[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4440 Enrolled Bill (ENR)]
H.R.4440
One Hundred Ninth Congress
of the
United States of America
AT THE FIRST SESSION
Begun and held at the City of Washington on Tuesday,
the fourth day of January, two thousand and five
An Act
To amend the Internal Revenue Code of 1986 to provide tax benefits for
the Gulf Opportunity Zone and certain areas affected by Hurricanes Rita
and Wilma, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,

5949b12cb148a6ebc8f37e7b002f225c2b56340d4452b2f04777721139289e0f

(a) Short Title.--This Act may be cited as the ``Gulf Opportunity
Zone Act of 2005''.
(b) Amendment of 1986 Code.--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) Table of Contents.--The table of contents of this Act is as
follows:

8bac5e39835adf639530d4980c44b3c4ac86bfb542adc5c49dc83e9296cff4ba

1476eec6e7deb982773a021738fa2eff03cb367b2e4942107d0d472b41bf5ad0

TITLE I

-ESTABLISHMENT OF GULF OPPORTUNITY ZONE

for taxpayers affected by Hurricanes Katrina, Rita, and Wilma.

3f448d29c9312e11bbe0e309109654e511b7c6a9e714cf15949e6a5e2474c2ce

156fb45f0d310189384656ffd2c0489452c59cda7f288c042ff357b0d6930b53

TITLE II

-TAX BENEFITS RELATED TO HURRICANES RITA AND WILMA

6d6be3e3c552e79a1679e4a3477aa0c0c7373807e5107ba40bf2f63adb985cfe

TITLE III

-OTHER PROVISIONS

rules for certain listed and reportable transactions.

30a77519a4e526e08e31cf6b582c65c4a37d514a956986486cf974738ae6336f

270ba06f77a2bbda667ed4b72f71145a5ee57ff7f93e9a8702ce91615f564e7d

078983c4da1fb0fc32006fccb50c0d50cd6c5189e62f03ee29eedd8049cb457f

TITLE IV

-TECHNICALS

82baa66887d2fc53e992b1e41fe4b65c83f23edab11a4e9c0096921a28411307

123c30ee49822ed2b2b30fad4b4318555537076e2f11150e78cfa8ca901817c8

bb3e13ccb4c71ae8846ab4eeba6824399502a2ab29624d3d5c0d8296ca75e507

980a98fe175c16c1d530dcdde481833df17b0314b7215c80dfe9a0c0d822c9d5

c74a45410fb2e321f9673f0c62958ff747a64ca6dc26075b4c9e2040ca3fc70f

bddbefc1d09e6f0dfaf8a5550a4e1510d583fe65fbe8698b2fd86ab968f58a46

fb3ad80c6fb8f7399f14f34df135d7f4fb3dda71a21448ffaeae137345cfaede

07c3b2e1ffb9bf5da067a502b028ddd2720422ba430563fc3cc589434a553c9d

a43f7538dc49833556fbf7d0a11ab7d5a99ca68296980b3b400643ffca13e8fd

FOR STUDENTS IN THE GULF OPPORTUNITY ZONE.
(a) In General.--Part II of subchapter Y of chapter 1 (as added by
this Act) is amended by adding at the end the following new section:
``SEC. 1400O. EDUCATION TAX BENEFITS.
``In the case of an individual who attends an eligible educational
institution (as defined in section 25A(f)(2)) located in the Gulf
Opportunity Zone for any taxable year beginning during 2005 or 2006--
``(1) in applying section 25A, the term `qualified tuition and
related expenses' shall include any costs which are qualified
higher education expenses (as defined in section 529(e)(3)),
``(2) each of the dollar amounts in effect under of
subparagraphs (A) and (B) of section 25A(b)(1) shall be twice the
amount otherwise in effect before the application of this
subsection, and
``(3) section 25A(c)(1) shall be applied by substituting `40
percent' for `20 percent'.''.
(b) Conforming Amendment.--The table of sections for part II of
subchapter Y of chapter 1 is amended by adding at the end the following
new item:
``Sec. 1400O. Education tax benefits.''.

3b6c6e50a7d0eecadaf3d948e172449cd5a72a8e06ab2c0eec37f046d372b7fc

(a) In General.--Part II of subchapter Y of chapter 1 (as added by
this Act) is amended by adding at the end the following new section:
``SEC. 1400P. HOUSING TAX BENEFITS .
``(a) Exclusion of Employer Provided Housing for Individual
Affected by Hurricane Katrina.--
``(1) In general.--Gross income of a qualified employee shall
not include the value of any lodging furnished in-kind to such
employee (and such employee's spouse or any of such employee's
dependents) by or on behalf of a qualified employer for any month
during the taxable year.
``(2) Limitation.--The amount which may be excluded under
paragraph (1) for any month for which lodging is furnished during
the taxable year shall not exceed $600.
``(3) Treatment of exclusion.--The exclusion under paragraph
(1) shall be treated as an exclusion under section 119 (other than
for purposes of sections 3121(a)(19) and 3306(b)(14)).
``(b) Employer Credit for Housing Employees Affected by Hurricane
Katrina.--For purposes of section 38, in the case of a qualified
employer, the Hurricane Katrina housing credit for any month during the
taxable year is an amount equal to 30 percent of any amount which is
excludable from the gross income of a qualified employee of such
employer under subsection (a) and not otherwise excludable under
section 119.
``(c) Qualified Employee.--For purposes of this section, the term
`qualified employee' means, with respect to any month, an individual--
``(1) who had a principal residence (as defined in section 121)
in the Gulf Opportunity Zone on August 28, 2005, and
``(2) who performs substantially all employment services--
``(A) in the Gulf Opportunity Zone, and
``(B) for the qualified employer which furnishes lodging to
such individual.
``(d) Qualified Employer.--For purposes of this section, the term
`qualified employer' means any employer with a trade or business
located in the Gulf Opportunity Zone.
``(e) Certain Rules to Apply.--For purposes of this subsection,
rules similar to the rules of sections 51(i)(1) and 52 shall apply.
``(f) Application of Section.--This section shall apply to lodging
furnished during the period--
``(1) beginning on the first day of the first month beginning
after the date of the enactment of this section, and
``(2) ending on the date which is 6 months after the first day
described in paragraph (1).''.
(b) Conforming Amendments.--
(1) Subsection (b) of section 38 is amended by striking ``and''
at the end of paragraph (25), by striking the period at the end of
paragraph (26) and inserting ``, and'', and by adding at the end
the following new paragraph:
``(27) the Hurricane Katrina housing credit determined under
section 1400P(b).''.
(2) Section 280C(a) is amended by striking ``and 1396(a)'' and
inserting ``1396(a), and 1400P(b)''.
(3) The table of sections for part II of subchapter Y of
chapter 1 is amended by adding at the end the following new item:
``Sec. 1400P. Housing tax benefits.''.

ffc4f8b6da04f1071178b59a0d73c702467e9f3fa0b9e3a921730f5f7038b636

Section 404(d) of the Katrina Emergency Tax Relief Act of 2005 is
amended by striking ``December 31, 2007'' and inserting ``December 31,
2010''.

8e5261aed78e90faca4deb276f3e8fe45cd136b055e026382accf0d734dce293

DATE FOR TAXPAYERS AFFECTED BY HURRICANES KATRINA, RITA,
AND WILMA.
In applying the rule under section 168(k)(2)(A)(iv) of the Internal
Revenue Code of 1986 to any property described in subparagraph (B) or
(C) of section 168(k)(2) of such Code--
(1) the placement in service of which--
(A) is to be located in the GO Zone (as defined in section
1400M(1) of such Code), the Rita GO Zone (as defined in section
1400M(3) of such Code), or the Wilma GO Zone (as defined in
section 1400M(5) of such Code), and
(B) is to be made by any taxpayer affected by Hurricane
Katrina, Rita, or Wilma, or
(2) which is manufactured in such Zone by any person affected
by Hurricane Katrina, Rita, or Wilma,
the Secretary of the Treasury may, on a taxpayer by taxpayer basis,
extend the required date of the placement in service of such property
under such section by such period of time as is determined necessary by
the Secretary but not to exceed 1 year. For purposes of the preceding
sentence, the determination shall be made by only taking into account
the effect of one or more hurricanes on the date of such placement by
the taxpayer.

6a497acd3a576b239af897524cd7dc29ec8572301f722088b71222987b2eabe9

5ba851793c09bf92eaffe0086072483e2e4f0ebe9afc6b2f759a4f74acf3ed50

It is the sense of the Congress that the Secretary of the Treasury,
or the Secretary's delegate, should designate one or more series of
bonds or certificates (or any portion thereof) issued under section
3105 of title 31, United States Code, as ``Gulf Coast Recovery Bonds''
in response to Hurricanes Katrina, Rita, and Wilma.

1ee1c77496ebca1d3a98878c4157f021a4700504a1c483f5ad0b304c54eab992

OF EARNED INCOME CREDIT.
(a) In General.--Subclause (II) of section 32(c)(2)(B)(vi) is
amended by striking ``January 1, 2006'' and inserting ``January 1,
2007''.
(b) Effective Date.--The amendment made by subsection (a) shall
apply to taxable years beginning after December 31, 2005.

59a4af6dc07c0ece70c06709680ac98a1282ee78501321a6a59e9c0b9f58ef1a

RULES FOR CERTAIN LISTED AND REPORTABLE TRANSACTIONS.
(a) Effective Date Modification.--
(1) In general.--Paragraph (2) of section 903(d) of the
American Jobs Creation Act of 2004 is amended to read as follows:
``(2) Exception for reportable or listed transactions.--
``(A) In general.--The amendments made by subsection (c)
shall apply with respect to interest accruing after October 3,
2004.
``(B) Special rule for certain listed and reportable
transactions.--
``(i) In general.--Except as provided in clauses (ii),
(iii), and (iv), the amendments made by subsection (c)
shall also apply with respect to interest accruing on or
before October 3, 2004.
``(ii) Participants in settlement initiatives.--Clause
(i) shall not apply to any transaction if, as of January
23, 2006--
``(I) the taxpayer is participating in a settlement
initiative described in Internal Revenue Service
Announcement 2005-80 with respect to such transaction,
or
``(II) the taxpayer has entered into a settlement
agreement pursuant to such an initiative.
Subclause (I) shall not apply to any taxpayer if, after
January 23, 2006, the taxpayer withdraws from, or
terminates, participation in the initiative or the
Secretary of the Treasury or the Secretary's delegate
determines that a settlement agreement will not be reached
pursuant to the initiative within a reasonable period of
time.
``(iii) Taxpayers acting in good faith.--The Secretary
of the Treasury may except from the application of clause
(i) any transaction in which the taxpayer has acted
reasonably and in good faith.
``(iv) Closed transactions.--Clause (i) shall not apply
to a transaction if, as of December 14, 2005--
``(I) the assessment of all Federal income taxes
for the taxable year in which the tax liability to
which the interest relates arose is prevented by the
operation of any law or rule of law, or
``(II) a closing agreement under section 7121 has
been entered into with respect to the tax liability
arising in connection with the transaction.''.
(2) Effective date.--The amendment made by this subsection
shall take effect as if included in the provisions of the American
Jobs Creation Act of 2004 to which it relates.
(b) Treatment of Amended Returns and Other Similar Notices of
Additional Tax Owed.--
(1) In general.--Section 6404(g)(1) (relating to suspension) is
amended by adding at the end the following new sentence: ``If,
after the return for a taxable year is filed, the taxpayer provides
to the Secretary 1 or more signed written documents showing that
the taxpayer owes an additional amount of tax for the taxable year,
clause (i) shall be applied by substituting the date the last of
the documents was provided for the date on which the return is
filed.''.
(2) Effective date.--The amendment made by this subsection
shall apply to documents provided on or after the date of the
enactment of this Act.

56a6bf0019edc6957678714670fd6fb14a9ee351fd6d2f3c6a0d03dc1d1620b8

Paragraph (6) of section 7608(c) (relating to application of
section) is amended by striking ``January 1, 2006'' both places is
appears and inserting ``January 1, 2007''.

8bf3f62c1b9ab2efeb3f5f14ed0306e87e162eb24c87b7968a5cc8bc304a7549

(a) Disclosures To Facilitate Combined Employment Tax Reporting.--
(1) In general.--Subparagraph (B) of section 6103(d)(5)
(relating to termination) is amended by striking ``December 31,
2005'' and inserting ``December 31, 2006''.
(2) Effective date.--The amendment made by paragraph (1) shall
apply to disclosures after December 31, 2005.
(b) Disclosures Relating to Terrorist Activities.--
(1) In general.--Clause (iv) of section 6103(i)(3)(C) and
subparagraph (E) of section 6103(i)(7) are each amended by striking
``December 31, 2005'' and inserting ``December 31, 2006''.
(2) Effective date.--The amendments made by paragraph (1) shall
apply to disclosures after December 31, 2005.
(c) Disclosures Relating to Student Loans.--
(1) In general.--Subparagraph (D) of section 6103(l)(13)
(relating to termination) is amended by striking ``December 31,
2005'' and inserting ``December 31, 2006''.
(2) Effective date.--The amendment made by paragraph (1) shall
apply to requests made after December 31, 2005.
Subtitle A--Tax Technicals

64f54a8d92eff550a7fca65e6c33f5d0ba75685690447d0ef7a3dbeb15339c40

This subtitle may be cited as the ``Tax Technical Corrections Act
of 2005''.

dda5de52ed6a00120bde472b90519813ac3c6f7b927e8cf20acd77f98055a7a0

(a) Amendments Related to Section 1263.--
(1) Part VI of subchapter O of chapter 1 is repealed.
(2) Section 1223 is amended by striking paragraph (3) and by
redesignating paragraphs (4) through (16) as paragraphs (3) through
(15), respectively.
(3) Section 121(g) is amended by striking ``1223(7)'' and
inserting ``1223(6)''.
(4) Section 246(c)(3)(B) is amended by striking ``paragraph (4)
of section 1223'' and inserting ``paragraph (3) of section 1223''.
(5) Section 247(b)(2)(D) is amended by inserting ``as in effect
before its repeal'' after ``part VI of subchapter O''.
(6)(A) Section 1245(b) is amended by striking paragraph (5) and
redesignating paragraphs (6) through (9) as paragraphs (5) through
(8), respectively.
(B) Section 1245(b)(3) is amended by striking ``paragraph (7)''
and inserting ``paragraph (6)''.
(7)(A) Section 1250(d) is amended by striking paragraph (5) and
redesignating paragraphs (6) through (8) as paragraphs (5) through
(7), respectively.
(B) Section 1250(e)(2) is amended by striking ``(3), or (5)''
and inserting ``or (3)''.
(b) Amendment Related to Section 1301.--Clause (ii) of section
45(c)(3)(A) is amended by striking ``nonhazardous lignin waste
material'' and inserting ``lignin material''.
(c) Amendments Related to Section 1303.--
(1) Subsection (l) of section 54 is amended by striking
paragraph (5), and by redesignating paragraphs (6) and (7) as
paragraphs (5) and (6), respectively.
(2) Subsection (e) of section 1303 of the Energy Policy Act of
2005 is amended to read as follows:
``(e) Effective Dates.--
``(1) In general.--Except as provided in paragraph (2), the
amendments made by this section shall apply to bonds issued after
December 31, 2005.
``(2) Subsection (c).--The amendments made by subsection (c)
shall apply to taxable years beginning after December 31, 2005.''.
(d) Amendments Related to Section 1306.--
(1) Paragraph (2) of section 45J(c) is amended to read as
follows:
``(2) Phaseout of credit.--
``(A) In general.--The amount of the credit determined
under subsection (a) shall be reduced by an amount which bears
the same ratio to the amount of the credit (determined without
regard to this paragraph) as--
``(i) the amount by which the reference price (as
defined in section 45(e)(2)(C)) for the calendar year in
which the sale occurs exceeds 8 cents, bears to
``(ii) 3 cents.
``(B) Phaseout adjustment based on inflation.--The 8 cent
amount in subparagraph (A) shall be adjusted by multiplying
such amount by the inflation adjustment factor (as defined in
section 45(e)(2)(B)) for the calendar year in which the sale
occurs. If any amount as increased under the preceding sentence
is not a multiple of 0.1 cent, such amount shall be rounded to
the nearest multiple of 0.1 cent.''.
(2) Subsection (e) of section 45J is amended by striking
``(2),''.
(e) Amendment Related to Section 1309.--Subparagraph (B) of section
169(d)(5) is amended by adding at beginning thereof ``in the case of
facility placed in service in connection with a plant or other property
placed in operation after December 31, 1975,''.
(f) Amendments Related to Section 1311.--
(1) Clause (i) of section 172(b)(1)(I) is amended to read as
follows:
``(i) In general.--At the election of the taxpayer for
any taxable year ending after December 31, 2005, and before
January 1, 2009, in the case of a net operating loss for a
taxable year ending after December 31, 2002, and before
January 1, 2006, there shall be a net operating loss
carryback to each of the 5 taxable years preceding the
taxable year of such loss to the extent that such loss does
not exceed 20 percent of the sum of the electric
transmission property capital expenditures and the
pollution control facility capital expenditures of the
taxpayer for the taxable year preceding the taxable year
for which such election is made.''.
(2) Clause (ii) of section 172(b)(1)(I) is amended by striking
``in a taxable year'' and inserting ``for a taxable year''.
(3) Subparagraph (I) of section 172(b)(1) is amended by
striking clause (iv) and (v), by redesignating clause (vi) as
clause (v), and by inserting after clause (iii) the following:
``(iv) Special rules relating to credit or refund.--In
the case of the portion of the loss which is carried back 5
years by reason of clause (i)--
``(I) an application under section 6411(a) with
respect to such portion shall not fail to be treated as
timely filed if filed within 24 months after the due
date specified under such section, and
``(II) references in sections 6501(h),
6511(d)(2)(A), and 6611(f)(1) to the taxable year in
which such net operating loss arises or results in a
net operating loss carryback shall be treated as
references to the taxable year for which such election
is made.''.
(g) Amendment Related to Section 1322.--Subsection (a) of section
45K is amended by striking ``if the taxpayer elects to have this
section apply,''.
(h) Amendment Related to Section 1331.--Paragraph (3) of section
1250(b) is amended by striking ``or by section 179D''.
(i) Amendments Related to Section 1335.--
(1) Paragraph (1) of section 25D(b) is amended by inserting
``(determined without regard to subsection (c))'' after
``subsection (a)''.
(2) Subparagraphs (A) and (B) of section 25D(e)(4) are amended
to read as follows:
``(A) Maximum expenditures.--The maximum amount of
expenditures which may be taken into account under subsection
(a) by all such individuals with respect to such dwelling unit
during such calendar year shall be--
``(i) $6,667 in the case of any qualified photovoltaic
property expenditures,
``(ii) $6,667 in the case of any qualified solar water
heating property expenditures, and
``(iii) $1,667 in the case of each half kilowatt of
capacity of qualified fuel cell property (as defined in
section 48(c)(1)) for which qualified fuel cell property
expenditures are made.
``(B) Allocation of expenditures.--The expenditures
allocated to any individual for the taxable year in which such
calendar year ends shall be an amount equal to the lesser of--
``(i) the amount of expenditures made by such
individual with respect to such dwelling during such
calendar year, or
``(ii) the maximum amount of such expenditures set
forth in subparagraph (A) multiplied by a fraction--
``(I) the numerator of which is the amount of such
expenditures with respect to such dwelling made by such
individual during such calendar year, and
``(II) the denominator of which is the total
expenditures made by all such individuals with respect
to such dwelling during such calendar year.''.
(3)(A)(i) The matter preceding subparagraph (A) of section
23(b)(4) is amended by striking ``The credit'' and inserting ``In
the case of a taxable year to which section 26(a)(2) does not
apply, the credit''.
(ii) Subsection (c) of section 23 is amended to read as
follows:
``(c) Carryforwards of Unused Credit.--
``(1) Rule for years in which all personal credits allowed
against regular and alternative minimum tax.--In the case of a
taxable year to which section 26(a)(2) applies, if the credit
allowable under subsection (a) for any taxable year exceeds the
limitation imposed by section 26(a)(2) for such taxable year
reduced by the sum of the credits allowable under this subpart
(other than this section and sections 25D and 1400C), such excess
shall be carried to the succeeding taxable year and added to the
credit allowable under subsection (a) for such taxable year.
``(2) Rule for other years.--In the case of a taxable year to
which section 26(a)(2) does not apply, if the credit allowable
under subsection (a) for any taxable year exceeds the limitation
imposed by subsection (b)(4) for such taxable year, such excess
shall be carried to the succeeding taxable year and added to the
credit allowable under subsection (a) for such taxable year.
``(3) Limitation.--No credit may be carried forward under this
subsection to any taxable year following the fifth taxable year
after the taxable year in which the credit arose. For purposes of
the preceding sentence, credits shall be treated as used on a
first-in first-out basis.''.
(B)(i) The matter preceding subparagraph (A) of section
24(b)(3) is amended by striking ``The credit'' and inserting ``In
the case of a taxable year to which section 26(a)(2) does not
apply, the credit''.
(ii) Paragraph (1) of section 24(d) is amended to read as
follows:
``(1) In general.--The aggregate credits allowed to a taxpayer
under subpart C shall be increased by the lesser of--
``(A) the credit which would be allowed under this section
without regard to this subsection and the limitation under
section 26(a)(2) or subsection (b)(3), as the case may be, or
``(B) the amount by which the aggregate amount of credits
allowed by this subpart (determined without regard to this
subsection) would increase if the limitation imposed by section
26(a)(2) or subsection (b)(3), as the case may be, were
increased by the excess (if any) of--
``(i) 15 percent of so much of the taxpayer's earned
income (within the meaning of section 32) which is taken
into account in computing taxable income for the taxable
year as exceeds $10,000, or
``(ii) in the case of a taxpayer with 3 or more
qualifying children, the excess (if any) of--
``(I) the taxpayer's social security taxes for the
taxable year, over
``(II) the credit allowed under section for the
taxable year.
The amount of the credit allowed under this subsection shall not be
treated as a credit allowed under this subpart and shall reduce the
amount of credit otherwise allowable under subsection (a) without
regard to section 26(a)(2) or subsection (b)(3), as the case may
be. For purposes of subparagraph (B), any amount excluded from
gross income by reason of section 112 shall be treated as earned
income which is taken into account in computing taxable income for
the taxable year.''.
(C) Subparagraph (C) of section 25(e)(1) is amended to read as
follows:
``(C) Applicable tax limit.--For purposes of this
paragraph, the term `applicable tax limit' means--
``(i) in the case of a taxable year to which section
26(a)(2) applies, the limitation imposed by section
26(a)(2) for the taxable year reduced by the sum of the
credits allowable under this subpart (other than this
section and sections 23, 25D, and 1400C), and
``(ii) in the case of a taxable year to which section
26(a)(2) does not apply, the limitation imposed by section
26(a)(1) for the taxable year reduced by the sum of the
credits allowable under this subpart (other than this
section and sections 23, 24, 25B, 25D, and 1400C).''.
(D) The matter preceding paragraph (1) of section 25B(g) is
amended by striking ``The credit'' and inserting ``In the case of a
taxable year to which section 26(a)(2) does not apply, the
credit''.
(E) Subsection (c) of section 25D is amended to read as
follows:
``(c) Carryforward of Unused Credit.--
``(1) Rule for years in which all personal credits allowed
against regular and alternative minimum tax.--In the case of a
taxable year to which section 26(a)(2) applies, if the credit
allowable under subsection (a) exceeds the limitation imposed by
section 26(a)(2) for such taxable year reduced by the sum of the
credits allowable under this subpart (other than this section),
such excess shall be carried to the succeeding taxable year and
added to the credit allowable under subsection (a) for such
succeeding taxable year.
``(2) Rule for other years.--In the case of a taxable year to
which section 26(a)(2) does not apply, if the credit allowable
under subsection (a) exceeds the limitation imposed by section
26(a)(1) for such taxable year reduced by the sum of the credits
allowable under this subpart (other than this section and sections
23, 24, and 25B), such excess shall be carried to the succeeding
taxable year and added to the credit allowable under subsection (a)
for such succeeding taxable year.''.
(F) Subsection (d) of section 1400C is amended to read as
follows:
``(d) Carryforward of Unused Credit.--
``(1) Rule for years in which all personal credits allowed
against regular and alternative minimum tax.--In the case of a
taxable year to which section 26(a)(2) applies, if the credit
allowable under subsection (a) exceeds the limitation imposed by
section 26(a)(2) for such taxable year reduced by the sum of the
credits allowable under subpart A of part IV of subchapter A (other
than this section and section 25D), such excess shall be carried to
the succeeding taxable year and added to the credit allowable under
subsection (a) for such taxable year.
``(2) Rule for other years.--In the case of a taxable year to
which section 26(a)(2) does not apply, if the credit allowable
under subsection (a) exceeds the limitation imposed by section
26(a)(1) for such taxable year reduced by the sum of the credits
allowable under subpart A of part IV of subchapter A (other than
this section and sections 23, 24, 25B, and 25D), such excess shall
be carried to the succeeding taxable year and added to the credit
allowable under subsection (a) for such taxable year.''.
(G) Subsection (i) of section 904 is amended to read as
follows:
``(i) Coordination With Nonrefundable Personal Credits.--In the
case of any taxable year of an individual to which section 26(a)(2)
does not apply, for purposes of subsection (a), the tax against which
the credit is taken is such tax reduced by the sum of the credits
allowable under subpart A of part IV of subchapter A of this chapter
(other than sections 23, 24, and 25B).''.
(H) Application of egtrra sunset.--The amendments made by this
paragraph (and each part thereof) shall be subject to title IX of
the Economic Growth and Tax Relief Reconciliation Act of 2001 in
the same manner as the provisions of such Act to which such
amendment (or part thereof) relates.
(4) Subsection (b) of section 1335 of the Energy Policy Act of
2005 is amended by striking paragraphs (1), (2), and (3). The
Internal Revenue Code of 1986 shall be applied and administered as
if the amendments made such paragraphs had never been enacted.
(j) Amendment Related to Section 1341.--Paragraph (6) of section
30B(h) is amended by adding at the end the following sentence: ``For
purposes of subsection (g), property to which this paragraph applies
shall be treated as of a character subject to an allowance for
depreciation.''.
(k) Amendment Related to Section 1342.--Paragraph (2) of section
30C(e) is amended by adding at the end the following sentence: ``For
purposes of subsection (d), property to which this paragraph applies
shall be treated as of a character subject to an allowance for
depreciation.''.
(l) Amendments Related to Section 1351.--
(1) Paragraph (6) of section 41(f) (relating to special rules)
is amended by adding at the end the following:
``(C) Foreign research.--For purposes of subsection (a)(3),
amounts paid or incurred for any energy research conducted
outside the United States, the Commonwealth of Puerto Rico, or
any possession of the United States shall not be taken into
account.
``(D) Denial of double benefit.--Any amount taken into
account under subsection (a)(3) shall not be taken into account
under paragraph (1) or (2) of subsection (a).''.
(2) Clause (ii) of section 41(b)(3)(C) is amended by striking
``(other than an energy research consortium)''.
(m) Effective Date.--
(1) In general.--Except as provided in paragraphs (2) and (3),
the amendments made by this section shall take effect as if
included in the provisions of the Energy Policy Act of 2005 to
which they relate.
(2) Repeal of public utility holding company act of 1935.--The
amendments made by subsection (a) shall not apply with respect to
any transaction ordered in compliance with the Public Utility
Holding Company Act of 1935 before its repeal.
(3) Coordination of personal credits.--The amendments made by
subsection (i)(3) shall apply to taxable years beginning after
December 31, 2005.

416065c4b11d0c75cb56e5c9011a7e1f4a7d073fd57214e381938de69fab0996

ecf26495759e165f9fa4ff6dfbdba676ba76a8f353012a0e3a5c8b82070a313e

2004.
(a) Amendment Related to Section 201 of the Act.--Subsection (e) of
section 152 is amended to read as follows:
``(e) Special Rule for Divorced Parents, Etc.--
``(1) In general.--Notwithstanding subsection (c)(1)(B),
(c)(4), or (d)(1)(C), if--
``(A) a child receives over one-half of the child's support
during the calendar year from the child's parents--
``(i) who are divorced or legally separated under a
decree of divorce or separate maintenance,
``(ii) who are separated under a written separation
agreement, or
``(iii) who live apart at all times during the last 6
months of the calendar year, and--
``(B) such child is in the custody of 1 or both of the
child's parents for more than one-half of the calendar year,
such child shall be treated as being the qualifying child or
qualifying relative of the noncustodial parent for a calendar
year if the requirements described in paragraph (2) or (3) are
met.
``(2) Exception where custodial parent releases claim to
exemption for the year.--For purposes of paragraph (1), the
requirements described in this paragraph are met with respect to
any calendar year if--
``(A) the custodial parent signs a written declaration (in
such manner and form as the Secretary may by regulations
prescribe) that such custodial parent will not claim such child
as a dependent for any taxable year beginning in such calendar
year, and
``(B) the noncustodial parent attaches such written
declaration to the noncustodial parent's return for the taxable
year beginning during such calendar year.
``(3) Exception for certain pre-1985 instruments.--
``(A) In general .--For purposes of paragraph (1), the
requirements described in this paragraph are met with respect
to any calendar year if--
``(i) a qualified pre-1985 instrument between the
parents applicable to the taxable year beginning in such
calendar year provides that the noncustodial parent shall
be entitled to any deduction allowable under section 151
for such child, and
``(ii) the noncustodial parent provides at least $600
for the support of such child during such calendar year.
For purposes of this subparagraph, amounts expended for the
support of a child or children shall be treated as received
from the noncustodial parent to the extent that such parent
provided amounts for such support.
``(B) Qualified pre-1985 instrument.--For purposes of this
paragraph, the term `qualified pre-1985 instrument' means any
decree of divorce or separate maintenance or written
agreement--
``(i) which is executed before January 1, 1985,
``(ii) which on such date contains the provision
described in subparagraph (A)(i), and
``(iii) which is not modified on or after such date in
a modification which expressly provides that this paragraph
shall not apply to such decree or agreement.
``(4) Custodial parent and noncustodial parent.--For purposes
of this subsection--
``(A) Custodial parent.--The term `custodial parent' means
the parent having custody for the greater portion of the
calendar year.
``(B) Noncustodial parent.--The term `noncustodial parent'
means the parent who is not the custodial parent.
``(5) Exception for multiple-support agreement.--This
subsection shall not apply in any case where over one-half of the
support of the child is treated as having been received from a
taxpayer under the provision of subsection (d)(3).
``(6) Special rule for support received from new spouse of
parent.--For purposes of this subsection, in the case of the
remarriage of a parent, support of a child received from the
parent's spouse shall be treated as received from the parent.''.
(b) Amendment Related to Section 203 of the Act.--Subparagraph (B)
of section 21(b)(1) is amended by inserting ``(as defined in section
152, determined without regard to subsections (b)(1), (b)(2), and
(d)(1)(B))'' after ``dependent of the taxpayer''.
(c) Amendment Related to Section 207 of the Act.--Subparagraph (A)
of section 223(d)(2) is amended by inserting ``, determined without
regard to subsections (b)(1), (b)(2), and (d)(1)(B) thereof'' after
``section 152''.
(d) Effective Date.--The amendments made by this section shall take
effect as if included in the provisions of the Working Families Tax
Relief Act of 2004 to which they relate.

d8745881ed43af1f5f931006448ff990dc5c15a42f25cd83a9d8fef294f1ce61

RECONCILIATION ACT OF 2003.
(a) Amendments Related to Section 201 of the Act.--
(1) Clause (ii) of section 168(k)(4)(B) is amended to read as
follows:
``(ii) which is--
``(I) acquired by the taxpayer after May 5, 2003,
and before January 1, 2005, but only if no written
binding contract for the acquisition was in effect
before May 6, 2003, or
``(II) acquired by the taxpayer pursuant to a
written binding contract which was entered into after
May 5, 2003, and before January 1, 2005, and''.
(2) Subparagraph (D) of section 1400L(b)(2) is amended by
striking ``September 11, 2004'' and inserting ``January 1, 2005''.
(b) Effective Date.--The amendments made by this section shall take
effect as if included in section 201 of the Jobs and Growth Tax Relief
and Reconciliation Act of 2003.

aa0720dac03451d7bb968a9434f07021851db658924e1037416b72689dd62809

OF 2001.
(a) Amendment Related to Section 201 of the Act.--Paragraph (17) of
section 6103(l) is amended by striking ``subsection (f), (i)(7), or
(p)'' and inserting ``subsection (f), (i)(8), or (p)''.
(b) Effective Date.--The amendment made by this section shall take
effect as if included in section 201 of the Victims of Terrorism Tax
Relief Act of 2001.

e8f50f25833ecbca242d982ca7975925a2dcaa8a4f0c60a62194e915ecc58b14

RECONCILIATION ACT OF 2001.
(a) Amendments Related to Section 617 of the Act.--
(1) Clause (ii) of section 402(g)(7)(A) is amended to read as
follows:
``(ii) $15,000 reduced by the sum of--
``(I) the amounts not included in gross income for
prior taxable years by reason of this paragraph, plus
``(II) the aggregate amount of designated Roth
contributions (as defined in section 402A(c)) for prior
taxable years, or''.
(2) Subparagraph (A) of section 402(g)(1) is amended by
inserting ``to'' after ``shall not apply''.
(b) Amendment Related to Section 632 of the Act.--Subparagraph (C)
of section 415(c)(7) is amended by striking ``the greater of $3,000''
and all that follows and inserting ``$3,000. This subparagraph shall
not apply with respect to any taxable year to any individual whose
adjusted gross income for such taxable year (determined separately and
without regard to community property laws) exceeds $17,000.''.
(c) Effective Date.--The amendments made by this section shall take
effect as if included in the provisions of the Economic Growth and Tax
Relief Reconciliation Act of 2001 to which they relate.

6a6a0f69b9dcfe29202feb34ce318afbe0eff89debb799554a3a084a4afc2bea

RESTRUCTURING AND REFORM ACT OF 1998.
(a) Amendments Related to Section 3415 of the Act.--
(1) Paragraph (2) of section 7609(c) is amended by inserting
``or'' at the end of subparagraph (D), by striking ``; or'' at the
end of subparagraph (E) and inserting a period, and by striking
subparagraph (F).
(2) Subsection (c) of section 7609 is amended by redesignating
paragraph (3) as paragraph (4) and by inserting after paragraph (2)
the following new paragraph:
``(3) John doe and certain other summonses.--Subsection (a)
shall not apply to any summons described in subsection (f) or
(g).''.
(b) Effective Date.--The amendments made by this section shall take
effect as if included in section 3415 of the Internal Revenue Service
Restructuring and Reform Act of 1998.

92e97a63c3c17c63ed2c9ca79363dd62320de4e433c08e0e802143a1845ddacc

(a) Amendments Related to Section 1055 of the Act.--
(1) The last sentence of section 6411(a) is amended by striking
``6611(f)(3)(B)'' and inserting ``6611(f)(4)(B)''.
(2) Paragraph (4) of section 6601(d) is amended by striking
``6611(f)(3)(A)'' and inserting ``6611(f)(4)(A)''.
(b) Amendment Related to Section 1112 of the Act.--Subsection (c)
of section 961 is amended to read as follows:
``(c) Basis Adjustments in Stock Held by Foreign Corporations.--
Under regulations prescribed by the Secretary, if a United States
shareholder is treated under section 958(a)(2) as owning stock in a
controlled foreign corporation which is owned by another controlled
foreign corporation, then adjustments similar to the adjustments
provided by subsections (a) and (b) shall be made to--
``(1) the basis of such stock, and
``(2) the basis of stock in any other controlled foreign
corporation by reason of which the United States shareholder is
considered under section 958(a)(2) as owning the stock described in
paragraph (1),
but only for the purposes of determining the amount included under
section 951 in the gross income of such United States shareholder (or
any other United States shareholder who acquires from any person any
portion of the interest of such United States shareholder by reason of
which such shareholder was treated as owning such stock, but only to
the extent of such portion, and subject to such proof of identity of
such interest as the Secretary may prescribe by regulations). The
preceding sentence shall not apply with respect to any stock to which a
basis adjustment applies under subsection (a) or (b).''.
(c) Amendment Related to Section 1144 of the Act.--Subparagraph (B)
of section 6038B(a)(1) is amended by inserting ``or'' at the end.
(d) Effective Date.--The amendments made by this section shall take
effect as if included in the provisions of the Taxpayer Relief Act of
1997 to which they relate.

6ce5f626f0e2b6778a9a748cf089e2e9fadb58bc51e31500e4ab726bfd0c6370

1990.
(a) Amendment Related to Section 11813 of the Act.--Subclause (I)
of section 168(e)(3)(B)(vi) is amended by striking ``if `solar and
wind' were substituted for `solar' in clause (i) thereof'' and
inserting ``if `solar or wind energy' were substituted for `solar
energy' in clause (i) thereof''.
(b) Effective Date.--The amendment made by this section shall take
effect as if included in section 11813 of the Omnibus Budget
Reconciliation Act of 1990.

0a8b7dac200d534fd6e3c9c775d5ae55ce73daf7cea1eb71583816f0b677e165

1987.
(a) Amendment Related to Section 10227 of the Act.--Section 1363(d)
is amended by adding at the end the following new paragraph:
``(5) Special rule.--Sections 1367(a)(2)(D) and 1371(c)(1)
shall not apply with respect to any increase in the tax imposed by
reason of this subsection.''.
(b) Effective Date.--The amendment made by this section shall take
effect as if included in section 10227 of the Omnibus Budget
Reconciliation Act of 1987.

14c2f5708488b860e2816cea0bc5f3d265d6b4f8ab0edb54c9585583a6a44233

(a) Subparagraph (C) of section 2(b)(2) is amended by striking
``subparagraph (C)'' and inserting ``subparagraph (B)''.
(b) Paragraph (2) of section 25C(b) is amended by striking
``subsection (c)(3)(B)'' and inserting ``subsection (c)(2)(B)''.
(c) Subparagraph (E) of section 26(b)(2) is amended by striking
``section 530(d)(3)'' and inserting ``section 530(d)(4)''.
(d) Subparagraph (A) of section 30B(g)(2) and subparagraph (A) of
section 30C(d)(2) are each amended by striking ``regular tax'' and
inserting ``regular tax liability (as defined in section 26(b))''.
(e) The table of sections for subpart B of part IV of subchapter A
of chapter 1 is amended by striking the item relating to section 30C
and inserting the following new item:
``Sec. 30C. Alternative fuel vehicle refueling property credit.''.
(f)(1) Subclause (II) of section 38(c)(2)(A)(ii) is amended by
striking ``or the New York Liberty Zone business employee credit or the
specified credits'' and inserting ``, the New York Liberty Zone
business employee credit, and the specified credits''.
(2) Subclause (II) of section 38(c)(3)(A)(ii) is amended by
striking ``or the specified credits'' and inserting ``and the specified
credits''.
(3) Subparagraph (B) of section 38(c)(4) is amended--
(A) by striking ``includes'' and inserting ``means'', and
(B) by inserting ``and'' at the end of clause (i).
(g)(1) Subparagraph (A) of section 39(a)(1) is amended by striking
``each of the 1 taxable years'' and inserting ``the taxable year''.
(2) Subparagraph (B) of section 39(a)(3) is amended to read as
follows:
``(B) paragraph (1) shall be applied by substituting `each
of the 5 taxable years' for `the taxable year' in subparagraph
(A) thereof, and''.
(h) Subparagraph (B) of section 40A(b)(5) is amended by striking
``(determined without regard to the last sentence of subsection
(d)(2))''.
(i) Paragraph (5) of section 43(c) is amended to read as follows:
``(5) Alaska natural gas.--For purposes of paragraph (1)(D)--
``(A) In general.--The term `Alaska natural gas' means
natural gas entering the Alaska natural gas pipeline (as
defined in section 168(i)(16) (determined without regard to
subparagraph (B) thereof)) which is produced from a well--
``(i) located in the area of the State of Alaska lying
north of 64 degrees North latitude, determined by excluding
the area of the Alaska National Wildlife Refuge (including
the continental shelf thereof within the meaning of section
638(1)), and
``(ii) pursuant to the applicable State and Federal
pollution prevention, control, and permit requirements from
such area (including the continental shelf thereof within
the meaning of section 638(1)).
``(B) Natural gas.--The term `natural gas' has the meaning
given such term by section 613A(e)(2).''.
(j) Subsection (d) of section 45 is amended--
(1) in paragraph (8) by striking ``The term'' and inserting
``In the case of a facility that produces refined coal, the term'',
and
(2) in paragraph (10) by striking ``The term'' and inserting
``In the case of a facility that produces Indian coal, the term''.
(k) Paragraph (2) of section 45I(a) is amended by striking
``qualified credit oil production'' and inserting ``qualified crude oil
production''.
(l) Subsection (g) of section 45K, as redesignated by section 1322
of the Energy Policy Act of 2005, is amended--
(1) in the matter preceding paragraph (1), by striking
``subsection (f)'' and inserting ``subsection (e)'', and
(2) in paragraph (2)(C), by striking ``subsection (g)'' and
inserting ``subsection (f)''.
(m) Paragraph (1) of section 48(a), as amended by section 1336 of
the Energy Policy Act of 2005, is amended by striking ``paragraph
(1)(B) or (2)(B) of subsection (d)'' and inserting ``paragraphs (1)(B)
and (2)(B) of subsection (c)''.
(n) Subparagraph (A) of section 48(a)(3) is amended--
(1) by redesignating clause (iii) (relating to qualified fuel
cell property or qualified microturbine property), as added by
section 1336 of the Energy Policy Act of 2005, as clause (iv) and
by moving such clause to the end of such subparagraph, and
(2) by striking ``or'' at the end of clause (ii).
(o) Subparagraph (E) of section 50(a)(2) is amended by striking
``section 48(a)(5)'' and inserting ``section 48(b)''.
(p)(1) Paragraph (3) of section 55(c) is amended by inserting
``30B(g)(2), 30C(d)(2),'' after ``30(b)(3),''.
(2) Section 1341(b)(3) of the Energy Policy Act of 2005 is
repealed.
(3) Section 1342(b)(3) of the Energy Policy Act of 2005 is
repealed.
(q)(1) Subsection (a) of section 62 is amended--
(A) by redesignating paragraph (19) (relating to costs
involving discrimination suits, etc.), as added by section 703 of
the American Jobs Creation Act of 2004, as paragraph (20), and
(B) by moving such paragraph after paragraph (19) (relating to
health savings accounts).
(2) Subsection (e) of section 62 is amended by striking
``subsection (a)(19)'' and inserting ``subsection (a)(20)''.
(r) Paragraph (3) of section 167(f) is amended by striking
``section 197(e)(7)'' and inserting ``section 197(e)(6)''.
(s) Subparagraph (D) of section 168(i)(15) is amended by striking
``This paragraph shall not apply to'' and inserting ``Such term shall
not include''.
(t) Paragraph (2) of section 221(d) is amended by striking ``this
Act'' and inserting ``the Taxpayer Relief Act of 1997''.
(u) Paragraph (8) of section 318(b) is amended by striking
``section 6038(d)(2)'' and inserting ``section 6038(e)(2)''.
(v) Subparagraph (B) of section 332(d)(1) is amended by striking
``distribution to which section 301 applies'' and inserting
``distribution of property to which section 301 applies''.
(w) Subparagraph (B) of section 403(b)(9) is amended by inserting
``or'' before ``a convention''.
(x)(1) Clause (i) of section 412(m)(4)(B) is amended by striking
``subsection (c)'' and inserting ``subsection (d)''.
(2) Clause (i) of section 302(e)(4)(B) of the Employee Retirement
Income Security Act of 1974 is amended by striking ``subsection (c)''
and inserting ``subsection (d)''.
(y) Paragraph (1) of section 415(l) is amended by striking
``individual medical account'' and inserting ``individual medical
benefit account''.
(z) The matter following clause (iv) of section 415(n)(3)(C) is
amended by striking ``clauses'' and inserting ``clause''.
(aa) Subparagraph (C) of section 461(i)(3) is amended by striking
``section 6662(d)(2)(C)(iii)'' and inserting ``section
6662(d)(2)(C)(ii)''.
(bb) Paragraph (12) of section 501(c) is amended--
(1) by striking ``subparagraph (C)(iii)'' in subparagraph (F)
and inserting ``subparagraph (C)(iv)'', and
(2) by striking ``subparagraph (C)(iv)'' in subparagraph (G)
and inserting ``subparagraph (C)(v)''.
(cc) Clause (ii) of section 501(c)(22)(B) is amended by striking
``clause (ii) of paragraph (21)(B)'' and inserting ``clause (ii) of
paragraph (21)(D)''.
(dd) Paragraph (1) of section 512(b) is amended by striking
``section 512(a)(5)'' and inserting ``subsection (a)(5)''.
(ee)(1) Subsection (b) of section 512 is amended--
(A) by redesignating paragraph (18) (relating to the treatment
of gain or loss on sale or exchange of certain brownfield sites),
as added by section 702 of the American Jobs Creation Act of 2004,
as paragraph (19), and
(B) by moving such paragraph to the end of such subsection.
(2) Subparagraph (E) of section 514(b)(1) is amended by striking
``section 512(b)(18)'' and inserting ``section 512(b)(19)''.
(3) Paragraph (6) of section 529(c) is amended by striking
``education individual retirement account'' and inserting ``Coverdell
education savings account''.
(ff)(1) Subsection (b) of section 530 is amended by striking
paragraph (3) and by redesignating paragraphs (4) and (5) as paragraphs
(3) and (4), respectively.
(2) Clause (ii) of section 530(b)(2)(A) is amended by striking
``paragraph (4)'' and inserting ``paragraph (3)''.
(gg) Subparagraph (H) of section 613(c)(4) is amended by inserting
``(including in situ retorting)'' after ``and retorting''.
(hh) Subparagraph (A) of section 856(g)(5) is amended by striking
``subsection (c)(6) or (c)(7) of section 856'' and inserting
``paragraph (2), (3), or (4) of subsection (c)''.
(ii) Paragraph (6) of section 857(b) is amended--
(1) in subparagraph (E), by striking ``subparagraph (C)'' and
inserting ``subparagraphs (C) and (D)'', and
(2) in subparagraph (F)--
(A) by striking ``subparagraph (C) of this paragraph'' and
inserting ``subparagraph (C) or (D)'', and
(B) by striking ``subparagraphs (C) and (D)'' and inserting
``subparagraphs (C), (D), and (E)''.
(jj) Subparagraph (C) of section 881(e)(1) is amended by inserting
``interest-related dividend received by a controlled foreign
corporation'' after ``shall apply to any''.
(kk) Clause (ii) of section 952(c)(1)(B) is amended--
(1) by striking ``clause (iii)(III) or (IV)'' and inserting
``subclause (II) or (III) of clause (iii)'', and
(2) by striking ``clause (iii)(II)'' and inserting ``clause
(iii)(I)''.
(ll) Clause (i) of section 954(c)(1)(C) is amended by striking
``paragraph (4)(A)'' and inserting ``paragraph (5)(A)''.
(mm) Subparagraph (F) of section 954(c)(1) is amended by striking
``Net income from notional principal contracts.'' after ``Income from
notional principal contracts.--''.
(nn) Paragraph (23) of section 1016(a) is amended by striking
``1045(b)(4)'' and inserting ``1045(b)(3)''.
(oo) Paragraph (1) of section 1256(f) is amended by striking
``subsection (e)(2)(C)'' and inserting ``subsection (e)(2)''.
(pp) The matter preceding clause (i) of section 1031(h)(2)(B) is
amended by striking ``subparagraph'' and inserting ``subparagraphs''.
(qq) Paragraphs (1) and (2) of section 1375(d) are each amended by
striking ``subchapter C'' and inserting ``accumulated''.
(rr) Each of the following provisions are amended by striking
``General Accounting Office'' each place it appears therein and
inserting ``Government Accountability Office'':
(1) Clause (ii) of section 1400E(c)(4)(A).
(2) Paragraph (1) of section 6050M(b).
(3) Subparagraphs (A), (B)(i), and (B)(ii) of section
6103(i)(8).
(4) Paragraphs (3)(C)(i), (4), (5), and (6)(B) of section
6103(p).
(5) Subsection (e) of section 8021.
(ss)(1) Clause (ii) of section 1400L(b)(2)(C) is amended by
striking ``section 168(k)(2)(C)(i)'' and inserting ``section
168(k)(2)(D)(i)''.
(2) Clause (iv) of section 1400L(b)(2)(C) is amended by striking
``section 168(k)(2)(C)(iii)'' and inserting ``section
168(k)(2)(D)(iii)''.
(3) Subparagraph (D) of section 1400L(b)(2) is amended by striking
``section 168(k)(2)(D)'' and inserting ``section 168(k)(2)(E)''.
(4) Subparagraph (E) of section 1400L(b)(2) is amended by striking
``section 168(k)(2)(F)'' and inserting ``section 168(k)(2)(G)''.
(5) Paragraph (5) of section 1400L(c) is amended by striking
``section 168(k)(2)(C)(iii)'' and inserting ``section
168(k)(2)(D)(iii)''.
(tt) Section 3401 is amended by redesignating subsection (h) as
subsection (g).
(uu) Paragraph (2) of section 4161(a) is amended to read as
follows:
``(2) 3 percent rate of tax for electric outboard motors.--In
the case of an electric outboard motor, paragraph (1) shall be
applied by substituting `3 percent' for `10 percent'.''.
(vv) Subparagraph (C) of section 4261(e)(4) is amended by striking
``imposed subsection (b)'' and inserting ``imposed by subsection (b)''.
(ww) Subsection (a) of section 4980D is amended by striking
``plans'' and inserting ``plan''.
(xx) The matter following clause (iii) of section 6045(e)(5)(A) is
amended by striking ``for `$250,000'.'' and all that follows through
``to the Treasury.'' and inserting ``for `$250,000'. The Secretary may
by regulation increase the dollar amounts under this subparagraph if
the Secretary determines that such an increase will not materially
reduce revenues to the Treasury.''.
(yy) Subsection (p) of section 6103 is amended--
(1) by striking so much of paragraph (4) as precedes
subparagraph (A) and inserting the following:
``(4) Safeguards.--Any Federal agency described in subsection
(h)(2), (h)(5), (i)(1), (2), (3), (5), or (7), (j)(1), (2), or (5),
(k)(8), (l)(1), (2), (3), (5), (10), (11), (13), (14), or (17) or
(o)(1), the Government Accountability Office, the Congressional
Budget Office, or any agency, body, or commission described in
subsection (d), (i)(3)(B)(i) or 7(A)(ii), or (l)(6), (7), (8), (9),
(12), (15), or (16) or any other person described in subsection
(l)(16), (18), (19), or (20) shall, as a condition for receiving
returns or return information--'',
(2) by amending paragraph (4)(F)(i) to read as follows:
``(i) in the case of an agency, body, or commission
described in subsection (d), (i)(3)(B)(i), or (l)(6), (7),
(8), (9), or (16), or any other person described in
subsection (l)(16), (18), (19), or (20) return to the
Secretary such returns or return information (along with
any copies made therefrom) or make such returns or return
information undisclosable in any manner and furnish a
written report to the Secretary describing such manner,'',
and
(3) by striking the first full sentence in the matter following
subparagraph (F) of paragraph (4) and inserting the following: ``If
the Secretary determines that any such agency, body, or commission,
including an agency or any other person described in subsection
(l)(16), (18), (19), or (20), or the Government Accountability
Office or the Congressional Budget Office, has failed to, or does
not, meet the requirements of this paragraph, he may, after any
proceedings for review established under paragraph (7), take such
actions as are necessary to ensure such requirements are met,
including refusing to disclose returns or return information to
such agency, body, or commission, including an agency or any other
person described in subsection (l)(16), (18), (19), or (20), or the
Government Accountability Office or the Congressional Budget
Office, until he determines that such requirements have been or
will be met.''.
(zz) Clause (ii) of section 6111(b)(1)(A) is amended by striking
``advice or assistance'' and inserting ``aid, assistance, or advice''.
(aaa) Paragraph (3) of section 6662(d) is amended by striking
``the'' before ``1 or more''.

5bb3e184d41db1b4c10826347d36dde55872cab62e0f75a16ffdae5b0afa537e

OF 2004.
(a) Amendments Related to Section 233 of the Act.--
(1) Clause (vi) of section 1361(c)(2)(A) is amended--
(A) by inserting ``or a depository institution holding
company (as defined in section 3(w)(1) of the Federal Deposit
Insurance Act (12 U.S.C. 1813(w)(1))'' after ``a bank (as
defined in section 581)'', and
(B) by inserting ``or company'' after ``such bank''.
(2) Paragraph (16) of section 4975(d) is amended--
(A) in subparagraph (A), by inserting ``or a depository
institution holding company (as defined in section 3(w)(1) of
the Federal Deposit Insurance Act (12 U.S.C. 1813(w)(1))''
after ``a bank (as defined in section 581)'', and
(B) in subparagraph (C), by inserting ``or company'' after
``such bank''.
(b) Amendment Related to Section 237 of the Act.--Subparagraph (F)
of section 1362(d)(3) is amended by striking ``a bank holding company''
and all that follows through ``section 2(p) of such Act)'' and
inserting ``a depository institution holding company (as defined in
section 3(w)(1) of the Federal Deposit Insurance Act (12 U.S.C.
1813(w)(1))''.
(c) Amendments Related to Section 239 of the Act.--Paragraph (3) of
section 1361(b) is amended--
(1) in subparagraph (A), by striking ``and in the case of
information returns required under part III of subchapter A of
chapter 61'', and
(2) by adding at the end the following new subparagraph:
``(E) Information returns.--Except to the extent provided
by the Secretary, this paragraph shall not apply to part III of
subchapter A of chapter 61 (relating to information
returns).''.
(d) Effective Date.--The amendments made by this section shall take
effect as if included in the provisions of the American Jobs Creation
Act of 2004 to which they relate.
Subtitle B--Trade Technicals

698b44fcc9deda737e44e7da263d0e3455a152b6e8e0424d4e3b6b31ec8dbd3e

RULES OF ORIGIN UNDER PUBLIC LAW 109-53.
Section 203(c) of the Dominican Republic-Central America-United
States Free Trade Agreement Implementation Act (Public Law 109-53; 19
U.S.C. 4033(c)) is amended as follows:
(1) In paragraph (2)(A), by striking all that follows ``the
following build-down method:'' and inserting the following:
av-vnm
``rvc = -------- <greek-e> 100''.
av
(2) In paragraph (3)(A), by striking all that follows ``the
following build-up method:'' and inserting the following:
vom
``rvc = -------- <greek-e> 100''.
av
(3) In paragraph (4)(A), by striking all that follows ``the
following net cost method:'' and inserting the following:
nc-vnm
``rvc = -------- <greek-e> 100''.
nc

a43d54d56ae36bfc3f094b507a0d3c22c1d83c18aa27f527ffbb05dcfdafcc45

Any provision of this Act causing an effect on receipts, budget
authority, or outlays is designated as an emergency requirement
pursuant to section 402 of H. Con. Res. 95 (109th Congress).
Speaker of the House of Representatives.
Vice President of the United States and
President of the Senate.

6ea40b265ad5444bbda979ca37668c3c65db081e38961d76dc4025e37cc58d41

Gulf Opportunity Zone Act of 2005 — HR. 4440

Other Sections

TITLE I

TITLE II

TITLE III

TITLE IV

TITLE V

Want the full experience?