1.This Act may be cited as the
Tax Relief Certainty Act of
2011
.
<enum>I</enum><header>Permanent tax
relief</header>
<section id="H4D0B7706A25D4562B18DA052D9B56493" section-type="subsequent-section"><enum>101.</enum><header>Repeal of EGTRRA
sunset</header><text display-inline="no-display-inline">Section 901 of the
Economic Growth and Tax Relief Reconciliation Act of 2001 is repealed.</text>
</section><section id="H903EF27A422E43748E25121BE2AB29DD"><enum>102.</enum><header>Repeal of
JGTRRA sunset</header><text display-inline="no-display-inline">Section 303 of
the Jobs and Growth Tax Relief Reconciliation Act of 2003 is repealed.</text>
</section><section commented="no" display-inline="no-display-inline" id="H39B1A86C146A468DAA7966CBB4AD77EF" section-type="subsequent-section"><enum>103.</enum><header display-inline="yes-display-inline">Technical and conforming
amendments</header><text display-inline="no-display-inline">The Secretary of
the Treasury or the Secretary’s delegate shall, not later than 90 days after
the date of the enactment of this Act, submit to the Committee on Ways and
Means of the House of Representatives and the Committee on Finance of the
Senate a draft of any technical and conforming changes in the Internal Revenue
Code of 1986 which are necessary to reflect throughout such Code the purposes
of the provisions of, and amendments made by, this Act.</text>
</section><enum>II</enum><header>Permanent
individual AMT relief</header>
<section id="H2E40F205EFB848C4AC73A2A1F91774F2"><enum>201.</enum><header>Permanent
individual AMT relief</header>
<subsection display-inline="no-display-inline" id="HCA9C851235BC4CDB92A2700525CA32EE"><enum>(a)</enum><header>Modification of
alternative minimum tax exemption amount</header>
<paragraph id="H13738E5D00744D0BBB13A1C2DE8CB4C2"><enum>(1)</enum><header>In
general</header><text>Paragraph (1) of section 55(d) of the Internal Revenue
Code of 1986 (relating to exemption amount) is amended to read as
follows:</text>
<quoted-block act-name="" id="H9E12FEA329924A6A9CC251C271229CDE" style="OLC">
<paragraph id="H42F607B4F2DA4011A61FC0453B87ECD6"><enum>(1)</enum><header>Exemption amount
for taxpayers other than corporations</header><text>In the case of a taxpayer
other than a corporation, the term <term>exemption amount</term> means—</text>
<subparagraph id="H8D59AD8CA0F8463CB95FD1E64EACF164"><enum>(A)</enum><text>the dollar amount
for taxable years beginning in the calendar year as specified in the table
contained in paragraph (4)(A) in the case of—</text>
<clause id="H42A462432CE14556A99C1A3608A34DC5"><enum>(i)</enum><text>a
joint return, or</text>
</clause><clause id="H395D40D74C254F52B848D8831D0FDDBC"><enum>(ii)</enum><text>a
surviving spouse,</text>
</clause></subparagraph><subparagraph id="H1670795055184948A7565FB3F6F3BFD1"><enum>(B)</enum><text>the dollar amount
for taxable years beginning in the calendar year as specified in the table
contained in paragraph (4)(B) in the case of an individual who—</text>
<clause id="H232C79BF7A9A43459CDC094740C205C5"><enum>(i)</enum><text>is
not a married individual, and</text>
</clause><clause id="HCB38C1A1881E470FA20ED319C6C55BCE"><enum>(ii)</enum><text>is not a
surviving spouse,</text>
</clause></subparagraph><subparagraph id="HCFFEB028B67E47988CA3481BFB700ADD"><enum>(C)</enum><text>50 percent of the
dollar amount applicable under paragraph (1)(A) in the case of a married
individual who files a separate return, and</text>
</subparagraph><subparagraph id="HDF2BA50894634EB992662FFB82A83B1C"><enum>(D)</enum><text>$22,500 in the
case of an estate or trust.</text>
</subparagraph><continuation-text continuation-text-level="paragraph">For
purposes of this paragraph, the term <term>surviving spouse</term> has the
meaning given to such term by section 2(a), and marital status shall be
determined under section
7703.</continuation-text></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="H9C53E369FA544314981A65C3983AD542"><enum>(2)</enum><header>Specified
exemption amounts</header><text display-inline="yes-display-inline">Section
55(d) of such Code is amended by adding at the end the following new
paragraph:</text>
<quoted-block display-inline="no-display-inline" id="HFE83399F305B4432926AB0BC178A513B" style="OLC">
<paragraph id="H420661E279954CCBBC9C7558AEA7E792"><enum>(4)</enum><header>Specified
exemption amounts</header>
<subparagraph id="H77C7922604CE4A849F4E22081FAF438B"><enum>(A)</enum><header>Taxpayers
described in paragraph
<enum-in-header>(1)(A)</enum-in-header></header><text>For purposes of paragraph
(1)(A)—</text>
<table align-to-level="section" blank-lines-before="1" colsep="1" frame="topbot" line-rules="hor-ver" rowsep="0" rule-weights="4.4.4.0.0.0" table-template-name="Generic: 1 text, 1 num" table-type="">
<tgroup cols="2" grid-typeface="1.1" rowsep="0" thead-tbody-ldg-size="10.10.12"><colspec coldef="txt" colname="column1" colwidth="269pts" min-data-value="200" rowsep="0"></colspec><colspec coldef="fig" colname="column2" colwidth="103.50pt" min-data-value="10" rowsep="0"></colspec>
<thead>
<row><entry align="center" colname="column1" morerows="0" namest="column1" rowsep="1">For taxable years beginning in—</entry><entry align="center" colname="column2" morerows="0" namest="column2" rowsep="1">The<linebreak></linebreak> exemption<linebreak></linebreak> amount is:</entry>
</row>
</thead>
<tbody>
<row><entry align="left" colname="column1" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">2011</entry><entry align="right" colname="column2" rowsep="0">$74,450</entry>
</row>
<row><entry align="left" colname="column1" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">2012</entry><entry align="right" colname="column2" rowsep="0">$78,250</entry>
</row>
<row><entry align="left" colname="column1" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">2013</entry><entry align="right" colname="column2" rowsep="0">$81,450</entry>
</row>
<row><entry align="left" colname="column1" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">2014</entry><entry align="right" colname="column2" rowsep="0">$85,050</entry>
</row>
<row><entry align="left" colname="column1" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">2015</entry><entry align="right" colname="column2" rowsep="0">$88,650</entry>
</row>
<row><entry align="left" colname="column1" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">2016</entry><entry align="right" colname="column2" rowsep="0">$92,650</entry>
</row>
<row><entry align="left" colname="column1" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">2017</entry><entry align="right" colname="column2" rowsep="0">$96,550</entry>
</row>
<row><entry align="left" colname="column1" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">2018</entry><entry align="right" colname="column2" rowsep="0">$100,950</entry>
</row>
<row><entry align="left" colname="column1" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">2019</entry><entry align="right" colname="column2" rowsep="0">$105,150</entry>
</row>
<row><entry align="left" colname="column1" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">2020</entry><entry align="right" colname="column2" rowsep="0">$109,950</entry>
</row>
<row><entry align="left" colname="column1" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">2021</entry><entry align="right" colname="column2" rowsep="0">$112,250.</entry>
</row>
</tbody>
</tgroup>
</table>
</subparagraph><subparagraph id="H86F1C76878694CD0802EA5821899ACA1"><enum>(B)</enum><header>Taxpayers
described in paragraph
<enum-in-header>(1)(B)</enum-in-header></header><text>For purposes of paragraph
(1)(B)—</text>
<table align-to-level="section" blank-lines-before="1" colsep="1" frame="topbot" line-rules="hor-ver" rowsep="0" rule-weights="4.4.4.0.0.0" table-template-name="Generic: 1 text, 1 num" table-type="">
<tgroup cols="2" grid-typeface="1.1" rowsep="0" thead-tbody-ldg-size="10.10.12"><colspec coldef="txt" colname="column1" colwidth="269pts" min-data-value="200" rowsep="0"></colspec><colspec coldef="fig" colname="column2" colwidth="105.75pt" min-data-value="10" rowsep="0"></colspec>
<thead>
<row><entry align="center" colname="column1" morerows="0" namest="column1" rowsep="1">For taxable years beginning in—</entry><entry align="center" colname="column2" morerows="0" namest="column2" rowsep="1">The<linebreak></linebreak> exemption<linebreak></linebreak> amount is:</entry>
</row>
</thead>
<tbody>
<row><entry align="left" colname="column1" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">2011</entry><entry align="right" colname="column2" rowsep="0">$48,450</entry>
</row>
<row><entry align="left" colname="column1" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">2012</entry><entry align="right" colname="column2" rowsep="0">$50,350</entry>
</row>
<row><entry align="left" colname="column1" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">2013</entry><entry align="right" colname="column2" rowsep="0">$51,950</entry>
</row>
<row><entry align="left" colname="column1" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">2014</entry><entry align="right" colname="column2" rowsep="0">$53,750</entry>
</row>
<row><entry align="left" colname="column1" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">2015</entry><entry align="right" colname="column2" rowsep="0">$55,550</entry>
</row>
<row><entry align="left" colname="column1" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">2016</entry><entry align="right" colname="column2" rowsep="0">$57,550</entry>
</row>
<row><entry align="left" colname="column1" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">2017</entry><entry align="right" colname="column2" rowsep="0">$59,500</entry>
</row>
<row><entry align="left" colname="column1" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">2018</entry><entry align="right" colname="column2" rowsep="0">$61,700</entry>
</row>
<row><entry align="left" colname="column1" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">2019</entry><entry align="right" colname="column2" rowsep="0">$63,800</entry>
</row>
<row><entry align="left" colname="column1" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">2020</entry><entry align="right" colname="column2" rowsep="0">$66,200</entry>
</row>
<row><entry align="left" colname="column1" rowsep="0" stub-definition="txt-ldr" stub-hierarchy="1">2021</entry><entry align="right" colname="column2" rowsep="0">$68,200.</entry>
</row>
</tbody>
</tgroup></table>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="H345F4C43E1A84E28BB8BFB65680F78FE"><enum>(b)</enum><header>Alternative
minimum tax relief for nonrefundable credits</header>
<paragraph commented="no" display-inline="no-display-inline" id="HC328CCD346974E929217A2EBDE967110"><enum>(1)</enum><header>In
general</header><text>Subsection (a) of section 26 of the Internal Revenue Code
of 1986 is amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="H5FBAD5FA1C04447386ECBCEFB0AB17A2" style="OLC">
<subsection commented="no" display-inline="no-display-inline" id="H193E47E20CCB4A3D87953389CDA53C43"><enum>(a)</enum><header>Limitation based
on amount of tax</header><text>The aggregate amount of credits allowed by this
subpart for the taxable year shall not exceed the sum of—</text>
<paragraph id="H5DE740E5CE4E4B539CC322EEEDF1181E"><enum>(1)</enum><text>the taxpayer's
regular tax liability for the taxable year reduced by the foreign tax credit
allowable under section 27(a), and</text>
</paragraph><paragraph id="H2AD4CD866DC6419C9176F59BD12BEE56"><enum>(2)</enum><text>the tax imposed by
section 55(a) for the taxable
year.</text>
</paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="H31BF4F28C5BC4634A27C090A1FBC2DB3"><enum>(2)</enum><header>Conforming
amendments</header>
<subparagraph commented="no" display-inline="no-display-inline" id="H99C75F1692FB434087A0BCD0B9C9D028"><enum>(A)</enum><header>Child tax
credit</header>
<clause commented="no" display-inline="no-display-inline" id="H549D347D54A446859E29128349CC7E88"><enum>(i)</enum><text>Section 24(b) of
such Code is amended by striking paragraph (3).</text>
</clause><clause commented="no" display-inline="no-display-inline" id="H8CED582A19E248B1A6A94D264BC56BCF"><enum>(ii)</enum><text>Section 24(d)(1)
of such Code is amended—</text>
<subclause commented="no" display-inline="no-display-inline" id="HB40BF54B666740EC979CD103E0AE7E74"><enum>(I)</enum><text>by striking
<quote>section 26(a)(2) or subsection (b)(3), as the case may be,</quote> each
place it appears in subparagraphs (A) and (B) and inserting <quote>section
26(a)</quote>, and</text>
</subclause><subclause commented="no" display-inline="no-display-inline" id="HA33EAABD0EA64CED8D7E4E7D10BC51F4"><enum>(II)</enum><text>by striking
<quote>section 26(a)(2) or subsection (b)(3), as the case may be</quote> in the
second last sentence and inserting <quote>section 26(a)</quote>.</text>
</subclause></clause></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H209D40F9E27F465EA69C60CE288235C8"><enum>(B)</enum><header>Credit for
interest on certain home mortgages</header><text>Section 25(e)(1)(C) of such
Code is amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="HDAD15CE46F81462A9E4775D8B868EE47" style="OLC">
<subparagraph commented="no" display-inline="no-display-inline" id="H1FB5DB06212B4C709F2274DBABDB1DCB"><enum>(C)</enum><header>Applicable tax
limit</header><text>For purposes of this paragraph, the term <quote>applicable
tax limit</quote> means the limitation imposed by section 26(a) for the taxable
year reduced by the sum of the credits allowable under this subpart (other than
this section and sections 23, 25D, and
1400C).</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="HBDD512EA4BAC440AA54B4D4DC6787EB0"><enum>(C)</enum><header>Savers'
credit</header><text>Section 25B of such Code is amended by striking subsection
(g).</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="HEB1C319B685545368199D49516841883"><enum>(D)</enum><header>Residential
energy efficient property</header><text>Section 25D(c) of such Code is amended
to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="H34A87D5876CA4F289EAC01E7D0C781DB" style="OLC">
<subsection commented="no" display-inline="no-display-inline" id="HD694889714F34DEAB342D4B2A739209A"><enum>(c)</enum><header>Carryforward of
unused credit</header><text>If the credit allowable under subsection (a)
exceeds the limitation imposed by section 26(a) for such taxable year reduced
by the sum of the credits allowable under this subpart (other than this
section), such excess shall be carried to the succeeding taxable year and added
to the credit allowable under subsection (a) for such succeeding taxable
year.</text>
</subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="HC627E543B4134BDB928F9D5FD7A7FEFB"><enum>(E)</enum><header>Certain plug-in
electric vehicles</header><text>Section 30(c)(2) of such Code is amended to
read as follows:</text>
<quoted-block display-inline="no-display-inline" id="H557758B6CDEB4550AD5EC90F6946940F" style="OLC">
<paragraph commented="no" display-inline="no-display-inline" id="H611C08D844F74A75A6C9ACA772E594C6"><enum>(2)</enum><header>Personal
credit</header><text>For purposes of this title, the credit allowed under
subsection (a) for any taxable year (determined after application of paragraph
(1)) shall be treated as a credit allowable under subpart A for such taxable
year.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H0881E541E847476798F1AA444759D139"><enum>(F)</enum><header>Alternative
motor vehicle credit</header><text>Section 30B(g)(2) of such Code is amended to
read as follows:</text>
<quoted-block display-inline="no-display-inline" id="H49E58F1D66824FC4AA221006407D5EC9" style="OLC">
<paragraph commented="no" display-inline="no-display-inline" id="H176E21D72E72427A9C8484C47C7107D6"><enum>(2)</enum><header>Personal
credit</header><text>For purposes of this title, the credit allowed under
subsection (a) for any taxable year (determined after application of paragraph
(1)) shall be treated as a credit allowable under subpart A for such taxable
year.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="HDC3FD7155D914D8AAAC7FB631220912F"><enum>(G)</enum><header>New qualified
plug-in electric vehicle credit</header><text>Section 30D(c)(2) of such Code is
amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="HE6340F3179204C8B9B3105F22564B187" style="OLC">
<paragraph commented="no" display-inline="no-display-inline" id="H39BD454F03144BCFAD50D224ABDE8555"><enum>(2)</enum><header>Personal
credit</header><text>For purposes of this title, the credit allowed under
subsection (a) for any taxable year (determined after application of paragraph
(1)) shall be treated as a credit allowable under subpart A for such taxable
year.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="HEB0B5946D5F8484694CB636FABFC491F"><enum>(H)</enum><header>Cross
references</header><text>Section 55(c)(3) of such Code is amended by striking
<quote>26(a), 30C(d)(2),</quote> and inserting <quote>30C(d)(2)</quote>.</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H4294DD0448D440B08CE077E78B3C2382"><enum>(I)</enum><header>Foreign tax
credit</header><text>Section 904 of such Code is amended by striking subsection
(i) and by redesignating subsections (j), (k), and (l) as subsections (i), (j),
and (k), respectively.</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="H1495ACA2440141AEAA2E92493F57D6EA"><enum>(J)</enum><header>First-time home
buyer credit for the District of Columbia</header><text>Section 1400C(d) of
such Code is amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="H74B092DE1E964CA69A6CADAAD50EF891" style="OLC">
<subsection commented="no" display-inline="no-display-inline" id="H2BBF7FE12EB94BBF990F8226F9402043"><enum>(d)</enum><header>Carryforward of
unused credit</header><text>If the credit allowable under subsection (a)
exceeds the limitation imposed by section 26(a) for such taxable year reduced
by the sum of the credits allowable under subpart A of part IV of subchapter A
(other than this section and section 25D), such excess shall be carried to the
succeeding taxable year and added to the credit allowable under subsection (a)
for such taxable
year.</text>
</subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="idCD17430A4CF14EB48B0BF144FB07B50C"><enum>(3)</enum><header>Adoption
credit</header>
<subparagraph commented="no" display-inline="no-display-inline" id="id5FF67B292A9C4F249356398BAF564E83"><enum>(A)</enum><header>In
general</header><text>Section 10909 of the Patient Protection and Affordable
Care Act, and the amendments made thereby, are repealed; and the Internal
Revenue Code of 1986 shall be applied as if such section, and amendments, had
never been enacted.</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="idD1D87478AC0E4312ADD76B71E77A302E"><enum>(B)</enum><header>Conforming
amendments</header>
<clause commented="no" display-inline="no-display-inline" id="H4181AD31BA71434186EF8B13EC6D36F4"><enum>(i)</enum><text>Section 23(b) of
the Internal Revenue Code of 1986, as in effect on December 31, 2009, is
amended by striking paragraph (4).</text>
</clause><clause commented="no" display-inline="no-display-inline" id="HEE462CFDB0A444A9AE65EC34CC5DFED5"><enum>(ii)</enum><text>Section 23(c) of
such Code, as in effect on December 31, 2009, is amended by striking paragraphs
(1) and (2) and inserting before paragraph (3) the following:</text>
<quoted-block display-inline="no-display-inline" id="H0B758AB16809459E95854A76104EFCE0" style="OLC">
<paragraph commented="no" display-inline="no-display-inline" id="HBD9D6E6FA1EA480EA31B7280E3189029"><enum>(1)</enum><header>In
general</header><text>If the credit allowable under subsection (a) for any
taxable year exceeds the limitation imposed by section 26(a) for such taxable
year, reduced by the sum of the credits allowable under this subpart (other
than this section and sections 25D and 1400C), such excess shall be carried to
the succeeding taxable year and added to the credit allowable under subsection
(a) for such taxable
year.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</clause><clause commented="no" display-inline="no-display-inline" id="HBEE29B9543284BA68B7ED9C4C5C39B02"><enum>(iii)</enum><text>Section 23(c) of
such Code, as in effect on December 31, 2009, is amended by redesignating
paragraph (3) as paragraph (2).</text>
</clause></subparagraph></paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="H23657B800E334A61BC906FD6E3D48246"><enum>(c)</enum><header>Effective
date</header><text>The amendments and the repeal made by this section shall
apply to taxable years beginning after December 31, 2010.</text>
</subsection></section><enum>III</enum><header>Permanent
estate tax relief</header>
<section id="id0A730D3D41DC44839DD88CC5F86F1E5B"><enum>301.</enum><header>Permanent
estate tax relief</header>
<subsection id="id7C2BEC376B3D4172979B8CBEF57257A4"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline">Title III of the Tax
Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010,
and the amendments made thereby, are repealed; and the Internal Revenue Code of
1986 shall be applied as if such title, and amendments, had never been
enacted.</text>
</subsection><subsection id="id9696B06427864801A4D98390014BF8D5"><enum>(b)</enum><header>Effective
date</header><text>The repeal made by this section shall apply to estates of
decedents dying, gifts made, and generation skipping transfers after December
31, 2009.</text>
</subsection></section>