H3A6C7684C88145E286A5042B859F8B14"><enum>(A)</enum><text>by striking <quote>Over $500,000</quote> and all that follows in the table contained in paragraph (1) and inserting the following:</text>
<quoted-block display-inline="no-display-inline" id="HB5BC9B58E7EF41A8A9800B658F569C85" style="OLC">
<table align-to-level="section" blank-lines-before="1" colsep="0" frame="none" line-rules="no-gen" rowsep="0" rule-weights="0.0.0.0.0.0" table-template-name="Generic: 2 text, even cols" table-type="">
<tgroup cols="2" grid-typeface="1.1" rowsep="0" thead-tbody-ldg-size="10.10.12"><colspec coldef="txt" colname="column1" colwidth="163pts" min-data-value="150"/><colspec coldef="txt-no-ldr" colname="column2" colwidth="163pts" min-data-value="150"/>
<tbody>
<row><entry align="left" colname="column1" leader-modify="force-ldr" stub-definition="txt-ldr" stub-hierarchy="1">Over $500,000</entry><entry align="left" colname="column2" leader-modify="clr-ldr">$155,800, plus 35 percent of the excess of such amount over $500,000.</entry></row></tbody></tgroup></table><after-quoted-block>,</after-quoted-block></quoted-block></subparagraph>
<subparagraph id="H1FE81CFC44354CF6A91B03B924CAA9E0"><enum>(B)</enum><text>by striking <quote>(1) <header-in-text level="paragraph" style="USC">In general</header-in-text>.—</quote>, and</text></subparagraph>
<subparagraph id="H8466546C8300482089A1DF72E107571C"><enum>(C)</enum><text>by striking paragraph (2).</text></subparagraph></paragraph></subsection>
<subsection id="H88033523DF954FC2BCC98CA5A1284B90"><enum>(b)</enum><header>Modifications to gift tax</header>
<paragraph id="HD43252B0C60A4AAF94642738BFEC2988"><enum>(1)</enum><header>Restoration of unified credit against gift tax</header>
<subparagraph id="H3A0A2B2FAE2B40D3B76523CA5D1ACBDD"><enum>(A)</enum><header>In general</header><text>Paragraph (1) of section 2505(a), after the application of section 301(b), is amended by striking <quote>(determined as if the applicable exclusion amount were $1,000,000)</quote>.</text></subparagraph>
<subparagraph id="H602C2E7C74074FAC9C618A2D18343DF1"><enum>(B)</enum><header>Effective date</header><text>The amendment made by this paragraph shall apply to gifts made after December 31, 2010.</text></subparagraph></paragraph>
<paragraph id="HC025497BE2C245CB988B2093AB665193"><enum>(2)</enum><header>Modification of gift tax rate</header><text>On and after January 1, 2011, subsection (a) of section 2502 is amended to read as such subsection would read if section 511(d) of the Economic Growth and Tax Relief Reconciliation Act of 2001 had never been enacted.</text></paragraph></subsection>
<subsection commented="no" id="H8CAC08EC58044F228936DA1DF6AD2CDF"><enum>(c)</enum><header>Modification of generation-skipping transfer tax</header><text>In the case of any generation-skipping transfer made after December 31, 2009, and before January 1, 2011, the applicable rate determined under section 2641(a) of the Internal Revenue Code of 1986 shall be zero.</text></subsection>
<subsection id="H0171A9CA9CE142DFA574ADD52A609AA8"><enum>(d)</enum><header>Modifications of estate and gift taxes to reflect differences in credit resulting from different tax rates</header>
<paragraph id="H70EB2AD0676E44C5B59E9BBD5AFEE619"><enum>(1)</enum><header>Estate tax</header>
<subparagraph id="HF9EB54CF912641C0B2ACBB8B2D744D52"><enum>(A)</enum><header>In general</header><text>Section 2001(b)(2) is amended by striking <quote>if the provisions of subsection (c) (as in effect at the decedent's death)</quote> and inserting <quote>if the modifications described in subsection (g)</quote>.</text></subparagraph>
<subparagraph id="H765931F73E49491DABDE482BF29BDAF9"><enum>(B)</enum><header>Modifications</header><text>Section 2001 is amended by adding at the end the following new subsection:</text>
<quoted-block display-inline="no-display-inline" id="HAE78292B4AEA438A8FCB505532606305" style="OLC">
<subsection id="H129C9CB17FDA4D0E917FDABFE74FD2D5"><enum>(g)</enum><header>Modifications to gift tax payable to reflect different tax rates</header><text>For purposes of applying subsection (b)(2) with respect to 1 or more gifts, the rates of tax under subsection (c) in effect at the decedent's death shall, in lieu of the rates of tax in effect at the time of such gifts, be used both to compute—</text>
<paragraph id="HE3A610991EC6456899754AF5C915D568"><enum>(1)</enum><text>the tax imposed by chapter 12 with respect to such gifts, and</text></paragraph>
<paragraph id="HC1C01DD6D25B4505A9034910114B51CA"><enum>(2)</enum><text>the credit allowed against such tax under section 2505, including in computing—</text>
<subparagraph id="HA5C6F1DAC164450F80A39074C17FDD35"><enum>(A)</enum><text>the applicable credit amount under section 2505(a)(1), and</text></subparagraph>
<subparagraph id="H43FE2EF92FA0447BAA7CB03B7A517B0D"><enum>(B)</enum><text>the sum of the amounts allowed as a credit for all preceding periods under section 2505(a)(2).</text></subparagraph></paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block></subparagraph></paragraph>
<paragraph id="H0D965DA9D8EF42B0BF5AA5D23235FD83"><enum>(2)</enum><header>Gift tax</header><text>Section 2505(a) is amended by adding at the end the following new flush sentence:</text>
<quoted-block display-inline="no-display-inline" id="HD816096EA6F64D2D88E1B02D0BAB3528" style="OLC">
<quoted-block-continuation-text quoted-block-continuation-text-level="subsection">For purposes of applying paragraph (2) for any calendar year, the rates of tax in effect under section 2502(a)(2) for such calendar year shall, in lieu of the rates of tax in effect for preceding calendar periods, be used in determining the amounts allowable as a credit under this section for all preceding calendar periods.</quoted-block-continuation-text><after-quoted-block>.</after-quoted-block></quoted-block></paragraph></subsection>
<subsection id="H4B5E2791BEE54DC988430CC905924C35"><enum>(e)</enum><header>Conforming amendment</header><text>Section 2511 is amended by striking subsection (c).</text></subsection>
<subsection id="HB0EB02F59BE3415D99416B82E6F66BD5"><enum>(f)</enum><header>Effective date</header><text>Except as otherwise provided in this subsection, the amendments made by this section shall apply to estates of decedents dying, generation-skipping transfers, and gifts made, after December 31, 2009.</text></subsection></section>
<section id="H81E943364F6549618BA1E1948462B967"><enum>303.</enum><header>Applicable exclusion amount increased by unused exclusion amount of deceased spouse</header>
<subsection id="H826C4333A6A6420DAB52B73363ED7169"><enum>(a)</enum><header>In general</header><text>Section 2010(c), as amended by section 302(a), is amended by striking paragraph (2) and inserting the following new paragraphs:</text>
<quoted-block id="H360F411F69284752BC4FBA66994F322B" style="OLC">
<paragraph id="H573CF8AC9E1D4B9AABBA8D08BB73C7C4"><enum>(2)</enum><header>Applicable exclusion amount</header><text>For purposes of this subsection, the applicable exclusion amount is the sum of—</text>
<subparagraph id="H244B892E9BD14950AEC6770D908DA310"><enum>(A)</enum><text>the basic exclusion amount, and</text></subparagraph>
<subparagraph id="H202D9A7F668B42C2856390CA5381BC02"><enum>(B)</enum><text>in the case of a surviving spouse, the deceased spousal unused exclusion amount.</text></subparagraph></paragraph>
<paragraph display-inline="no-display-inline" id="HFCEFD748FEEB4214813EC13929465241"><enum>(3)</enum><header>Basic exclusion amount</header>
<subparagraph id="HBB26E8A72B73407F825F2D6D3A30D8B6"><enum>(A)</enum><header>In general</header><text>For purposes of this subsection, the basic exclusion amount is $5,000,000.</text></subparagraph>
<subparagraph commented="no" id="HDA02329969B74050BC165EBB10EF875B"><enum>(B)</enum><header>Inflation adjustment</header><text>In the case of any decedent dying in a calendar year after 2011, the dollar amount in subparagraph (A) shall be increased by an amount equal to—</text>
<clause commented="no" id="H935CDF5F9F454001B1124BDB61F9FE6B"><enum>(i)</enum><text>such dollar amount, multiplied by</text></clause>
<clause commented="no" id="HB5458633EFB64E6D9B9B5A463B5FAEB8"><enum>(ii)</enum><text>the cost-of-living adjustment determined under section 1(f)(3) for such calendar year by substituting <quote>calendar year 2010</quote> for <quote>calendar year 1992</quote> in subparagraph (B) thereof.</text></clause><continuation-text commented="no" continuation-text-level="subparagraph">If any amount as adjusted under the preceding sentence is not a multiple of $10,000, such amount shall be rounded to the nearest multiple of $10,000.</continuation-text></subparagraph></paragraph>
<paragraph id="H29645334D43B426B81FC22B58E7BF986"><enum>(4)</enum><header>Deceased spousal unused exclusion amount</header><text>For purposes of this subsection, with respect to a surviving spouse of a deceased spouse dying after December 31, 2010, the term <term>deceased spousal unused exclusion amount</term> means the lesser of—</text>
<subparagraph id="H780BACF861D34BB596D6A630DA31C174"><enum>(A)</enum><text>the basic exclusion amount, or</text></subparagraph>
<subparagraph id="H2E83473AE39F486390752AC32B54D650"><enum>(B)</enum><text>the excess of—</text>
<clause id="HCA3B9CC82DE1493A870237D113ABCE3B"><enum>(i)</enum><text>the basic exclusion amount of the last such deceased spouse of such surviving spouse, over</text></clause>
<clause id="HC3DE835857C144D88FA8E43CBA4C53BA"><enum>(ii)</enum><text>the amount with respect to which the tentative tax is determined under section 2001(b)(1) on the estate of such deceased spouse.</text></clause></subparagraph></paragraph>
<paragraph commented="no" id="H0732FA66E8AD4E9FA2A014C8FB4E3D45"><enum>(5)</enum><header>Special rules</header>
<subparagraph commented="no" id="H7AE041544D024478959A4E204761BEA7"><enum>(A)</enum><header>Election required</header><text>A deceased spousal unused exclusion amount may not be taken into account by a surviving spouse under paragraph (2) unless the executor of the estate of the deceased spouse files an estate tax return on which such amount is computed and makes an election on such return that such amount may be so taken into account. Such election, once made, shall be irrevocable. No election may be made under this subparagraph if such return is filed after the time prescribed by law (including extensions) for filing such return.</text></subparagraph>
<subparagraph commented="no" id="H0134DE28DA814C29BAA023C2AD3353E2"><enum>(B)</enum><header>Examination of prior returns after expiration of period of limitations with respect to deceased spousal unused exclusion amount</header><text>Notwithstanding any period of limitation in section 6501, after the time has expired under section 6501 within which a tax may be assessed under chapter 11 or 12 with respect to a deceased spousal unused exclusion amount, the Secretary may examine a return of the deceased spouse to make determinations with respect to such amount for purposes of carrying out this subsection.</text></subparagraph></paragraph>
<paragraph id="HE0C06EE073BD402890C32128DE43262E"><enum>(6)</enum><header>Regulations</header><text>The Secretary shall prescribe such regulations as may be necessary or appropriate to carry out this subsection.</text></paragraph><after-quoted-block>.</after-quoted-block></quoted-block></subsection>
<subsection id="HE5A2D2F0C820426FAA726F60F47A2B33"><enum>(b)</enum><header>Conforming amendments</header>
<paragraph id="HE8AE1860DB984F12AC1BC9A66E81AA50"><enum>(1)</enum><text>Paragraph (1) of section 2505(a), as amended by section 302(b)(1), is amended to read as follows:</text>
<quoted-block id="HCB631BAC282048078C5A585864EC74BB" style="OLC">
<paragraph id="H0F3725FC9251410D8F6F52F403719E3F"><enum>(1)</enum><text>the applicable credit amount in effect under section 2010(c) which would apply if the donor died as of the end of the calendar year, reduced by</text></paragraph><after-quoted-block>.</after-quoted-block></quoted-block></paragraph>
<paragraph id="HBA61A89AC78946B18D361789BB8FC0B4"><enum>(2)</enum><text>Section 2631(c) is amended by striking <quote>the applicable exclusion amount</quote> and inserting <quote>the basic exclusion amount</quote>.</text></paragraph>
<paragraph id="H61010269917941DFA11E60297513702D"><enum>(3)</enum><text>Section 6018(a)(1) is amended by striking <quote>applicable exclusion amount</quote> and inserting <quote>basic exclusion amount</quote>.</text></paragraph></subsection>
<subsection commented="no" display-inline="no-display-inline" id="H2F2E8952303E4FA59EA765EABD16CEFD"><enum>(c)</enum><header>Effective Dates</header>
<paragraph commented="no" display-inline="no-display-inline" id="HACA3676DCD234ADCABC9002B5FE15086"><enum>(1)</enum><header>In general</header><text>Except as provided in paragraph (2), the amendments made by this section shall apply to estates of decedents dying and gifts made after December 31, 2010.</text></paragraph>
<paragraph commented="no" display-inline="no-display-inline" id="H75E20F4204204D7C908D0334F56A7F37"><enum>(2)</enum><header>Conforming amendment relating to generation-skipping transfers</header><text>The amendment made by subsection (b)(2) shall apply to generation-skipping transfers after December 31, 2010.</text></paragraph></subsection></section>
<section id="H0FA6ED9506C44D37896AC9932BC0AF10"><enum>304.</enum><header>Application of EGTRRA sunset to this title</header><text display-inline="no-display-inline">Section 901 of the Economic Growth and Tax Relief Reconciliation Act of 2001 shall apply to the amendments made by this title.</text></section>
<enum>IV</enum><header>Temporary extension of investment incentives</header>
<section id="HD4C6473454E141CE9FC19968FD1DD8F1"><enum>401.</enum><header>Extension of bonus depreciation; temporary 100 percent expensing for certain business assets</header>
<subsection id="HF3803E84E4B348F2A0109C2CA9BB4A56"><enum>(a)</enum><header>In general</header><text>Paragraph (2) of section 168(k) is amended—</text>
<paragraph id="H3435DA13F8454B42AE875AC68DA92B01"><enum>(1)</enum><text>by striking <quote>January 1, 2012</quote> in subparagraph (A)(iv) and inserting <quote>January 1, 2014</quote>, and</text></paragraph>
<paragraph id="H4241D33DA13042A9BF7D60235EC40602"><enum>(2)</enum><text>by striking <quote>January 1, 2011</quote> each place it appears and inserting <quote>January 1, 2013</quote>.</text></paragraph></subsection>
<subsection id="HB3678626B68B4723A1EB745D86B48463"><enum>(b)</enum><header>Temporary 100 percent expensing</header><text>Subsection (k) of section 168 is amended by adding at the end the following new paragraph:</text>
<quoted-block act-name="" id="H84282BF095F9491885077C0475145B0F" style="OLC">
<paragraph id="H11F7CB7F11334E2AB5F32A8460E83057"><enum>(5)</enum><header>Special rule for property acquired during certain pre-2012 periods</header><text>In the case of qualified property acquired by the taxpayer (under rules similar to the rules of clauses (ii) and (iii) of paragraph (2)(A)) after September 8, 2010, and before January 1, 2012, and which is placed in service by the taxpayer before January 1, 2012 (January 1, 2013, in the case of property described in subparagraph (2)(B) or (2)(C)), paragraph (1)(A) shall be applied by substituting <quote>100 percent</quote> for <quote>50 percent</quote>.</text></paragraph><after-quoted-block>.</after-quoted-block></quoted-block></subsection>
<subsection commented="no" id="H1B65B12DE2404CCD9AE2F8803F54D197"><enum>(c)</enum><header>Extension of election To accelerate the AMT credit in lieu of bonus depreciation</header>
<paragraph commented="no" id="HF758C1368A87411DB562312789DA83AB"><enum>(1)</enum><header>Extension</header><text>Clause (iii) of section 168(k)(4)(D) is amended by striking <quote>or production</quote> and all that follows and inserting “or production—</text>
<quoted-block display-inline="no-display-inline" id="HAA849F6F77EC4E43965B0E09F5CDCF88" style="OLC">
<subclause commented="no" id="H429309A00EAA428DB3CE89A0F1976034"><enum>(I)</enum><text>after March 31, 2008, and before January 1, 2010, and</text></subclause>
<subclause commented="no" id="H7FB9524554104C34B75AD28A24AC7292"><enum>(II)</enum><text>after December 31, 2010, and before January 1, 2013,</text></subclause>
<quoted-block-continuation-text quoted-block-continuation-text-level="clause">shall be taken into account under subparagraph (B)(ii) thereof,</quoted-block-continuation-text><after-quoted-block>.</after-quoted-block></quoted-block></paragraph>
<paragraph commented="no" id="HA117434C20A84074836448091E95F3A4"><enum>(2)</enum><header>Rules for round 2 extension property</header><text>Paragraph (4) of section 168(k) is amended by adding at the end the following new subparagraph:</text>
<quoted-block display-inline="no-display-inline" id="H6A439860A45041D585ADF0A048E423FF" style="OLC">
<subparagraph commented="no" id="HAABAAA45D8EB4060B7A2B2C11A2BFB0C"><enum>(I)</enum><header>Special rules for round 2 extension property</header>
<clause commented="no" id="H8F548D4B525C45CF830B59C07EC4457E"><enum>(i)</enum><header>In general</header><text>In the case of round 2 extension property, this paragraph shall be applied without regard to—</text>
<subclause commented="no" id="H8E0B8AFCF8114A9BAD0DCC065A8F61A8"><enum>(I)</enum><text>the limitation described in subparagraph (B)(i) thereof, and</text></subclause>
<subclause commented="no" id="HD27D8BB993474757A5E4BB8DB5943A69"><enum>(II)</enum><text>the business credit increase amount under subparagraph (E)(iii) thereof.</text></subclause></clause>
<clause commented="no" id="H5F214AB36E48441290A585E7C25E6F3C"><enum>(ii)</enum><header>Taxpayers previously electing acceleration</header><text>In the case of a taxpayer who made the election under subparagraph (A) for its first taxable year ending after March 31, 2008, or a taxpayer who made the election under subparagraph (H)(ii) for its first taxable year ending after December 31, 2008—</text>
<subclause commented="no" id="HC737F1FD49E8464EB604B18BBC65E6DB"><enum>(I)</enum><text>the taxpayer may elect not to have this paragraph apply to round 2 extension property, but</text></subclause>
<subclause commented="no" id="H920258E224E74CBCA2FECCB00FF11B33"><enum>(II)</enum><text>if the taxpayer does not make the election under subclause (I), in applying this paragraph to the taxpayer the bonus depreciation amount, maximum amount, and maximum increase amount shall be computed and applied to eligible qualified property which is round 2 extension property.</text></subclause><continuation-text commented="no" continuation-text-level="clause">The amounts described in subclause (II) shall be computed separately from any amounts computed with respect to eligible qualified property which is not round 2 extension property.</continuation-text></clause>
<clause commented="no" id="HCA68AF8E3F8A472A950641A1EDF1A750"><enum>(iii)</enum><header>Taxpayers not previously electing acceleration</header><text>In the case of a taxpayer who neither made the election under subparagraph (A) for its first taxable year ending after March 31, 2008, nor made the election under subparagraph (H)(ii) for its first taxable year ending after December 31, 2008—</text>
<subclause commented="no" id="H525424A395134C66A0DC65CA47F4C8E1"><enum>(I)</enum><text>the taxpayer may elect to have this paragraph apply to its first taxable year ending after December 31, 2010, and each subsequent taxable year, and</text></subclause>
<subclause commented="no" id="HA06E206B679B45649246B66109569CCC"><enum>(II)</enum><text>if the taxpayer makes the election under subclause (I), this paragraph shall only apply to eligible qualified property which is round 2 extension property.</text></subclause></clause>
<clause commented="no" id="H6541F9A16D8C47408FC15549B517687C"><enum>(iv)</enum><header>Round 2 extension property</header><text>For purposes of this subparagraph, the term <term>round 2 extension property</term> means property which is eligible qualified property solely by reason of the extension of the application of the special allowance under paragraph (1) pursuant to the amendments made by section 401(a) of the <short-title>Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010</short-title> (and the application of such extension to this paragraph pursuant to the amendment made by section 401(c)(1) of such Act).</text></clause></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block></paragraph></subsection>
<subsection id="H1870DAAC841E498991893EB17F1454DA"><enum>(d)</enum><header>Conforming amendments</header>
<paragraph id="H1B5C884624FD4C929FA8F3F755BD9D52"><enum>(1)</enum><text>The heading for subsection (k) of section 168 is amended by striking <quote><header-in-text level="subsection" style="OLC">January 1, 2011</header-in-text></quote> and inserting <quote><header-in-text level="subsection" style="OLC">January 1, 2013</header-in-text></quote>.</text></paragraph>
<paragraph id="H277B74A7F4FF4542B1157A2C1CD61434"><enum>(2)</enum><text>The heading for clause (ii) of section 168(k)(2)(B) is amended by striking <quote><header-in-text level="clause" style="OLC">pre-January 1, 2011</header-in-text></quote> and inserting <quote><header-in-text level="clause" style="OLC">pre-January 1, 2013</header-in-text></quote>.</text></paragraph>
<paragraph id="H04FA24F1FA7A4F4893B4F5473AA18F21"><enum>(3)</enum><text>Subparagraph (D) of section 168(k)(4) is amended—</text>
<subparagraph id="H35BDF3AF402841FF8702C44550F6F022"><enum>(A)</enum><text>by striking clauses (iv) and (v),</text></subparagraph>
<subparagraph id="H0A0017D1E8254BF399B19764DD90552F"><enum>(B)</enum><text>by inserting <quote>and</quote> at the end of clause (ii), and</text></subparagraph>
<subparagraph id="H15C4E14CE4874B119BF2268C86CD6D7D"><enum>(C)</enum><text>by striking the comma at the end of clause (iii) and inserting a period.</text></subparagraph></paragraph>
<paragraph id="HA53CE43B6E1C47699BF48E434AE460C6"><enum>(4)</enum><text>Paragraph (5) of section 168(l) is amended—</text>
<subparagraph id="H61803E0E47304FE483903796C28A7DE0"><enum>(A)</enum><text>by inserting <quote>and</quote> at the end of subparagraph (A),</text></subparagraph>
<subparagraph id="H3F708DFACA1444ADBDEC171DC8D550C2"><enum>(B)</enum><text>by striking subparagraph (B), and</text></subparagraph>
<subparagraph id="H7D616B8601F3493492158AE19EC30595"><enum>(C)</enum><text>by redesignating subparagraph (C) as subparagraph (B).</text></subparagraph></paragraph>
<paragraph id="H6C4C14465B2A438C87DFC9F09E4D8DF6"><enum>(5)</enum><text>Subparagraph (C) of section 168(n)(2) is amended by striking <quote>January 1, 2011</quote> and inserting <quote>January 1, 2013</quote>.</text></paragraph>
<paragraph id="H6E0D5561290743C1A199798B98562495"><enum>(6)</enum><text>Subparagraph (D) of section 1400L(b)(2) is amended by striking <quote>January 1, 2011</quote> and inserting <quote>January 1, 2013</quote>.</text></paragraph>
<paragraph commented="no" display-inline="no-display-inline" id="H6FBAA080000446E998ACEAC28F7BAD01"><enum>(7)</enum><text>Subparagraph (B) of section 1400N(d)(3) is amended by striking <quote>January 1, 2011</quote> and inserting <quote>January 1, 2013</quote>.</text></paragraph></subsection>
<subsection commented="no" display-inline="no-display-inline" id="HDDA49039567D4CC4B13545CA9823738C"><enum>(e)</enum><header>Effective dates</header>
<paragraph commented="no" display-inline="no-display-inline" id="H960F58E5E646485D9F0F5301D493C950"><enum>(1)</enum><header>In general</header><text>Except as provided in paragraph (2), the amendments made by this section shall apply to property placed in service after December 31, 2010, in taxable years ending after such date.</text></paragraph>
<paragraph commented="no" display-inline="no-display-inline" id="H0AAF09C035424B0D97D30306415B29EF"><enum>(2)</enum><header>Temporary 100 percent expensing</header><text>The amendment made by subsection (b) shall apply to property placed in service after September 8, 2010, in taxable years ending after such date.</text></paragraph></subsection></section>
<section commented="no" id="H8E823E4E33604A48A3A82F85A3AB1180"><enum>402.</enum><header>Temporary extension of increased small business expensing</header>
<subsection commented="no" id="HB4757D7700C241749A90F2A1D118F51C"><enum>(a)</enum><header>Dollar limitation</header><text>Section 179(b)(1) is amended by striking <quote>and</quote> at the end of subparagraph (B) and by striking subparagraph (C) and inserting the following new subparagraphs:</text>
<quoted-block display-inline="no-display-inline" id="HA956311A9A69405B86E1357F4C3B5A2A" style="OLC">
<subparagraph commented="no" id="H651FFAD11085481DACED83A0924F181F"><enum>(C)</enum><text>$125,000 in the case of taxable years beginning in 2012, and</text></subparagraph>
<subparagraph commented="no" id="H932DA196BFA742ECAECFB2524E5ECE6C"><enum>(D)</enum><text>$25,000 in the case of taxable years beginning after 2012.</text></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block></subsection>
<subsection commented="no" id="HE26CCA9942E049249A1D4CC0004013FF"><enum>(b)</enum><header>Reduction in limitation</header><text>Section 179(b)(2) is amended by striking <quote>and</quote> at the end of subparagraph (B) and by striking subparagraph (C) and inserting the following new subparagraphs:</text>
<quoted-block display-inline="no-display-inline" id="H3A6E756039C24C3BB14D61DFD72EFCA7" style="OLC">
<subparagraph commented="no" id="HB45778B9C1A74E69B8795EC19287472C"><enum>(C)</enum><text>$500,000 in the case of taxable years beginning in 2012, and</text></subparagraph>
<subparagraph commented="no" id="H24E2670FE5B04B6D8F43072155084081"><enum>(D)</enum><text>$200,000 in the case of taxable years beginning after 2012.</text></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block></subsection>
<subsection commented="no" id="H5862B5CB73CC4E028F19CFEE4963B092"><enum>(c)</enum><header>Inflation adjustment</header><text>Subsection (b) of section 179 is amended by adding at the end the following new paragraph:</text>
<quoted-block display-inline="no-display-inline" id="H0DA46254E02E4AA4A3BCD22A39F5FDA5" style="OLC">
<paragraph commented="no" id="H95D98678185F44C38DA27BBCB3B48FE9"><enum>(6)</enum><header>Inflation adjustment</header>
<subparagraph commented="no" id="H995AE637358C4060B886A65D025C2042"><enum>(A)</enum><header>In general</header><text>In the case of any taxable year beginning in calendar year 2012, the $125,000 and $500,000 amounts in paragraphs (1)(C) and (2)(C) shall each be increased by an amount equal to—</text>
<clause commented="no" id="H4D0A2BE3DD4D4A5785B41DE2858E7DB2"><enum>(i)</enum><text>such dollar amount, multiplied by</text></clause>
<clause commented="no" id="H146166494B344A58B609FB05F1BDF998"><enum>(ii)</enum><text>the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, by substituting <quote>calendar year 2006</quote> for <quote>calendar year 1992</quote> in subparagraph (B) thereof.</text></clause></subparagraph>
<subparagraph commented="no" id="H8096D57B80434E2B87F81217ECB3BB4D"><enum>(B)</enum><header>Rounding</header>
<clause commented="no" id="HA5D7FC6BDFC14EF1971DB9C3CC182B7A"><enum>(i)</enum><header>Dollar limitation</header><text>If the amount in paragraph (1) as increased under subparagraph (A) is not a multiple of $1,000, such amount shall be rounded to the nearest multiple of $1,000.</text></clause>
<clause commented="no" id="H19A1CCEF8C6D44B3AD11EBE367E75133"><enum>(ii)</enum><header>Phaseout amount</header><text>If the amount in paragraph (2) as increased under subparagraph (A) is not a multiple of $10,000, such amount shall be rounded to the nearest multiple of $10,000.</text></clause></subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block></subsection>
<subsection commented="no" id="H4D6A058FEBB84B65ADE691304AF16812"><enum>(d)</enum><header>Computer software</header><text>Section 179(d)(1)(A)(ii) is amended by striking <quote>2012</quote> and inserting <quote>2013</quote>.</text></subsection>
<subsection commented="no" id="H5B0F9DB74031495D89FDA8FD440BFA83"><enum>(e)</enum><header>Conforming amendment</header><text>Section 179(c)(2) is amended by striking <quote>2012</quote> and inserting <quote>2013</quote>.</text></subsection>
<subsection commented="no" id="H3426C807BABC4372A833864957AA65C0"><enum>(f)</enum><header>Effective date</header><text>The amendments made by this section shall apply to taxable years beginning after December 31, 2011.</text></subsection></section>
<enum>V</enum><header>Temporary extension of unemployment insurance and related matters</header>
<section display-inline="no-display-inline" id="H0F9FC4321BDF405E90AF08BF02C0D7F2" section-type="subsequent-section"><enum>501.</enum><header>Temporary extension of unemployment insurance provisions</header>
<subsection display-inline="no-display-inline" id="H1B76E73993A9468DB4B72F3A37B15DB5"><enum>(a)</enum><header>In general</header>
<paragraph commented="no" display-inline="yes-display-inline" id="HE336E288440B434DB3624DC7CBF6DC06"><enum>(1)</enum><text>Section 4007 of the Supplemental Appropriations Act, 2008 (Public Law 110–252; 26 U.S.C. 3304 note) is amended—</text>
<subparagraph id="H4F3C75E1AB2640BFA603ACAE6C07DFBE" indent="up1"><enum>(A)</enum><text>by striking <quote>November 30, 2010</quote> each place it appears and inserting <quote>January 3, 2012</quote>;</text></subparagraph>
<subparagraph display-inline="no-display-inline" id="H791DE9D0397A49BD9461E878553700F0" indent="up1"><enum>(B)</enum><text display-inline="yes-display-inline">in the heading for subsection (b)(2), by striking <quote><header-in-text level="paragraph" style="OLC">november 30, 2010</header-in-text></quote> and inserting <quote><header-in-text level="paragraph" style="OLC">january 3, 2012</header-in-text></quote>; and</text></subparagraph>
<subparagraph id="H03A2C83FFA4F462A87DC5642D6660809" indent="up1"><enum>(C)</enum><text>in subsection (b)(3), by striking <quote>April 30, 2011</quote> and inserting <quote>June 9, 2012</quote>.</text></subparagraph></paragraph>
<paragraph id="HA786F2413BE54C8C910EA633A7D3F03D" indent="up1"><enum>(2)</enum><text>Section 2005 of the Assistance for Unemployed Workers and Struggling Families Act, as contained in Public Law 111–5 (26 U.S.C. 3304 note; 123 Stat. 444), is amended—</text>
<subparagraph id="H4B993B79E5784D11AFD5BE69FA048265"><enum>(A)</enum><text>by striking <quote>December 1, 2010</quote> each place it appears and inserting <quote>January 4, 2012</quote>; and</text></subparagraph>
<subparagraph id="H6E2BC13616F3419FA7E4D8883680350A"><enum>(B)</enum><text>in subsection (c), by striking <quote>May 1, 2011</quote> and inserting <quote>June 11, 2012</quote>.</text></subparagraph></paragraph>
<paragraph id="HA9BAEC4E4B9F416CBB786C003A33E241" indent="up1"><enum>(3)</enum><text>Section 5 of the Unemployment Compensation Extension Act of 2008 (Public Law 110–449; 26 U.S.C. 3304 note) is amended by striking <quote>April 30, 2011</quote> and inserting <quote>June 10, 2012</quote>.</text></paragraph></subsection>
<subsection id="H1A005FDD79464A58B4E650F485D10403"><enum>(b)</enum><header>Funding</header><text>Section 4004(e)(1) of the Supplemental Appropriations Act, 2008 (Public Law 110–252; 26 U.S.C. 3304 note) is amended—</text>
<paragraph id="H1702D6EBB55D4700A843A2AE8C490648"><enum>(1)</enum><text display-inline="yes-display-inline">in subparagraph (E), by striking <quote>and</quote> at the end; and</text></paragraph>
<paragraph id="H0DF6E650E267413A8F37727EE11EA5F5"><enum>(2)</enum><text>by inserting after subparagraph (F) the following:</text>
<quoted-block display-inline="no-display-inline" id="HE5CAECA2B91940049CD77B0302B3EF55" style="OLC">
<subparagraph commented="no" display-inline="no-display-inline" id="HDFE00D3DEF544ABD96C26A3CD90EA9A3"><enum>(G)</enum><text>the amendments made by section 501(a)(1) of the <short-title>Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010</short-title>; and</text></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block></paragraph></subsection>
<subsection commented="no" display-inline="no-display-inline" id="H0D983B89FBD5471685B18F4477590903"><enum>(c)</enum><header>Effective date</header><text>The amendments made by this section shall take effect as if included in the enactment of the Unemployment Compensation Extension Act of 2010 (Public Law 111–205).</text></subsection></section>
<section id="HA117E4A5D81543D3A1C0CF19EE4EB846"><enum>502.</enum><header>Temporary modification of indicators under the extended benefit program</header>
<subsection id="HFFFD15DCF19C43FFA6C3FD973D64B994"><enum>(a)</enum><header>Indicator</header><text>Section 203(d) of the Federal-State Extended Unemployment Compensation Act of 1970 (26 U.S.C. 3304 note) is amended, in the flush matter following paragraph (2), by inserting after the first sentence the following sentence: <quote>Effective with respect to compensation for weeks of unemployment beginning after the date of enactment of the <short-title>Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010</short-title> (or, if later, the date established pursuant to State law), and ending on or before December 31, 2011, the State may by law provide that the determination of whether there has been a state <quote>on</quote> or <quote>off</quote> indicator beginning or ending any extended benefit period shall be made under this subsection as if the word <quote>two</quote> were <quote>three</quote> in subparagraph (1)(A).</quote>.</text></subsection>
<subsection id="H8934099A85534A019807533D6EE7F16C"><enum>(b)</enum><header>Alternative trigger</header><text>Section 203(f) of the Federal-State Extended Unemployment Compensation Act of 1970 (26 U.S.C. 3304 note) is amended—</text>
<paragraph id="H9CCAC6F3BC5B4699A86E0D9ECD9BC1CB"><enum>(1)</enum><text>by redesignating paragraph (2) as paragraph (3); and</text></paragraph>
<paragraph id="H120643ABB3F4430C87D4C32FF6BCE1B9"><enum>(2)</enum><text>by inserting after paragraph (1) the following new paragraph:</text>
<quoted-block display-inline="no-display-inline" id="H7EFD1C0BD58F4A1197395E961D8BA88F" style="OLC">
<paragraph id="HC82EFB97B7B842E2B8F2DF298F95F32C" indent="up1"><enum>(2)</enum><text>Effective with respect to compensation for weeks of unemployment beginning after the date of enactment of the <short-title>Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010</short-title> (or, if later, the date established pursuant to State law), and ending on or before December 31, 2011, the State may by law provide that the determination of whether there has been a state <quote>on</quote> or <quote>off</quote> indicator beginning or ending any extended benefit period shall be made under this subsection as if the word <quote>either</quote> were <quote>any</quote>, the word <quote>both</quote> were <quote>all</quote>, and the figure <quote>2</quote> were <quote>3</quote> in clause (1)(A)(ii).</text></paragraph><after-quoted-block>.</after-quoted-block></quoted-block></paragraph></subsection></section>
<section id="HA26C406DAEB84847B6E6A330B0C5EFC2"><enum>503.</enum><header>Technical amendment relating to collection of unemployment compensation debts</header>
<subsection id="H5BD73A1D385E41CF9E0B786518730867"><enum>(a)</enum><header>In general</header><text>Section 6402(f)(3)(C), as amended by section 801 of the Claims Resolution Act of 2010, is amended by striking <quote>is not a covered unemployment compensation debt</quote> and inserting <quote>is a covered unemployment compensation debt</quote>.</text></subsection>
<subsection id="H69FF3E26478144088D779923A7AF8790"><enum>(b)</enum><header>Effective date</header><text>The amendment made by subsection (a) shall take effect as if included in section 801 of the Claims Resolution Act of 2010.</text></subsection></section>
<section id="H412CEE322B054718A8A017A0B69B6A88"><enum>504.</enum><header>Technical correction relating to repeal of continued dumping and subsidy offset</header>
<subsection id="H4AA4B72F7CAB4821B9BA1F4DE3EB1996"><enum>(a)</enum><header>In general</header><text display-inline="yes-display-inline">Section 822(2)(A) of the Claims Resolution Act of 2010 is amended by striking <quote>or</quote> and inserting <quote>and</quote>.</text></subsection>
<subsection id="H83AD742A04264690B55E5E212FB9B4C9"><enum>(b)</enum><header>Effective date</header><text>The amendment made by subsection (a) shall take effect as if included in the provisions of the Claims Resolution Act of 2010.</text></subsection></section>
<section display-inline="no-display-inline" id="H03BAF7D3478D4F16A03419F1CC08FB79" section-type="subsequent-section"><enum>505.</enum><header>Additional extended unemployment benefits under the Railroad Unemployment Insurance Act</header>
<subsection id="HD57EC1F71DFA40588F3C04288F18268F"><enum>(a)</enum><header>Extension</header><text>Section 2(c)(2)(D)(iii) of the Railroad Unemployment Insurance Act, as added by section 2006 of the American Recovery and Reinvestment Act of 2009 (Public Law 111–5) and as amended by section 9 of the Worker, Homeownership, and Business Assistance Act of 2009 (Public Law 111–92), is amended—</text>
<paragraph id="H7AF2F90D36DB4E2986CCD347CCEF663C"><enum>(1)</enum><text>by striking <quote>June 30, 2010</quote> and inserting <quote>June 30, 2011</quote>; and</text></paragraph>
<paragraph id="HADE1D6E1D8E24E2A91AEDDDA404C8E99"><enum>(2)</enum><text>by striking <quote>December 31, 2010</quote> and inserting <quote>December 31, 2011</quote>.</text></paragraph></subsection>
<subsection id="H15B50B4B003A469ABB0A1723C00AF931"><enum>(b)</enum><header>Clarification on authority To use funds</header><text>Funds appropriated under either the first or second sentence of clause (iv) of section 2(c)(2)(D) of the Railroad Unemployment Insurance Act shall be available to cover the cost of additional extended unemployment benefits provided under such section 2(c)(2)(D) by reason of the amendments made by subsection (a) as well as to cover the cost of such benefits provided under such section 2(c)(2)(D), as in effect on the day before the date of the enactment of this Act.</text></subsection></section>
<enum>VI</enum><header>Temporary employee payroll tax cut</header>
<section id="H40AA01932CCD4822BE14E6F6EAABFB4E"><enum>601.</enum><header>Temporary employee payroll tax cut</header>
<subsection id="H9560D8692F374890B8A9643CE0DF7568"><enum>(a)</enum><header>In general</header><text>Notwithstanding any other provision of law—</text>
<paragraph id="HC71477CAA67F4CA183F2945A6B1D55D7"><enum>(1)</enum><text>with respect to any taxable year which begins in the payroll tax holiday period, the rate of tax under section 1401(a) of the Internal Revenue Code of 1986 shall be 10.40 percent, and</text></paragraph>
<paragraph id="H7CFA22A44B7B438BA27F5DCF9FF353A5"><enum>(2)</enum><text>with respect to remuneration received during the payroll tax holiday period, the rate of tax under 3101(a) of such Code shall be 4.2 percent (including for purposes of determining the applicable percentage under sections 3201(a) and 3211(a)(1) of such Code).</text></paragraph></subsection>
<subsection id="H5B4427E31F444C4AA90F3EE6275488A8"><enum>(b)</enum><header>Coordination with deductions for employment taxes</header>
<paragraph id="H7D599ACC2284446FAA3C7CF617C789AF"><enum>(1)</enum><header>Deduction in computing net earnings from self-employment</header><text>For purposes of applying section 1402(a)(12) of the Internal Revenue Code of 1986, the rate of tax imposed by subsection 1401(a) of such Code shall be determined without regard to the reduction in such rate under this section.</text></paragraph>
<paragraph id="H99B6FBA0AE3E42C1ADF56C2C181753D3"><enum>(2)</enum><header>Individual deduction</header><text>In the case of the taxes imposed by section 1401 of such Code for any taxable year which begins in the payroll tax holiday period, the deduction under section 164(f) with respect to such taxes shall be equal to the sum of—</text>
<subparagraph id="H43E0DF24C5744A78A5599CD64CDC18CB"><enum>(A)</enum><text>59.6 percent of the portion of such taxes attributable to the tax imposed by section 1401(a) (determined after the application of this section), plus</text></subparagraph>
<subparagraph id="H7643578BCCA044BBBF07748286374FAE"><enum>(B)</enum><text>one-half of the portion of such taxes attributable to the tax imposed by section 1401(b).</text></subparagraph></paragraph></subsection>
<subsection id="H1EB1418E830C41BE952DD7ABF1CCE605"><enum>(c)</enum><header>Payroll tax holiday period</header><text>The term <term>payroll tax holiday period</term> means calendar year 2011.</text></subsection>
<subsection id="H883A70DD2AF348E49559E4835B0600F1"><enum>(d)</enum><header>Employer notification</header><text>The Secretary of the Treasury shall notify employers of the payroll tax holiday period in any manner the Secretary deems appropriate.</text></subsection>
<subsection id="HBE877F9DDD7640D5B3D89350EB09062D"><enum>(e)</enum><header>Transfers of funds</header>
<paragraph id="H407D2E04DBC74FBD8B89F06571C58C5B"><enum>(1)</enum><header>Transfers to Federal Old-Age and Survivors Insurance Trust Fund</header><text>There are hereby appropriated to the Federal Old-Age and Survivors Trust Fund and the Federal Disability Insurance Trust Fund established under section 201 of the Social Security Act (42 U.S.C. 401) amounts equal to the reduction in revenues to the Treasury by reason of the application of subsection (a). Amounts appropriated by the preceding sentence shall be transferred from the general fund at such times and in such manner as to replicate to the extent possible the transfers which would have occurred to such Trust Fund had such amendments not been enacted.</text></paragraph>
<paragraph id="H0E0373F0339749C3801E1BF527E02950"><enum>(2)</enum><header>Transfers to social security equivalent benefit account</header><text display-inline="yes-display-inline">There are hereby appropriated to the Social Security Equivalent Benefit Account established under section 15A(a) of the Railroad Retirement Act of 1974 (45 U.S.C. 231n–1(a)) amounts equal to the reduction in revenues to the Treasury by reason of the application of subsection (a)(2). Amounts appropriated by the preceding sentence shall be transferred from the general fund at such times and in such manner as to replicate to the extent possible the transfers which would have occurred to such Account had such amendments not been enacted.</text></paragraph>
<paragraph id="HC4AD31014336497DB4E58EE5CCF106D8"><enum>(3)</enum><header>Coordination with other Federal laws</header><text>For purposes of applying any provision of Federal law other than the provisions of the Internal Revenue Code of 1986, the rate of tax in effect under section 3101(a) of such Code shall be determined without regard to the reduction in such rate under this section.</text></paragraph></subsection></section>
<enum>VII</enum><header>Temporary extension of certain expiring provisions</header>
<subtitle id="H8876162135364DDFBEA1B26E5C6562FA"><enum>A</enum><header>Energy</header>
<section id="H8511418996304829B4B2C90F954F166D"><enum>701.</enum><header>Incentives for biodiesel and renewable diesel</header>
<subsection id="HA41F5ED79828446597D21E952C0B6C8D"><enum>(a)</enum><header>Credits for biodiesel and renewable diesel used as fuel</header><text>Subsection (g) of section 40A is amended by striking <quote>December 31, 2009</quote> and inserting <quote>December 31, 2011</quote>.</text></subsection>
<subsection id="H61605888AABB4288865130155C372B55"><enum>(b)</enum><header>Excise tax credits and outlay payments for biodiesel and renewable diesel fuel mixtures</header>
<paragraph id="HC9508C5FC93D45FAACBDA0A2EC3AEB3D"><enum>(1)</enum><text>Paragraph (6) of section 6426(c) is amended by striking <quote>December 31, 2009</quote> and inserting <quote>December 31, 2011</quote>.</text></paragraph>
<paragraph id="HC97EC6E6F73A407E9883C0CA830FD843"><enum>(2)</enum><text>Subparagraph (B) of section 6427(e)(6) is amended by striking <quote>December 31, 2009</quote> and inserting <quote>December 31, 2011</quote>.</text></paragraph></subsection>
<subsection id="H4034CC258E304F5FA9BFE9D02085EB25"><enum>(c)</enum><header>Special rule for 2010</header><text>Notwithstanding any other provision of law, in the case of any biodiesel mixture credit properly determined under section 6426(c) of the Internal Revenue Code of 1986 for periods during 2010, such credit shall be allowed, and any refund or payment attributable to such credit (including any payment under section 6427(e) of such Code) shall be made, only in such manner as the Secretary of the Treasury (or the Secretary's delegate) shall provide. Such Secretary shall issue guidance within 30 days after the date of the enactment of this Act providing for a one-time submission of claims covering periods during 2010. Such guidance shall provide for a 180-day period for the submission of such claims (in such manner as prescribed by such Secretary) to begin not later than 30 days after such guidance is issued. Such claims shall be paid by such Secretary not later than 60 days after receipt. If such Secretary has not paid pursuant to a claim filed under this subsection within 60 days after the date of the filing of such claim, the claim shall be paid with interest from such date determined by using the overpayment rate and method under section 6621 of such Code.</text></subsection>
<subsection commented="no" display-inline="no-display-inline" id="H79C2377B7295495BAE17C1461125877C"><enum>(d)</enum><header>Effective date</header><text>The amendments made by this section shall apply to fuel sold or used after December 31, 2009.</text></subsection></section>
<section id="HD4E7B29339AF4D6C9B5DF1709A9E1E6D"><enum>702.</enum><header>Credit for refined coal facilities</header>
<subsection id="HA286987E1896405FB213BE0CC9B77B24"><enum>(a)</enum><header>In general</header><text>Subparagraph (B) of section 45(d)(8) is amended by striking <quote>January 1, 2010</quote> and inserting <quote>January 1, 2012</quote>.</text></subsection>
<subsection commented="no" display-inline="no-display-inline" id="H747F4D3CFB974A12B89633215F1BEFE9"><enum>(b)</enum><header>Effective date</header><text>The amendment made by this section shall apply to facilities placed in service after December 31, 2009.</text></subsection></section>
<section id="H4A48A0C44E5E41609D07FA36A56D0A29"><enum>703.</enum><header>New energy efficient home credit</header>
<subsection id="HEA76AE66D9A8466CB010BB0ADA1AF3D1"><enum>(a)</enum><header>In general</header><text>Subsection (g) of section 45L is amended by striking <quote>December 31, 2009</quote> and inserting <quote>December 31, 2011</quote>.</text></subsection>
<subsection commented="no" display-inline="no-display-inline" id="H4F5C62A25D9F4BB48950015E2FDD8DE0"><enum>(b)</enum><header>Effective date</header><text>The amendment made by this section shall apply to homes acquired after December 31, 2009.</text></subsection></section>
<section id="H8AA206EC69484B2D8D2013DB41FB9E8B"><enum>704.</enum><header>Excise tax credits and outlay payments for alternative fuel and alternative fuel mixtures</header>
<subsection id="H2F86EF86E873480A8F4FE09305BCC9D6"><enum>(a)</enum><header>In general</header><text>Sections 6426(d)(5), 6426(e)(3), and 6427(e)(6)(C) are each amended by striking <quote>December 31, 2009</quote> and inserting <quote>December 31, 2011</quote>.</text></subsection>
<subsection display-inline="no-display-inline" id="HE164970ACB33469FBA1F197D6E7D9FB5"><enum>(b)</enum><header>Exclusion of black liquor from credit eligibility</header><text display-inline="yes-display-inline">The last sentence of section 6426(d)(2) is amended by striking <quote>or biodiesel</quote> and inserting <quote>biodiesel, or any fuel (including lignin, wood residues, or spent pulping liquors) derived from the production of paper or pulp</quote>.</text></subsection>
<subsection id="H442920B17D5D4951B5C7F8268E428D2C"><enum>(c)</enum><header>Special rule for 2010</header><text>Notwithstanding any other provision of law, in the case of any alternative fuel credit or any alternative fuel mixture credit properly determined under subsection (d) or (e) of section 6426 of the Internal Revenue Code of 1986 for periods during 2010, such credit shall be allowed, and any refund or payment attributable to such credit (including any payment under section 6427(e) of such Code) shall be made, only in such manner as the Secretary of the Treasury (or the Secretary's delegate) shall provide. Such Secretary shall issue guidance within 30 days after the date of the enactment of this Act providing for a one-time submission of claims covering periods during 2010. Such guidance shall provide for a 180-day period for the submission of such claims (in such manner as prescribed by such Secretary) to begin not later than 30 days after such guidance is issued. Such claims shall be paid by such Secretary not later than 60 days after receipt. If such Secretary has not paid pursuant to a claim filed under this subsection within 60 days after the date of the filing of such claim, the claim shall be paid with interest from such date determined by using the overpayment rate and method under section 6621 of such Code.</text></subsection>
<subsection id="H0D7E062B3FC745A4A2323D445B87A4B0"><enum>(d)</enum><header>Effective date</header><text>The amendments made by this section shall apply to fuel sold or used after December 31, 2009.</text></subsection></section>
<section id="HB60D3CB2998A40D0B0F931C1DE8B53B1"><enum>705.</enum><header>Special rule for sales or dispositions to implement FERC or State electric restructuring policy for qualified electric utilities</header>
<subsection id="HEB0BCFE268294F76809EAF678D0D4429"><enum>(a)</enum><header>In general</header><text>Paragraph (3) of section 451(i) is amended by striking <quote>January 1, 2010</quote> and inserting <quote>January 1, 2012</quote>.</text></subsection>
<subsection commented="no" display-inline="no-display-inline" id="H4C6E805B012647A6831C99A6D7FA2BD8"><enum>(b)</enum><header>Effective date</header><text>The amendment made by this section shall apply to dispositions after December 31, 2009.</text></subsection></section>
<section id="HFDF25A6771BA4CDCBB1F03CF64BBCCE0"><enum>706.</enum><header>Suspension of limitation on percentage depletion for oil and gas from marginal wells</header>
<subsection id="HCF5B94E115E8470ABDE87BCE94493791"><enum>(a)</enum><header>In general</header><text>Clause (ii) of section 613A(c)(6)(H) is amended by striking <quote>January 1, 2010</quote> and inserting <quote>January 1, 2012</quote>.</text></subsection>
<subsection commented="no" display-inline="no-display-inline" id="HED815373259A4955B78128F6A4373F52"><enum>(b)</enum><header>Effective date</header><text>The amendment made by this section shall apply to taxable years beginning after December 31, 2009.</text></subsection></section>
<section commented="no" display-inline="no-display-inline" id="H8D1088184AAB4BC8A462675A9C0EAD48" section-type="subsequent-section"><enum>707.</enum><header>Extension of grants for specified energy property in lieu of tax credits</header>
<subsection id="HAE434B09F0F840C581156B7A29CCA47D"><enum>(a)</enum><header>In general</header><text>Subsection (a) of section 1603 of division B of the American Recovery and Reinvestment Act of 2009 is amended—</text>
<paragraph id="H9337950FBB63435D948ED1FB7AB409C6"><enum>(1)</enum><text>in paragraph (1), by striking <quote>2009 or 2010</quote> and inserting <quote>2009, 2010, or 2011</quote>, and</text></paragraph>
<paragraph id="H6AE9765EF0B04432ADE4D73BA60A3221"><enum>(2)</enum><text>in paragraph (2)—</text>
<subparagraph id="H59DDD1E2A63A4C0C967E8BDBA79D3E2B"><enum>(A)</enum><text>by striking <quote>after 2010</quote> and inserting <quote>after 2011</quote>, and</text></subparagraph>
<subparagraph id="H07AAEE2B018E49B2A25B1C5C048352D8"><enum>(B)</enum><text>by striking <quote>2009 or 2010</quote> and inserting <quote>2009, 2010, or 2011</quote>.</text></subparagraph></paragraph></subsection>
<subsection id="H5CDD386032A54F5C961ABA10CB5D53D9"><enum>(b)</enum><header>Conforming amendment</header><text>Subsection (j) of section 1603 of division B of such Act is amended by striking <quote>2011</quote> and inserting <quote>2012</quote>.</text></subsection></section>
<section id="H861C862D1A824CDFA845CCA34DA1B8E5" section-type="subsequent-section"><enum>708.</enum><header>Extension of provisions related to alcohol used as fuel</header>
<subsection id="H2F1F5D52ADC9437981D1A879764E19DC"><enum>(a)</enum><header>Extension of income tax credit for alcohol used as fuel</header>
<paragraph id="H49B0AA58C04845F4A92544262AF85BCC"><enum>(1)</enum><header>In general</header><text display-inline="yes-display-inline">Paragraph (1) of section 40(e) is amended—</text>
<subparagraph id="H8BAC5CB9D0D1456C8128AA1617722F6C"><enum>(A)</enum><text>by striking <quote>December 31, 2010</quote> in subparagraph (A) and inserting <quote>December 31, 2011</quote>, and</text></subparagraph>
<subparagraph id="HDA9C1CC6161D4DD6AB5B5C7D38A4FB78"><enum>(B)</enum><text>by striking <quote>January 1, 2011</quote> in subparagraph (B) and inserting <quote>January 1, 2012</quote>.</text></subparagraph></paragraph>
<paragraph id="H605278B68CE2456398036A0A7E5C8E34"><enum>(2)</enum><header>Reduced amount for ethanol blenders</header><text>Subsection (h) of section 40 is amended by striking <quote>2010</quote> both places it appears and inserting <quote>2011</quote>.</text></paragraph>
<paragraph id="H47D096EE914142FEA7A0911F58F14A38"><enum>(3)</enum><header>Effective date</header><text>The amendments made by this subsection shall apply to periods after December 31, 2010.</text></paragraph></subsection>
<subsection id="H2AC88BF69F314E8F9970A1E87BDF75DB"><enum>(b)</enum><header>Extension of excise tax credit for alcohol used as fuel</header>
<paragraph id="HB9F2947F51124AF7BFD6A20CDD390253"><enum>(1)</enum><header>In general</header><text>Paragraph (6) of section 6426(b) is amended by striking <quote>December 31, 2010</quote> and inserting <quote>December 31, 2011</quote>.</text></paragraph>
<paragraph id="H0E28D4F8B59C493A9E331EA24F1F90DD"><enum>(2)</enum><header>Effective date</header><text>The amendment made by this subsection shall apply to periods after December 31, 2010.</text></paragraph></subsection>
<subsection id="HB64227BDE63347D7B7A1BDC79070E118"><enum>(c)</enum><header>Extension of payment for alcohol fuel mixture</header>
<paragraph id="HC0C45DD36C3A43B990123C479E6B15D0"><enum>(1)</enum><header>In general</header><text>Subparagraph (A) of section 6427(e)(6) is amended by striking <quote>December 31, 2010</quote> and inserting <quote>December 31, 2011</quote>.</text></paragraph>
<paragraph id="H34DAED87889047BDB330C34E165DC641"><enum>(2)</enum><header>Effective date</header><text>The amendment made by this subsection shall apply to sales and uses after December 31, 2010.</text></paragraph></subsection>
<subsection commented="no" display-inline="no-display-inline" id="H967D0A5C46D846699EDE425AAEE6C961"><enum>(d)</enum><header>Extension of additional duties on ethanol</header>
<paragraph commented="no" display-inline="no-display-inline" id="H056F21EB0D674E6A859A593783313C14"><enum>(1)</enum><header>In general</header><text display-inline="yes-display-inline">Headings 9901.00.50 and 9901.00.52 of the Harmonized Tariff Schedule of the United States are each amended in the effective period column by striking <quote>1/1/2011</quote> and inserting <quote>1/1/2012</quote>.</text></paragraph>
<paragraph id="H952E0B1C028A49A1B5C31A375E460E54"><enum>(2)</enum><header>Effective date</header><text>The amendments made by this subsection shall take effect on January 1, 2011.</text></paragraph></subsection></section>
<section commented="no" display-inline="no-display-inline" id="H8522D675C4F543198E351F67C3090DE7" section-type="subsequent-section"><enum>709.</enum><header>Energy efficient appliance credit</header>
<subsection commented="no" id="H1F3123F17844442BABD28CF789ED79E3"><enum>(a)</enum><header>Dishwashers</header><text>Paragraph (1) of section 45M(b) is amended by striking <quote>and</quote> at the end of subparagraph (A), by striking the period at the end of subparagraph (B) and inserting a comma, and by adding at the end the following new subparagraphs:</text>
<quoted-block display-inline="no-display-inline" id="H3C1378F940A246018CDAEDEFBAB30721" style="OLC">
<subparagraph commented="no" id="HBDA32B85457D41F79C06FB754F9A241C"><enum>(C)</enum><text display-inline="yes-display-inline">$25 in the case of a dishwasher which is manufactured in calendar year 2011 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>
<subparagraph commented="no" id="H30877DBC1CCE47E5B79A54485D7F9573"><enum>(D)</enum><text display-inline="yes-display-inline">$50 in the case of a dishwasher which is manufactured in calendar year 2011 and which uses no more than 295 kilowatt hours per year and 4.25 gallons per cycle (4.75 gallons per cycle for dishwashers designed for greater than 12 place settings), and</text></subparagraph>
<subparagraph commented="no" id="H479B591807D045EA9598512E93500CA4"><enum>(E)</enum><text display-inline="yes-display-inline">$75 in the case of a dishwasher which is manufactured in calendar year 2011 and which uses no more than 280 kilowatt hours per year and 4 gallons per cycle (4.5 gallons per cycle for dishwashers designed for greater than 12 place settings).</text></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block></subsection>
<subsection commented="no" id="HDC1341F9D8354405819EDE7C57442E42"><enum>(b)</enum><header>Clothes washers</header><text>Paragraph (2) of section 45M(b) is amended by striking <quote>and</quote> at the end of subparagraph (C), by striking the period at the end of subparagraph (D) and inserting a comma, and by adding at the end the following new subparagraphs:</text>
<quoted-block display-inline="no-display-inline" id="HCAE0BB42C2A547498D51B348CE9A3FE7" style="OLC">
<subparagraph commented="no" id="H7CA5D193AF4F49A6A4720287DAD847CA"><enum>(E)</enum><text display-inline="yes-display-inline">$175 in the case of a top-loading clothes washer manufactured in calendar year 2011 which meets or exceeds a 2.2 modified energy factor and does not exceed a 4.5 water consumption factor, and</text></subparagraph>
<subparagraph commented="no" id="HFAC1DDC7843540FCA2D6468F1F7DDE74"><enum>(F)</enum><text>$225 in the case of a clothes washer manufactured in calendar year 2011—</text>
<clause commented="no" id="H030A4770DDF84E449BC81F7687E8939D"><enum>(i)</enum><text display-inline="yes-display-inline">which is a top-loading clothes washer and which meets or exceeds a 2.4 modified energy factor and does not exceed a 4.2 water consumption factor, or</text></clause>
<clause commented="no" id="HE2B6C459DEEF405183ECD901A7665280"><enum>(ii)</enum><text display-inline="yes-display-inline">which is a front-loading clothes washer and which meets or exceeds a 2.8 modified energy factor and does not exceed a 3.5 water consumption factor.</text></clause></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block></subsection>
<subsection commented="no" id="H17408D7BE0FA45E3A3277469DCA4D280"><enum>(c)</enum><header>Refrigerators</header><text>Paragraph (3) of section 45M(b) is amended by striking <quote>and</quote> at the end of subparagraph (C), by striking the period at the end of subparagraph (D) and inserting a comma, and by adding at the end the following new subparagraphs:</text>
<quoted-block display-inline="no-display-inline" id="H2E7D85F416964806B9138DD8B6F174C5" style="OLC">
<subparagraph commented="no" id="HC045DBB830954605A3EAA3EFDEBFA45D"><enum>(E)</enum><text display-inline="yes-display-inline">$150 in the case of a refrigerator manufactured in calendar year 2011 which consumes at least 30 percent less energy than the 2001 energy conservation standards, and</text></subparagraph>
<subparagraph commented="no" id="HD9F397B2876743ADA8CBB0C8CC9F3A76"><enum>(F)</enum><text display-inline="yes-display-inline">$200 in the case of a refrigerator manufactured in calendar year 2011 which consumes at least 35 percent less energy than the 2001 energy conservation standards.</text></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block></subsection>
<subsection commented="no" id="H74E35C196D264774BD756E73E1649E15"><enum>(d)</enum><header>Rebasing of limitations</header>
<paragraph commented="no" id="H3EA77F77B8FA42C8812764A942C63221"><enum>(1)</enum><header>In general</header><text display-inline="yes-display-inline">Paragraph (1) of section 45M(e) is amended—</text>
<subparagraph commented="no" id="H1363D3C4032D481CAB2D8D8FA1256581"><enum>(A)</enum><text display-inline="yes-display-inline">by striking <quote>$75,000,000</quote> and inserting <quote>$25,000,000</quote>, and</text></subparagraph>
<subparagraph commented="no" id="H1D50C6F9A0F1448BAC811E92F35AD8CA"><enum>(B)</enum><text display-inline="yes-display-inline">by striking <quote>December 31, 2007</quote> and inserting <quote>December 31, 2010</quote>.</text></subparagraph></paragraph>
<paragraph commented="no" id="H8FAD15EA4CEC4ED4944AF07D4FB12B57"><enum>(2)</enum><header>Exception for certain refrigerators and clothes washers</header><text>Paragraph (2) of section 45M(e) is amended—</text>
<subparagraph commented="no" id="HC875C4A821F44F3F83C92ACF73C31AF7"><enum>(A)</enum><text>by striking <quote>subsection (b)(3)(D)</quote> and inserting <quote>subsection (b)(3)(F)</quote>, and</text></subparagraph>
<subparagraph commented="no" id="H2825FBE1388F4654926854ECF6066ABE"><enum>(B)</enum><text>by striking <quote>subsection (b)(2)(D)</quote> and inserting <quote>subsection (b)(2)(F)</quote>.</text></subparagraph></paragraph>
<paragraph commented="no" id="H5F3F01C679DE4592A2287C8B44379DAF"><enum>(3)</enum><header>Gross receipts limitation</header><text>Paragraph (3) of section 45M(e) is amended by striking <quote>2 percent</quote> and inserting <quote>4 percent</quote>.</text></paragraph></subsection>
<subsection commented="no" id="H29DF50F0655646F3A19779C2E2434C00"><enum>(e)</enum><header>Effective dates</header>
<paragraph commented="no" id="HFBB1E449BA9A4DA1958A31EDF2515278"><enum>(1)</enum><header>In general</header><text display-inline="yes-display-inline">The amendments made by subsections (a), (b), and (c) shall apply to appliances produced after December 31, 2010.</text></paragraph>
<paragraph commented="no" display-inline="no-display-inline" id="HAB78E1DB28B34AAF9E6B52859FDD4555"><enum>(2)</enum><header>Limitations</header><text>The amendments made by subsection (d) shall apply to taxable years beginning after December 31, 2010.</text></paragraph></subsection></section>
<section display-inline="no-display-inline" id="H052EEFB7EACF440CB708EB687E801775" section-type="subsequent-section"><enum>710.</enum><header>Credit for nonbusiness energy property</header>
<subsection display-inline="no-display-inline" id="HA49EC7D4A6AA4C5BA57E75E9C830634E"><enum>(a)</enum><header>Extension</header><text>Section 25C(g)(2) is amended by striking <quote>2010</quote> and inserting <quote>2011</quote>.</text></subsection>
<subsection display-inline="no-display-inline" id="H6988CC086573434DA2A686AE7D7879C9"><enum>(b)</enum><header>Return to pre-ARRA limitations and standards</header>
<paragraph display-inline="no-display-inline" id="H35FE57144C68482C88CCDF748BCF6BEF"><enum>(1)</enum><header>In general</header><text>Subsections (a) and (b) of section 25C are amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="H4958209AA8E14B67B0D66746C2FD4E2E" style="OLC">
<subsection id="HE7842764B7BA4B66A516C56DA1139356"><enum>(a)</enum><header>Allowance of credit</header><text>In the case of an individual, there shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to the sum of—</text>
<paragraph id="HA0971CF6C2F64C43933995D2FC21E77C"><enum>(1)</enum><text>10 percent of the amount paid or incurred by the taxpayer for qualified energy efficiency improvements installed during such taxable year, and</text></paragraph>
<paragraph id="HC93711DBF77840B6A31B71067B2B3B45"><enum>(2)</enum><text>the amount of the residential energy property expenditures paid or incurred by the taxpayer during such taxable year.</text></paragraph></subsection>
<subsection id="H00FE3ACF233F48CE80FBA494540ED121"><enum>(b)</enum><header>Limitations</header>
<paragraph id="HDE6AC7FDF6534F7F8154F7B7F21BB21E"><enum>(1)</enum><header>Lifetime limitation</header><text>The credit allowed under this section with respect to any taxpayer for any taxable year shall not exceed the excess (if any) of $500 over the aggregate credits allowed under this section with respect to such taxpayer for all prior taxable years ending after December 31, 2005.</text></paragraph>
<paragraph id="H32E8C63BEE8945D89E94B1801A04AC59"><enum>(2)</enum><header>Windows</header><text>In the case of amounts paid or incurred for components described in subsection (c)(2)(B) by any taxpayer for any taxable year, the credit allowed under this section with respect to such amounts for such year shall not exceed the excess (if any) of $200 over the aggregate credits allowed under this section with respect to such amounts for all prior taxable years ending after December 31, 2005.</text></paragraph>
<paragraph id="H7D4875C24D804B7EAAFC227CF10A3210"><enum>(3)</enum><header>Limitation on residential energy property expenditures</header><text>The amount of the credit allowed under this section by reason of subsection (a)(2) shall not exceed—</text>
<subparagraph id="HA0068EE529D14B10B22F953B31E5E8E6"><enum>(A)</enum><text>$50 for any advanced main air circulating fan,</text></subparagraph>
<subparagraph id="HABAF45C7A5184E04B45532800094CF82"><enum>(B)</enum><text>$150 for any qualified natural gas, propane, or oil furnace or hot water boiler, and</text></subparagraph>
<subparagraph id="H2476CC563D044AEA8CF3D61C5594A9A2"><enum>(C)</enum><text>$300 for any item of energy-efficient building property.</text></subparagraph></paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block></paragraph>
<paragraph display-inline="no-display-inline" id="H2155B2864E0B4A8C929ED5A0C8E4B48C"><enum>(2)</enum><header>Modification of standards</header>
<subparagraph display-inline="no-display-inline" id="HB47A6BB4B1A94AD58F336DF35F780229"><enum>(A)</enum><header>In general</header><text>Paragraph (1) of section 25C(c) is amended by striking <quote>2000</quote> and all that follows through <quote>this section</quote> and inserting <quote>2009 International Energy Conservation Code, as such Code (including supplements) is in effect on the date of the enactment of the American Recovery and Reinvestment Tax Act of 2009</quote>.</text></subparagraph>
<subparagraph display-inline="no-display-inline" id="HCE826CE1E0E941FB8C80F55286E0DC11"><enum>(B)</enum><header>Wood stoves</header><text>Subparagraph (E) of section 25C(d)(3) is amended by striking <quote>, as measured using a lower heating value</quote>.</text></subparagraph>
<subparagraph display-inline="no-display-inline" id="H935DC48275554DE09A9A3EDFC2EBF4A7"><enum>(C)</enum><header> Oil furnaces and hot water boilers</header>
<clause display-inline="no-display-inline" id="HBC2780B2C91D4A1BA76B7069CCC5BFC2"><enum>(i)</enum><header>In general</header><text>Paragraph (4) of section 25C(d) is amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="H0086423A5CFC40888D1440F17B8CA426" style="OLC">
<paragraph id="H1769833DA7824D8C99EF363B4A1317AF"><enum>(4)</enum><header>Qualified natural gas, propane, or oil furnace or hot water boiler</header><text>The term <quote>qualified natural gas, propane, or oil furnace or hot water boiler</quote> means a natural gas, propane, or oil furnace or hot water boiler which achieves an annual fuel utilization efficiency rate of not less than 95.</text></paragraph><after-quoted-block>.</after-quoted-block></quoted-block></clause>
<clause display-inline="no-display-inline" id="H84E52FA3F55841C29400A6A29D1D2F30"><enum>(ii)</enum><header>Conforming amendment</header><text>Clause (ii) of section 25C(d)(2)(A) is amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="H7134F1973F7D485FB6C9FEB0A28D54A4" style="OLC">
<clause id="HAC7758A26F1840D89C048579A598FB88"><enum>(ii)</enum><text>a qualified natural gas, propane, or oil furnace or hot water boiler, or</text></clause><after-quoted-block>.</after-quoted-block></quoted-block></clause></subparagraph>
<subparagraph display-inline="no-display-inline" id="HADE6F45E55BB479FAA3E5464E7C61DCB"><enum>(D)</enum><header>Exterior windows, doors, and skylights</header>
<clause display-inline="no-display-inline" id="H8474058C28E247578D09FFA0236A1255"><enum>(i)</enum><header>In general</header><text>Subsection (c) of section 25C is amended by striking paragraph (4).</text></clause>
<clause display-inline="no-display-inline" id="H6BD54FAF9D68483FBB9D5DD5CF68019A"><enum>(ii)</enum><header>Application of energy star standards</header><text>Paragraph (1) of section 25C(c) is amended by inserting <quote>an exterior window, a skylight, an exterior door,</quote> after <quote>in the case of</quote> in the matter preceding subparagraph (A).</text></clause></subparagraph>
<subparagraph display-inline="no-display-inline" id="HFE66265D91D44A9CB2BDC866CED89AF9"><enum>(E)</enum><header>Insulation</header><text>Subparagraph (A) of section 25C(c)(2) is amended by striking <quote>and meets the prescriptive criteria for such material or system established by the 2009 International Energy Conservation Code, as such Code (including supplements) is in effect on the date of the enactment of the American Recovery and Reinvestment Tax Act of 2009</quote>.</text></subparagraph></paragraph>
<paragraph display-inline="no-display-inline" id="H4ECAA2277D5E43B89DA0E71A66CF714B"><enum>(3)</enum><header>Subsidized energy financing</header><text>Subsection (e) of section 25C is amended by adding at the end the following new paragraph:</text>
<quoted-block display-inline="no-display-inline" id="H08B4169B45514AEDAF833A5C372EB9B4" style="OLC">
<paragraph display-inline="no-display-inline" id="H69295464CE6B4542815AFCC15988470F"><enum>(3)</enum><header>Property financed by subsidized energy financing</header><text>For purposes of determining the amount of expenditures made by any individual with respect to any property, there shall not be taken into account expenditures which are made from subsidized energy financing (as defined in section 48(a)(4)(C)).</text></paragraph><after-quoted-block>.</after-quoted-block></quoted-block></paragraph></subsection>
<subsection commented="no" display-inline="no-display-inline" id="H037C4386DE8746B59209EFC0429ACB5E"><enum>(c)</enum><header>Effective date</header><text>The amendments made by this section shall apply to property placed in service after December 31, 2010.</text></subsection></section>
<section commented="no" display-inline="no-display-inline" id="H7242C321EA464B76BCACAF21C15169C4"><enum>711.</enum><header>Alternative fuel vehicle refueling property</header>
<subsection commented="no" id="H8A2633CDD70D4D7E80E14C09C92CAB56"><enum>(a)</enum><header>Extension of credit</header><text>Paragraph (2) of section 30C(g) is amended by striking <quote>December 31, 2010</quote> and inserting <quote>December 31, 2011.</quote>.</text></subsection>
<subsection commented="no" display-inline="no-display-inline" id="HF5624B2EB3734BB39808E3B29E72E4DA"><enum>(b)</enum><header>Effective date</header><text>The amendment made by this section shall apply to property placed in service after December 31, 2010.</text></subsection></section></subtitle>
<subtitle id="H280AB25D113048309808B81111C43957"><enum>B</enum><header>Individual tax relief</header>
<section id="H1980535280424BE4A862C782D055E75B"><enum>721.</enum><header>Deduction for certain expenses of elementary and secondary school teachers</header>
<subsection id="H5A775B4422224F519826A1BBA949B20C"><enum>(a)</enum><header>In general</header><text>Subparagraph (D) of section 62(a)(2) is amended by striking <quote>or 2009</quote> and inserting <quote>2009, 2010, or 2011</quote>.</text></subsection>
<subsection id="HA8EFB88A2E57446BABE5A0E11F580C7B"><enum>(b)</enum><header>Effective date</header><text>The amendment made by this section shall apply to taxable years beginning after December 31, 2009.</text></subsection></section>
<section id="HCE7C5E13FC59466392ED9B5AB34D8D56"><enum>722.</enum><header>Deduction of State and local sales taxes</header>
<subsection id="H08A27B9F8DC746739A9B332287D38386"><enum>(a)</enum><header>In general</header><text>Subparagraph (I) of section 164(b)(5) is amended by striking <quote>January 1, 2010</quote> and inserting <quote>January 1, 2012</quote>.</text></subsection>
<subsection id="H035FF25038A44F0CAFD6D7EDAF2E5C88"><enum>(b)</enum><header>Effective date</header><text>The amendment made by this section shall apply to taxable years beginning after December 31, 2009.</text></subsection></section>
<section id="H5FFF89E7902D4568BB56A3680FD72DD5"><enum>723.</enum><header>Contributions of capital gain real property made for conservation purposes</header>
<subsection id="HF47E9B7F125246B2B9D4147CF992EC32"><enum>(a)</enum><header>In general</header><text>Clause (vi) of section 170(b)(1)(E) is amended by striking <quote>December 31, 2009</quote> and inserting <quote>December 31, 2011</quote>.</text></subsection>
<subsection id="H513C2DE2EE4E404296876982192B5798"><enum>(b)</enum><header>Contributions by certain corporate farmers and ranchers</header><text>Clause (iii) of section 170(b)(2)(B) is amended by striking <quote>December 31, 2009</quote> and inserting <quote>December 31, 2011</quote>.</text></subsection>
<subsection id="HB6498F26D6294BFA93C4FE52743661EB"><enum>(c)</enum><header>Effective date</header><text>The amendments made by this section shall apply to contributions made in taxable years beginning after December 31, 2009.</text></subsection></section>
<section commented="no" display-inline="no-display-inline" id="H6E8224F3EAA2423E8DC0037801CB14F6"><enum>724.</enum><header>Above-the-line deduction for qualified tuition and related expenses</header>
<subsection id="H4D1D932F7E144B6DA6AF44B3910CA52F"><enum>(a)</enum><header>In general</header><text>Subsection (e) of section 222 is amended by striking <quote>December 31, 2009</quote> and inserting <quote>December 31, 2011</quote>.</text></subsection>
<subsection commented="no" display-inline="no-display-inline" id="HA6AAEEEB8BB24B09AFB02CF7D90A79DA"><enum>(b)</enum><header>Effective date</header><text>The amendment made by this section shall apply to taxable years beginning after December 31, 2009.</text></subsection></section>
<section id="H2DC259F267AE417A85450ECA6AC63CAF"><enum>725.</enum><header>Tax-free distributions from individual retirement plans for charitable purposes</header>
<subsection id="H752725B6A36E4D64A08EDF3BF5EDD1F4"><enum>(a)</enum><header>In general</header><text>Subparagraph (F) of section 408(d)(8) is amended by striking <quote>December 31, 2009</quote> and inserting <quote>December 31, 2011</quote>.</text></subsection>
<subsection commented="no" display-inline="no-display-inline" id="HC4BD99C120A5412C85B40B299308624C"><enum>(b)</enum><header>Effective date; special rule</header>
<paragraph commented="no" display-inline="no-display-inline" id="H321784EA460C4ACBAC5A7C5F6F8CBE8B"><enum>(1)</enum><header>Effective date</header><text>The amendment made by this section shall apply to distributions made in taxable years beginning after December 31, 2009.</text></paragraph>
<paragraph commented="no" display-inline="no-display-inline" id="H026370C9ED314121914D8433D60F1B2B"><enum>(2)</enum><header>Special rule</header><text>For purposes of subsections (a)(6), (b)(3), and (d)(8) of section 408 of the Internal Revenue Code of 1986, at the election of the taxpayer (at such time and in such manner as prescribed by the Secretary of the Treasury) any qualified charitable distribution made after December 31, 2010, and before February 1, 2011, shall be deemed to have been made on December 31, 2010.</text></paragraph></subsection></section>
<section id="H4A7FFC1A05464760AC6A966C997810B8"><enum>726.</enum><header>Look-thru of certain regulated investment company stock in determining gross estate of nonresidents</header>
<subsection id="HA8FACF553498435DBF1E10F8A2507C64"><enum>(a)</enum><header>In general</header><text>Paragraph (3) of section 2105(d) is amended by striking <quote>December 31, 2009</quote> and inserting <quote>December 31, 2011</quote>.</text></subsection>
<subsection commented="no" display-inline="no-display-inline" id="H630AE27F8AAF4044BE7402BD86AA80B8"><enum>(b)</enum><header>Effective date</header><text>The amendment made by this section shall apply to estates of decedents dying after December 31, 2009.</text></subsection></section>
<section id="H051BBC3439A04B5F9E7AD9B4E7D3D1FB"><enum>727.</enum><header>Parity for exclusion from income for employer-provided mass transit and parking benefits</header>
<subsection id="H97877EA5023545DAA7F7E9A498CB646A"><enum>(a)</enum><header>In general</header><text>Paragraph (2) of section 132(f) is amended by striking <quote>January 1, 2011</quote> and inserting <quote>January 1, 2012</quote>.</text></subsection>
<subsection id="H2179C931DD754DE3838A599E9A49B784"><enum>(b)</enum><header>Effective date</header><text>The amendment made by this section shall apply to months after December 31, 2010.</text></subsection></section>
<section commented="no" id="HC681DBD822F8451F81412E8857CAFFB5"><enum>728.</enum><header>Refunds disregarded in the administration of Federal programs and federally assisted programs</header>
<subsection commented="no" id="H1FCAF42209D04AE68B61E6DFBE132073"><enum>(a)</enum><header>In general</header><text>Subchapter A of chapter 65 is amended by adding at the end the following new section:</text>
<quoted-block display-inline="no-display-inline" id="H937D88F95DD84F12936B74AF5DA7ED9A" style="OLC">
<section commented="no" id="HD8890E2530F44D63911164950452920A"><enum>6409.</enum><header>Refunds disregarded in the administration of Federal programs and federally assisted programs</header>
<subsection commented="no" id="H0C9DF45D4A144F8F817F9EA63D1D34D9"><enum>(a)</enum><header>In general</header><text display-inline="yes-display-inline">Notwithstanding any other provision of law, any refund (or advance payment with respect to a refundable credit) made to any individual under this title shall not be taken into account as income, and shall not be taken into account as resources for a period of 12 months from receipt, for purposes of determining the eligibility of such individual (or any other individual) for benefits or assistance (or the amount or extent of benefits or assistance) under any Federal program or under any State or local program financed in whole or in part with Federal funds.</text></subsection>
<subsection commented="no" id="HC14E16B1C780400891D098DBF9D5B656"><enum>(b)</enum><header>Termination</header><text display-inline="yes-display-inline">Subsection (a) shall not apply to any amount received after December 31, 2012.</text></subsection></section><after-quoted-block>.</after-quoted-block></quoted-block></subsection>
<subsection commented="no" id="H93ED13A7241D443DBBD5226B176E366A"><enum>(b)</enum><header>Clerical amendment</header><text>The table of sections for such subchapter is amended by adding at the end the following new item:</text>
<quoted-block display-inline="no-display-inline" id="H94C0459373D34662BBB24DDA104994DF" style="OLC">
<toc>
<toc-entry bold="off" level="section">Sec. 6409. Refunds disregarded in the administration of Federal programs and federally assisted programs.</toc-entry></toc><after-quoted-block>.</after-quoted-block></quoted-block></subsection>
<subsection commented="no" id="HFD75219C1D5042C4AF2E702E957CBEE3"><enum>(c)</enum><header>Effective date</header><text>The amendments made by this section shall apply to amounts received after December 31, 2009.</text></subsection></section></subtitle>
<subtitle id="H68391D42968947D6BF7D7A905771A9E2"><enum>C</enum><header>Business tax relief</header>
<section id="H549C2823E036479DADF2A7B16F542E14"><enum>731.</enum><header>Research credit</header>
<subsection id="H876F12B3BF1347708F7953D7A7627DD5"><enum>(a)</enum><header>In general</header><text>Subparagraph (B) of section 41(h)(1) is amended by striking <quote>December 31, 2009</quote> and inserting <quote>December 31, 2011</quote>.</text></subsection>
<subsection id="HDD1F6A2E275A4A5C919ABF22CCF617A0"><enum>(b)</enum><header>Conforming amendment</header><text>Subparagraph (D) of section 45C(b)(1) is amended by striking <quote>December 31, 2009</quote> and inserting <quote>December 31, 2011</quote>.</text></subsection>
<subsection id="HA89076B71663498CAEE5CABFFFAA3DFF"><enum>(c)</enum><header>Effective date</header><text>The amendments made by this section shall apply to amounts paid or incurred after December 31, 2009.</text></subsection></section>
<section id="HA8CE6365AF74453E97BE5393EB0D1B09"><enum>732.</enum><header>Indian employment tax credit</header>
<subsection id="H817C15896A74459EA26CD95ECB5F45CE"><enum>(a)</enum><header>In general</header><text>Subsection (f) of section 45A is amended by striking <quote>December 31, 2009</quote> and inserting <quote>December 31, 2011</quote>.</text></subsection>
<subsection id="H942514DFF11E4D7AB60631799CABC682"><enum>(b)</enum><header>Effective date</header><text>The amendment made by this section shall apply to taxable years beginning after December 31, 2009.</text></subsection></section>
<section commented="no" id="H3D26C9D133174311B7A21A20F84E690D"><enum>733.</enum><header>New markets tax credit</header>
<subsection commented="no" id="H703BA23D12B64A96829A022E92BEB037"><enum>(a)</enum><header>In general</header><text>Paragraph (1) of section 45D(f) is amended—</text>
<paragraph commented="no" id="H34F5B5837D814CA390E627C977073A7A"><enum>(1)</enum><text>by striking <quote>and</quote> at the end of subparagraph (E),</text></paragraph>
<paragraph commented="no" id="H346B87C93BFA4958B5658EAA1EBC917E"><enum>(2)</enum><text>by striking the period at the end of subparagraph (F), and</text></paragraph>
<paragraph commented="no" id="HF2A6171A55D14833919D6AF639777B0A"><enum>(3)</enum><text>by adding at the end the following new subparagraph:</text>
<quoted-block display-inline="no-display-inline" id="H557A643D47564CB8A51D0076EA04C9D5" style="OLC">
<subparagraph commented="no" id="H0778FA217C8D4928AB2611ECD5C51021"><enum>(G)</enum><text>$3,500,000,000 for 2010 and 2011.</text></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block></paragraph></subsection>
<subsection commented="no" id="HED5099F0DCB14D24B0576C43241AB6CF"><enum>(b)</enum><header>Conforming amendment</header><text>Paragraph (3) of section 45D(f) is amended by striking <quote>2014</quote> and inserting <quote>2016</quote>.</text></subsection>
<subsection commented="no" id="H297F4614A7954E05B44184D8CE5914B8"><enum>(c)</enum><header>Effective date</header><text>The amendments made by this section shall apply to calendar years beginning after 2009.</text></subsection></section>
<section id="H510F1993ECB44B4BB1E744FA2AAAB169"><enum>734.</enum><header>Railroad track maintenance credit</header>
<subsection id="HF8C10E3724E042E0B74544FE48C7AE92"><enum>(a)</enum><header>In general</header><text>Subsection (f) of section 45G is amended by striking <quote>January 1, 2010</quote> and inserting <quote>January 1, 2012</quote>.</text></subsection>
<subsection id="HE787BF6B5EF24ACE8FDE5BBF23767035"><enum>(b)</enum><header>Effective date</header><text>The amendment made by this section shall apply to expenditures paid or incurred in taxable years beginning after December 31, 2009.</text></subsection></section>
<section id="H3DCD2B8784C44F809117D169DC7D9B23"><enum>735.</enum><header>Mine rescue team training credit</header>
<subsection id="H6A5A9BD6CD1A45569A9F1C864A2C18E3"><enum>(a)</enum><header>In general</header><text>Subsection (e) of section 45N is amended by striking <quote>December 31, 2009</quote> and inserting <quote>December 31, 2011</quote>.</text></subsection>
<subsection id="H45215982EBAF4630BD56F2FFB7ED902D"><enum>(b)</enum><header>Effective date</header><text>The amendment made by this section shall apply to taxable years beginning after December 31, 2009.</text></subsection></section>
<section id="H29AD6AD71FA4402A98D3F9279DFE8462"><enum>736.</enum><header>Employer wage credit for employees who are active duty members of the uniformed services</header>
<subsection id="H46569973FA9A4846B9F9A34BB74E29B1"><enum>(a)</enum><header>In general</header><text>Subsection (f) of section 45P is amended by striking <quote>December 31, 2009</quote> and inserting <quote>December 31, 2011</quote>.</text></subsection>
<subsection commented="no" display-inline="no-display-inline" id="HE5C9D6BCD6E04C37A6EEBB1E9756F004"><enum>(b)</enum><header>Effective date</header><text>The amendment made by this section shall apply to payments made after December 31, 2009.</text></subsection></section>
<section id="H7BF1D7B3F44C48C1AF0E2438C9FB21AC"><enum>737.</enum><header>15-year straight-line cost recovery for qualified leasehold improvements, qualified restaurant buildings and improvements, and qualified retail improvements</header>
<subsection id="H331D32B265E343759A44297A1ACF2861"><enum>(a)</enum><header>In general</header><text>Clauses (iv), (v), and (ix) of section 168(e)(3)(E) are each amended by striking <quote>January 1, 2010</quote> and inserting <quote>January 1, 2012</quote>.</text></subsection>
<subsection id="H7882D7FBC99F4A9EA261B546BA4AEDE0"><enum>(b)</enum><header>Conforming amendments</header>
<paragraph id="HA885D72CC0D24D12BAA44EBBE94644A0"><enum>(1)</enum><text>Clause (i) of section 168(e)(7)(A) is amended by striking <quote>if such building is placed in service after December 31, 2008, and before January 1, 2010,</quote>.</text></paragraph>
<paragraph id="HF885407AC1404926996EF3B5084FBB96"><enum>(2)</enum><text>Paragraph (8) of section 168(e) is amended by striking subparagraph (E).</text></paragraph>
<paragraph id="HBB9C7AD6384B4FD6AFD01AB501E7A0A8"><enum>(3)</enum><text>Section 179(f)(2) is amended—</text>
<subparagraph id="HDF3A94CF38E44706B464A6451E5C4E55"><enum>(A)</enum><text>by striking <quote>(without regard to the dates specified in subparagraph (A)(i) thereof)</quote> in subparagraph (B), and</text></subparagraph>
<subparagraph id="H5FC5BE1DCAA842CCA618A8054E1F26DD"><enum>(B)</enum><text>by striking <quote>(without regard to subparagraph (E) thereof)</quote> in subparagraph (C).</text></subparagraph></paragraph></subsection>
<subsection id="H081B025C49AB4CB490C7E878621BE9FC"><enum>(c)</enum><header>Effective date</header><text>The amendments made by this section shall apply to property placed in service after December 31, 2009.</text></subsection></section>
<section id="HBC137F8FEA094E09B29FD5689F995EF8"><enum>738.</enum><header>7-year recovery period for motorsports entertainment complexes</header>
<subsection id="H51093E93439E4A34B51F73B944ADB4EF"><enum>(a)</enum><header>In general</header><text>Subparagraph (D) of section 168(i)(15) is amended by striking <quote>December 31, 2009</quote> and inserting <quote>December 31, 2011</quote>.</text></subsection>
<subsection id="H11CADDA694E14C7BB7CB2175BDF8D371"><enum>(b)</enum><header>Effective date</header><text>The amendment made by this section shall apply to property placed in service after December 31, 2009.</text></subsection></section>
<section id="H90E4646D1BE44FCEAA183846FC8B54B4"><enum>739.</enum><header>Accelerated depreciation for business property on an Indian reservation</header>
<subsection id="HEB4BCBBEB3DF4B7FAD42406882D8C094"><enum>(a)</enum><header>In general</header><text display-inline="yes-display-inline">Paragraph (8) of section 168(j) is amended by striking <quote>December 31, 2009</quote> and inserting <quote>December 31, 2011</quote>.</text></subsection>
<subsection id="H05517A133C3B4403B108FC10BA58C643"><enum>(b)</enum><header>Effective date</header><text>The amendment made by this section shall apply to property placed in service after December 31, 2009.</text></subsection></section>
<section id="H5A900C7B07C1447CAC9FF2FE190C95DB"><enum>740.</enum><header>Enhanced charitable deduction for contributions of food inventory</header>
<subsection id="HE5578151EA954535BD89A38627045952"><enum>(a)</enum><header>In general</header><text>Clause (iv) of section 170(e)(3)(C) is amended by striking <quote>December 31, 2009</quote> and inserting <quote>December 31, 2011</quote>.</text></subsection>
<subsection id="H8C62C5FE83DB4AA4B793F6B9F04504DB"><enum>(b)</enum><header>Effective date</header><text>The amendment made by this section shall apply to contributions made after December 31, 2009.</text></subsection></section>
<section id="H9BF878E8CC554D158E91081A283F22AB"><enum>741.</enum><header>Enhanced charitable deduction for contributions of book inventories to public schools</header>
<subsection id="H218D2F4EF3AB40D3BF13CF5F88199EC1"><enum>(a)</enum><header>In general</header><text>Clause (iv) of section 170(e)(3)(D) is amended by striking <quote>December 31, 2009</quote> and inserting <quote>December 31, 2011</quote>.</text></subsection>
<subsection commented="no" display-inline="no-display-inline" id="H399E5322B2FC4A959AB54DEB8A5B1ACE"><enum>(b)</enum><header>Effective date</header><text>The amendment made by this section shall apply to contributions made after December 31, 2009.</text></subsection></section>
<section commented="no" display-inline="no-display-inline" id="HBE58AB30E24845B6A47D4058697E3629"><enum>742.</enum><header>Enhanced charitable deduction for corporate contributions of computer inventory for educational purposes</header>
<subsection id="HD7FFA37EA1CE490881C58B88C61183BD"><enum>(a)</enum><header>In general</header><text>Subparagraph (G) of section 170(e)(6) is amended by striking <quote>December 31, 2009</quote> and inserting <quote>December 31, 2011</quote>.</text></subsection>
<subsection commented="no" display-inline="no-display-inline" id="HE9599998754B41E49CDC16550E3910D0"><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, 2009.</text></subsection></section>
<section commented="no" display-inline="no-display-inline" id="H177EFAB281744F9187876AAF88820DA5"><enum>743.</enum><header>Election to expense mine safety equipment</header>
<subsection id="HB0A0FBF3A57F4FE3A3AE0D870B52E9D8"><enum>(a)</enum><header>In general</header><text>Subsection (g) of section 179E is amended by striking <quote>December 31, 2009</quote> and inserting <quote>December 31, 2011</quote>.</text></subsection>
<subsection commented="no" display-inline="no-display-inline" id="HA6EFDB8479FD4903AB6C01345F419C2D"><enum>(b)</enum><header>Effective date</header><text>The amendment made by this section shall apply to property placed in service after December 31, 2009.</text></subsection></section>
<section commented="no" display-inline="no-display-inline" id="HD517A7E50D024075ABAF939F3D5DEFCF"><enum>744.</enum><header>Special expensing rules for certain film and television productions</header>
<subsection id="HCD56203ABCBC4975BE0428103B81B190"><enum>(a)</enum><header>In general</header><text>Subsection (f) of section 181 is amended by striking <quote>December 31, 2009</quote> and inserting <quote>December 31, 2011</quote>.</text></subsection>
<subsection commented="no" display-inline="no-display-inline" id="H70158AF223D84C00BBA58C0BFD113E88"><enum>(b)</enum><header>Effective date</header><text>The amendment made by this section shall apply to productions commencing after December 31, 2009.</text></subsection></section>
<section commented="no" display-inline="no-display-inline" id="HE420D97E287D4719ACC655793D33519D"><enum>745.</enum><header>Expensing of environmental remediation costs</header>
<subsection id="H4272913F88874E30AA0D1967362210A5"><enum>(a)</enum><header>In general</header><text>Subsection (h) of section 198 is amended by striking <quote>December 31, 2009</quote> and inserting <quote>December 31, 2011</quote>.</text></subsection>
<subsection commented="no" display-inline="no-display-inline" id="H3197CF76B1C84D398D146DE6366E045E"><enum>(b)</enum><header>Effective date</header><text>The amendment made by this section shall apply to expenditures paid or incurred after December 31, 2009.</text></subsection></section>
<section id="H516B0FC578674123AA132D2455D3ED27"><enum>746.</enum><header>Deduction allowable with respect to income attributable to domestic production activities in Puerto Rico</header>
<subsection id="H88D333E077D04D02A55E494A0F3CA293"><enum>(a)</enum><header>In general</header><text>Subparagraph (C) of section 199(d)(8) is amended—</text>
<paragraph id="H14511CED33464BF3A063FF6FA435D404"><enum>(1)</enum><text>by striking <quote>first 4 taxable years</quote> and inserting <quote>first 6 taxable years</quote>; and</text></paragraph>
<paragraph id="H20C96832BDE5429FAF78EBE24F68A02A"><enum>(2)</enum><text>by striking <quote>January 1, 2010</quote> and inserting <quote>January 1, 2012</quote>.</text></paragraph></subsection>
<subsection commented="no" display-inline="no-display-inline" id="HFAA4ACFD40724CF4872647D26EFF68B8"><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="H8068AB534A1B48339A258AA9C611492B"><enum>747.</enum><header>Modification of tax treatment of certain payments to controlling exempt organizations</header>
<subsection id="HA7397C0054E0429F9D2207A4DAD1DDD6"><enum>(a)</enum><header>In general</header><text>Clause (iv) of section 512(b)(13)(E) is amended by striking <quote>December 31, 2009</quote> and inserting <quote>December 31, 2011</quote>.</text></subsection>
<subsection commented="no" display-inline="no-display-inline" id="H558B127B90774815A4A14F80E1C19CAD"><enum>(b)</enum><header>Effective date</header><text>The amendment made by this section shall apply to payments received or accrued after December 31, 2009.</text></subsection></section>
<section id="H85EFE704D4BA45558DC2C44CBB68D75A"><enum>748.</enum><header>Treatment of certain dividends of regulated investment companies</header>
<subsection id="HBCD52764CD3F4959BCE47D720B68638F"><enum>(a)</enum><header>In general</header><text>Paragraphs (1)(C) and (2)(C) of section 871(k) are each amended by striking <quote>December 31, 2009</quote> and inserting <quote>December 31, 2011</quote>.</text></subsection>
<subsection commented="no" display-inline="no-display-inline" id="HFA6FC1D876F04853B851BFB1AC13DFF7"><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 commented="no" display-inline="no-display-inline" id="H24F1D3EAFFA54D72ACF0976D7406C359"><enum>749.</enum><header>RIC qualified investment entity treatment under FIRPTA</header>
<subsection id="HAAE51E85272C42AAA467F873BD0EE931"><enum>(a)</enum><header>In general</header><text>Clause (ii) of section 897(h)(4)(A) is amended by striking <quote>December 31, 2009</quote> and inserting <quote>December 31, 2011</quote>.</text></subsection>
<subsection commented="no" display-inline="no-display-inline" id="HDEBA1C6184654673B873BD601FCD8F68"><enum>(b)</enum><header>Effective date</header>
<paragraph commented="no" display-inline="no-display-inline" id="HE699EF9D67B4448088EC06D7445FAEB8"><enum>(1)</enum><header>In general</header><text>The amendment made by subsection (a) shall take effect on January 1, 2010. Notwithstanding the preceding sentence, such amendment shall not apply with respect to the withholding requirement under section 1445 of the Internal Revenue Code of 1986 for any payment made before the date of the enactment of this Act.</text></paragraph>
<paragraph commented="no" display-inline="no-display-inline" id="H3BD63F5455DE4DC3A514C9854985F09B"><enum>(2)</enum><header>Amounts withheld on or before date of enactment</header><text>In the case of a regulated investment company—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="HE2475C3AB287401997782C4BAA88FC6F"><enum>(A)</enum><text>which makes a distribution after December 31, 2009, and before the date of the enactment of this Act; and</text></subparagraph>
<subparagraph commented="no" display-inline="no-display-inline" id="H413ACF005D1742F7B1176A205D1E4992"><enum>(B)</enum><text>which would (but for the second sentence of paragraph (1)) have been required to withhold with respect to such distribution under section 1445 of such Code,</text></subparagraph><continuation-text continuation-text-level="paragraph">such investment company shall not be liable to any person to whom such distribution was made for any amount so withheld and paid over to the Secretary of the Treasury.</continuation-text></paragraph></subsection></section>
<section id="H3640DD41D71F47A0B5F6A988E3F050D2"><enum>750.</enum><header>Exceptions for active financing income</header>
<subsection id="H179F52A2D5334420A6B94346A5D5B969"><enum>(a)</enum><header>In general</header><text>Sections 953(e)(10) and 954(h)(9) are each amended by striking <quote>January 1, 2010</quote> and inserting <quote>January 1, 2012</quote>.</text></subsection>
<subsection id="H98A11C9A3EE94A51BC3EE35AF732DE79"><enum>(b)</enum><header>Conforming amendment</header><text>Section 953(e)(10) is amended by striking <quote>December 31, 2009</quote> and inserting <quote>December 31, 2011</quote>.</text></subsection>
<subsection commented="no" display-inline="no-display-inline" id="HFEFA7EDFD4854CE5B9AC113E6DECB6C1"><enum>(c)</enum><header>Effective date</header><text>The amendments made by this section shall apply to taxable years of foreign corporations beginning after December 31, 2009, and to taxable years of United States shareholders with or within which any such taxable year of such foreign corporation ends.</text></subsection></section>
<section commented="no" display-inline="no-display-inline" id="HE393ABBA1F144642984A24F585081420"><enum>751.</enum><header>Look-thru treatment of payments between related controlled foreign corporations under foreign personal holding company rules</header>
<subsection commented="no" display-inline="no-display-inline" id="H7B731320D89D49ADB482B11A0AFB2395"><enum>(a)</enum><header>In general</header><text>Subparagraph (C) of section 954(c)(6) is amended by striking <quote>January 1, 2010</quote> and inserting <quote>January 1, 2012</quote>.</text></subsection>
<subsection commented="no" display-inline="no-display-inline" id="HE06F08BB02AE4D02ACFAFFC3D658DFE0"><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, 2009, and to taxable years of United States shareholders with or within which any such taxable year of such foreign corporation ends.</text></subsection></section>
<section id="HD53082EBAF3446558151E2CCF3A1629F"><enum>752.</enum><header>Basis adjustment to stock of S corps making charitable contributions of property</header>
<subsection id="H47CD3352D43F4C468D39EF3072B2EB7B"><enum>(a)</enum><header>In general</header><text>Paragraph (2) of section 1367(a) is amended by striking <quote>December 31, 2009</quote> and inserting <quote>December 31, 2011</quote>.</text></subsection>
<subsection commented="no" display-inline="no-display-inline" id="HC00B5512F30047819DA9CC6895A23C53"><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, 2009.</text></subsection></section>
<section id="HC18BEEE1C34E4740B4AEC2F0F771BA11"><enum>753.</enum><header>Empowerment zone tax incentives</header>
<subsection id="HAB277B89AB854AD4826CDC0585713E5E"><enum>(a)</enum><header>In general</header><text>Section 1391 is amended—</text>
<paragraph id="H4FC71C2504D241DFB4F0E0C0D262E3BD"><enum>(1)</enum><text>by striking <quote>December 31, 2009</quote> in subsection (d)(1)(A)(i) and inserting <quote>December 31, 2011</quote>; and</text></paragraph>
<paragraph id="H55D937B21A68499DBB4726E487F54165"><enum>(2)</enum><text>by striking the last sentence of subsection (h)(2).</text></paragraph></subsection>
<subsection id="H573AD74E965743E5996D24CB6EF9CF1A"><enum>(b)</enum><header>Increased exclusion of gain on stock of empowerment zone businesses</header><text>Subparagraph (C) of section 1202(a)(2) is amended—</text>
<paragraph id="H7F1E33EF9AA34DB1B3B67AEA59AAF04F"><enum>(1)</enum><text>by striking <quote>December 31, 2014</quote> and inserting <quote>December 31, 2016</quote>; and</text></paragraph>
<paragraph id="H751AE9EFC1024D8F86A4952118A2C58E"><enum>(2)</enum><text>by striking <quote><header-in-text level="subparagraph" style="OLC">2014</header-in-text></quote> in the heading and inserting <quote><header-in-text level="subparagraph" style="OLC">2016</header-in-text></quote>.</text></paragraph></subsection>
<subsection id="H1F2608D3D76149609466310FBD77426D"><enum>(c)</enum><header>Treatment of certain termination dates specified in nominations</header><text>In the case of a designation of an empowerment zone the nomination for which included a termination date which is contemporaneous with the date specified in subparagraph (A)(i) of section 1391(d)(1) of the Internal Revenue Code of 1986 (as in effect before the enactment of this Act), subparagraph (B) of such section shall not apply with respect to such designation if, after the date of the enactment of this section, the entity which made such nomination amends the nomination to provide for a new termination date in such manner as the Secretary of the Treasury (or the Secretary’s designee) may provide.</text></subsection>
<subsection commented="no" display-inline="no-display-inline" id="HCFB4E344DDB74DEDB45781F8326641DC"><enum>(d)</enum><header>Effective date</header><text>The amendments made by this section shall apply to periods after December 31, 2009.</text></subsection></section>
<section commented="no" display-inline="no-display-inline" id="HA090AFFCBF034059B87FC8DC825FE58A"><enum>754.</enum><header>Tax incentives for investment in the District of Columbia</header>
<subsection commented="no" display-inline="no-display-inline" id="H9404FC9D2A6649B9B4D1CBF83BED87CD"><enum>(a)</enum><header>In general</header><text>Subsection (f) of section 1400 is amended by striking <quote>December 31, 2009</quote> each place it appears and inserting <quote>December 31, 2011</quote>.</text></subsection>
<subsection commented="no" display-inline="no-display-inline" id="HC03B0FBAC1BA40F79A7DA1739BEF2C1B"><enum>(b)</enum><header>Tax-exempt DC empowerment zone bonds</header><text>Subsection (b) of section 1400A is amended by striking <quote>December 31, 2009</quote> and inserting <quote>December 31, 2011</quote>.</text></subsection>
<subsection commented="no" display-inline="no-display-inline" id="HA418DCDD361A4B629C0B9CA40D2F2DAD"><enum>(c)</enum><header>Zero-percent capital gains rate</header>
<paragraph commented="no" display-inline="no-display-inline" id="H0A6D69C1416540CBB502E32CAAE62209"><enum>(1)</enum><header>Acquisition date</header><text>Paragraphs (2)(A)(i), (3)(A), (4)(A)(i), and (4)(B)(i)(I) of section 1400B(b) are each amended by striking <quote>January 1, 2010</quote> and inserting <quote>January 1, 2012</quote>.</text></paragraph>
<paragraph commented="no" display-inline="no-display-inline" id="HD0C17F999F3A4618A9DE1BFDC8B19828"><enum>(2)</enum><header>Limitation on period of gains</header>
<subparagraph commented="no" display-inline="no-display-inline" id="HBDEA97E19DFE419C826512EAF6B5A4E8"><enum>(A)</enum><header>In general</header><text>Paragraph (2) of section 1400B(e) is amended—</text>
<clause commented="no" display-inline="no-display-inline" id="HDCA09792F03F45FD8FF2F99593E609EA"><enum>(i)</enum><text>by striking <quote>December 31, 2014</quote> and inserting <quote>December 31, 2016</quote>; and</text></clause>
<clause commented="no" display-inline="no-display-inline" id="H32927963CD8C4611A4E402070F60D98F"><enum>(ii)</enum><text>by striking <quote><header-in-text level="paragraph" style="OLC">2014</header-in-text></quote> in the heading and inserting <quote><header-in-text level="paragraph" style="OLC">2016</header-in-text></quote>.</text></clause></subparagraph>
<subparagraph commented="no" display-inline="no-display-inline" id="HE23811C1E94D44D7B2D3D0EF550433F4"><enum>(B)</enum><header>Partnerships and S-corps</header><text>Paragraph (2) of section 1400B(g) is amended by striking <quote>December 31, 2014</quote> and inserting <quote>December 31, 2016</quote>.</text></subparagraph></paragraph></subsection>
<subsection commented="no" display-inline="no-display-inline" id="HC3127B53380D4E8FA10308A33884769C"><enum>(d)</enum><header>First-time homebuyer credit</header><text>Subsection (i) of section 1400C is amended by striking <quote>January 1, 2010</quote> and inserting <quote>January 1, 2012</quote>.</text></subsection>
<subsection commented="no" display-inline="no-display-inline" id="H6724ACF87AE741079A2A54F143034FF8"><enum>(e)</enum><header>Effective dates</header>
<paragraph commented="no" display-inline="no-display-inline" id="HCDCFF5D393074745A27BCC90C519BD2B"><enum>(1)</enum><header>In general</header><text>Except as otherwise provided in this subsection, the amendments made by this section shall apply to periods after December 31, 2009.</text></paragraph>
<paragraph commented="no" display-inline="no-display-inline" id="H9A0D0EBA15724C25AA19FA5DA9F11893"><enum>(2)</enum><header>Tax-exempt DC empowerment zone bonds</header><text>The amendment made by subsection (b) shall apply to bonds issued after December 31, 2009.</text></paragraph>
<paragraph commented="no" display-inline="no-display-inline" id="HE61B38ED019D4AB48EA7900333E2B8E5"><enum>(3)</enum><header>Acquisition dates for zero-percent capital gains rate</header><text>The amendments made by subsection (c) shall apply to property acquired or substantially improved after December 31, 2009.</text></paragraph>
<paragraph commented="no" display-inline="no-display-inline" id="H7B4EE9860DB64CBEB7C4B923799CCA03"><enum>(4)</enum><header>Homebuyer credit</header><text>The amendment made by subsection (d) shall apply to homes purchased after December 31, 2009.</text></paragraph></subsection></section>
<section id="H85384C135C1A4C74ACFFD30F48B3D176"><enum>755.</enum><header>Temporary increase in limit on cover over of rum excise taxes to Puerto Rico and the Virgin Islands</header>
<subsection id="H70AEBA31124D468A8F33F32C3AC2267D"><enum>(a)</enum><header>In general</header><text>Paragraph (1) of section 7652(f) is amended by striking <quote>January 1, 2010</quote> and inserting <quote>January 1, 2012</quote>.</text></subsection>
<subsection commented="no" display-inline="no-display-inline" id="H724F8CAE669344509B14D4462C57C1D8"><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, 2009.</text></subsection></section>
<section commented="no" display-inline="no-display-inline" id="HF9716692E1B94FE5BED8D74628F0335B"><enum>756.</enum><header>American Samoa economic development credit</header>
<subsection commented="no" display-inline="no-display-inline" id="H0C54A6E6D359417180A5C886C2BF0854"><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 commented="no" display-inline="no-display-inline" id="HF9EEC701A9814A488D35F3BE82E4FF7C"><enum>(1)</enum><text display-inline="yes-display-inline">by striking <quote>first 4 taxable years</quote> and inserting <quote>first 6 taxable years</quote>, and</text></paragraph>
<paragraph commented="no" display-inline="no-display-inline" id="H7473640124EB4188903E4A6FF8E93569"><enum>(2)</enum><text display-inline="yes-display-inline">by striking <quote>January 1, 2010</quote> and inserting <quote>January 1, 2012</quote>.</text></paragraph></subsection>
<subsection commented="no" display-inline="no-display-inline" id="H20196D5A6EFB4D0BA7D1D37289BF769E"><enum>(b)</enum><header>Effective date</header><text display-inline="yes-display-inline">The amendments made by this section shall apply to taxable years beginning after December 31, 2009.</text></subsection></section>
<section commented="no" display-inline="no-display-inline" id="HB1F6CC0D3BCF48EA901CC0CF33BC301C"><enum>757.</enum><header>Work opportunity credit</header>
<subsection commented="no" display-inline="no-display-inline" id="H4BFEFEC315964510A3053A7F90ECB1BA"><enum>(a)</enum><header>In general</header><text>Subparagraph (B) of section 51(c)(4) is amended by striking <quote>August 31, 2011</quote> and inserting <quote>December 31, 2011</quote>.</text></subsection>
<subsection commented="no" display-inline="no-display-inline" id="H84EB5EBCE99D4724B8471F65BCAAFBD9"><enum>(b)</enum><header>Effective date</header><text>The amendment made by this section shall apply to individuals who begin work for the employer after the date of the enactment of this Act.</text></subsection></section>
<section commented="no" display-inline="no-display-inline" id="HBB1645A25CCD4897AA400A07D3C43A1F"><enum>758.</enum><header>Qualified zone academy bonds</header>
<subsection commented="no" display-inline="no-display-inline" id="H247E5B556D8C4119934D7AD2511E9579"><enum>(a)</enum><header>In general</header><text>Section 54E(c)(1) is amended—</text>
<paragraph commented="no" display-inline="no-display-inline" id="H2587A8617CC34156956DBBAF3CE9B332"><enum>(1)</enum><text>by striking <quote>2008 and</quote> and inserting <quote>2008,</quote>, and</text></paragraph>
<paragraph commented="no" display-inline="no-display-inline" id="H2F69134B50864E5BB2B6E0A3EE6D21DE"><enum>(2)</enum><text>by inserting <quote>and $400,000,000 for 2011</quote> after <quote>2010,</quote>.</text></paragraph></subsection>
<subsection commented="no" display-inline="no-display-inline" id="H03EEF69894B348E7A33EACC985303832"><enum>(b)</enum><header>Repeal of refundable credit for QZABs</header><text display-inline="yes-display-inline">Paragraph (3) of section 6431(f) is amended by inserting <quote>determined without regard to any allocation relating to the national zone academy bond limitation for 2011 or any carryforward of such allocation</quote> after <quote>54E)</quote> in subparagraph (A)(iii).</text></subsection>
<subsection commented="no" display-inline="no-display-inline" id="H115FD94FFCA34EBDADF7C13CDD283D97"><enum>(c)</enum><header>Effective date</header><text>The amendments made by this section shall apply to obligations issued after December 31, 2010.</text></subsection></section>
<section commented="no" display-inline="no-display-inline" id="HA2F5DF208CEF48AF83E03253217D7157"><enum>759.</enum><header>Mortgage insurance premiums</header>
<subsection id="H2350D2DC43D5457695C2C641CA5102ED"><enum>(a)</enum><header>In general</header><text>Clause (iv) of section 163(h)(3)(E) is amended by striking <quote>December 31, 2010</quote> and inserting <quote>December 31, 2011</quote>.</text></subsection>
<subsection id="HDC3A2733DE02486BB3F263B0DDD3B27C"><enum>(b)</enum><header>Effective date</header><text>The amendment made by this section shall apply to amounts paid or accrued after December 31, 2010.</text></subsection></section>
<section id="H9E121C1381604F77B3EC6894D54245E3" section-type="subsequent-section"><enum>760.</enum><header>Temporary exclusion of 100 percent of gain on certain small business stock</header>
<subsection id="HBB9A157967DD42C1BD6726BB24B10686"><enum>(a)</enum><header>In general</header><text display-inline="yes-display-inline">Paragraph (4) of section 1202(a) is amended—</text>
<paragraph id="H91C39C6270794367BB134075D546CE65"><enum>(1)</enum><text display-inline="yes-display-inline">by striking <quote>January 1, 2011</quote> and inserting <quote>January 1, 2012</quote>, and</text></paragraph>
<paragraph id="HE086716D4CBF41BABE6B66EA08BEE78D"><enum>(2)</enum><text>by inserting <quote><header-in-text level="paragraph" style="OLC">and 2011</header-in-text></quote> after <quote><header-in-text level="paragraph" style="OLC">2010</header-in-text></quote> in the heading thereof.</text></paragraph></subsection>
<subsection commented="no" display-inline="no-display-inline" id="H6A5D07046A274F05A742E9EEF2632AF8"><enum>(b)</enum><header>Effective date</header><text>The amendments made by this section shall apply to stock acquired after December 31, 2010.</text></subsection></section></subtitle>
<subtitle id="H7CCFC22D0BCF4FDF915C3358225B33B4"><enum>D</enum><header>Temporary disaster relief provisions</header>
<part id="HABCBCBA74F5A4051A2C72F96E664B3E3">
<subpart id="H10C842849A8347258B95894D4C9E0499"><enum>A</enum><header>New York Liberty Zone</header>
<section id="HCC2D5AFA07A447C5BF00A3E1EBC126D9"><enum>761.</enum><header>Tax-exempt bond financing</header>
<subsection id="H3EBC1D4527F64CB085E1383E1D68C7B2"><enum>(a)</enum><header>In general</header><text>Subparagraph (D) of section 1400L(d)(2) is amended by striking <quote>January 1, 2010</quote> and inserting <quote>January 1, 2012</quote>.</text></subsection>
<subsection id="H360D6C02D16840ECB570179CCB68EE48"><enum>(b)</enum><header>Effective date</header><text>The amendment made by this section shall apply to bonds issued after December 31, 2009.</text></subsection></section></subpart>
<subpart id="H1496F5B2C0FF442AB8D7C426128EE3BA"><enum>B</enum><header>GO Zone</header>
<section commented="no" id="HF7ABEA4D9C5747668A0BD76AF0DA1913"><enum>762.</enum><header>Increase in rehabilitation credit</header>
<subsection commented="no" id="HE116946602FE423E88042FAB1D534A42"><enum>(a)</enum><header>In general</header><text>Subsection (h) of section 1400N is amended by striking <quote>December 31, 2009</quote> and inserting <quote>December 31, 2011</quote>.</text></subsection>
<subsection commented="no" id="H09BBC1C4ADBB49E98A5D7DCB7FA50E7A"><enum>(b)</enum><header>Effective date</header><text>The amendment made by this section shall apply to amounts paid or incurred after December 31, 2009.</text></subsection></section>
<section display-inline="no-display-inline" id="H513F87BD322D4CBBB0082F09A044C954" section-type="subsequent-section"><enum>763.</enum><header>Low-income housing credit rules for buildings in GO zones</header><text display-inline="no-display-inline">Section 1400N(c)(5) is amended by striking <quote>January 1, 2011</quote> and inserting <quote>January 1, 2012</quote>.<pagebreak/></text></section>
<section id="H231800BB4FC741DEB07DDFE1C91C6BAA"><enum>764.</enum><header>Tax-exempt bond financing</header>
<subsection id="H85E48CB672F547FFAC4F8E2920D47BEB"><enum>(a)</enum><header>In general</header><text display-inline="yes-display-inline">Paragraphs (2)(D) and (7)(C) of section 1400N(a) are each amended by striking <quote>January 1, 2011</quote> and inserting <quote>January 1, 2012</quote>.</text></subsection>
<subsection commented="no" display-inline="no-display-inline" id="H467FA0DE63BF4F9BA50A10F15D487D07"><enum>(b)</enum><header>Conforming amendments</header><text>Sections 702(d)(1) and 704(a) of the Heartland Disaster Tax Relief Act of 2008 are each amended by striking <quote>January 1, 2011</quote> each place it appears and inserting <quote>January 1, 2012</quote>.</text></subsection></section>
<section id="H3D4F9513DC5343B59EA067C8AE0C5291" section-type="subsequent-section"><enum>765.</enum><header>Bonus depreciation deduction applicable to the GO Zone</header>
<subsection id="HD2E9C2DCEBBD4E2B98C5DC57DFDDAF0C"><enum>(a)</enum><header>In general</header><text display-inline="yes-display-inline">Paragraph (6) of section 1400N(d) is amended—</text>
<paragraph id="HAE28FDFA0DCF480180BDB0F42093B751"><enum>(1)</enum><text display-inline="yes-display-inline">by striking “December 31, 2010” both places it appears in subparagraph (B) and inserting “December 31, 2011”, and</text></paragraph>
<paragraph id="H3DFE8C3AA78A45E6964E23056F1AF172"><enum>(2)</enum><text display-inline="yes-display-inline">by striking <quote>January 1, 2010</quote> in the heading and the text of subparagraph (D) and inserting <quote>January 1, 2012</quote>.</text></paragraph></subsection>
<subsection commented="no" display-inline="no-display-inline" id="H66DC4E0F95294E3683377CEB946CE41D"><enum>(b)</enum><header>Effective date</header><text>The amendment made by this section shall apply to property placed in service after December 31, 2009.</text></subsection></section></subpart></part></subtitle>
<enum>VIII</enum><header>Budgetary provisions</header>
<section commented="no" display-inline="no-display-inline" id="H2EBD7431A9E64806BAB4B6E6CBDE9AE5" section-type="subsequent-section"><enum>801.</enum><header>Determination of budgetary effects</header><text display-inline="no-display-inline">The budgetary effects of this Act, for the purpose of complying with the Statutory Pay-As-You-Go Act of 2010, shall be determined by reference to the latest statement titled <quote>Budgetary Effects of PAYGO Legislation</quote> for this Act, jointly submitted for printing in the Congressional Record by the Chairmen of the House and Senate Budget Committees, provided that such statement has been submitted prior to the vote on passage in the House acting first on this conference report or amendment between the Houses.</text></section>
<section commented="no" display-inline="no-display-inline" id="HEB9D8BC46D64424FB131A455CCC17665" section-type="subsequent-section"><enum>802.</enum><header>Emergency designations</header>
<subsection commented="no" display-inline="no-display-inline" id="HE10032C3DB2842C398B46AD0165A9ED5"><enum>(a)</enum><header>Statutory paygo</header><text display-inline="yes-display-inline">This Act is designated as an emergency requirement pursuant to section 4(g) of the Statutory Pay-As-You-Go Act of 2010 (Public Law 111–139; 2 U.S.C. 933(g)) except to the extent that the budgetary effects of this Act are determined to be subject to the current policy adjustments under sections 4(c) and 7 of the Statutory Pay-As-You-Go Act.</text></subsection>
<subsection commented="no" display-inline="no-display-inline" id="H7F9F343490D844D9A258302364F12BDA"><enum>(b)</enum><header>Senate</header><text display-inline="yes-display-inline">In the Senate, this Act is designated as an emergency requirement pursuant to section 403(a) of S. Con. Res. 13 (111th Congress), the concurrent resolution on the budget for fiscal year 2010.<pagebreak/></text></subsection>
<subsection commented="no" display-inline="no-display-inline" id="H33902A971F284CC4B3548820DEFCE553"><enum>(c)</enum><header>House of Representatives</header><text>In the House of Representatives, every provision of this Act is expressly designated as an emergency for purposes of pay-as-you-go principles except to the extent that any such provision is subject to the current policy adjustments under section 4(c) of the Statutory Pay-As-You-Go Act of 2010.</text></subsection></section>
Speaker of the House of Representatives.Vice President of the United States and President of the Senate.