1.
(a)This Act may be cited
as the Family and Business Tax Cut
Certainty Act of 2012
.
(b)Except as otherwise
expressly provided, whenever in this Act an amendment or repeal is expressed in
terms of an amendment to, or repeal of, a section or other provision, the
reference shall be considered to be made to a section or other provision of the
Internal Revenue Code of 1986.
(c)The table of contents of this Act is as follows:
Sec. 1. Short title;
etc.
TITLE I—Individual tax provisions
Subtitle A—Alternative minimum tax relief
Sec. 101. Extension of increased alternative minimum tax
exemption amount.
Sec. 102. Extension of alternative minimum tax relief for
nonrefundable personal credits.
Subtitle B—Other individual tax provisions
Sec. 111. Extension of deduction for certain expenses of
elementary and secondary school teachers.
Sec. 112. Extension of exclusion from gross income of discharge
of qualified principal residence indebtedness.
Sec. 113. Extension of parity for exclusion from income for
employer-provided mass transit and parking benefits.
Sec. 114. Extension of mortgage insurance premiums treated as
qualified residence interest.
Sec. 115. Extension of deduction of State and local general
sales taxes.
Sec. 116. Extension of special rule for contributions of
capital gain real property made for conservation purposes.
Sec. 117. Extension of above-the-line deduction for qualified
tuition and related expenses.
Sec. 118. Extension of tax-free distributions from individual
retirement plans for charitable purposes.
Subtitle C—Tax administration
Sec. 121. Improve and make permanent the provision authorizing
the Internal Revenue Service to disclose certain return and return information
to certain prison officials.
Sec. 122. Extension of rule disregarding refunds in the
administration of Federal programs and Federally assisted programs.
TITLE II—Business tax extenders
Sec. 201. Extension and modification of research
credit.
Sec. 202. Extension of temporary minimum low-income tax credit
rate for non-federally subsidized new buildings.
Sec. 203. Extension of housing allowance exclusion for
determining area median gross income for qualified residential rental project
exempt facility bonds.
Sec. 204. Extension of Indian employment tax
credit.
Sec. 205. Extension of new markets tax credit.
Sec. 206. Extension of railroad track maintenance
credit.
Sec. 207. Extension of mine rescue team training
credit.
Sec. 208. Extension of employer wage credit for employees who
are active duty members of the uniformed services.
Sec. 209. Extension of work opportunity tax credit.
Sec. 210. Extension of qualified zone academy
bonds.
Sec. 211. Extension of 15-year straight-line cost recovery for
qualified leasehold improvements, qualified restaurant buildings and
improvements, and qualified retail improvements.
Sec. 212. Extension of 7-year recovery period for motorsports
entertainment complexes.
Sec. 213. Extension of accelerated depreciation for business
property on an Indian reservation.
Sec. 214. Extension of enhanced charitable deduction for
contributions of food inventory.
Sec. 215. Extension of increased expensing limitations and
treatment of certain real property as section 179 property.
Sec. 216. Extension of election to expense mine safety
equipment.
Sec. 217. Extension of special expensing rules for certain film
and television productions.
Sec. 218. Extension of deduction allowable with respect to
income attributable to domestic production activities in Puerto
Rico.
Sec. 219. Extension of modification of tax treatment of certain
payments to controlling exempt organizations.
Sec. 220. Extension of treatment of certain dividends of
regulated investment companies.
Sec. 221. Extension of RIC qualified investment entity
treatment under FIRPTA.
Sec. 222. Extension of subpart F exception for active financing
income.
Sec. 223. Extension of look-thru treatment of payments between
related controlled foreign corporations under foreign personal holding company
rules.
Sec. 224. Extension of temporary exclusion of 100 percent of
gain on certain small business stock.
Sec. 225. Extension of basis adjustment to stock of S
corporations making charitable contributions of property.
Sec. 226. Extension of reduction in S-corporation recognition
period for built-in gains tax.
Sec. 227. Extension of empowerment zone tax
incentives.
Sec. 228. Extension of tax-exempt financing for New York
Liberty Zone.
Sec. 229. Extension of temporary increase in limit on cover
over of rum excise taxes to Puerto Rico and the Virgin Islands.
Sec. 230. Extension and limitation of
American Samoa economic development credit.
TITLE III—Energy tax extenders
Sec. 301. Extension of credit for energy-efficient existing
homes.
Sec. 302. Extension of credit for alternative fuel vehicle
refueling property.
Sec. 303. Extension of credit for 2- or 3-wheeled plug-in
electric vehicles.
Sec. 304. Extension and modification of cellulosic biofuel
producer credit.
Sec. 305. Extension of incentives for biodiesel and renewable
diesel.
Sec. 306. Extension of production credit for Indian coal
facilities placed in service before 2009.
Sec. 307. Extension and modification of credits with respect to
facilities producing energy from certain renewable resources.
Sec. 308. Extension of credit for energy-efficient new
homes.
Sec. 309. Extension of credit for energy-efficient
appliances.
Sec. 310. Extension and modification of special allowance for
cellulosic biofuel plant property.
Sec. 311. Extension of special rule for sales or dispositions
to implement FERC or State electric restructuring policy for qualified electric
utilities.
Sec. 312. Extension of alternative fuels excise tax
credits.
TITLE IV—Other provisions
Sec. 401. Sense of the Senate regarding tax reform.
TITLE V—Budget provisions
Sec. 501. PAYGO scorecard estimates.
<enum>I</enum><header>Individual tax
provisions</header>
<subtitle id="id2727C6E8ABE04859B6530CF28EDBA775"><enum>A</enum><header>Alternative
minimum tax relief</header>
<section display-inline="no-display-inline" id="id236037A6A4654F0985F24B27E353249E"><enum>101.</enum><header>Extension of
increased alternative minimum tax exemption amount</header>
<subsection id="id7EA17923A1BA40D89B3FB2AA3EF7B5C1"><enum>(a)</enum><header>In
general</header><text>Paragraph (1) of section 55(d) is amended—</text>
<paragraph id="id021d4fde872848bdb686bf7ae7f6689b"><enum>(1)</enum><text>by striking
<quote>$72,450</quote> and all that follows through <quote>2011</quote> in
subparagraph (A) and inserting <quote>$78,750 in the case of taxable years
beginning in 2012 and $79,850 in the case of taxable years beginning in
2013</quote>, and</text>
</paragraph><paragraph id="idda8671e4d28c472b855e8818e94773a8"><enum>(2)</enum><text>by striking
<quote>$47,450</quote> and all that follows through <quote>2011</quote> in
subparagraph (B) and inserting <quote>$50,600 in the case of taxable years
beginning in 2012 and $51,150 in the case of taxable years beginning in
2013</quote>.</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="id0C9DB097D6FF4A3786DF6C57E5840FA4"><enum>(b)</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><section id="id31804E85AB234608876C0D7392EA746D"><enum>102.</enum><header>Extension of
alternative minimum tax relief for nonrefundable personal credits</header>
<subsection id="id9DE539AA6AF74E9C8F4D4E9A9215B11F"><enum>(a)</enum><header>In
general</header><text>Paragraph (2) of section 26(a) is amended—</text>
<paragraph id="id51619AD1FFDB4722A1DA235800511F23"><enum>(1)</enum><text>by striking
<quote>or 2011</quote> and inserting <quote>2011, 2012, or 2013</quote>,
and</text>
</paragraph><paragraph id="id9033BFC177C746D09D9EB364C89285C8"><enum>(2)</enum><text>by striking
<quote><header-in-text level="paragraph" style="OLC">2011</header-in-text></quote> in the heading thereof and inserting
<quote><header-in-text level="paragraph" style="OLC">2013</header-in-text></quote>.</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="id21E280511FE74D2F9CB27381FBB94714"><enum>(b)</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></subtitle><subtitle id="id787DF7425D894FE288281FCD0874C34B"><enum>B</enum><header>Other individual
tax provisions</header>
<section id="H69A065E37A794B06A130784060D3D4C5"><enum>111.</enum><header>Extension of
deduction for certain expenses of elementary and secondary school
teachers</header>
<subsection id="HFAAD20CEA67643F6A0C1C7D6C94AB18F"><enum>(a)</enum><header>In
general</header><text>Subparagraph (D) of section 62(a)(2) is amended by
striking <quote>or 2011</quote> and inserting <quote>2011, 2012, or
2013</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="HFAE9B96DB0824C22B36185022EE8EAC5"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to taxable
years beginning after December 31, 2011.</text>
</subsection></section><section id="idF75D7912996B42729645ABFDE248A804" section-type="subsequent-section"><enum>112.</enum><header>Extension of
exclusion from gross income of discharge of qualified principal residence
indebtedness</header>
<subsection id="id0986DD30D77D40F7A45C092BA31F5315"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline">Subparagraph (E) of
section 108(a)(1) is amended by striking <quote>January 1, 2013</quote> and
inserting <quote>January 1, 2014</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="id05A6C36A69724A61971D51673734743A"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to
indebtedness discharged after December 31, 2012.</text>
</subsection></section><section id="id8C3EC3C4747747E1A27121017B7B5F7A"><enum>113.</enum><header>Extension of
parity for exclusion from income for employer-provided mass transit and parking
benefits</header>
<subsection id="id417CC18BC0C44122919233C3570B15CF"><enum>(a)</enum><header>In
general</header><text>Paragraph (2) of section 132(f) is amended by striking
<quote>January 1, 2012</quote> and inserting <quote>January 1,
2014</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="id9754F66E0E9A4859A5DB2B414270E687"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to months
after December 31, 2011.</text>
</subsection></section><section id="id56B95DB124054EC7AE85E4F297D85924"><enum>114.</enum><header>Extension of
mortgage insurance premiums treated as qualified residence interest</header>
<subsection id="idF916F5E80568499F92EF2AADDA6329BA"><enum>(a)</enum><header>In
general</header><text>Subclause (I) of section 163(h)(3)(E)(iv) is amended by
striking <quote>December 31, 2011</quote> and inserting <quote>December 31,
2013</quote>.</text>
</subsection><subsection id="id14BBD622AC9E4DC484722EC50F875ED8"><enum>(b)</enum><header>Technical
amendments</header><text>Clause (i) of section 163(h)(4)(E) is amended—</text>
<paragraph id="idda6926b628774d6691788ad13a3a26de"><enum>(1)</enum><text>by striking
<quote>Veterans Administration</quote> and inserting <quote>Department of
Veterans Affairs</quote>, and</text>
</paragraph><paragraph id="ida2a01c91dad9436f97a068b124cbcc83"><enum>(2)</enum><text>by striking
<quote>Rural Housing Administration</quote> and inserting <quote>Rural Housing
Service</quote>.</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="idA44827BE2C674979B6F1597345AB5C6D"><enum>(c)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to amounts
paid or accrued after December 31, 2011.</text>
</subsection></section><section id="H6B3094BE41234906ACB43BBB033EA22F"><enum>115.</enum><header>Extension of
deduction of State and local general sales taxes</header>
<subsection id="H7DC683243A854B9A9EF3EB1E0D9BA10B"><enum>(a)</enum><header>In
general</header><text>Subparagraph (I) of section 164(b)(5) is amended by
striking <quote>January 1, 2012</quote> and inserting <quote>January 1,
2014</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="H968890F327AD4DECBBE380A4A559E1E1"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to taxable
years beginning after December 31, 2011.</text>
</subsection></section><section id="H34A41CDE81C84894A1B6DBE9F13933A8"><enum>116.</enum><header>Extension of
special rule for contributions of capital gain real property made for
conservation purposes</header>
<subsection id="HEF2B1EB91B6C4120998C169609BBCE98"><enum>(a)</enum><header>In
general</header><text>Clause (vi) of section 170(b)(1)(E) is amended by
striking <quote>December 31, 2011</quote> and inserting <quote>December 31,
2013</quote>.</text>
</subsection><subsection id="H851A0A6484E541319A86E6A89F5938EB"><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, 2011</quote> and
inserting <quote>December 31, 2013</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="HE625422F9E784441895F71B4E9C5053A"><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, 2011.</text>
</subsection></section><section commented="no" display-inline="no-display-inline" id="H260A8B0EE86547269BAAC910B1072136"><enum>117.</enum><header>Extension of
above-the-line deduction for qualified tuition and related expenses</header>
<subsection id="H03BCD677C801425AA4979D983403F76C"><enum>(a)</enum><header>In
general</header><text>Subsection (e) of section 222 is amended by striking
<quote>December 31, 2011</quote> and inserting <quote>December 31,
2013</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="HDD5E814D0520493D836E2325A0F3FC61"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to taxable
years beginning after December 31, 2011.</text>
</subsection></section><section id="H55400AE6A6904618A31718C04DB06915"><enum>118.</enum><header>Extension of
tax-free distributions from individual retirement plans for charitable
purposes</header>
<subsection id="H1F3ABDB8F51B4C358D26609F427A312D"><enum>(a)</enum><header>In
general</header><text>Subparagraph (F) of section 408(d)(8) is amended by
striking <quote>December 31, 2011</quote> and inserting <quote>December 31,
2013</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="idABAED21E8D004BADBA46E719DEC93027"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to
distributions made in taxable years beginning after December 31, 2011.</text>
</subsection></section></subtitle><subtitle id="idB371B57A6DD84ECE9CD860BEC063E1E6"><enum>C</enum><header>Tax
administration</header>
<section id="idEBFF480B7EF74C3BA4E33BC4738FF22C"><enum>121.</enum><header>Improve and
make permanent the provision authorizing the Internal Revenue Service to
disclose certain return and return information to certain prison
officials</header>
<subsection id="id5C2ADA3293EB435996B2E5DA924033ED"><enum>(a)</enum><header>In
general</header><text>Paragraph (10) of section 6103(k) of the Internal Revenue
Code of 1986 is amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="idF7E7163AC7D24DCD8DA407F437EF3E9F" style="OLC">
<paragraph id="id6efe1b28bd844df480e9779ee8d7330e"><enum>(10)</enum><header>Disclosure of
certain returns and return information to certain prison officials</header>
<subparagraph id="id72bc68c7b3fd49728f664768f5b0a8a3"><enum>(A)</enum><header>In
general</header><text>Under such procedures as the Secretary may prescribe, the
Secretary may disclose to officers and employees of the Federal Bureau of
Prisons and of any State agency charged with the responsibility for
administration of prisons any returns or return information with respect to
individuals incarcerated in Federal or State prison systems whom the Secretary
has determined may have filed or facilitated the filing of a false or
fraudulent return to the extent that the Secretary determines that such
disclosure is necessary to permit effective Federal tax administration.</text>
</subparagraph><subparagraph id="id5e908ca6308c47039578e3f49345c5f9"><enum>(B)</enum><header>Disclosure to
contractor-run prisons</header><text>Under such procedures as the Secretary may
prescribe, the disclosures authorized by subparagraph (A) may be made to
contractors responsible for the operation of a Federal or State prison on
behalf of such Bureau or agency.</text>
</subparagraph><subparagraph id="id5687ce9a1500424bb5febd9e95d21547"><enum>(C)</enum><header>Restrictions on
use of disclosed information</header><text>Any return or return information
received under this paragraph shall be used only for the purposes of and to the
extent necessary in taking administrative action to prevent the filing of false
and fraudulent returns, including administrative actions to address possible
violations of administrative rules and regulations of the prison facility and
in administrative and judicial proceedings arising from such administrative
actions.</text>
</subparagraph><subparagraph id="idd6ce0597cbf04b0c9e4bab78ea8d53b5"><enum>(D)</enum><header>Restrictions on
redisclosure and disclosure to legal
representatives</header><text>Notwithstanding subsection (h)—</text>
<clause id="idd1a4654faf7f4e839cffdde20969a2ea"><enum>(i)</enum><header>Restrictions on
redisclosure</header><text>Except as provided in clause (ii), any officer,
employee, or contractor of the Federal Bureau of Prisons or of any State agency
charged with the responsibility for administration of prisons shall not
disclose any information obtained under this paragraph to any person other than
an officer or employee or contractor of such Bureau or agency personally and
directly engaged in the administration of prison facilities on behalf of such
Bureau or agency.</text>
</clause><clause id="id3e892f310c584cc1929744830502134d"><enum>(ii)</enum><header>Disclosure to
legal representatives</header><text>The returns and return information
disclosed under this paragraph may be disclosed to the duly authorized legal
representative of the Federal Bureau of Prisons, State agency, or contractor
charged with the responsibility for administration of prisons, or of the
incarcerated individual accused of filing the false or fraudulent return who is
a party to an action or proceeding described in subparagraph (C), solely in
preparation for, or for use in, such action or
proceeding.</text>
</clause></subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection id="id7891821DC1444C138329509D006E5A00"><enum>(b)</enum><header>Conforming
amendments</header>
<paragraph id="id081A9A7AF37C47F58BEE3B61E551A14B"><enum>(1)</enum><text>Paragraph (3) of
section 6103(a) of the Internal Revenue Code of 1986 is amended by inserting
<quote>subsection (k)(10),</quote> after <quote>subsection
(e)(1)(D)(iii),</quote>.</text>
</paragraph><paragraph id="idEB7EC92560ED479F90F6803D49717069"><enum>(2)</enum><text>Paragraph (4) of
section 6103(p) of such Code is amended—</text>
<subparagraph id="id9D34AC4CC743405BA9AF82D52E183409"><enum>(A)</enum><text>by inserting
<quote>subsection (k)(10),</quote> before <quote>subsection (l)(10),</quote> in
the matter preceding subparagraph (A),</text>
</subparagraph><subparagraph id="idF08CB65E584B41BD9C367F2AD4B68CDE"><enum>(B)</enum><text>in subparagraph
(F)(i)—</text>
<clause id="idDDFE4E7D19754E03911D57A04DD7DBFE"><enum>(i)</enum><text>by
inserting <quote>(k)(10),</quote> before <quote>or (l)(6),</quote>, and</text>
</clause><clause id="idF49E1A60027D415581BD9B9A8B48D26F"><enum>(ii)</enum><text>by
inserting <quote>subsection (k)(10) or</quote> before <quote>subsection
(l)(10),</quote>, and</text>
</clause></subparagraph><subparagraph id="id97072262EED448CCABCDC95F990F3858"><enum>(C)</enum><text>by inserting
<quote>subsection (k)(10) or</quote> before <quote>subsection (l)(10),</quote>
both places it appears in the matter following subparagraph (F)(iii).</text>
</subparagraph></paragraph><paragraph id="id606699D93F56491E827DF1AF112953D0"><enum>(3)</enum><text>Paragraph (2) of
section 7213(a) of such Code is amended by inserting <quote>(k)(10),</quote>
before <quote>(l)(6),</quote>.</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="idADBA256EFA7A447DB96BB0445ED09A4F"><enum>(c)</enum><header>Effective
date</header><text>The amendments made by this section shall take effect on the
date of the enactment of this Act.</text>
</subsection></section><section id="idB633A7F8B94343B0A3724D730EE10994"><enum>122.</enum><header>Extension of
rule disregarding refunds in the administration of Federal programs and
Federally assisted programs</header>
<subsection id="id27B9B0589C6F428A97E35CCA9020D563"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline">Subsection (b) of
section 6409 is amended by striking <quote>December 31, 2012</quote> and
inserting <quote>December 31, 2013</quote>.</text>
</subsection><subsection id="id69172FA639954F64AAE883E221E71699"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to amounts
received after December 31, 2012.</text>
</subsection></section></subtitle><enum>II</enum><header>Business tax
extenders</header>
<section id="idB309AFD4F6A343819C73239AA9385CB1"><enum>201.</enum><header>Extension and
modification of research credit</header>
<subsection id="idBE77D01F6E174CA984B916B139A2CF90"><enum>(a)</enum><header>Extension</header>
<paragraph id="idBD398C3B73D04F2A8329EAA02D88ED8A"><enum>(1)</enum><header>In
general</header><text>Subparagraph (B) of section 41(h)(1) is amended by
striking <quote>December 31, 2011</quote> and inserting <quote>December 31,
2013</quote>.</text>
</paragraph><paragraph id="idCB3F3830CE17428CBA99F15E75DBC47C"><enum>(2)</enum><header>Conforming
amendment</header><text>Subparagraph (D) of section 45C(b)(1) is amended by
striking <quote>December 31, 2011</quote> and inserting <quote>December 31,
2013</quote>.</text>
</paragraph></subsection><subsection id="idEC9630C85A604805A3DBAD0730F3121A"><enum>(b)</enum><header>Inclusion of
qualified research expenses and gross receipts of an acquired person</header>
<paragraph id="idAE11F34F47614865912802E934081CC0"><enum>(1)</enum><header>Partial
inclusion of pre-acquisition qualified research expenses and gross
receipts</header><text>Subparagraph (A) of section 41(f)(3) is amended to read
as follows:</text>
<quoted-block act-name="" id="id234418A0AEF74C6B987CFE331F682CDE" style="OLC">
<subparagraph id="id19DE7458ECF8433A91347C5CF1BDEF39"><enum>(A)</enum><header>Acquisitions</header>
<clause id="idAF1D40CD27264B4DAE78E57700906567"><enum>(i)</enum><header>In
general</header><text>If a person acquires the major portion of either a trade
or business or a separate unit of a trade or business (hereinafter in this
paragraph referred to as the <quote>acquired business</quote>) of another
person (hereinafter in this paragraph referred to as the
<quote>predecessor</quote>), then the amount of qualified research expenses
paid or incurred by the acquiring person during the measurement period shall be
increased by the amount determined under clause (ii), and the gross receipts of
the acquiring person for such period shall be increased by the amount
determined under clause (iii).</text>
</clause><clause id="idA0B625DB7C3641CBBFAE185AC384CE6F"><enum>(ii)</enum><header>Amount
determined with respect to qualified research expenses</header><text>The amount
determined under this clause is—</text>
<subclause id="id0A578859B426403EA6E6A32261A70BB6"><enum>(I)</enum><text>for purposes of
applying this section for the taxable year in which such acquisition is made,
the acquisition year amount, and</text>
</subclause><subclause id="id6C4FF6BE9A8F43C4A65DDDCCF378953F"><enum>(II)</enum><text>for purposes of
applying this section for any taxable year after the taxable year in which such
acquisition is made, so much of the qualified research expenses paid or
incurred by the predecessor with respect to the acquired business during the
measurement period.</text>
</subclause></clause><clause id="id70D2F1680BCE4791A5DC4C73E38A4BCF"><enum>(iii)</enum><header>Amount
determined with respect to gross receipts</header><text>The amount determined
under this clause is the amount which would be determined under clause (ii) if
<quote>the gross receipts of</quote> were substituted for <quote>the qualified
research expenses paid or incurred by</quote> each place it appears in clauses
(ii) and (iv).</text>
</clause><clause id="id80C2DBBFD59A4405B2BAEF3923EE643B"><enum>(iv)</enum><header>Acquisition
year amount</header><text>For purposes of clause (ii), the acquisition year
amount is the amount equal to the product of—</text>
<subclause id="id56F46F7CD01B44FC9326F8AAF138183F"><enum>(I)</enum><text>so much of the
qualified research expenses paid or incurred by the predecessor with respect to
the acquired business during the measurement period, and</text>
</subclause><subclause id="idC712F41699C1417D839BFD987959BDA3"><enum>(II)</enum><text>the number of
days in the period beginning on the date of the acquisition and ending on the
last day of the taxable year in which the acquisition is made,</text>
</subclause><continuation-text continuation-text-level="clause">divided by
the number of days in the acquiring person's taxable year.</continuation-text></clause><clause id="idAB32445247984F719AB8225BA3E20AA2"><enum>(v)</enum><header>Special rules
for coordinating taxable years</header><text>In the case of an acquiring person
and a predecessor whose taxable years do not begin on the same date—</text>
<subclause id="idB8B62C0C27D74AD5A7E6F8F2383F2CF2"><enum>(I)</enum><text>each reference to
a taxable year in clauses (i), (ii), and (iv) shall refer to the appropriate
taxable year of the acquiring person,</text>
</subclause><subclause id="id49E669F94EDE422A81FDB23FCA68E3A2"><enum>(II)</enum><text>the qualified
research expenses paid or incurred by the predecessor, and the gross receipts
of the predecessor, during each taxable year of the predecessor any portion of
which is part of the measurement period shall be allocated equally among the
days of such taxable year,</text>
</subclause><subclause id="id869FF889DDFB47CB8FD8E32737725DC5"><enum>(III)</enum><text>the amount of
such qualified research expenses taken into account under clauses (ii) and (iv)
with respect to a taxable year of the acquiring person shall be equal to the
total of the expenses attributable under subclause (II) to the days occurring
during such taxable year, and</text>
</subclause><subclause id="id86661782E5F94548B61B0F6CA1050BE4"><enum>(IV)</enum><text>the amount of
such gross receipts taken into account under clause (iii) with respect to a
taxable year of the acquiring person shall be equal to the total of the gross
receipts attributable under subclause (II) to the days occurring during such
taxable year.</text>
</subclause></clause><clause id="id305584FD61DF434F9A625EC3868AB162"><enum>(vi)</enum><header>Measurement
period</header><text>For purposes of this subparagraph, the term
<term>measurement period</term> means, with respect to the taxable year in
which the credit is determined, any period of the acquiring person preceding
such taxable year which is taken into account for purposes of determining the
credit for such
year.</text>
</clause></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="id8D0763FC80354247B7346450D779B28B"><enum>(2)</enum><header>Expenses and
gross receipts of a disposing person</header><text>Subparagraph (B) of section
41(f)(3) is amended to read as follows:</text>
<quoted-block display-inline="no-display-inline" id="id6586FEB6E19A41F2998CB810999578E5" style="OLC">
<subparagraph id="P90188922AF66402B9E94D72BE9F8C498"><enum>(B)</enum><header>Dispositions</header><text>If
a person disposes of the major portion of either a trade or business or a
separate unit of a trade or business in a transaction to which subparagraph (A)
applies, and the disposing person furnished to the acquiring person such
information as is necessary for the application of subparagraph (A), then, for
purposes of applying this section for any taxable year ending after such
disposition—</text>
<clause id="id333DE26B6ED7408A931EC885064D3B30"><enum>(i)</enum><text>the amount of
qualified research expenses paid or incurred by the disposing person during the
measurement period (as defined in subparagraph (A)(vi)) shall be decreased by
the amount of the increase in qualified research expenses determined under
subparagraph (A) with respect to the acquiring person for such taxable year,
and</text>
</clause><clause id="id25EEF55E45C94391B1E4635546A86C40"><enum>(ii)</enum><text>the gross
receipts of the disposing person during the measurement period (as so defined)
shall be decreased by the amount of the increase in gross receipts determined
under subparagraph (A) with respect to the acquiring person for such taxable
year.</text>
</clause></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection id="id44444E34CA3E4EB29DE7B2A80821FC7F"><enum>(c)</enum><header>Aggregation of
expenditures</header><text>Paragraph (1) of section 41(f) is amended—</text>
<paragraph id="id1D3CCFB8E07B4422B2E51A0F191F5492"><enum>(1)</enum><text>by striking
<quote>shall be its proportionate shares of the qualified research expenses,
basic research payments, and amounts paid or incurred to energy research
consortiums, giving rise to the credit</quote> in subparagraph (A)(ii) and
inserting <quote>shall be determined on a proportionate basis to its share of
the aggregate of the qualified research expenses, basic research payments, and
amounts paid or incurred to energy research consortiums, taken into account by
such controlled group for purposes of this section</quote>, and</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="id5569AAC6C1B842F788C5F8F12B43161D"><enum>(2)</enum><text>by striking
<quote>shall be its proportionate shares of the qualified research expenses,
basic research payments, and amounts paid or incurred to energy research
consortiums, giving rise to the credit</quote> in subparagraph (B)(ii) and
inserting <quote>shall be determined on a proportionate basis to its share of
the aggregate of the qualified research expenses, basic research payments, and
amounts paid or incurred to energy research consortiums, taken into account by
all such persons under common control for purposes of this
section</quote>.</text>
</paragraph></subsection><subsection id="id2D057EEADFC24406AB808A8D78FCF4A1"><enum>(d)</enum><header>Effective
date</header>
<paragraph commented="no" display-inline="no-display-inline" id="id26ACB97E0393434A9A736F2F196564C4"><enum>(1)</enum><header>Extension</header><text>The
amendments made by subsection (a) shall apply to amounts paid or incurred after
December 31, 2011.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="id202021CF7E4049D0A652F991119F042A"><enum>(2)</enum><header>Modifications</header><text>The
amendments made by subsections (b) and (c) shall apply to taxable years
beginning after December 31, 2011.</text>
</paragraph></subsection></section><section commented="no" id="idF8EF912D81604D99A33EB2A4244A2B98"><enum>202.</enum><header>Extension of
temporary minimum low-income tax credit rate for non-federally subsidized new
buildings</header>
<subsection commented="no" id="idA3AD53EEA7B747979BB3D5973A444C13"><enum>(a)</enum><header>In
general</header><text>Subparagraph (A) of section 42(b)(2) is amended by
striking <quote>and before December 31, 2013</quote> and inserting <quote>with
respect to housing credit dollar amount allocations made before January 1,
2014</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="idDD889D58E6084BAFA468AC3C8B8FA4D4"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall take effect on the
date of the enactment of this Act.</text>
</subsection></section><section id="idc9146f5f561e4744a3cd43f332662b7e"><enum>203.</enum><header>Extension of
housing allowance exclusion for determining area median gross income for
qualified residential rental project exempt facility bonds</header>
<subsection id="ide4cfbb528afe4307822da9d1db3c3c30"><enum>(a)</enum><header>In
general</header><text>Subsection (b) of section 3005 of the Housing Assistance
Tax Act of 2008 is amended by striking <quote>January 1, 2012</quote> each
place it appears and inserting <quote>January 1, 2014</quote>.</text>
</subsection><subsection id="idb98d23c1a918437f9cd5374df70e7d93"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall take effect as if
included in the enactment of section 3005 of the Housing Assistance Tax Act of
2008.</text>
</subsection></section><section id="H8BB105F7978B40C0856D1196BFEAEC4A"><enum>204.</enum><header>Extension of
Indian employment tax credit</header>
<subsection id="HF6B834DE84834F9EACC0FC21C9BAE58D"><enum>(a)</enum><header>In
general</header><text>Subsection (f) of section 45A is amended by striking
<quote>December 31, 2011</quote> and inserting <quote>December 31,
2013</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="H01FB883B9DA549C393576E85BA06C777"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to taxable
years beginning after December 31, 2011.</text>
</subsection></section><section commented="no" display-inline="no-display-inline" id="id0E9DCF9E588545CFB9699858108C3559"><enum>205.</enum><header>Extension of
new markets tax credit</header>
<subsection id="ID234c836b969e4045b938602508eed822"><enum>(a)</enum><header>In
general</header><text>Subparagraph (G) of section 45D(f)(1) is amended by
striking <quote>2010 and 2011</quote> and inserting <quote>2010, 2011, 2012,
and 2013</quote>.</text>
</subsection><subsection id="id62CA63A3077B4BB7941D0C89E992444B"><enum>(b)</enum><header>Carryover of
unused limitation</header><text>Paragraph (3) of section 45D(f) is amended by
striking <quote>2016</quote> and inserting <quote>2018</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="id7869C94AD05041DF99973CF542C9790A"><enum>(c)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to calendar
years beginning after December 31, 2011.</text>
</subsection></section><section commented="no" display-inline="no-display-inline" id="id5AEDBB6007CA4E12917C447F5EE4994E"><enum>206.</enum><header>Extension of
railroad track maintenance credit</header>
<subsection commented="no" display-inline="no-display-inline" id="id652FDEF1417043E89B653D36FFB91E47"><enum>(a)</enum><header>In
general</header><text>Subsection (f) of section 45G is amended by striking
<quote>January 1, 2012</quote> and inserting <quote>January 1,
2014</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="id8C5FD363565D424D87B9A76C68F26D69"><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,
2011.</text>
</subsection></section><section id="HAC8131F41CD94738ACEADF770ADE4C6D"><enum>207.</enum><header>Extension of
mine rescue team training credit</header>
<subsection id="H3EFB7D10141D4BE4A4A55AD40312E127"><enum>(a)</enum><header>In
general</header><text>Subsection (e) of section 45N is amended by striking
<quote>December 31, 2011</quote> and inserting <quote>December 31,
2013</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="H4800015767AE47D2A5FFA1AD695321E2"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to taxable
years beginning after December 31, 2011.</text>
</subsection></section><section commented="no" display-inline="no-display-inline" id="id3ADED11346154D079E6C353560C4A6A6"><enum>208.</enum><header>Extension of
employer wage credit for employees who are active duty members of the uniformed
services</header>
<subsection commented="no" display-inline="no-display-inline" id="id0F18C93BEA1E4204A31B419EE8EA981A"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline">Subsection (f) of
section 45P is amended by striking <quote>December 31, 2011</quote> and
inserting <quote>December 31, 2013</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="id4A381A02763C473CAC01C83C5D0A97BC"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to payments
made after December 31, 2011.</text>
</subsection></section><section commented="no" display-inline="no-display-inline" id="idF118728D29BF4F9AB5B7BE9BA589F577"><enum>209.</enum><header>Extension of
work opportunity tax credit</header>
<subsection commented="no" display-inline="no-display-inline" id="id2452166D0B9F4D4C98BC64712C9B0F0E"><enum>(a)</enum><header>In
general</header><text>Subparagraph (B) of section 51(c)(4) is amended by
striking <quote>after</quote> and all that follows and inserting <quote>after
December 31, 2013</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="idCCC1790299A543C5B7ABE8C5D8E392D7"><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 December 31, 2011.</text>
</subsection></section><section commented="no" display-inline="no-display-inline" id="idBEE6243898E24939A669871AD7FE1E4B"><enum>210.</enum><header>Extension of
qualified zone academy bonds</header>
<subsection commented="no" display-inline="no-display-inline" id="id949E2C40D521436FACDC360945E5B97D"><enum>(a)</enum><header>In
general</header><text>Paragraph (1) of section 54E(c) is amended by inserting
<quote>, 2012, and 2013</quote> after <quote>for 2011</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="id20CCAB82F2DC46509E2C810CB82D29EB"><enum>(b)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to
obligations issued after December 31, 2011.</text>
</subsection></section><section id="ID4c18aba8892548f1863bf887252edea8"><enum>211.</enum><header>Extension of
15-year straight-line cost recovery for qualified leasehold improvements,
qualified restaurant buildings and improvements, and qualified retail
improvements</header>
<subsection id="ID252df003ef6d44cebb4c2f500081cfb0"><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, 2012</quote> and inserting
<quote>January 1, 2014</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="ID098f6ee79fda427ca10be6d9c7c288c0"><enum>(b)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to property
placed in service after December 31, 2011.</text>
</subsection></section><section id="H69DAAE0A686D4BC684299C4BC5B7729A"><enum>212.</enum><header>Extension of
7-year recovery period for motorsports entertainment complexes</header>
<subsection id="H62763B45DDAC42FD98CF7736E72FB1F7"><enum>(a)</enum><header>In
general</header><text>Subparagraph (D) of section 168(i)(15) is amended by
striking <quote>December 31, 2011</quote> and inserting <quote>December 31,
2013</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="H44CDC564B193492E9AE4BCF36CB18573"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to property
placed in service after December 31, 2011.</text>
</subsection></section><section id="H3D73C0501AD946C4AA964BE5B357C937"><enum>213.</enum><header>Extension of
accelerated depreciation for business property on an Indian
reservation</header>
<subsection id="H5A8C17F7CB754F1E8364BFAFF19D57F8"><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, 2011</quote> and
inserting <quote>December 31, 2013</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="H1FE5DBC50F0D41E19046FA8B33C225DE"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to property
placed in service after December 31, 2011.</text>
</subsection></section><section id="ID3c7d2ac5ed7f4abb9a1ce44621ad529c"><enum>214.</enum><header>Extension of
enhanced charitable deduction for contributions of food inventory</header>
<subsection id="IDa25148837e1845faa10df474e4923566"><enum>(a)</enum><header>In
general</header><text>Clause (iv) of section 170(e)(3)(C) is amended by
striking <quote>December 31, 2011</quote> and inserting <quote>December 31,
2013</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="IDbe8f16944c184d099e9db3d66165bd46"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to
contributions made after December 31, 2011.</text>
</subsection></section><section id="idC3D5BA34547F435BBB7BC49F43B386AB"><enum>215.</enum><header>Extension of
increased expensing limitations and treatment of certain real property as
section 179 property</header>
<subsection id="id804864BE64624882B6BABAD507BC98C0"><enum>(a)</enum><header>In
general</header>
<paragraph id="id0C320AC1FE394E26BE61C8EE7A23A995"><enum>(1)</enum><header>Dollar
limitation</header><text>Section 179(b)(1) is amended—</text>
<subparagraph id="idE03A584521A147BFADEB948850AE4668"><enum>(A)</enum><text>by striking
<quote>2010 or 2011,</quote> in subparagraph (B) and inserting <quote>2010,
2011, 2012, or 2013, and</quote>,</text>
</subparagraph><subparagraph id="idAF700EA7BFAF4576B8DB827E7BE1C08D"><enum>(B)</enum><text>by striking
subparagraph (C),</text>
</subparagraph><subparagraph id="id0940AA022172402AA3A6229DE3E0B35E"><enum>(C)</enum><text>by redesignating
subparagraph (D) as subparagraph (C), and</text>
</subparagraph><subparagraph id="id3F022D2D135243A0B1B3D841A049864F"><enum>(D)</enum><text>in subparagraph
(C), as so redesignated, by striking <quote>2012</quote> and inserting
<quote>2013</quote>.</text>
</subparagraph></paragraph><paragraph id="id5A55439269804286BBAAD1F363109085"><enum>(2)</enum><header>Reduction in
limitation</header><text>Section 179(b)(2) is amended—</text>
<subparagraph id="idE9857C94EA784ABBB30B35A0B98A47A6"><enum>(A)</enum><text>by striking
<quote>2010 or 2011,</quote> in subparagraph (B) and inserting <quote>2010,
2011, 2012, or 2013, and</quote>,</text>
</subparagraph><subparagraph id="id63CD725951B24E29B4340419CED98554"><enum>(B)</enum><text>by striking
subparagraph (C),</text>
</subparagraph><subparagraph id="id9D6EDB8AE35B448880786539EC0C847A"><enum>(C)</enum><text>by redesignating
subparagraph (D) as subparagraph (C), and</text>
</subparagraph><subparagraph id="id876DDBD2A4894A09A3FE73199C123004"><enum>(D)</enum><text>in subparagraph
(C), as so redesignated, by striking <quote>2012</quote> and inserting
<quote>2013</quote>.</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="id7DEFE4E854BF4CF78A84F98C6F3B53F7"><enum>(3)</enum><header>Conforming
amendment</header><text>Subsection (b) of section 179 is amended by striking
paragraph (6).</text>
</paragraph></subsection><subsection id="id8F35BF2FA3584714AA10EE1845C8F500"><enum>(b)</enum><header>Computer
software</header><text>Section 179(d)(1)(A)(ii) is amended by striking
<quote>2013</quote> and inserting <quote>2014</quote>.</text>
</subsection><subsection id="id61C4C314B1E64C8F995D86831A595BDE"><enum>(c)</enum><header>Election</header><text>Section
179(c)(2) is amended by striking <quote>2013</quote> and inserting
<quote>2014</quote>.</text>
</subsection><subsection id="id28964FBB89BE446C841D632616D4143A"><enum>(d)</enum><header>Special rules
for treatment of qualified real property</header>
<paragraph id="id58E00219C2D645A69CB102BB8F210553"><enum>(1)</enum><header>In
general</header><text>Section 179(f)(1) is amended by striking <quote>2010 or
2011</quote> and inserting <quote>2010, 2011, 2012, or 2013</quote>.</text>
</paragraph><paragraph id="id96f115a2649f4e6bb6f25f452a8e0df3"><enum>(2)</enum><header>Carryover
limitation</header>
<subparagraph id="id067d8afdc4da43f6bb3533aa933f5456"><enum>(A)</enum><header>In
general</header><text>Section 179(f)(4) is amended by striking
<quote>2011</quote> each place it appears and inserting
<quote>2013</quote>.</text>
</subparagraph><subparagraph id="id0B6EBB824A9F45B6BF6863C82F593F91"><enum>(B)</enum><header>Conforming
amendment</header><text>Subparagraph (C) of section 179(f)(4) is
amended—</text>
<clause id="id7D219F8463ED4CD593AFE56BA43A48D4"><enum>(i)</enum><text>in
the heading, by striking <quote>2010</quote> and inserting <quote>2010, 2011
<header-in-text level="subparagraph" style="OLC">and</header-in-text>
2012</quote>, and</text>
</clause><clause id="id35662BFCF4EA45E2B3730A57B80A3173"><enum>(ii)</enum><text>by
adding at the end the following: <quote>For the last taxable year beginning in
2013, the amount determined under subsection (b)(3)(A) for such taxable year
shall be determined without regard to this paragraph.</quote>.</text>
</clause></subparagraph></paragraph></subsection><subsection id="id4815EC49C6934A1E80DD03E0398B42A3"><enum>(e)</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><section commented="no" display-inline="no-display-inline" id="HAAE1C394D51B45048AD67F9B39788A9D"><enum>216.</enum><header>Extension of
election to expense mine safety equipment</header>
<subsection id="H2A8222C2D53E425583AA5C884A02F451"><enum>(a)</enum><header>In
general</header><text>Subsection (g) of section 179E is amended by striking
<quote>December 31, 2011</quote> and inserting <quote>December 31,
2013</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="H383F7CB36C10473692D955E199F33615"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to property
placed in service after December 31, 2011.</text>
</subsection></section><section commented="no" display-inline="no-display-inline" id="HF7601E819BDA45D082C1535DC78513E3"><enum>217.</enum><header>Extension of
special expensing rules for certain film and television productions</header>
<subsection id="H1FEC2FD715C24B13A69EDEA4C3E0143B"><enum>(a)</enum><header>In
general</header><text>Subsection (f) of section 181 is amended by striking
<quote>December 31, 2011</quote> and inserting <quote>December 31,
2013</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="HB771FC88F30E4FC9BEE09EF6A120CEF8"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to
productions commencing after December 31, 2011.</text>
</subsection></section><section id="id9414BB0A00E44D74BAF71332E769BB81"><enum>218.</enum><header>Extension of
deduction allowable with respect to income attributable to domestic production
activities in Puerto Rico</header>
<subsection id="idDAD54FAD94BA4C8DAF0D5D3F7044D805"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline">Subparagraph (C) of
section 199(d)(8) is amended—</text>
<paragraph id="id0C7D76653B0740A2A31682E99E2BD166"><enum>(1)</enum><text display-inline="yes-display-inline">by striking <quote>first 6 taxable
years</quote> and inserting <quote>first 8 taxable years</quote>, and</text>
</paragraph><paragraph id="idCEA8022CAD5F4A52A9F1194E5306F544"><enum>(2)</enum><text>by striking
<quote>January 1, 2012</quote> and inserting <quote>January 1,
2014</quote>.</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="id6EE4AAAA8FC146AA977BA0B469ACAD70"><enum>(b)</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><section id="HDB3E244DE3AC4353872A7DEB56C461D2"><enum>219.</enum><header>Extension of
modification of tax treatment of certain payments to controlling exempt
organizations</header>
<subsection id="HE651A7073D6F428CA265887BA8361990"><enum>(a)</enum><header>In
general</header><text>Clause (iv) of section 512(b)(13)(E) is amended by
striking <quote>December 31, 2011</quote> and inserting <quote>December 31,
2013</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="H6510D0FCC55B4DFE99BD6D2BFE3BB54B"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to payments
received or accrued after December 31, 2011.</text>
</subsection></section><section id="HD1064D8DE2884020B69D58671651A3AE"><enum>220.</enum><header>Extension of
treatment of certain dividends of regulated investment companies</header>
<subsection id="H684963D829FC440D9C1DF4B07892DFEA"><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, 2011</quote> and inserting
<quote>December 31, 2013</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="H4A6EB8702DA24FB6834A47E4D75D5B8D"><enum>(b)</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><section commented="no" display-inline="no-display-inline" id="HB8CD4D149AA843D8BD7513092FA980AB"><enum>221.</enum><header>Extension of
RIC qualified investment entity treatment under FIRPTA</header>
<subsection id="HCE509BC160564EFF9EE2D07F80CF5F1F"><enum>(a)</enum><header>In
general</header><text>Clause (ii) of section 897(h)(4)(A) is amended by
striking <quote>December 31, 2011</quote> and inserting <quote>December 31,
2013</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, 2012. 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, 2011, 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 commented="no" 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="id4B61EB7A3A20408695F0154D7E012F5C"><enum>222.</enum><header>Extension of
subpart F exception for active financing income</header>
<subsection id="id2033ECE2E4E1402FBECB24A1BC6F66B9"><enum>(a)</enum><header>Exempt
insurance income</header><text display-inline="yes-display-inline">Paragraph
(10) of section 953(e) is amended—</text>
<paragraph id="id3E8EE2DED1C54B89844BA16EFC4B7ACC"><enum>(1)</enum><text display-inline="yes-display-inline">by striking <quote>January 1, 2012</quote>
and inserting <quote>January 1, 2014</quote>, and</text>
</paragraph><paragraph id="id30C5DB24E1994D9B907DAB668563ED26"><enum>(2)</enum><text>by striking
<quote>December 31, 2011</quote> and inserting <quote>December 31,
2013</quote>.</text>
</paragraph></subsection><subsection id="id816C175F53D0418B8C28ADA9B20DB1E6"><enum>(b)</enum><header>Special rule
for income derived in the active conduct of banking, financing, or similar
businesses</header><text>Paragraph (9) of section 954(h) is amended by striking
<quote>January 1, 2012</quote> and inserting <quote>January 1,
2014</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="id11BA655CE71D400B8069367A3C6771CB"><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, 2011, 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="id5273585106854911AB73AB90EAB207B3"><enum>223.</enum><header>Extension of
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="id7CD4D33AAA3E479DA5136476429490B5"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline">Subparagraph (C) of
section 954(c)(6) is amended by striking <quote>January 1, 2012</quote> and
inserting <quote>January 1, 2014</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="id349168882C7E4745A5DBF9DA2F9C8364"><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, 2011, and to taxable
years of United States shareholders with or within which such taxable years of
foreign corporations end.</text>
</subsection></section><section id="idE5F38DA335E447C3B656FE4E4B0D0E89"><enum>224.</enum><header>Extension of
temporary exclusion of 100 percent of gain on certain small business
stock</header>
<subsection id="id9B420680F9DF4B428BFEBB07F57AEA41"><enum>(a)</enum><header>In
general</header><text>Paragraph (4) of section 1202(a) is amended—</text>
<paragraph id="id84AB2A372F204883B3D8F3EA6765CA5A"><enum>(1)</enum><text>by striking
<quote>January 1, 2012</quote> and inserting <quote>January 1, 2014</quote>,
and</text>
</paragraph><paragraph id="id48E8A7BB257241C996C2E1AB068FE0BC"><enum>(2)</enum><text>by striking
<quote><header-in-text level="paragraph" style="OLC">and</header-in-text>
2011</quote> and inserting <quote>, 2011, 2012,
<header-in-text level="paragraph" style="OLC">and</header-in-text> 2013</quote>
in the heading thereof.</text>
</paragraph></subsection><subsection commented="no" id="id0D2F6C531CE84740AEF1201DB243858B"><enum>(b)</enum><header>Technical
amendments</header>
<paragraph commented="no" id="idC2C21A7C1A9D464ABD9629C867C201DD"><enum>(1)</enum><header>Special rule
for 2009 and certain period in 2010</header><text>Paragraph (3) of section
1202(a) is amended by adding at the end the following new flush
sentence:</text>
<continuation-text commented="no" continuation-text-level="paragraph"><quote>In the case of any stock which
would be described in the preceding sentence (but for this sentence), the
acquisition date for purposes of this subsection shall be the first day on
which such stock was held by the taxpayer determined after the application of
section 1223.</quote>.</continuation-text></paragraph><paragraph commented="no" id="id63373A0DCA07466A99C9771D44776402"><enum>(2)</enum><header>100 percent
exclusion</header><text>Paragraph (4) of section 1202(a) is amended by adding
at the end the following new flush sentence:</text>
<continuation-text commented="no" continuation-text-level="paragraph"><quote>In the case of any stock which
would be described in the preceding sentence (but for this sentence), the
acquisition date for purposes of this subsection shall be the first day on
which such stock was held by the taxpayer determined after the application of
section 1223.</quote>.</continuation-text></paragraph></subsection><subsection commented="no" id="idBA123E97794741FD979DFD934682FD37"><enum>(c)</enum><header>Effective
dates</header>
<paragraph commented="no" id="id5A692B4986DB44EABF1F48C94547DFD9"><enum>(1)</enum><header>In
general</header><text>The amendments made by subsection (a) shall apply to
stock acquired after December 31, 2011.</text>
</paragraph><paragraph commented="no" id="idDA8BDEB40E1A422A8056B4220F43CA18"><enum>(2)</enum><header>Subsection
<enum-in-header>(b)(1)</enum-in-header></header><text>The amendment made by
subsection (b)(1) shall take effect as if included in section 1241(a) of
division B of the American Recovery and Reinvestment Act of 2009.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="id4052596CC5464F2ABC28ADBD533CD834"><enum>(3)</enum><header>Subsection
<enum-in-header>(b)(2)</enum-in-header></header><text>The amendment made by
subsection (b)(2) shall take effect as if included in section 2011(a) of the
Creating Small Business Jobs Act of 2010.</text>
</paragraph></subsection></section><section id="H2A2966771BEC4A7FA9A4E18A602D6F26"><enum>225.</enum><header>Extension of
basis adjustment to stock of S corporations making charitable contributions of
property</header>
<subsection id="H9B3D2D86A2CF4AA4934739786880EE0A"><enum>(a)</enum><header>In
general</header><text>Paragraph (2) of section 1367(a) is amended by striking
<quote>December 31, 2011</quote> and inserting <quote>December 31,
2013</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="H59C54F515D2646D89DC8FBF2033E63A8"><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, 2011.</text>
</subsection></section><section id="idA5BA386067BF411DBF3B7AC303DB56B0"><enum>226.</enum><header>Extension of
reduction in S-corporation recognition period for built-in gains tax</header>
<subsection id="idB42328F108FA4C4F9F2616C07D0618FE"><enum>(a)</enum><header>In
general</header><text>Paragraph (7) of section 1374(d) is amended—</text>
<paragraph id="id8E51D311E14C4628B27967036728F223"><enum>(1)</enum><text>by redesignating
subparagraph (C) as subparagraph (D), and</text>
</paragraph><paragraph id="idD28D1479C5824A259B243AFB26801C88"><enum>(2)</enum><text>by inserting
after subparagraph (B) the following new subparagraph:</text>
<quoted-block act-name="" id="idF43F0C709F8144D7B8872391A6B07182" style="OLC">
<subparagraph id="id026A5F8A93684116808F5FAD8AEF81F7"><enum>(C)</enum><header>Special rule
for 2012 and 2013</header><text>For dispositions of property in taxable years
beginning in 2012 or 2013, subparagraphs (A) and (D) shall be applied by
substituting <quote>5-year</quote> for
<quote>10-year</quote>.</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection id="id746E2C67D0F24639BE460775F4789104"><enum>(b)</enum><header>Technical
amendment</header><text>Subparagraph (B) of section 1374(d)(2) is amended by
inserting <quote>described in subparagraph (A)</quote> after <quote>, for any
taxable year</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="id691BD72EBE35488E9F081B209D01228B"><enum>(c)</enum><header>Effective
date</header><text>The amendments made by subsection (a) shall apply to taxable
years beginning after December 31, 2011.</text>
</subsection></section><section id="HD775FE95F80E47DAA82243AA771E89B9"><enum>227.</enum><header>Extension of
empowerment zone tax incentives</header>
<subsection id="HB06DF2C5D3844F8DB1C9D979DAB597C7"><enum>(a)</enum><header>In
general</header><text>Clause (i) of section 1391(d)(1)(A) is amended by
striking <quote>December 31, 2011</quote> and inserting <quote>December 31,
2013</quote>.</text>
</subsection><subsection id="HD72202EFBE35476EA8045F686B2C7BE7"><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="HADEF9DD6E75E424EA9F9B1955CB3F863"><enum>(1)</enum><text>by striking
<quote>December 31, 2016</quote> and inserting <quote>December 31,
2018</quote>; and</text>
</paragraph><paragraph id="H7F71E22125E640C2A4A6C71687A4AEDC"><enum>(2)</enum><text>by striking
<quote><header-in-text level="subparagraph" style="OLC">2016</header-in-text></quote> in the heading and inserting
<quote><header-in-text level="subparagraph" style="OLC">2018</header-in-text></quote>.</text>
</paragraph></subsection><subsection commented="no" id="HE9252D54E8D3454DB6BDA23A17F65366"><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="H6671943D5C394CD5B477885C23B2891E"><enum>(d)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to periods
after December 31, 2011.</text>
</subsection></section><section commented="no" display-inline="no-display-inline" id="idE0F25A70E3C84722A57F36D09C49B57A"><enum>228.</enum><header>Extension of
tax-exempt financing for New York Liberty Zone</header>
<subsection commented="no" display-inline="no-display-inline" id="idEBCB8868545244158626659DD23C2450"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline">Subparagraph (D) of
section 1400L(d)(2) is amended by striking <quote>January 1, 2012</quote> and
inserting <quote>January 1, 2014</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="id742B964585964074B0D4F54ED40C5112"><enum>(b)</enum><header>Effective
date</header><text display-inline="yes-display-inline">The amendment made by
this section shall apply to bonds issued after December 31, 2011.</text>
</subsection></section><section id="H89164019406A4C209769ACB949519E86"><enum>229.</enum><header>Extension of
temporary increase in limit on cover over of rum excise taxes to Puerto Rico
and the Virgin Islands</header>
<subsection id="HC5E00B2889CD4401B6EC15EA5C6BB531"><enum>(a)</enum><header>In
general</header><text>Paragraph (1) of section 7652(f) is amended by striking
<quote>January 1, 2012</quote> and inserting <quote>January 1,
2014</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="H4045F64FD5AD4628A17C69BF7D89DEA4"><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, 2011.</text>
</subsection></section><section commented="no" display-inline="no-display-inline" id="idDFF8817E9E1243228274FD0342745EB3"><enum>230.</enum><header>Modification
and extension of American Samoa economic development credit</header>
<subsection commented="no" display-inline="no-display-inline" id="id03B8BCFA84594658B1E0D9869CCD210C"><enum>(a)</enum><header>Modification</header>
<paragraph commented="no" display-inline="no-display-inline" id="id552A88C758D34D6AA14D62569979139D"><enum>(1)</enum><header>In
general</header><text>Subsection (a) of section 119 of division A of the Tax
Relief and Health Care Act of 2006 is amended by striking <quote>if such
corporation</quote> and all that follows and
inserting</text>
<quoted-block display-inline="yes-display-inline" id="id295485F5E11E4CDA99B39EA7F930AEEE" style="OLC">
<text>if—</text><paragraph commented="no" display-inline="no-display-inline" id="id5962E28845B34BFC9595973F04009B02"><enum>(1)</enum><text>in the case of a
taxable year beginning before January 1, 2012, such corporation—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="id3538F039E99045018E2AE97FA0ECF728"><enum>(A)</enum><text>is an existing
credit claimant with respect to American Samoa, and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="id12C45184C56746F6BF521E1940D642D4"><enum>(B)</enum><text>elected the
application of section 936 of the Internal Revenue Code of 1986 for its last
taxable year beginning before January 1, 2006, and</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="idBE8DEB1308994A348E28BEA864D7EEBA"><enum>(2)</enum><text>in the case of a
taxable year beginning after December 31, 2011, such corporation meets the
requirements of subsection
(e).</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="idE5ABBD544692449DA21E90DA4638F5EC"><enum>(2)</enum><header>Requirements</header><text>Section
119 of division A of such Act is amended by adding at the end the following new
subsection:</text>
<quoted-block display-inline="no-display-inline" id="id557AE42BF4FB442A84770CB9CBEB4CF5" style="OLC">
<subsection commented="no" display-inline="no-display-inline" id="id5182D1936A6B46FA8DE48A9D26DBDF54"><enum>(e)</enum><header>Qualified
production activities income requirement</header><text>A corporation meets the
requirement of this subsection if such corporation has qualified production
activities income, as defined in subsection (c) of section 199 of the Internal
Revenue Code of 1986, determined by substituting <quote>American Samoa</quote>
for <quote>the United States</quote> each place it appears in paragraphs (3),
(4), and (6) of such subsection (c), for the taxable
year.</text>
</subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="idDED726C6C6C6480CA0887553456B8D7C"><enum>(b)</enum><header>Extension</header><text>Subsection
(d) of section 119 of division A of the Tax Relief and Health Care Act of 2006
is amended by striking <quote>shall apply</quote> and all that follows and
inserting</text>
<quoted-block display-inline="yes-display-inline" id="idEFD606FE626A481DAB01866661156328" style="OLC">
<text>shall
apply—</text><paragraph commented="no" display-inline="no-display-inline" id="id2C31A5018100450AA56D28F6F6734775"><enum>(1)</enum><text>in the case of a
corporation that meets the requirements of subparagraphs (A) and (B) of
subsection (a)(1), to the first 8 taxable years of such corporation which begin
after December 31, 2006, and before January 1, 2014, and</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="id7E18B223C9444A29A49930F14A69B4FA"><enum>(2)</enum><text>in the case of a
corporation that does not meet the requirements of subparagraphs (A) and (B) of
subsection (a)(1), to the first 2 taxable years of such corporation which begin
after December 31, 2011, and before January 1,
2014.</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection commented="no" display-inline="no-display-inline" id="id6A3C8AD6C5234F3DA1137181062B22F9"><enum>(c)</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,
2011.</text>
</subsection></section><enum>III</enum><header>Energy tax
extenders</header>
<section commented="no" display-inline="no-display-inline" id="id8DE42ECC4D584EB4AB2137FB77340102"><enum>301.</enum><header>Extension of
credit for energy-efficient existing homes</header>
<subsection commented="no" display-inline="no-display-inline" id="idE95EA88F06FC44C1B24238FEB9888237"><enum>(a)</enum><header>In
general</header><text>Paragraph (2) of section 25C(g) is amended by striking
<quote>December 31, 2011</quote> and inserting <quote>December 31,
2013</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="id8D47FAD3D5DA405E82D12469C23C3077"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to property
placed in service after December 31, 2011.</text>
</subsection></section><section id="id5196b4c3a10d41478827de092d36ef6d"><enum>302.</enum><header>Extension of
credit for alternative fuel vehicle refueling property</header>
<subsection id="id98bb6186614d481b93f214db613a0884"><enum>(a)</enum><header>In
general</header><text>Paragraph (2) of section 30C(g) is amended by striking
<quote>December 31, 2011.</quote> and inserting <quote>December 31,
2013</quote>.</text>
</subsection><subsection id="id98498a5b3ecf41c9a23f03a1e07edf4f"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to property
placed in service after December 31, 2011.</text>
</subsection></section><section commented="no" id="id07B3FAADBF3147B6B8D4B2ECFE3B8AF9" section-type="subsequent-section"><enum>303.</enum><header>Extension of credit
for 2- or 3-wheeled plug-in electric vehicles</header>
<subsection commented="no" id="id6EFAC17AE5BD49FC801127B8D0ABF144"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline">Section 30D is
amended by adding at the end the following new subsection:</text>
<quoted-block display-inline="no-display-inline" id="id4CBCC807FF744404A8B23DB8CAB12A1E" style="OLC">
<subsection commented="no" id="id15D1D14237804DCBA194A41037D98F37"><enum>(g)</enum><header>Credit allowed
for 2- and 3-wheeled plug-in electric vehicles</header>
<paragraph commented="no" id="id0EAF6F30EE844EEFB1E347CBF0CC88F5"><enum>(1)</enum><header>In
general</header><text display-inline="yes-display-inline">In the case of a
qualified 2- or 3-wheeled plug-in electric vehicle—</text>
<subparagraph commented="no" id="id3B7BD7F3BCAC43F3A1ADF50215B03D66"><enum>(A)</enum><text display-inline="yes-display-inline">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 the applicable amount with respect to each such qualified 2- or 3-wheeled
plug-in electric vehicle placed in service by the taxpayer during the taxable
year, and</text>
</subparagraph><subparagraph commented="no" id="id000C5DAC40074787846668ED36F1EF74"><enum>(B)</enum><text>the amount of the
credit allowed under subparagraph (A) shall be treated as a credit allowed
under subsection (a).</text>
</subparagraph></paragraph><paragraph commented="no" id="id0FF83908FC334601B7B11484BC6C14C4"><enum>(2)</enum><header>Applicable
amount</header><text display-inline="yes-display-inline">For purposes of
paragraph (1), the applicable amount is an amount equal to the lesser
of—</text>
<subparagraph commented="no" id="id482C6C5A85AD4C0EAAE48AA61D2B266D"><enum>(A)</enum><text display-inline="yes-display-inline">10 percent of the cost of the qualified 2-
or 3-wheeled plug-in electric vehicle, or</text>
</subparagraph><subparagraph commented="no" id="idB136CA22924747E896350E23EB0CFFC7"><enum>(B)</enum><text display-inline="yes-display-inline">$2,500.</text>
</subparagraph></paragraph><paragraph commented="no" id="id7DE3E03494B741B591C57998E87E9931"><enum>(3)</enum><header>Qualified 2- or
3-wheeled plug-in electric vehicle</header><text>The term <term>qualified 2- or
3-wheeled plug-in electric vehicle</term> means any vehicle which—</text>
<subparagraph commented="no" id="idFE1D7AA6F55B481BBE6E8804951ACB4F"><enum>(A)</enum><text>has 2 or 3
wheels,</text>
</subparagraph><subparagraph commented="no" id="idA34958E7E4DD41CF8E4E5C672C0517F3"><enum>(B)</enum><text>meets the
requirements of subparagraphs (A), (B), (C), (E), and (F) of subsection (d)(1)
(determined by substituting <quote>2.5 kilowatt hours</quote> for <quote>4
kilowatt hours</quote> in subparagraph (F)(i)),</text>
</subparagraph><subparagraph commented="no" id="idA909983B05324F6DA97F56FE9A8E5038"><enum>(C)</enum><text>is manufactured
primarily for use on public streets, roads, and highways,</text>
</subparagraph><subparagraph commented="no" id="id255C1690DB674221B6394B5CF34B8479"><enum>(D)</enum><text>is capable of
achieving a speed of 45 miles per hour or greater, and</text>
</subparagraph><subparagraph commented="no" id="id23388014A6F5427ABC094DD80D1100E5"><enum>(E)</enum><text>is acquired after
December 31, 2011, and before January 1,
2014.</text>
</subparagraph></paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection commented="no" id="idDBD3C731B6EE4604BA4F94A23BE42C52"><enum>(b)</enum><header>Air quality and
safety standards</header><text>Subparagraph (B) of section 30D(f)(7) is amended
by inserting <quote>, or section 571, whichever is applicable,</quote> after
<quote>sections 30101 through 30169</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="id581CBE740E204ABABF1817A9956D081F"><enum>(c)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to vehicles
acquired after December 31, 2011.</text>
</subsection></section><section commented="no" id="idF6AF0DD6E9E24ABFA61B9246F09FB7EE"><enum>304.</enum><header>Extension and
modification of cellulosic biofuel producer credit</header>
<subsection id="ID32d86c65c77748dc9f931873582ff387"><enum>(a)</enum><header>Extension</header>
<paragraph id="id3F10077E297C47B8B4D6C36318AC3084"><enum>(1)</enum><header>In
general</header><text>Subparagraph (H) of section 40(b)(6) is amended to read
as follows:</text>
<quoted-block display-inline="no-display-inline" id="id92631481717E45AD97BFA76F87510C9F" style="OLC">
<subparagraph id="id6F0A65164BBE48A1B73B3178BEDBD1C9"><enum>(H)</enum><header>Application of
paragraph</header>
<clause id="idDACCA4EF42024EC4A47DCAE8C60B9E3C"><enum>(i)</enum><header>In
general</header><text>This paragraph shall apply with respect to qualified
cellulosic biofuel production after December 31, 2008, and before January 1,
2014.</text>
</clause><clause id="ID1e7c0b8cf33a4b55b5e2a4551ad80578"><enum>(ii)</enum><header>No carryover
to certain years after expiration</header><text>If this paragraph ceases to
apply for any period by reason of clause (i), rules similar to the rules of
subsection (e)(2) shall
apply.</text>
</clause></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph commented="no" id="idB71FBE5718D04A5780C6E830412F9EED"><enum>(2)</enum><header>Conforming
amendment</header><text>Paragraph (2) of section 40(e) is amended by striking
<quote>or subsection (b)(6)(H)</quote>.</text>
</paragraph><paragraph commented="no" id="idFB331F1EC5F040679E5CD5D5DD8A9FA4"><enum>(3)</enum><header>Effective
date</header><text>The amendments made by this subsection shall take effect as
if included in section 15321(b) of the Heartland, Habitat, and Horticulture Act
of 2008.</text>
</paragraph></subsection><subsection display-inline="no-display-inline" id="H31D8293AC50A4A41BD689EF30DB55BE8"><enum>(b)</enum><header>Algae treated as
a qualified feedstock</header>
<paragraph id="HADD4FF9EB5D748FBB0333543830EC329"><enum>(1)</enum><header>In
general</header><text>Subclause (I) of section 40(b)(6)(E)(i) is amended to
read as follows:</text>
<quoted-block display-inline="no-display-inline" id="H379CDC5C472747D1826283F92BA1E9C6" style="OLC">
<subclause id="HBE1CCFE544B34C60B3A7F3C2786E73FD"><enum>(I)</enum><text display-inline="yes-display-inline">is derived by, or from, qualified
feedstocks,
and</text>
</subclause><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="HED641AA8F46945D3882F579C86BCE1C8"><enum>(2)</enum><header>Qualified
feedstock; special rules for algae</header><text>Paragraph (6) of section 40(b)
is amended by redesignating subparagraphs (F), (G), and (H), as amended by this
Act, as subparagraphs (H), (I), and (J), respectively, and by inserting after
subparagraph (E) the following new subparagraphs:</text>
<quoted-block display-inline="no-display-inline" id="HBCC4000BC0A24E35B1B2FF9DE401FC29" style="OLC">
<subparagraph id="HF45C34F1B37E438CB1ED85B6B98383A3"><enum>(F)</enum><header>Qualified
feedstock</header><text display-inline="yes-display-inline">For purposes of
this paragraph, the term <term>qualified feedstock</term> means—</text>
<clause id="H033B3F7B4FFA48C09B09529119B67136"><enum>(i)</enum><text>any
lignocellulosic or hemicellulosic matter that is available on a renewable or
recurring basis, and</text>
</clause><clause id="HAF5C6549B50242D8B4A17B30DED48632"><enum>(ii)</enum><text>any cultivated
algae, cyanobacteria, or lemna.</text>
</clause></subparagraph><subparagraph id="HDE9BB6784FE14DF39232E55778A07984"><enum>(G)</enum><header>Special rules
for algae</header><text>In the case of fuel which is derived by, or from,
feedstock described in subparagraph (F)(ii) and which is sold by the taxpayer
to another person for refining by such other person into a fuel which meets the
requirements of subparagraph (E)(i)(II) and the refined fuel is not excluded
under subparagraph (E)(iii)—</text>
<clause id="H22D60701AEBB4C24A05955B3D8539AB6"><enum>(i)</enum><text>such sale shall be
treated as described in subparagraph (C)(i),</text>
</clause><clause id="H2906446281D840599C7861DD165EC620"><enum>(ii)</enum><text>such fuel shall
be treated as meeting the requirements of subparagraph (E)(i)(II) and as not
being excluded under subparagraph (E)(iii) in the hands of such taxpayer,
and</text>
</clause><clause id="HE11478B7608B4765A1A2FBBCBAF38CA4"><enum>(iii)</enum><text>except as
provided in this subparagraph, such fuel (and any fuel derived from such fuel)
shall not be taken into account under subparagraph (C) with respect to the
taxpayer or any other
person.</text>
</clause></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph id="HACFF656926C4474F9A075061C05CF166"><enum>(3)</enum><header>Conforming
amendments</header>
<subparagraph id="HE3D7163B3CD84D28AA9F8CDB8BB49222"><enum>(A)</enum><text>Section 40, as
amended by paragraph (2), is amended—</text>
<clause id="H4357B33300B44263854F9582ACD93EA9"><enum>(i)</enum><text>by
striking <quote>cellulosic biofuel</quote> each place it appears in the text
thereof and inserting <quote>second generation biofuel</quote>,</text>
</clause><clause id="HD93E9D391913453BAF0BA132CEB88DC2"><enum>(ii)</enum><text>by
striking <quote><header-in-text level="paragraph" style="OLC">Cellulosic</header-in-text></quote> in the headings of subsections
(b)(6), (b)(6)(E), and (d)(3)(D) and inserting <quote><header-in-text level="paragraph" style="OLC">Second generation</header-in-text></quote>,
and</text>
</clause><clause id="HF4F5ECA96FA943C6A8D28143218FB13D"><enum>(iii)</enum><text display-inline="yes-display-inline">by striking <quote><header-in-text level="paragraph" style="OLC">cellulosic</header-in-text></quote> in the
headings of subsections (b)(6)(C), (b)(6)(D), (b)(6)(H), (d)(6), and (e)(3) and
inserting <quote><header-in-text level="paragraph" style="OLC">second
generation</header-in-text></quote>.</text>
</clause></subparagraph><subparagraph id="H85FE80F116AD48749C6CAB5537C43DDD"><enum>(B)</enum><text>Clause (ii) of
section 40(b)(6)(E) is amended by striking <quote>Such term shall not</quote>
and inserting <quote>The term <quote>second generation biofuel</quote> shall
not</quote>.</text>
</subparagraph><subparagraph id="H5C5E52FCB43947D1876986430545B414"><enum>(C)</enum><text>Paragraph (1) of
section 4101(a) is amended by striking <quote>cellulosic biofuel</quote> and
inserting <quote>second generation biofuel</quote>.</text>
</subparagraph></paragraph><paragraph id="H307EF2D00A9C401690766956C30F0137"><enum>(4)</enum><header>Effective
date</header><text>The amendments made by this subsection shall apply to fuels
sold or used after the date of the enactment of this Act.</text>
</paragraph></subsection></section><section id="HE775309810F4465BB3D304071835624B"><enum>305.</enum><header>Extension of
incentives for biodiesel and renewable diesel</header>
<subsection id="HB14D00EB1DC64B7D8B3175EC5CEBF3B3"><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, 2011</quote> and
inserting <quote>December 31, 2013</quote>.</text>
</subsection><subsection id="H445E6D8264B541DFAB5A3B44FAF20F42"><enum>(b)</enum><header>Excise tax
credits and outlay payments for biodiesel and renewable diesel fuel
mixtures</header>
<paragraph id="H47E51F9D66854D1791334E573C4270C1"><enum>(1)</enum><text>Paragraph (6) of
section 6426(c) is amended by striking <quote>December 31, 2011</quote> and
inserting <quote>December 31, 2013</quote>.</text>
</paragraph><paragraph id="H1DBD98C050E24599AAAD0661051DDC32"><enum>(2)</enum><text>Subparagraph (B)
of section 6427(e)(6) is amended by striking <quote>December 31, 2011</quote>
and inserting <quote>December 31, 2013</quote>.</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="H710C3D6399134A9C97571AF7D0D45A79"><enum>(c)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to fuel sold
or used after December 31, 2011.</text>
</subsection></section><section id="id845BC8CB2AAB408ABCF501EC7388650C"><enum>306.</enum><header>Extension of
production credit for Indian coal facilities placed in service before
2009</header>
<subsection id="id3ea2204e424e498db6ac7b5983171474"><enum>(a)</enum><header>In
general</header><text>Subparagraph (A) of section 45(e)(10) is amended by
striking <quote>7-year period</quote> each place it appears and inserting
<quote>8-year period</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="idF209C1A2CE9241C7B4E81264AABD0B62"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to coal
produced after December 31, 2012.</text>
</subsection></section><section commented="no" id="idE29B40E407714105A24168EFC084B181"><enum>307.</enum><header>Extension and
modification of credits with respect to facilities producing energy from
certain renewable resources</header>
<subsection commented="no" id="id1D774609E1244CF4A544D9A79AF5B5CB"><enum>(a)</enum><header>Production tax
credit</header>
<paragraph commented="no" id="id363D1D16B0144DDE828F240A798123F4"><enum>(1)</enum><header>Extension for
wind facilities</header><text display-inline="yes-display-inline">Paragraph (1)
of section 45(d) is amended by striking <quote>January 1, 2013</quote> and
inserting <quote>January 1, 2014</quote>.</text>
</paragraph><paragraph id="idc2483cca9a6c4717a428913a01e0643f"><enum>(2)</enum><header>Exclusion of
paper which is commonly recycled from definition of municipal solid
waste</header><text>Section 45(c)(6) is amended by inserting <quote>, except
that such term does not include paper which is commonly recycled and which has
been segregated from other solid waste (as so defined)</quote> after <quote>(42
U.S.C. 6903)</quote>.</text>
</paragraph><paragraph id="idB9479AE3FC954413906F4B6A9F4974F7"><enum>(3)</enum><header>Modification to
definition of qualified facility</header>
<subparagraph id="id27A88EEACF5243A298BBD9C9919C9466"><enum>(A)</enum><header>In
general</header><text>The following provisions of section 45(d), as amended by
paragraph (1), are each amended by striking <quote>before January 1,
2014</quote> and inserting <quote>the construction of which begins before
January 1, 2014</quote>:</text>
<clause id="id67B1922832B04AB2913A2D064266B96F"><enum>(i)</enum><text>Paragraph
(1).</text>
</clause><clause id="idD8688044F0A34013908253AE69963A24"><enum>(ii)</enum><text>Paragraph
(2)(A)(i).</text>
</clause><clause id="id4EA93CE99C294D828863564AA79A302D"><enum>(iii)</enum><text>Paragraph
(3)(A)(i)(I).</text>
</clause><clause id="id3CD83609D1284032946E57F67FC08E76"><enum>(iv)</enum><text>Paragraph
(6).</text>
</clause><clause id="id4BCFD8AF527443E3B50C63AA7D80D701"><enum>(v)</enum><text>Paragraph
(7).</text>
</clause><clause id="id960B5B538B724C2B96EAF62894C0BD8E"><enum>(vi)</enum><text>Paragraph
(9)(B).</text>
</clause><clause id="idE256D6989339461582F495FDB5097ECF"><enum>(vii)</enum><text>Paragraph
(11)(B).</text>
</clause></subparagraph><subparagraph id="id1F78E9EF2F8B47EAB616BFAAC80CB480"><enum>(B)</enum><header>Certain
closed-loop biomass facilities</header><text>Subparagraph (A) of section
45(d)(2) is amended by adding at the end the following new flush
sentence:</text>
<quoted-block display-inline="no-display-inline" id="id68AEBDF595984419933BDC9EC7C8427D" style="OLC">
<quoted-block-continuation-text quoted-block-continuation-text-level="subparagraph">For
purposes of clause (ii), a facility shall be treated as modified before January
1, 2014, if the construction of such modification begins before such
date.</quoted-block-continuation-text><after-quoted-block>.</after-quoted-block></quoted-block>
</subparagraph><subparagraph id="id40535BAA21024EC8B404C9ABCB6878E6"><enum>(C)</enum><header>Certain
open-loop biomass facilities</header><text>Clause (ii) of section 45(d)(3)(A)
is amended by striking <quote>is originally placed in service</quote> and
inserting <quote>the construction of which begins</quote>.</text>
</subparagraph><subparagraph id="idD390C1E94C0547AF8A9D92DBEC5F0B45"><enum>(D)</enum><header>Geothermal
facilities</header>
<clause id="id90D8276005804266874440FFB223282A"><enum>(i)</enum><header>In
general</header><text>Paragraph (4) of section 45(d) is amended by striking
<quote>and before January 1, 2014</quote> and all that follows and
inserting</text>
<quoted-block display-inline="yes-display-inline" id="id56231AF326934ED3817DB063FADDCF63" style="OLC">
<text>and which—</text><subparagraph id="id4C895C41BB02491AA4EEE78EB16D46C7"><enum>(A)</enum><text>in the case of a
facility using solar energy, is placed in service before January 1, 2006,
or</text>
</subparagraph><subparagraph id="id7EE87F237CE146EBB2CBEF1734E65668"><enum>(B)</enum><text>in the case of a
facility using geothermal energy, the construction of which begins before
January 1, 2014.</text>
</subparagraph><quoted-block-continuation-text quoted-block-continuation-text-level="paragraph">Such term
shall not include any property described in section 48(a)(3) the basis of which
is taken into account by the taxpayer for purposes of determining the energy
credit under section
48.</quoted-block-continuation-text><after-quoted-block>.</after-quoted-block></quoted-block>
</clause></subparagraph><subparagraph id="id2AD7DF58DCB64DFBB256270872EAF75F"><enum>(E)</enum><header>Incremental
hydropower production</header><text>Paragraph (9) of section 45(d) is
amended—</text>
<clause id="id5C43D2003EB64CE5BF93BF44F1689A48"><enum>(i)</enum><text>by
redesignating subparagraphs (A) and (B), as amended by subparagraph (A), as
clauses (i) and (ii), respectively, and by moving such clauses (as so
redesignated) 2 ems to the right,</text>
</clause><clause id="idE54365316B7B41B7976914F27E33D50D"><enum>(ii)</enum><text>by
striking <quote>In the case of a facility</quote> and inserting the
following:</text>
<quoted-block display-inline="no-display-inline" id="id62629A93686A4C7899E061E3B74D2CB0" style="OLC">
<subparagraph id="id6790633C2828480794E07DA5CD92DBC5"><enum>(A)</enum><header>In
general</header><text>In the case of a
facility</text>
</subparagraph><after-quoted-block>,
</after-quoted-block></quoted-block>
</clause><clause id="idDCFE41C8EB5340DEB7E5A4C890867271"><enum>(iii)</enum><text>by
redesignating subparagraph (C) as subparagraph (B), and</text>
</clause><clause id="idE8A00C73956E4A8D8274EC0C8D57DD91"><enum>(iv)</enum><text>by
adding at the end the following new subparagraph:</text>
<quoted-block display-inline="no-display-inline" id="id10E338F8DF7C46CBA59EAC4EDCF6E0AA" style="OLC">
<subparagraph id="idCB7010DCF6164F71943E6A578C40F460"><enum>(C)</enum><header>Special
rule</header><text>For purposes of subparagraph (A)(i), an efficiency
improvement or addition to capacity shall be treated as placed in service
modified before January 1, 2014, if the construction of such improvement or
addition begins before such
date.</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</clause></subparagraph></paragraph></subsection><subsection commented="no" id="idB3F2AD040D1E4A079F782A8E6A415059"><enum>(b)</enum><header>Extension of
election to treat qualified facilities as energy
property</header><text>Subparagraph (C) of section 48(a)(5) is amended to read
as follows:</text>
<quoted-block display-inline="no-display-inline" id="id0B05E51B95BD406C9E31D9595FEE4A4F" style="OLC">
<subparagraph id="idcd56d18f9f914d78bbeb37d25fd3c4bd"><enum>(C)</enum><header>Qualified
investment credit facility</header><text>For purposes of this paragraph, the
term <term>qualified investment credit facility</term> means any
facility—</text>
<clause id="id618466A71544423AB449F24717674705"><enum>(i)</enum><text>which is a
qualified facility (within the meaning of section 45) described in paragraph
(1), (2), (3), (4), (6), (7), (9), or (11) of section 45(d),</text>
</clause><clause id="idA08B949BCD254EBE8BB5E0ADE5A23DC3"><enum>(ii)</enum><text>which is placed
in service after 2008 and the construction of which begins before January 1,
2014, and</text>
</clause><clause id="id8F10F6F944494BC398E8C743494F42C9"><enum>(iii)</enum><text>with respect to
which—</text>
<subclause id="id425E44A7DF7E413196A59F1CEC30D0FB"><enum>(I)</enum><text>no credit has
been allowed under section 45, and</text>
</subclause><subclause id="idD2CFE71AC3934BD6A19CC8EDE2689E5E"><enum>(II)</enum><text>the taxpayer
makes an irrevocable election to have this paragraph
apply.</text>
</subclause></clause></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection commented="no" id="idECC76993EB7D4EFDB57D17D8C2E2DEC5"><enum>(c)</enum><header>Technical
corrections</header>
<paragraph commented="no" id="idE5E999717DC84EFA8ABFBC666B5BA9C9"><enum>(1)</enum><text>Subparagraph (D)
of section 48(a)(5) is amended—</text>
<subparagraph commented="no" id="idDFDCFB8B94FC4F86A305664E3404B7AC"><enum>(A)</enum><text>by striking the
period at the end of clause (ii) and inserting a comma, and</text>
</subparagraph><subparagraph commented="no" id="idCE0E27D03E0B439BBE0824A9AB6D7249"><enum>(B)</enum><text>by adding at the
end the following new clauses:</text>
<quoted-block act-name="" id="id2944E04D9FB446E8ACA109D6406831AA" style="OLC">
<clause commented="no" id="idF3F45DCA389145839F8DE24D001C189C"><enum>(iii)</enum><text>which is
constructed, reconstructed, erected, or acquired by the taxpayer, and</text>
</clause><clause commented="no" id="id8E511AA3DB60420D9458C496FFBEFC29"><enum>(iv)</enum><text>the original use
of which commences with the
taxpayer.</text>
</clause><after-quoted-block>.</after-quoted-block></quoted-block>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="idF4D46EC8C1FE444C8F0184577C172D37"><enum>(2)</enum><text>Paragraphs (1)
and (2) of subsection (a) of section 1603 of division B of the American
Recovery and Reinvestment Act of 2009 are each amended by striking
<quote>placed in service</quote> and inserting <quote>originally placed in
service by such person</quote>.</text>
</paragraph></subsection><subsection commented="no" id="idA1590A7C552544609B5095BE3F19C12C"><enum>(d)</enum><header>Effective
dates</header>
<paragraph commented="no" id="id6E380F01965046A0A240283B9553DA4D"><enum>(1)</enum><header>In
general</header><text>Except as provided in paragraphs (2) and (3), the
amendments made by this section shall take effect on the date of the enactment
of this Act.</text>
</paragraph><paragraph commented="no" id="id4ad3888ba3fe49cd92f1fb87dc993e13"><enum>(2)</enum><header>Modification to
definition of municipal solid waste</header><text>The amendments made by
subsection (a)(2) shall apply to electricity produced and sold after the date
of the enactment of this Act, in taxable years ending after such date.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="id7A054030663241E8874108D1EAF66AAE"><enum>(3)</enum><header>Technical
corrections</header><text>The amendments made by subsection (c) shall apply as
if included in the enactment of the provisions of the American Recovery and
Reinvestment Act of 2009 to which they relate.</text>
</paragraph></subsection></section><section commented="no" display-inline="no-display-inline" id="id39BC0E387D2F4A51815885B32CAAD435"><enum>308.</enum><header>Extension of
credit for energy-efficient new homes</header>
<subsection commented="no" display-inline="no-display-inline" id="id0A78CDE0F8984110BC2EB0C2289E0CF9"><enum>(a)</enum><header>In
general</header><text>Subsection (g) of section 45L is amended by striking
<quote>December 31, 2011</quote> and inserting <quote>December 31,
2013</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="id871C6E090FF241999BA36FCB82A9EE7C"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to homes
acquired after December 31, 2011.</text>
</subsection></section><section commented="no" display-inline="no-display-inline" id="idEDE1FA3E9E84428D845F09CF7FBAFFFA"><enum>309.</enum><header>Extension of
credit for energy-efficient appliances</header>
<subsection commented="no" display-inline="no-display-inline" id="idD18B8B4CE3F6464CB3074A1EDE88CF96"><enum>(a)</enum><header>In
general</header><text>Section 45M(b) is amended by striking <quote>2011</quote>
each place it appears other than in the provisions specified in subsection (b)
and inserting <quote>2011, 2012, or 2013</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="idCA0D60F813A344ED80742D73AF5CAEBE"><enum>(b)</enum><header>Provisions
specified</header><text>The provisions of section 45M(b) specified in this
subsection are subparagraph (C) of paragraph (1) and subparagraph (E) of
paragraph (2).</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="idFB319806240449F7B9173349428430A4"><enum>(c)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to
appliances produced after December 31, 2011.</text>
</subsection></section><section commented="no" display-inline="no-display-inline" id="idDC303BE0AD86475CB9D2E9D2875653A5"><enum>310.</enum><header>Extension and
modification of special allowance for cellulosic biofuel plant
property</header>
<subsection commented="no" display-inline="no-display-inline" id="idE0DEBEAE952F4FD2BA27B906E0B9018C"><enum>(a)</enum><header>Extension</header>
<paragraph commented="no" display-inline="no-display-inline" id="id5FABA9134CFF4FDA8226F9C9DD8EA6DB"><enum>(1)</enum><header>In
general</header><text display-inline="yes-display-inline">Subparagraph (D) of
section 168(l)(2) is amended by striking <quote>January 1, 2013</quote> and
inserting <quote>January 1, 2014</quote>.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="idC4E924A958974C42B511D4307ADCE45C"><enum>(2)</enum><header>Conforming
amendment</header><text>Paragraph (5) of section 168(l), as redesignated by
this Act, is amended—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="idE1B6BF75057C43B58D9BDCA4BF789D42"><enum>(A)</enum><text>by striking
<quote>and</quote> at the end of subparagraph (A),</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="idFD641EF184474AA9B8E37D8AF163C562"><enum>(B)</enum><text>by redesignating
subparagraph (B) as subparagraph (C), and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="id862D528E63104F7FA6CF9D679C794201"><enum>(C)</enum><text>by inserting
after subparagraph (A) the following new subparagraph:</text>
<quoted-block act-name="" id="id961E9A53332841ACBE6DEBE10F0E526F" style="OLC">
<subparagraph id="id636C0372EB29477BAF2BF7A5D4B3C337"><enum>(B)</enum><text>by substituting
<quote>January 1, 2014</quote> for <quote>January 1, 2013</quote> in clause (i)
thereof,
and</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="id96D328AB88FD455AAAD4DDE31567ED51"><enum>(3)</enum><header>Effective
date</header><text>The amendments made by this subsection shall apply to
property placed in service after December 31, 2012.</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="H129BBC6100A04FC6B62D6049BE5B0E1B"><enum>(b)</enum><header>Algae treated as
a qualified feedstock for purposes of bonus depreciation for biofuel plant
property</header>
<paragraph commented="no" id="HEA1D7E4DFFBF43E69FAA031D75FFCA12"><enum>(1)</enum><header>In
general</header><text>Subparagraph (A) of section 168(l)(2) is amended by
striking <quote>solely to produce cellulosic biofuel</quote> and inserting
<quote>solely to produce second generation biofuel (as defined in section
40(b)(6)(E))</quote>.</text>
</paragraph><paragraph commented="no" id="HC6831654384341689BE45E77310316E7"><enum>(2)</enum><header>Conforming
amendments</header><text>Subsection (l) of section 168, as amended by
subsection (a), is amended—</text>
<subparagraph commented="no" id="HB21555166FD045F48E5735E0989AF26D"><enum>(A)</enum><text>by striking
<quote>cellulosic biofuel</quote> each place it appears in the text thereof and
inserting <quote>second generation biofuel</quote>,</text>
</subparagraph><subparagraph commented="no" id="H837658E14A854120846C97C582B2DD8E"><enum>(B)</enum><text>by striking
paragraph (3) and redesignating paragraphs (4) through (8) as paragraphs (3)
through (7), respectively,</text>
</subparagraph><subparagraph commented="no" id="HA41C5894A5804788882EEF50A183AF9A"><enum>(C)</enum><text display-inline="yes-display-inline">by striking <quote><header-in-text level="subsection" style="OLC">Cellulosic</header-in-text></quote> in the
heading of such subsection and inserting <quote><header-in-text level="subsection" style="OLC">Second Generation</header-in-text></quote>,
and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="HB68F1849EE5D4540AA50A2A7BE6C7165"><enum>(D)</enum><text display-inline="yes-display-inline">by striking <quote><header-in-text level="paragraph" style="OLC">cellulosic</header-in-text></quote> in the
heading of paragraph (2) and inserting <quote><header-in-text level="paragraph" style="OLC">second generation</header-in-text></quote>.</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="H950F75FDB9FF492A85AD5DB56E930A58"><enum>(3)</enum><header>Effective
date</header><text>The amendments made by this subsection shall apply to
property placed in service after the date of the enactment of this Act.</text>
</paragraph></subsection></section><section id="H66118AB9B863406094135C917C3DD4F4"><enum>311.</enum><header>Extension of
special rule for sales or dispositions to implement FERC or State electric
restructuring policy for qualified electric utilities</header>
<subsection id="HF7A440EA53484E30928DE1FB576A892C"><enum>(a)</enum><header>In
general</header><text>Paragraph (3) of section 451(i) is amended by striking
<quote>January 1, 2012</quote> and inserting <quote>January 1,
2014</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="H2539EB33E5AA41F2979DFB135764C69E"><enum>(b)</enum><header>Effective
date</header><text>The amendment made by this section shall apply to
dispositions after December 31, 2011.</text>
</subsection></section><section commented="no" display-inline="no-display-inline" id="id225F1DA439CF4A04A6CF5276DD281A5B"><enum>312.</enum><header>Extension of
alternative fuels excise tax credits</header>
<subsection commented="no" display-inline="no-display-inline" id="idCA76BA4648B040E1A6BAC03CCB65B263"><enum>(a)</enum><header>In
general</header><text>Sections 6426(d)(5) and 6426(e)(3) are each amended by
striking <quote>December 31, 2011</quote> and inserting <quote>December 31,
2013</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="idB5FCCBF4DF4A4BD8B7F8183194AD21BD"><enum>(b)</enum><header>Outlay payments
for alternative fuels</header><text>Paragraph (6) of section 6427(e) is
amended—</text>
<paragraph commented="no" display-inline="no-display-inline" id="id54B77AB02185493EA025B7270C25BD61"><enum>(1)</enum><text>in subparagraph
(C)—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="id2F2C2F76EC3F4CED9D06284DCFD6240C"><enum>(A)</enum><text>by striking
<quote>or alternative fuel mixture (as defined in subsection (d)(2) or (e)(3)
of section 6426)</quote> and inserting <quote>(as defined in section
6426(d)(2))</quote>, and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="id56CAA89A9AD34CC0B698AC6FD1F9368C"><enum>(B)</enum><text>by striking
<quote>December 31, 2011, and</quote> and inserting <quote>December 31,
2013,</quote>,</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="id50BB80EF6ABE40EE821282DD54D3AC35"><enum>(2)</enum><text>in subparagraph
(D)—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="id8AB5E06F52C94B16A4EBE7DE0704040B"><enum>(A)</enum><text>by striking
<quote>or alternative fuel mixture</quote>, and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="id3CA1EC72D00A491A85714A190B907B6E"><enum>(B)</enum><text>by striking the
period at the end and inserting <quote>, and</quote>, and</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="id70F8FF364CD943FA8D58382A6EA27E48"><enum>(3)</enum><text>by adding at the
end the following new subparagraph:</text>
<quoted-block display-inline="no-display-inline" id="id3F00541C8310487B893CF9BA6EDB0D6B" style="OLC">
<subparagraph commented="no" display-inline="no-display-inline" id="id3614B10BEDDC4041BF5285FE83EFA73C"><enum>(E)</enum><text>any alternative
fuel mixture (as defined in section 6426(e)(2)) sold or used after December 31,
2011.</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="idE64980C619244554B5B95971DE3130AE"><enum>(c)</enum><header>Effective
date</header><text>The amendments made by this section shall apply to fuel sold
or used after December 31, 2011.</text>
</subsection></section><enum>IV</enum><header>Other
provisions</header>
<section id="id7816D31C1FF34FA1A5CD537EB3D57A3F"><enum>401.</enum><header>Sense of the
Senate regarding tax reform</header><text display-inline="no-display-inline">It
is the sense of the Senate that—</text>
<paragraph id="idCF07C63DE240449CAC0DCD4B06885CF6"><enum>(1)</enum><text display-inline="yes-display-inline">comprehensive tax reform is vital to
economic growth and United States competitiveness and should begin in
2013,</text>
</paragraph><paragraph id="id17FB053599D84BCAB0BE459705660687"><enum>(2)</enum><text display-inline="yes-display-inline">a major focus of comprehensive tax reform
should be broadening the tax base so as to lower tax rates, including by
reforming, eliminating, or significantly reducing tax expenditures, including
provisions traditionally extended by Congress from year to year, and</text>
</paragraph><paragraph id="idEDBE51CD14B346E3AE3F99994A8C4EBE"><enum>(3)</enum><text>whenever
possible, federal energy tax expenditures should be responsibly phased-out in a
manner that allows these technologies to function without a reliance on federal
subsidies.</text>
</paragraph></section><enum>V</enum><header>Budget
provisions</header>
<section commented="no" id="id990F42C30C614CCAA0DAD6E5A07B63DF"><enum>501.</enum><header>Statutory
PAYGO scorecard estimates</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, submitted for printing in the Congressional Record by the Chairman of the
Senate Budget Committee, provided that such statement has been submitted prior
to the vote on passage.</text>
</section>
August 28, 2012
Read twice and placed on the calendar