[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 8 Enrolled Bill (ENR)]
H.R.8
One Hundred Twelfth Congress
of the
United States of America
AT THE SECOND SESSION
Begun and held at the City of Washington on Tuesday,
the third day of January, two thousand and twelve
An Act
Entitled the ``American Taxpayer Relief Act of 2012''.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,

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(a) Short Title.--This Act may be cited as the ``American Taxpayer
Relief Act of 2012''.
(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 for this Act is as
follows:

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TITLE II

-INDIVIDUAL TAX EXTENDERS

qualified principal residence indebtedness.

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provided mass transit and parking benefits.

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real property made for conservation purposes.

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Internal Revenue Service to disclose certain return and return
information to certain prison officials.

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TITLE III

-BUSINESS TAX EXTENDERS

median gross income for qualified residential rental project
exempt facility bonds.

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leasehold improvements, qualified restaurant buildings and
improvements, and qualified retail improvements.

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certain real property as section 179 property.

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attributable to domestic production activities in Puerto Rico.

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controlled foreign corporations under foreign personal holding
company rules.

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making charitable contributions of property.

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excise taxes to Puerto Rico and the Virgin Islands.

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TITLE IV

-ENERGY TAX EXTENDERS

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facilities producing energy from certain renewable resources.

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implement FERC or State electric restructuring policy for
qualified electric utilities.

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reemployment and eligibility assessment activities.

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TITLE V

-UNEMPLOYMENT

Unemployment Insurance Act.
Subtitle A--Medicare Extensions

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TITLE VI

-MEDICARE AND OTHER HEALTH EXTENSIONS

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programs.
Subtitle B--Other Health Extensions

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for Indians.
Subtitle C--Other Health Provisions

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Medicare hospital outpatient department prospective payment
system.

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and elimination of overpayment for diabetic supplies.

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Subtitle A--Modifications of Sequestration

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TITLE VIII

-MISCELLANEOUS PROVISIONS

designated Roth accounts without distribution.
Subtitle B--Budgetary Effects

ad9d7df2416fa65ecdf032b3718233868b92932eb4c020c134312bf124a61d0d

TITLE IX

-BUDGET PROVISIONS

(a) Permanent Extension.--
(1) In general.--The Economic Growth and Tax Relief
Reconciliation Act of 2001 is amended by striking title IX.
(2) Conforming amendment.--The Tax Relief, Unemployment
Insurance Reauthorization, and Job Creation Act of 2010 is amended
by striking section 304.
(3) Effective date.--The amendments made by this subsection
shall apply to taxable, plan, or limitation years beginning after
December 31, 2012, and estates of decedents dying, gifts made, or
generation skipping transfers after December 31, 2012.
(b) Application of Income Tax to Certain High-Income Taxpayers.--
(1) Income tax rates.--
(A) Treatment of 25-, 28-, and 33-percent rate brackets.--
Paragraph (2) of section 1(i) is amended to read as follows:
``(2) 25-, 28-, and 33-percent rate brackets.--The tables under
subsections (a), (b), (c), (d), and (e) shall be applied--
``(A) by substituting `25%' for `28%' each place it appears
(before the application of subparagraph (B)),
``(B) by substituting `28%' for `31%' each place it
appears, and
``(C) by substituting `33%' for `36%' each place it
appears.''.
(B) 35-percent rate bracket.--Subsection (i) of section 1
is amended by redesignating paragraph (3) as paragraph (4) and
by inserting after paragraph (2) the following new paragraph:
``(3) Modifications to income tax brackets for high-income
taxpayers.--
``(A) 35-percent rate bracket.--In the case of taxable
years beginning after December 31, 2012--
``(i) the rate of tax under subsections (a), (b), (c),
and (d) on a taxpayer's taxable income in the highest rate
bracket shall be 35 percent to the extent such income does
not exceed an amount equal to the excess of--
``(I) the applicable threshold, over
``(II) the dollar amount at which such bracket
begins, and
``(ii) the 39.6 percent rate of tax under such
subsections shall apply only to the taxpayer's taxable
income in such bracket in excess of the amount to which
clause (i) applies.
``(B) Applicable threshold.--For purposes of this
paragraph, the term `applicable threshold' means--
``(i) $450,000 in the case of subsection (a),
``(ii) $425,000 in the case of subsection (b),
``(iii) $400,000 in the case of subsection (c), and
``(iv) \1/2\ the amount applicable under clause (i)
(after adjustment, if any, under subparagraph (C)) in the
case of subsection (d).
``(C) Inflation adjustment.--For purposes of this
paragraph, with respect to taxable years beginning in calendar
years after 2013, each of the dollar amounts under clauses (i),
(ii), and (iii) of subparagraph (B) shall be adjusted in the
same manner as under paragraph (1)(C)(i), except that
subsection (f)(3)(B) shall be applied by substituting `2012'
for `1992'.''.
(2) Phaseout of personal exemptions and itemized deductions.--
(A) Overall limitation on itemized deductions.--Section 68
is amended--
(i) by striking subsection (b) and inserting the
following:
``(b) Applicable Amount.--
``(1) In general.--For purposes of this section, the term
`applicable amount' means--
``(A) $300,000 in the case of a joint return or a surviving
spouse (as defined in section 2(a)),
``(B) $275,000 in the case of a head of household (as
defined in section 2(b)),
``(C) $250,000 in the case of an individual who is not
married and who is not a surviving spouse or head of household,
and
``(D) \1/2\ the amount applicable under subparagraph (A)
(after adjustment, if any, under paragraph (2)) in the case of
a married individual filing a separate return.
For purposes of this paragraph, marital status shall be determined
under section 7703.
``(2) Inflation adjustment.--In the case of any taxable year
beginning in calendar years after 2013, each of the dollar amounts
under subparagraphs (A), (B), and (C) of paragraph (1) shall be
shall be increased by an amount equal to--
``(A) such dollar amount, multiplied by
``(B) the cost-of-living adjustment determined under
section 1(f)(3) for the calendar year in which the taxable year
begins, except that section 1(f)(3)(B) shall be applied by
substituting `2012' for `1992'.
If any amount after adjustment under the preceding sentence is not
a multiple of $50, such amount shall be rounded to the next lowest
multiple of $50.'', and
(ii) by striking subsections (f) and (g).
(B) Phaseout of deductions for personal exemptions.--
(i) In general.--Paragraph (3) of section 151(d) is
amended--
(I) by striking ``the threshold amount'' in
subparagraphs (A) and (B) and inserting ``the
applicable amount in effect under section 68(b)'',
(II) by striking subparagraph (C) and redesignating
subparagraph (D) as subparagraph (C), and
(III) by striking subparagraphs (E) and (F).
(ii) Conforming amendments.--Paragraph (4) of section
151(d) is amended--
(I) by striking subparagraph (B),
(II) by redesignating clauses (i) and (ii) of
subparagraph (A) as subparagraphs (A) and (B),
respectively, and by indenting such subparagraphs (as
so redesignated) accordingly, and
(III) by striking all that precedes ``in a calendar
year after 1989,'' and inserting the following:
``(4) Inflation adjustment.--In the case of any taxable year
beginning''.
(3) Effective date.--The amendments made by this subsection
shall apply to taxable years beginning after December 31, 2012.
(c) Modifications of Estate Tax.--
(1) Maximum estate tax rate equal to 40 percent.--The table
contained in subsection (c) of section 2001, as amended by section
302(a)(2) of the Tax Relief, Unemployment Insurance
Reauthorization, and Job Creation Act of 2010, is amended by
striking ``Over $500,000'' and all that follows and inserting the
following:
``Over $500,000 but not over $750,000........  $155,800, plus 37 percent of the excess of such amount over
$500,000.
Over $750,000 but not over $1,000,000........  $248,300, plus 39 percent of the excess of such amount over
$750,000.
Over $1,000,000..............................  $345,800, plus 40 percent of the excess of such amount over
$1,000,000.''.
(2) Technical correction.--Clause (i) of section 2010(c)(4)(B)
is amended by striking ``basic exclusion amount'' and inserting
``applicable exclusion amount''.
(3) Effective dates.--
(A) In general.--Except as otherwise provided by in this
paragraph, the amendments made by this subsection shall apply
to estates of decedents dying, generation-skipping transfers,
and gifts made, after December 31, 2012.
(B) Technical correction.--The amendment made by paragraph
(2) shall take effect as if included in the amendments made by
section 303 of the Tax Relief, Unemployment Insurance
Reauthorization, and Job Creation Act of 2010.

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TITLE I

-GENERAL EXTENSIONS

(a) Permanent Extension.--The Jobs and Growth Tax Relief
Reconciliation Act of 2003 is amended by striking section 303.
(b) 20-Percent Capital Gains Rate for Certain High Income
Individuals.--
(1) In general.--Paragraph (1) of section 1(h) is amended by
striking subparagraph (C), by redesignating subparagraphs (D) and
(E) as subparagraphs (E) and (F) and by inserting after
subparagraph (B) the following new subparagraphs:
``(C) 15 percent of the lesser of--
``(i) so much of the adjusted net capital gain (or, if
less, taxable income) as exceeds the amount on which a tax
is determined under subparagraph (B), or
``(ii) the excess of--
``(I) the amount of taxable income which would
(without regard to this paragraph) be taxed at a rate
below 39.6 percent, over
``(II) the sum of the amounts on which a tax is
determined under subparagraphs (A) and (B),
``(D) 20 percent of the adjusted net capital gain (or, if
less, taxable income) in excess of the sum of the amounts on
which tax is determined under subparagraphs (B) and (C),''.
(2) Minimum tax.--Paragraph (3) of section 55(b) is amended by
striking subparagraph (C), by redesignating subparagraph (D) as
subparagraph (E), and by inserting after subparagraph (B) the
following new subparagraphs:
``(C) 15 percent of the lesser of--
``(i) so much of the adjusted net capital gain (or, if
less, taxable excess) as exceeds the amount on which tax is
determined under subparagraph (B), or
``(ii) the excess described in section 1(h)(1)(C)(ii),
plus
``(D) 20 percent of the adjusted net capital gain (or, if
less, taxable excess) in excess of the sum of the amounts on
which tax is determined under subparagraphs (B) and (C),
plus''.
(c) Conforming Amendments.--
(1) The following provisions are each amended by striking ``15
percent'' and inserting ``20 percent'':
(A) Section 531.
(B) Section 541.
(C) Section 1445(e)(1).
(D) The second sentence of section 7518(g)(6)(A).
(E) Section 53511(f)(2) of title 46, United States Code.
(2) Sections 1(h)(1)(B) and 55(b)(3)(B) are each amended by
striking ``5 percent (0 percent in the case of taxable years
beginning after 2007)'' and inserting ``0 percent''.
(3) Section 1445(e)(6) is amended by striking ``15 percent (20
percent in the case of taxable years beginning after December 31,
2010)'' and inserting ``20 percent''.
(d) Effective Dates.--
(1) In general.--Except as otherwise provided, the amendments
made by subsections (b) and (c) shall apply to taxable years
beginning after December 31, 2012.
(2) Withholding.--The amendments made by paragraphs (1)(C) and
(3) of subsection (c) shall apply to amounts paid on or after
January 1, 2013.

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(a) 5-year Extension of American Opportunity Tax Credit.--
(1) In general.--Section 25A(i) is amended by striking ``in
2009, 2010, 2011, or 2012'' and inserting ``after 2008 and before
2018''.
(2) Treatment of possessions.--Section 1004(c)(1) of division B
of the American Recovery and Reinvestment Tax Act of 2009 is
amended by striking ``in 2009, 2010, 2011, and 2012'' each place it
appears and inserting ``after 2008 and before 2018''.
(b) 5-year Extension of Child Tax Credit.--Section 24(d)(4) is
amended--
(1) by striking ``2009, 2010, 2011, and 2012'' in the heading
and inserting ``for certain years'', and
(2) by striking ``in 2009, 2010, 2011, or 2012'' and inserting
``after 2008 and before 2018''.
(c) 5-year Extension of Earned Income Tax Credit.--Section 32(b)(3)
is amended--
(1) by striking ``2009, 2010, 2011, and 2012'' in the heading
and inserting ``for certain years'', and
(2) by striking ``in 2009, 2010, 2011, or 2012'' and inserting
``after 2008 and before 2018''.
(d) Permanent Extension of Rule Disregarding Refunds in the
Administration of Federal Programs and Federally Assisted Programs.--
Section 6409 is amended to read as follows:
``SEC. 6409. REFUNDS DISREGARDED IN THE ADMINISTRATION OF FEDERAL
PROGRAMS AND FEDERALLY ASSISTED PROGRAMS.
``Notwithstanding any other provision of law, any refund (or
advance payment with respect to a refundable credit) made to any
individual under this title shall not be taken into account as income,
and shall not be taken into account as resources for a period of 12
months from receipt, for purposes of determining the eligibility of
such individual (or any other individual) for benefits or assistance
(or the amount or extent of benefits or assistance) under any Federal
program or under any State or local program financed in whole or in
part with Federal funds.''.
(e) Effective Dates.--
(1) In general.--Except as provided in paragraph (2), the
amendments made by this section shall apply to taxable years
beginning after December 31, 2012.
(2) Rule regarding disregard of refunds.--The amendment made by
subsection (d) shall apply to amounts received after December 31,
2012.

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(a) 2012 Exemption Amounts Made Permanent.--
(1) In general.--Paragraph (1) of section 55(d) is amended--
(A) by striking ``$45,000'' and all that follows through
``2011)'' in subparagraph (A) and inserting ``$78,750'',
(B) by striking ``$33,750'' and all that follows through
``2011)'' in subparagraph (B) and inserting ``$50,600'', and
(C) by striking ``paragraph (1)(A)'' in subparagraph (C)
and inserting ``subparagraph (A)''.
(b) Exemption Amounts Indexed for Inflation.--
(1) In general.--Subsection (d) of section 55 is amended by
adding at the end the following new paragraph:
``(4) Inflation adjustment.--
``(A) In general.--In the case of any taxable year
beginning in a calendar year after 2012, the amounts described
in subparagraph (B) shall each be increased by an amount equal
to--
``(i) such dollar amount, multiplied by
``(ii) the cost-of-living adjustment determined under
section 1(f)(3) for the calendar year in which the taxable
year begins, determined by substituting `calendar year
2011' for `calendar year 1992' in subparagraph (B) thereof.
``(B) Amounts described.--The amounts described in this
subparagraph are--
``(i) each of the dollar amounts contained in
subsection (b)(1)(A)(i),
``(ii) each of the dollar amounts contained in
paragraph (1), and
``(iii) each of the dollar amounts in subparagraphs (A)
and (B) of paragraph (3).
``(C) Rounding.--Any increase determined under subparagraph
(A) shall be rounded to the nearest multiple of $100.''.
(2) Conforming amendments.--
(A) Clause (iii) of section 55(b)(1)(A) is amended by
striking ``by substituting'' and all that follows through
``appears.'' and inserting ``by substituting 50 percent of the
dollar amount otherwise applicable under subclause (I) and
subclause (II) thereof.''.
(B) Paragraph (3) of section 55(d) is amended--
(i) by striking ``or (2)'' in subparagraph (A),
(ii) by striking ``and'' at the end of subparagraph
(B), and
(iii) by striking subparagraph (C) and inserting the
following new subparagraphs:
``(C) 50 percent of the dollar amount applicable under
subparagraph (A) in the case of a taxpayer described in
subparagraph (C) or (D) of paragraph (1), and
``(D) $150,000 in the case of a taxpayer described in
paragraph (2).''.
(c) Alternative Minimum Tax Relief for Nonrefundable Credits.--
(1) In general.--Subsection (a) of section 26 is amended to
read as follows:
``(a) Limitation Based on Amount of Tax.--The aggregate amount of
credits allowed by this subpart for the taxable year shall not exceed
the sum of--
``(1) the taxpayer's regular tax liability for the taxable year
reduced by the foreign tax credit allowable under section 27(a),
and
``(2) the tax imposed by section 55(a) for the taxable year.''.
(2) Conforming amendments.--
(A) Adoption credit.--
(i) Section 23(b) is amended by striking paragraph (4).
(ii) Section 23(c) is amended by striking paragraphs
(1) and (2) and inserting the following:
``(1) In general.--If the credit allowable under subsection (a)
for any taxable year exceeds the limitation imposed by section
26(a) for such taxable year reduced by the sum of the credits
allowable under this subpart (other than this section and sections
25D and 1400C), such excess shall be carried to the succeeding
taxable year and added to the credit allowable under subsection (a)
for such taxable year.''.
(iii) Section 23(c) is amended by redesignating
paragraph (3) as paragraph (2).
(B) Child tax credit.--
(i) Section 24(b) is amended by striking paragraph (3).
(ii) Section 24(d)(1) is amended--
(I) by striking ``section 26(a)(2) or subsection
(b)(3), as the case may be,'' each place it appears in
subparagraphs (A) and (B) and inserting ``section
26(a)'', and
(II) by striking ``section 26(a)(2) or subsection
(b)(3), as the case may be'' in the second last
sentence and inserting ``section 26(a)''.
(C) Credit for interest on certain home mortgages.--Section
25(e)(1)(C) is amended to read as follows:
``(C) Applicable tax limit.--For purposes of this
paragraph, the term `applicable tax limit' means the limitation
imposed by section 26(a) for the taxable year reduced by the
sum of the credits allowable under this subpart (other than
this section and sections 23, 25D, and 1400C).''.
(D) Hope and lifetime learning credits.--Section 25A(i) is
amended--
(i) by striking paragraph (5) and by redesignating
paragraphs (6) and (7) as paragraphs (5) and (6),
respectively, and
(ii) by striking ``section 26(a)(2) or paragraph (5),
as the case may be'' in paragraph (5), as redesignated by
clause (i), and inserting ``section 26(a)''.
(E) Savers' credit.--Section 25B is amended by striking
subsection (g).
(F) Residential energy efficient property.--Section 25D(c)
is amended to read as follows:
``(c) Carryforward of Unused Credit.--If the credit allowable under
subsection (a) exceeds the limitation imposed by section 26(a) for such
taxable year reduced by the sum of the credits allowable under this
subpart (other than this section), such excess shall be carried to the
succeeding taxable year and added to the credit allowable under
subsection (a) for such succeeding taxable year.''.
(G) Certain plug-in electric vehicles.--Section 30(c)(2) is
amended to read as follows:
``(2) Personal credit.--For purposes of this title, the credit
allowed under subsection (a) for any taxable year (determined after
application of paragraph (1)) shall be treated as a credit
allowable under subpart A for such taxable year.''.
(H) Alternative motor vehicle credit.--Section 30B(g)(2) is
amended to read as follows:
``(2) Personal credit.--For purposes of this title, the credit
allowed under subsection (a) for any taxable year (determined after
application of paragraph (1)) shall be treated as a credit
allowable under subpart A for such taxable year.''.
(I) New qualified plug-in electric vehicle credit.--Section
30D(c)(2) is amended to read as follows:
``(2) Personal credit.--For purposes of this title, the credit
allowed under subsection (a) for any taxable year (determined after
application of paragraph (1)) shall be treated as a credit
allowable under subpart A for such taxable year.''.
(J) Cross references.--Section 55(c)(3) is amended by
striking ``26(a), 30C(d)(2),'' and inserting ``30C(d)(2)''.
(K) Foreign tax credit.--Section 904 is amended by striking
subsection (i) and by redesignating subsections (j), (k), and
(l) as subsections (i), (j), and (k), respectively.
(L) First-time home buyer credit for the district of
columbia.--Section 1400C(d) is amended to read as follows:
``(d) Carryforward of Unused Credit.--If the credit allowable under
subsection (a) exceeds the limitation imposed by section 26(a) for such
taxable year reduced by the sum of the credits allowable under subpart
A of part IV of subchapter A (other than this section and section 25D),
such excess shall be carried to the succeeding taxable year and added
to the credit allowable under subsection (a) for such taxable year.''.
(d) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 2011.

5a524770bfeeab466fbc5d6d04492d8ebad38b4a6cc6f43e7bfef4ec23aec2b6

AND SECONDARY SCHOOL TEACHERS.
(a) In General.--Subparagraph (D) of section 62(a)(2) is amended by
striking ``or 2011'' and inserting ``2011, 2012, or 2013''.
(b) Effective Date.--The amendment made by this section shall apply
to taxable years beginning after December 31, 2011.

3e98c2cff54d74048e788a40d91c6f5f9179b78fabdb98688b715a701a295248

QUALIFIED PRINCIPAL RESIDENCE INDEBTEDNESS.
(a) In General.--Subparagraph (E) of section 108(a)(1) is amended
by striking ``January 1, 2013'' and inserting ``January 1, 2014''.
(b) Effective Date.--The amendment made by this section shall apply
to indebtedness discharged after December 31, 2012.

d390bc126860118a7d6c829faac7a0e24fd99cf0e7ff349e817bd24c0b478237

EMPLOYER-PROVIDED MASS TRANSIT AND PARKING BENEFITS.
(a) In General.--Paragraph (2) of section 132(f) is amended by
striking ``January 1, 2012'' and inserting ``January 1, 2014''.
(b) Effective Date.--The amendment made by this section shall apply
to months after December 31, 2011.

4fcf5d139a870696553c0aae57a9fc521d709d64486e012660b841c1dda0ce90

QUALIFIED RESIDENCE INTEREST.
(a) In General.--Subclause (I) of section 163(h)(3)(E)(iv) is
amended by striking ``December 31, 2011'' and inserting ``December 31,
2013''.
(b) Technical Amendments.--Clause (i) of section 163(h)(4)(E) is
amended--
(1) by striking ``Veterans Administration'' and inserting
``Department of Veterans Affairs'', and
(2) by striking ``Rural Housing Administration'' and inserting
``Rural Housing Service''.
(c) Effective Date.--The amendments made by this section shall
apply to amounts paid or accrued after December 31, 2011.

35fe5515c27ee22180ba8258e22f9d6768b5693ca864875979d25573e37b3318

TAXES.
(a) In General.--Subparagraph (I) of section 164(b)(5) is amended
by striking ``January 1, 2012'' and inserting ``January 1, 2014''.
(b) Effective Date.--The amendment made by this section shall apply
to taxable years beginning after December 31, 2011.

3f49cae86b4046b10da8d4ad36a4c35742cc93cdd2a300e82efa1aef879815a5

GAIN REAL PROPERTY MADE FOR CONSERVATION PURPOSES.
(a) In General.--Clause (vi) of section 170(b)(1)(E) is amended by
striking ``December 31, 2011'' and inserting ``December 31, 2013''.
(b) Contributions by Certain Corporate Farmers and Ranchers.--
Clause (iii) of section 170(b)(2)(B) is amended by striking ``December
31, 2011'' and inserting ``December 31, 2013''.
(c) Effective Date.--The amendments made by this section shall
apply to contributions made in taxable years beginning after December
31, 2011.

a280812c4139a90d7cd62647854839e51b5114ba87a0bd4fae61812c9fad75e5

TUITION AND RELATED EXPENSES.
(a) In General.--Subsection (e) of section 222 is amended by
striking ``December 31, 2011'' and inserting ``December 31, 2013''.
(b) Effective Date.--The amendment made by this section shall apply
to taxable years beginning after December 31, 2011.

30367c40b23b3117a1715c1b3eb4b8fa28e7af486a809e81db9713ba68327f21

RETIREMENT PLANS FOR CHARITABLE PURPOSES.
(a) In General.--Subparagraph (F) of section 408(d)(8) is amended
by striking ``December 31, 2011'' and inserting ``December 31, 2013''.
(b) Effective Date; Special Rule.--
(1) Effective date.--The amendment made by this section shall
apply to distributions made in taxable years beginning after
December 31, 2011.
(2) Special rules.--For purposes of subsections (a)(6), (b)(3),
and (d)(8) of section 408 of the Internal Revenue Code of 1986, at
the election of the taxpayer (at such time and in such manner as
prescribed by the Secretary of the Treasury)--
(A) any qualified charitable distribution made after
December 31, 2012, and before February 1, 2013, shall be deemed
to have been made on December 31, 2012, and
(B) any portion of a distribution from an individual
retirement account to the taxpayer after November 30, 2012, and
before January 1, 2013, may be treated as a qualified
charitable distribution to the extent that--
(i) such portion is transferred in cash after the
distribution to an organization described in section
408(d)(8)(B)(i) before February 1, 2013, and
(ii) such portion is part of a distribution that would
meet the requirements of section 408(d)(8) but for the fact
that the distribution was not transferred directly to an
organization described in section 408(d)(8)(B)(i).

4c41b07d215c52da4620f287638945339448d3ef87f2bfed7283e9982cf56d88

INTERNAL REVENUE SERVICE TO DISCLOSE CERTAIN RETURN AND RETURN
INFORMATION TO CERTAIN PRISON OFFICIALS.
(a) In General.--Paragraph (10) of section 6103(k) is amended to
read as follows:
``(10) Disclosure of certain returns and return information to
certain prison officials.--
``(A) In general.--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.
``(B) Disclosure to contractor-run prisons.--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.
``(C) Restrictions on use of disclosed information.--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.
``(D) Restrictions on redisclosure and disclosure to legal
representatives.--Notwithstanding subsection (h)--
``(i) Restrictions on redisclosure.--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.
``(ii) Disclosure to legal representatives.--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.''.
(b) Conforming Amendments.--
(1) Paragraph (3) of section 6103(a) is amended by inserting
``subsection (k)(10),'' after ``subsection (e)(1)(D)(iii),''.
(2) Paragraph (4) of section 6103(p) is amended--
(A) by inserting ``subsection (k)(10),'' before
``subsection (l)(10),'' in the matter preceding subparagraph
(A),
(B) in subparagraph (F)(i)--
(i) by inserting ``(k)(10),'' before ``or (l)(6),'',
and
(ii) by inserting ``subsection (k)(10) or'' before
``subsection (l)(10),'', and
(C) by inserting ``subsection (k)(10) or'' before
``subsection (l)(10),'' both places it appears in the matter
following subparagraph (F)(iii).
(3) Paragraph (2) of section 7213(a) is amended by inserting
``(k)(10),'' before ``(l)(6),''.
(c) Effective Date.--The amendments made by this section shall take
effect on the date of the enactment of this Act.

34b3e8ae972f56f410d2f2a8c6300991d25d3f7bc60dcca301b3bed5d014026b

(a) Extension.--
(1) In general.--Subparagraph (B) of section 41(h)(1) is
amended by striking ``December 31, 2011'' and inserting ``December
31, 2013''.
(2) Conforming amendment.--Subparagraph (D) of section
45C(b)(1) is amended by striking ``December 31, 2011'' and
inserting ``December 31, 2013''.
(b) Inclusion of Qualified Research Expenses and Gross Receipts of
an Acquired Person.--
(1) Partial inclusion of pre-acquisition qualified research
expenses and gross receipts.--Subparagraph (A) of section 41(f)(3)
is amended to read as follows:
``(A) Acquisitions.--
``(i) In general.--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 `acquired business') of another person
(hereinafter in this paragraph referred to as the
`predecessor'), 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).
``(ii) Amount determined with respect to qualified
research expenses.--The amount determined under this clause
is--
``(I) for purposes of applying this section for the
taxable year in which such acquisition is made, the
acquisition year amount, and
``(II) for purposes of applying this section for
any taxable year after the taxable year in which such
acquisition is made, the qualified research expenses
paid or incurred by the predecessor with respect to the
acquired business during the measurement period.
``(iii) Amount determined with respect to gross
receipts.--The amount determined under this clause is the
amount which would be determined under clause (ii) if `the
gross receipts of' were substituted for `the qualified
research expenses paid or incurred by' each place it
appears in clauses (ii) and (iv).
``(iv) Acquisition year amount.--For purposes of clause
(ii), the acquisition year amount is the amount equal to
the product of--
``(I) the qualified research expenses paid or
incurred by the predecessor with respect to the
acquired business during the measurement period, and
``(II) 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,
divided by the number of days in the acquiring person's
taxable year.
``(v) Special rules for coordinating taxable years.--In
the case of an acquiring person and a predecessor whose
taxable years do not begin on the same date--
``(I) each reference to a taxable year in clauses
(ii) and (iv) shall refer to the appropriate taxable
year of the acquiring person,
``(II) 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,
``(III) 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
``(IV) 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.
``(vi) Measurement period.--For purposes of this
subparagraph, the term `measurement period' means, with
respect to the taxable year of the acquiring person for
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.''.
(2) Expenses and gross receipts of a predecessor.--Subparagraph
(B) of section 41(f)(3) is amended to read as follows:
``(B) Dispositions.--If the predecessor 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, the amount of qualified research expenses paid or
incurred by, and the gross receipts of, the predecessor during
the measurement period (as defined in subparagraph (A)(vi),
determined by substituting `predecessor' for `acquiring person'
each place it appears) shall be reduced by--
``(i) in the case of the taxable year in which such
disposition is made, an amount equal to the product of--
``(I) the qualified research expenses paid or
incurred by, or gross receipts of, the predecessor with
respect to the acquired business during the measurement
period (as so defined and so determined), and
``(II) the number of days in the period beginning
on the date of acquisition (as determined for purposes
of subparagraph (A)(iv)(II)) and ending on the last day
of the taxable year of the predecessor in which the
disposition is made,
divided by the number of days in the taxable year of the
predecessor, and
``(ii) in the case of any taxable year ending after the
taxable year in which such disposition is made, the amount
described in clause (i)(I).''.
(c) Aggregation of Expenditures.--Paragraph (1) of section 41(f) is
amended--
(1) by striking ``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'' in subparagraph (A)(ii) and inserting ``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'',
and
(2) by striking ``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'' in subparagraph (B)(ii) and inserting ``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''.
(d) Effective Date.--
(1) Extension.--The amendments made by subsection (a) shall
apply to amounts paid or incurred after December 31, 2011.
(2) Modifications.--The amendments made by subsections (b) and
(c) shall apply to taxable years beginning after December 31, 2011.

3ee52b5d25934ddf164feec716c7b435028716fe6400c21bb6efe6c54588991a

FOR NON-FEDERALLY SUBSIDIZED NEW BUILDINGS.
(a) In General.--Subparagraph (A) of section 42(b)(2) is amended by
striking ``and before December 31, 2013'' and inserting ``with respect
to housing credit dollar amount allocations made before January 1,
2014''.
(b) Effective Date.--The amendment made by this section shall take
effect on the date of the enactment of this Act.

216e0bb3fe2f16d2d0e0a68d4d6bbb7f26905b195396042a344c14ed355b0b30

AREA MEDIAN GROSS INCOME FOR QUALIFIED RESIDENTIAL RENTAL PROJECT
EXEMPT FACILITY BONDS.
(a) In General.--Subsection (b) of section 3005 of the Housing
Assistance Tax Act of 2008 is amended by striking ``January 1, 2012''
each place it appears and inserting ``January 1, 2014''.
(b) Effective Date.--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.

cc052d056a009f86fc286c61db413f0055ea9bfed35037466cb6addc9b2d436b

(a) In General.--Subsection (f) of section 45A is amended by
striking ``December 31, 2011'' and inserting ``December 31, 2013''.
(b) Effective Date.--The amendment made by this section shall apply
to taxable years beginning after December 31, 2011.

fc655823124cffc100dfe85b146690eb1907299cb9a6e492a8256516b2966ac7

(a) In General.--Subparagraph (G) of section 45D(f)(1) is amended
by striking ``2010 and 2011'' and inserting ``2010, 2011, 2012, and
2013''.
(b) Carryover of Unused Limitation.--Paragraph (3) of section
45D(f) is amended by striking ``2016'' and inserting ``2018''.
(c) Effective Date.--The amendments made by this section shall
apply to calendar years beginning after December 31, 2011.

1e7c4f8d832ab1eeac0286ef8a6e108c44a0a8a6d3681077b77724e88ce7c369

(a) In General.--Subsection (f) of section 45G is amended by
striking ``January 1, 2012'' and inserting ``January 1, 2014''.
(b) Effective Date.--The amendment made by this section shall apply
to expenditures paid or incurred in taxable years beginning after
December 31, 2011.

4b6c5e2b2bb810e5f77ffb9bb214bcf2e97aec9fd6005065261ba1dc17df5539

(a) In General.--Subsection (e) of section 45N is amended by
striking ``December 31, 2011'' and inserting ``December 31, 2013''.
(b) Effective Date.--The amendment made by this section shall apply
to taxable years beginning after December 31, 2011.

e402b2f779bf39398a692370a12ecc4284667cf2dbc699b9fda824548997bc4a

ACTIVE DUTY MEMBERS OF THE UNIFORMED SERVICES.
(a) In General.--Subsection (f) of section 45P is amended by
striking ``December 31, 2011'' and inserting ``December 31, 2013''.
(b) Effective Date.--The amendment made by this section shall apply
to payments made after December 31, 2011.

4365bf56856f1110957290f6b2185f65d1de1380c919f474c625871af86e4020

(a) In General.--Subparagraph (B) of section 51(c)(4) is amended by
striking ``after'' and all that follows and inserting ``after December
31, 2013''.
(b) Effective Date.--The amendment made by this section shall apply
to individuals who begin work for the employer after December 31, 2011.

50bea1b573c0501c3f00a504b84be537777a18f87673ca1343f7e24bc19d309e

(a) In General.--Paragraph (1) of section 54E(c) is amended by
inserting ``, 2012, and 2013'' after ``for 2011''.
(b) Effective Date.--The amendments made by this section shall
apply to obligations issued after December 31, 2011.

b08b565b543d7e4a3379e63c3f74b9acaa0fd81d2fc36cab53848c7202cce962

QUALIFIED LEASEHOLD IMPROVEMENTS, QUALIFIED RESTAURANT BUILDINGS
AND IMPROVEMENTS, AND QUALIFIED RETAIL IMPROVEMENTS.
(a) In General.--Clauses (iv), (v), and (ix) of section
168(e)(3)(E) are each amended by striking ``January 1, 2012'' and
inserting ``January 1, 2014''.
(b) Effective Date.--The amendments made by this section shall
apply to property placed in service after December 31, 2011.

51b2ff7c2e4541d6372dcedfaf46c186acf59ce7c05ebc3118aad599859fe691

ENTERTAINMENT COMPLEXES.
(a) In General.--Subparagraph (D) of section 168(i)(15) is amended
by striking ``December 31, 2011'' and inserting ``December 31, 2013''.
(b) Effective Date.--The amendment made by this section shall apply
to property placed in service after December 31, 2011.

f216a100b8420e971e722c0a870d894556938e9ed00daf5724fdc77b6c84e694

PROPERTY ON AN INDIAN RESERVATION.
(a) In General.--Paragraph (8) of section 168(j) is amended by
striking ``December 31, 2011'' and inserting ``December 31, 2013''.
(b) Effective Date.--The amendment made by this section shall apply
to property placed in service after December 31, 2011.

0d04a2d16cf08f584bb8f22c61245adaa5a850f5bcc32ef5becb04d2f7248fec

CONTRIBUTIONS OF FOOD INVENTORY.
(a) In General.--Clause (iv) of section 170(e)(3)(C) is amended by
striking ``December 31, 2011'' and inserting ``December 31, 2013''.
(b) Effective Date.--The amendment made by this section shall apply
to contributions made after December 31, 2011.

f5f662d8251ce14318da1b89904583d8d5bf0cee2f472b29c2e8fddca95163c3

TREATMENT OF CERTAIN REAL PROPERTY AS SECTION 179 PROPERTY.
(a) In General.--
(1) Dollar limitation.--Section 179(b)(1) is amended--
(A) by striking ``2010 or 2011,'' in subparagraph (B) and
inserting ``2010, 2011, 2012, or 2013, and'',
(B) by striking subparagraph (C),
(C) by redesignating subparagraph (D) as subparagraph (C),
and
(D) in subparagraph (C), as so redesignated, by striking
``2012'' and inserting ``2013''.
(2) Reduction in limitation.--Section 179(b)(2) is amended--
(A) by striking ``2010 or 2011,'' in subparagraph (B) and
inserting ``2010, 2011, 2012, or 2013, and'',
(B) by striking subparagraph (C),
(C) by redesignating subparagraph (D) as subparagraph (C),
and
(D) in subparagraph (C), as so redesignated, by striking
``2012'' and inserting ``2013''.
(3) Conforming amendment.--Subsection (b) of section 179 is
amended by striking paragraph (6).
(b) Computer Software.--Section 179(d)(1)(A)(ii) is amended by
striking ``2013'' and inserting ``2014''.
(c) Election.--Section 179(c)(2) is amended by striking ``2013''
and inserting ``2014''.
(d) Special Rules for Treatment of Qualified Real Property.--
(1) In general.--Section 179(f)(1) is amended by striking
``2010 or 2011'' and inserting ``2010, 2011, 2012, or 2013''.
(2) Carryover limitation.--
(A) In general.--Section 179(f)(4) is amended by striking
``2011'' each place it appears and inserting ``2013''.
(B) Conforming amendment.--Subparagraph (C) of section
179(f)(4) is amended--
(i) in the heading, by striking ``2010'' and inserting
``2010, 2011 and 2012'', and
(ii) by adding at the end the following: ``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.''.
(e) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 2011.

58b12fde9a8479259426b0d23756e398876d9257b6f6d8e60f2b09284293d298

(a) In General.--Subsection (g) of section 179E is amended by
striking ``December 31, 2011'' and inserting ``December 31, 2013''.
(b) Effective Date.--The amendment made by this section shall apply
to property placed in service after December 31, 2011.

c9cd00c52bc07b1a07def7d2b5f87e01c03b3f48b60d72b2d0db42c168961aeb

TELEVISION PRODUCTIONS.
(a) In General.--Subsection (f) of section 181 is amended by
striking ``December 31, 2011'' and inserting ``December 31, 2013''.
(b) Effective Date.--The amendment made by this section shall apply
to productions commencing after December 31, 2011.

89694b4b03bb91085abca9f0e9324fcb020178bb50b8ad7057845f96f947d961

ATTRIBUTABLE TO DOMESTIC PRODUCTION ACTIVITIES IN PUERTO RICO.
(a) In General.--Subparagraph (C) of section 199(d)(8) is amended--
(1) by striking ``first 6 taxable years'' and inserting ``first
8 taxable years'', and
(2) by striking ``January 1, 2012'' and inserting ``January 1,
2014''.
(b) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 2011.

a0a3fac2d941a3f7982ea7dbac490bfa56f0811928c516898dc37bbd8cd64cf1

PAYMENTS TO CONTROLLING EXEMPT ORGANIZATIONS.
(a) In General.--Clause (iv) of section 512(b)(13)(E) is amended by
striking ``December 31, 2011'' and inserting ``December 31, 2013''.
(b) Effective Date.--The amendment made by this section shall apply
to payments received or accrued after December 31, 2011.

8177b96ce5a32e5312a9fd135608f6cc3b281468254ae5ad40c799888e3fedaf

INVESTMENT COMPANIES.
(a) In General.--Paragraphs (1)(C)(v) and (2)(C)(v) of section
871(k) are each amended by striking ``December 31, 2011'' and inserting
``December 31, 2013''.
(b) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 2011.

009506f5da536bc67705c403dc41bea34b7c8a2ee343fa87acb749d5533112af

UNDER FIRPTA.
(a) In General.--Clause (ii) of section 897(h)(4)(A) is amended by
striking ``December 31, 2011'' and inserting ``December 31, 2013''.
(b) Effective Date.--
(1) In general.--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.
(2) Amounts withheld on or before date of enactment.--In the
case of a regulated investment company--
(A) which makes a distribution after December 31, 2011, and
before the date of the enactment of this Act; and
(B) 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,
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.

29de72ea430d513061142ce38fc7c6eeb82bab4a38f5f05d0919aa7927ced791

INCOME.
(a) Exempt Insurance Income.--Paragraph (10) of section 953(e) is
amended--
(1) by striking ``January 1, 2012'' and inserting ``January 1,
2014'', and
(2) by striking ``December 31, 2011'' and inserting ``December
31, 2013''.
(b) Special Rule for Income Derived in the Active Conduct of
Banking, Financing, or Similar Businesses.--Paragraph (9) of section
954(h) is amended by striking ``January 1, 2012'' and inserting
``January 1, 2014''.
(c) Effective Date.--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.

556d6f08638f1fac656120c19b73f4755ec953ce874e6bd2d13f584842373710

RELATED CONTROLLED FOREIGN CORPORATIONS UNDER FOREIGN PERSONAL
HOLDING COMPANY RULES.
(a) In General.--Subparagraph (C) of section 954(c)(6) is amended
by striking ``January 1, 2012'' and inserting ``January 1, 2014''.
(b) Effective Date.--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.

da7818ddd7bd7c68ca36230e0cd46476655e56c678bf3862b4c569adebcb0d21

ON CERTAIN SMALL BUSINESS STOCK.
(a) In General.--Paragraph (4) of section 1202(a) is amended--
(1) by striking ``January 1, 2012'' and inserting ``January 1,
2014'', and
(2) by striking ``and 2011'' and inserting ``, 2011, 2012, and
2013'' in the heading thereof.
(b) Technical Amendments.--
(1) Special rule for 2009 and certain period in 2010.--
Paragraph (3) of section 1202(a) is amended by adding at the end
the following new flush sentence:
``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.''.
(2) 100 percent exclusion.--Paragraph (4) of section 1202(a) is
amended by adding at the end the following new flush sentence:
``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.''.
(c) Effective Dates.--
(1) In general.--The amendments made by subsection (a) shall
apply to stock acquired after December 31, 2011.
(2) Subsection (b)(1).--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.
(3) Subsection (b)(2).--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.

fba32d659286bd7689225e6932f09d759956f67e1958ee787ba000275f89af52

MAKING CHARITABLE CONTRIBUTIONS OF PROPERTY.
(a) In General.--Paragraph (2) of section 1367(a) is amended by
striking ``December 31, 2011'' and inserting ``December 31, 2013''.
(b) Effective Date.--The amendment made by this section shall apply
to contributions made in taxable years beginning after December 31,
2011.

f10162970c88ddb12b5e958335d46af1e8b9dc3a66a0feee3823da62da622bee

PERIOD FOR BUILT-IN GAINS TAX.
(a) In General.--Paragraph (7) of section 1374(d) is amended--
(1) by redesignating subparagraph (C) as subparagraph (D), and
(2) by inserting after subparagraph (B) the following new
subparagraph:
``(C) Special rule for 2012 and 2013.--For purposes of
determining the net recognized built-in gain for taxable years
beginning in 2012 or 2013, subparagraphs (A) and (D) shall be
applied by substituting `5-year' for `10-year'.'', and
(3) by adding at the end the following new subparagraph:
``(E) Installment sales.--If an S corporation sells an
asset and reports the income from the sale using the
installment method under section 453, the treatment of all
payments received shall be governed by the provisions of this
paragraph applicable to the taxable year in which such sale was
made.''.
(b) Technical Amendment.--Subparagraph (B) of section 1374(d)(2) is
amended by inserting ``described in subparagraph (A)'' after ``, for
any taxable year''.
(c) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 2011.

aae9a0a98563ee5727394fba52699fb7e1f82979fcd45f8dd95d1a08a0a62e0c

(a) In General.--Clause (i) of section 1391(d)(1)(A) is amended by
striking ``December 31, 2011'' and inserting ``December 31, 2013''.
(b) Increased Exclusion of Gain on Stock of Empowerment Zone
Businesses.--Subparagraph (C) of section 1202(a)(2) is amended--
(1) by striking ``December 31, 2016'' and inserting ``December
31, 2018''; and
(2) by striking ``2016'' in the heading and inserting ``2018''.
(c) Treatment of Certain Termination Dates Specified in
Nominations.--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.
(d) Effective Date.--The amendments made by this section shall
apply to periods after December 31, 2011.

d6b5678a5bfecae4533a023732467499623088a8217da7bdb3830443002ef75a

ZONE.
(a) In General.--Subparagraph (D) of section 1400L(d)(2) is amended
by striking ``January 1, 2012'' and inserting ``January 1, 2014''.
(b) Effective Date.--The amendment made by this section shall apply
to bonds issued after December 31, 2011.

88f5b5afcc1cd1a374e73af472f066a9f8d2b6d6f9704430fbe2725519d8040a

RUM EXCISE TAXES TO PUERTO RICO AND THE VIRGIN ISLANDS.
(a) In General.--Paragraph (1) of section 7652(f) is amended by
striking ``January 1, 2012'' and inserting ``January 1, 2014''.
(b) Effective Date.--The amendment made by this section shall apply
to distilled spirits brought into the United States after December 31,
2011.

084c4e1b520c2606e736cbed3a213b281bc1de8d49314317417b7baafb582708

DEVELOPMENT CREDIT.
(a) Modification.--
(1) In general.--Subsection (a) of section 119 of division A of
the Tax Relief and Health Care Act of 2006 is amended by striking
``if such corporation'' and all that follows and inserting ``if--
``(1) in the case of a taxable year beginning before January 1,
2012, such corporation--
``(A) is an existing credit claimant with respect to
American Samoa, and
``(B) elected the application of section 936 of the
Internal Revenue Code of 1986 for its last taxable year
beginning before January 1, 2006, and
``(2) in the case of a taxable year beginning after December
31, 2011, such corporation meets the requirements of subsection
(e).''.
(2) Requirements.--Section 119 of division A of such Act is
amended by adding at the end the following new subsection:
``(e) Qualified Production Activities Income Requirement.--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 `American Samoa' for `the United States'
each place it appears in paragraphs (3), (4), and (6) of such
subsection (c), for the taxable year.''.
(b) Extension.--Subsection (d) of section 119 of division A of the
Tax Relief and Health Care Act of 2006 is amended by striking ``shall
apply'' and all that follows and inserting ``shall apply--
``(1) 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
``(2) 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.''.
(c) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 2011.

052787b24236df01a377dcc662ccca4f38c7f20ad423c151a5f87e2660264182

(a) In General.--Paragraph (2) of section 168(k) is amended--
(1) by striking ``January 1, 2014'' in subparagraph (A)(iv) and
inserting ``January 1, 2015'', and
(2) by striking ``January 1, 2013'' each place it appears and
inserting ``January 1, 2014''.
(b) Special Rule for Federal Long-Term Contracts.--Clause (ii) of
section 460(c)(6)(B) is amended by inserting ``, or after December 31,
2012, and before January 1, 2014 (January 1, 2015, in the case of
property described in section 168(k)(2)(B))'' before the period.
(c) Extension of Election To Accelerate the AMT Credit in Lieu of
Bonus Depreciation.--
(1) In general.--Subclause (II) of section 168(k)(4)(D)(iii) is
amended by striking ``2013'' and inserting ``2014''.
(2) Round 3 extension property.--Paragraph (4) of section
168(k) is amended by adding at the end the following new
subparagraph:
``(J) Special rules for round 3 extension property.--
``(i) In general.--In the case of round 3 extension
property, this paragraph shall be applied without regard
to--
``(I) the limitation described in subparagraph
(B)(i) thereof, and
``(II) the business credit increase amount under
subparagraph (E)(iii) thereof.
``(ii) Taxpayers previously electing acceleration.--In
the case of a taxpayer who made the election under
subparagraph (A) for its first taxable year ending after
March 31, 2008, a taxpayer who made the election under
subparagraph (H)(ii) for its first taxable year ending
after December 31, 2008, or a taxpayer who made the
election under subparagraph (I)(iii) for its first taxable
year ending after December 31, 2010--
``(I) the taxpayer may elect not to have this
paragraph apply to round 3 extension property, but
``(II) if the taxpayer does not make the election
under subclause (I), in applying this paragraph to the
taxpayer the bonus depreciation amount, maximum amount,
and maximum increase amount shall be computed and
applied to eligible qualified property which is round 3
extension property.
The amounts described in subclause (II) shall be computed
separately from any amounts computed with respect to
eligible qualified property which is not round 3 extension
property.
``(iii) Taxpayers not previously electing
acceleration.--In the case of a taxpayer who neither made
the election under subparagraph (A) for its first taxable
year ending after March 31, 2008, nor made the election
under subparagraph (H)(ii) for its first taxable year
ending after December 31, 2008, nor made the election under
subparagraph (I)(iii) for any taxable year ending after
December 31, 2010--
``(I) the taxpayer may elect to have this paragraph
apply to its first taxable year ending after December
31, 2012, and each subsequent taxable year, and
``(II) if the taxpayer makes the election under
subclause (I), this paragraph shall only apply to
eligible qualified property which is round 3 extension
property.
``(iv) Round 3 extension property.--For purposes of
this subparagraph, the term `round 3 extension property'
means property which is eligible qualified property solely
by reason of the extension of the application of the
special allowance under paragraph (1) pursuant to the
amendments made by section 331(a) of the American Taxpayer
Relief Act of 2012 (and the application of such extension
to this paragraph pursuant to the amendment made by section
331(c)(1) of such Act).''.
(d) Normalization Rules Amendment.--Clause (ii) of section
168(i)(9)(A) is amended by inserting ``(respecting all elections made
by the taxpayer under this section)'' after ``such property''.
(e) Conforming Amendments.--
(1) The heading for subsection (k) of section 168 is amended by
striking ``January 1, 2013'' and inserting ``January 1, 2014''.
(2) The heading for clause (ii) of section 168(k)(2)(B) is
amended by striking ``pre-january 1, 2013'' and inserting ``pre-
january 1, 2014''.
(3) Subparagraph (C) of section 168(n)(2) is amended by
striking ``January 1, 2013'' and inserting ``January 1, 2014''.
(4) Subparagraph (D) of section 1400L(b)(2) is amended by
striking ``January 1, 2013'' and inserting ``January 1, 2014''.
(5) Subparagraph (B) of section 1400N(d)(3) is amended by
striking ``January 1, 2013'' and inserting ``January 1, 2014''.
(f) Effective Date.--The amendments made by this section shall
apply to property placed in service after December 31, 2012, in taxable
years ending after such date.

d97e3b33612f257e80b48becdbf850b55f35e2b0fc98512fa5ed9f93cdcb7f12

(a) In General.--Paragraph (2) of section 25C(g) is amended by
striking ``December 31, 2011'' and inserting ``December 31, 2013''.
(b) Effective Date.--The amendment made by this section shall apply
to property placed in service after December 31, 2011.

3157b5508e367901545426230a593df1c19f1f389d89232c129c3afc05e2f275

REFUELING PROPERTY.
(a) In General.--Paragraph (2) of section 30C(g) is amended by
striking ``December 31, 2011.'' and inserting ``December 31, 2013''.
(b) Effective Date.--The amendment made by this section shall apply
to property placed in service after December 31, 2011.

5217b6fd1dd8f201a686b8b7c287011e0851897d77c8fb03faf6cd81742242e8

VEHICLES.
(a) In General.--Section 30D is amended by adding at the end the
following new subsection:
``(g) Credit Allowed for 2- and 3-wheeled Plug-in Electric
Vehicles.--
``(1) In general.--In the case of a qualified 2- or 3-wheeled
plug-in electric vehicle--
``(A) 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
``(B) the amount of the credit allowed under subparagraph
(A) shall be treated as a credit allowed under subsection (a).
``(2) Applicable amount.--For purposes of paragraph (1), the
applicable amount is an amount equal to the lesser of--
``(A) 10 percent of the cost of the qualified 2- or 3-
wheeled plug-in electric vehicle, or
``(B) $2,500.
``(3) Qualified 2- or 3-wheeled plug-in electric vehicle.--The
term `qualified 2- or 3-wheeled plug-in electric vehicle' means any
vehicle which--
``(A) has 2 or 3 wheels,
``(B) meets the requirements of subparagraphs (A), (B),
(C), (E), and (F) of subsection (d)(1) (determined by
substituting `2.5 kilowatt hours' for `4 kilowatt hours' in
subparagraph (F)(i)),
``(C) is manufactured primarily for use on public streets,
roads, and highways,
``(D) is capable of achieving a speed of 45 miles per hour
or greater, and
``(E) is acquired after December 31, 2011, and before
January 1, 2014.''.
(b) Conforming Amendments.--
(1) No double benefit.--Paragraph (2) of section 30D(f) is
amended--
(A) by striking ``new qualified plug-in electric drive
motor vehicle'' and inserting ``vehicle for which a credit is
allowable under subsection (a)'', and
(B) by striking ``allowed under subsection (a)'' and
inserting ``allowed under such subsection''.
(2) Air quality and safety standards.--Section 30D(f)(7) is
amended by striking ``motor vehicle'' and inserting ``vehicle''.
(c) Effective Date.--The amendments made by this section shall
apply to vehicles acquired after December 31, 2011.

1a21ec2310440bd05e59e96292b71bd4e88b6d1f59d37139f4fda5084d3c1b11

CREDIT.
(a) Extension.--
(1) In general.--Subparagraph (H) of section 40(b)(6) is
amended to read as follows:
``(H) Application of paragraph.--
``(i) In general.--This paragraph shall apply with
respect to qualified cellulosic biofuel production after
December 31, 2008, and before January 1, 2014.
``(ii) No carryover to certain years after
expiration.--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.''.
(2) Conforming amendment.--Paragraph (2) of section 40(e) is
amended by striking ``or subsection (b)(6)(H)''.
(3) Effective date.--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.
(b) Algae Treated as a Qualified Feedstock.--
(1) In general.--Subclause (I) of section 40(b)(6)(E)(i) is
amended to read as follows:
``(I) is derived by, or from, qualified feedstocks,
and''.
(2) Qualified feedstock; special rules for algae.--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:
``(F) Qualified feedstock.--For purposes of this paragraph,
the term `qualified feedstock' means--
``(i) any lignocellulosic or hemicellulosic matter that
is available on a renewable or recurring basis, and
``(ii) any cultivated algae, cyanobacteria, or lemna.
``(G) Special rules for algae.--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)--
``(i) such sale shall be treated as described in
subparagraph (C)(i),
``(ii) 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
``(iii) 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.''.
(3) Conforming amendments.--
(A) Section 40, as amended by paragraph (2), is amended--
(i) by striking ``cellulosic biofuel'' each place it
appears in the text thereof and inserting ``second
generation biofuel'',
(ii) by striking ``Cellulosic'' in the headings of
subsections (b)(6), (b)(6)(E), and (d)(3)(D) and inserting
``Second generation'', and
(iii) by striking ``cellulosic'' in the headings of
subsections (b)(6)(C), (b)(6)(D), (b)(6)(H), (d)(6), and
(e)(3) and inserting ``second generation''.
(B) Clause (ii) of section 40(b)(6)(E) is amended by
striking ``Such term shall not'' and inserting ``The term
`second generation biofuel' shall not''.
(C) Paragraph (1) of section 4101(a) is amended by striking
``cellulosic biofuel'' and inserting ``second generation
biofuel''.
(4) Effective date.--The amendments made by this subsection
shall apply to fuels sold or used after the date of the enactment
of this Act.

9d8751ded6c3b9640d3a66e1b9acbe9993227adc6908ad4b8d14c6070a648bde

DIESEL.
(a) Credits for Biodiesel and Renewable Diesel Used as Fuel.--
Subsection (g) of section 40A is amended by striking ``December 31,
2011'' and inserting ``December 31, 2013''.
(b) Excise Tax Credits and Outlay Payments for Biodiesel and
Renewable Diesel Fuel Mixtures.--
(1) Paragraph (6) of section 6426(c) is amended by striking
``December 31, 2011'' and inserting ``December 31, 2013''.
(2) Subparagraph (B) of section 6427(e)(6) is amended by
striking ``December 31, 2011'' and inserting ``December 31, 2013''.
(c) Effective Date.--The amendments made by this section shall
apply to fuel sold or used after December 31, 2011.

b8091a6d2182d82e4cb19cb5cc7ec4bab54c29173cf7bec6d0fdbdbf97009e9f

"Fiscal cliff" bill — HR. 8

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