J

Provision Effective 2004 2005 2006 2007 2008 2009 2010 201

Trust Fund Reauthorization - Extension of HighwayTrust Fund and Aquatic Resources Trust FundTaxes (through 9/30/09) and Expenditure Authority(through 9/30/09) [1] ......................................................... DOEThe "Volumetric Ethanol Excise Tax Credit ('VEETC') Act"

A. Alcohol and Biodiesel Excise Tax Credit and

Extension of Alcohol Fuels Income Tax Credit

1. Provide excise tax credits for biodiesel used to

produce a qualified fuel mixture [2] ($1.00/gallon foragribiodiesel and $0.50/gallon for biodiesel) (sunset 12/31/06) [3] ........................................................... fsoua 9/30/04 --- -41 -57 -16 --- --- --- 

2. Provide excise tax credit (in lieu of reduced tax rate

on gasoline) to certain blenders of alcohol fuelmixtures (sunset 12/31/10) .................................................. fsoua 9/30/04

3. Provide that all gasoline excise tax revenues are

deposited in the Highway Trust Fund and all alcoholfuels excise tax credits are paid from the GeneralFund [4]................................................................................ fsoua 9/30/04 --- --- --- --- --- --- --- 1,13

4. Repeal reduced-rate sales of gasoline for blending

with alcohol and reduced-rate sales of alcohol fuelblends .................................................................................. fsoua 9/30/04 --- 23 25 24 24 24 24 2

5. Transfer full amount of alcohol fuel excise taxes to

the Highway Trust Fund ...................................................... fsoua 9/30/03 

6. Extension of section 40 alcohol fuels income tax

credit (sunset 12/31/10) ....................................................... DOE --- --- --- --- -6 -13 -15 -

7. Provide outlay payments (in lieu of excise tax

credits and refunds) to producers of alcohol andbiodiesel fuel mixtures and users of neat alcoholand neat biodiesel fuels: a. Outlay effects [5] [6] ........................................................ fsoua 9/30/04 --- -105 -114 -116 -117 -119 -121 -3b. Revenue effects.............................................................. fsoua 9/30/04 --- 105 114 116 117 119 121 3

8. Extension of temporary additional duty on ethyl

alcohol (sunset 1/1/11) [7] ................................................... DOE 

B. Biodiesel Income Tax Credit - provide income tax

credits for biodiesel fuel and biodiesel used to produce aqualified fuel mixture ($1.00/gallon for agribiodiesel and$0.50/gallon for biodiesel) (sunset 12/31/06) [3] ................. fpasoua 9/30/04

Total of The "Volumetric Ethanol Excise Tax Credit ('VEETC') Act" ................................................................................................... --- -18 -32 8 18 11 9 1,14

ESTIMATED REVENUE EFFECTS OF THE CHAIRMAN'S MODIFICATIONS TO 

Fiscal Years 2004 - 2013 

SCHEDULED FOR MARKUP BY THE COMMITTEE ON FINANCE ON FEBRUARY 2, 2004 

 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - No Revenue Effect - - - - - 

THE "HIGHWAY REAUTHORIZATION AND EXCISE TAX SIMPLIFICATION ACT OF 2004," 

[Millions of Dollars] 

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - No Revenue Effect - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - No Revenue Effect - - - - - 

 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Negligible Revenue Effect - - 

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Revenue Effects Included in Item #A
Page 2

Provision Effective 2004 2005 2006 2007 2008 2009 2010 201

Fuel Fraud Prevention Proposals 

A. Aviation Jet Fuel - taxation of aviation fuel at the

rack ........................................................................... [8] --- 397 427 431 434 437 437 43

B. Dyed Fuel Proposals

1. Elimination of manual dyeing of fuel..................................... [9] --- --- 43 46 47 47 47 42. Elimination of administrative review for taxable use paa DOE

of dyed fuel...........................................................................

3. Extension of penalty on untaxed chemically altered

fuel mixtures......................................................................... DOE

4. Terminate the use of dyed diesel fuel by intercity

buses.................................................................................... fsoua 9/30/04

C. Modification of Inspection of Records Proposals

1. Authority to inspect on-site records...................................... DOE2. Assessable penalty for refusal of entry................................. 10/1/04

D. Registration and Reporting Requirements

1. Registration of all pipeline or vessel operators

required for exemption of bulk transfers; penalty onknowing transfers to nonregistered person; Secretarymust publish list of registered persons [10].......................... 10/1/04 --- 116 124 125 126 127 128 12

2. Display of registration........................................................... 10/1/043. Certain reports filed electronically; penalty for failure

to report................................................................................ 10/1/04

4. Increased penalty for failure to register................................ pia 10/1/04 --- 2 2 2 2 2 2 5. Registration of persons within foreign trade zones.............. 10/1/046. Information reporting for persons claiming certain

tax benefits........................................................................... 10/1/04

E. Import Proposals

1. Tax at point of entry where importer not registered.............. DOE 2 8 8 8 8 8 8 2. Reconciliation of on-loaded cargo to entered cargo............. DOE

F. Miscellaneous Proposals

1. Tax on sale of diesel fuel whether suitable for use or

not in a diesel powered vehicle or train................................ DOE

2. Limit ultimate vendor refund claims on sales of fuel

used for farming purposes.................................................... fsfnua DOE

3. Permit ultimate vendors to administer credits and

refunds of fuel tax................................................................. 10/1/04

4. Two-party exchanges........................................................... DOE5. Modifications of tax on use of highway vehicles................... tpba DOE [11] 143 119 122 124 126 129 129 136. Dedication of revenue from certain penalties to the

Highway Trust Fund............................................................. 10/1/04

7. Nonapplication of export exemption to delivery of fuel to

motor vehicles removed from the United States.................. sodma DOE

G. Total Accountability - taxation and reporting for

blendstocks, transmix, and other products removedfrom terminals and refineries, including those inforeign trade zones............................................................... fsoua 9/30/04 --- 100 106 107 108 108 108 10

H. Transfers from Airport and Airway Trust Fund to

Highway Trust Fund............................................................. 10/1/04

Total of Fuel Fraud Prevention Proposals ............................................................ 145 742 832 843 851 858 859 85

 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Negligible Revenue Effect - - 

 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - No Revenue Effect - - - - - 

 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Negligible Revenue Effect - - 

 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Revenue Effects Included in Item D. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Revenue Effects Included in Item D.

 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Negligible Revenue Effect - -  - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Negligible Revenue Effect - -  - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Negligible Revenue Effect - -  - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Negligible Revenue Effect - - 

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - No Revenue Effect - - - - - 

 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Revenue Effects Included in Item D.

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - No Revenue Effect - - - - - 

 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Negligible Revenue Effect - -  - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Negligible Revenue Effect - - 

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - No Revenue Effect - - - - - 

 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Negligible Revenue Effect - -  - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Negligible Revenue Effect - - 
Page 3

Provision Effective 2004 2005 2006 2007 2008 2009 2010 201

Definition of Highway Vehicle

A. Exemption From Certain Excise Taxes for Mobile

Machinery Vehicles ............................................................. [12] --- 79 106 106 106 106 106 10

B. Modified Definition of Off-Highway Vehicle........................... [12]

Total of Definition of Highway Vehicle .................................................................. [13] 79 106 106 106 106 106 10Excise Tax Reform and Simplification Proposals 

A. Highway Excise Taxes

1. Repeal gas guzzler tax for limousines.................................. DOE -2 -4 -4 -4 -5 -5 -5 2. Dedication of gas guzzler tax to Highway Trust

Fund [14] ............................................................................. DOE

3. Repeal of 4.3-cent General Fund excise taxes on

railroads diesel fuel and inland waterway fuel:a. Railroads......................................................................... 10/1/04 --- -139 -146 -149 -154 -158 -162 -16b. Inland waterway............................................................... 10/1/04 --- -11 -15 -15 -16 -16 -17 -

B. Aquatic Excise Taxes

1. Eliminate Aquatic Resources Trust Fund and

transform Sport Fishing Restoration Account...................... 10/1/04

2. LED devices exempted from sonar devices suitable

for finding fish [15]................................................................ [16] --- [17] [17] [17] [17] [17] [17] 

3. Repeal of Harbor Maintenance tax on exports [7]................ bo/a DOE4. Cap on excise tax on certain fishing equipment [18]............ [16] --- -3 -3 -3 -3 -3 -4 5. Reduction in rate of tax on portable aerated bait

containers [19]...................................................................... 10/1/04 --- [17] [17] [17] [17] [17] [17] [1

C. Aerial Excise Taxes

1. Clarification of excise tax exemptions for agricultural

aerial applicators and exemption for certainfixed-wing aircraft................................................................. fuoata DOE -2 -4 -4 -4 -4 -4 -4 

2. Modification of rural airport definition.................................... 4/1/04 -2 -3 -3 -3 -4 -4 -4 3. Exemption from ticket taxes for transportation

provided by seaplanes.......................................................... ta 3/31/04 -1 -1 -1 -1 -1 -1 -1 

4. Certain sightseeing flights exempt from taxes on air

transportation....................................................................... [20] -5 -6 -7 -7 -7 -7 -8 

D. Alcoholic Beverage Excise Taxes

1. Repeal of occupational taxes relating to distilled

spirits, wine, and beer.......................................................... [21] -66 -78 -78 -78 -78 -78 -78 -7

2. Suspension of limitation on cover over of rum

excise tax revenues (maintain cover over at $13.25per proof gallon and increase to $13.50 on 10/1/04) (sunset 12/31/05); require transfer to Puerto Rico abiUSaConservation Trust Fund...................................................... 12/31/03 [22] -67 -93 -22 --- --- --- --- 

E. Sport Excise Taxes

1. Exempt custom gunsmiths from firearms excise 

tax [23].................................................................................. [24] [17] -1 -1 -1 -1 -1 -1 

2. Modified taxation of imported archery products [25]............. [26] [17] -1 -1 -1 -1 -1 -1 3. Treatment of tribal governments as States for

purposes of Federal wagering excise andoccupational taxes................................................................ [21] -1 -3 -3 -4 -4 -4 -4 

 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Negligible Revenue Effect - - 

 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - No Revenue Effect - - - - - 

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Negligible Revenue Effect - - - 

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - No Revenue Effect - - - - - 
Page 4

Provision Effective 2004 2005 2006 2007 2008 2009 2010 201

F. Other Proposals

1. Income tax credit for distilled sprits wholesalers and

for distilled spirits in control state bailmentwarehouses for costs of carrying Federal excisetaxes on bottled distilled spirits............................................. tyba DOE -4 -29 -33 -34 -35 -35 -35 -3

2. Credit for taxpayers owning commercial power

takeoff vehicles (sunset 12/31/06)........................................ tyba DOE --- -25 -40 -14 --- --- --- 

3. Credit for auxiliary power units installed on

diesel-powered trucks.......................................................... ppaia DOE -1 -1 -1 --- --- --- --- 

Total of Excise Tax Reform and Simplification Proposals ....................................... -151 -402 -362 -318 -313 -317 -324 -33Miscellaneous Proposals

A. Motor Fuel Tax Enforcement Advisory Commission............ DOEB. National Surface Transportation Infrastructure

Financing Commission......................................................... DOE

C. Treasury Study of Fuel Tax Compliance and

Interagency Cooperation...................................................... DOE

D. Funding for Studies of Supplemental or Alternative

Financing for the Highway Trust Fund ................................ DOE

E. Treasury Study of Highway Fuels Used by Trucks

for Non-transportation Purposes.......................................... DOE

F. Delta Regional Transportation Plan [27]............................... DOE

G. Increase exclusion for employer-provided transit

and vanpool benefits to $120 per month.............................. bra DOE -2 -9 -12 -12 -15 -17 -21 -2

Total of Miscellaneous Proposals ........................................................................ -2 -9 -12 -12 -15 -17 -21 -2Proposals to Replenish the General Fund

A. Expansion of Limitation on Depreciation of Certain

Passenger Automobiles ...................................................... ppisa 2/2/04 42 112 40 -52 -45 -43 -20 

B. Proposals Designed to Curtail Tax Shelters 

1. Clarification of the economic substance doctrine 

and related penalty Proposals ............................................. Ta 2/2/04 341 1,163 1,282 1,156 1,197 1,323 1,472 1,67

2. Proposals relating to reportable transactions and 

tax shelters .......................................................................... [28] 30 76 119 120 124 131 139 15

3. Modification to the substantial understatement 

penalty ................................................................................. tyba DOE --- --- 7 15 23 26 30 3

4. Impose a civil penalty (of up to $5,000) on failure to 

report interest in foreign financial accounts ......................... DOE [29] [29] [29] [29] [29] [29] [29] [2

5. Actions to enjoin conduct with respect to tax 

shelters ................................................................................ DOE 

6. Understatement of taxpayer's liability by income tax 

return preparer .................................................................... dpa DOE 

7. Frivolous tax submissions ................................................... [30] 3 3 3 3 3 3 3 8. Regulation of individuals practicing before the 

Department of Treasury ...................................................... ata DOE 

9. Extend statute of limitations for undisclosed listed 

transactions ......................................................................... [31] --- --- 1 1 1 1 1 

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - No Revenue Effect - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - No Revenue Effect - - - - - 

- - - - - - - - - - - - - - - - - - - - - - - - Estimate Will Be Provided by the Congressional 

 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - No Revenue Effect - - - - -  - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - No Revenue Effect - - - - -  - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - No Revenue Effect - - - - - 

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Negligible Revenue Effect - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Negligible Revenue Effect - - - 

 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - No Revenue Effect - - - - - 
Page 5

Provision Effective 2004 2005 2006 2007 2008 2009 2010 201

10. Deny deduction for interest paid to the IRS on 

underpayments involving certain tax motivated transactions ......................................................................... tyba DOE --- --- 1 1 3 4 4 

11. Authorize additional $300 million per year to the IRS 

to combat abusive tax avoidance transactions [32] ............ DOE 

C. Other Corporate Governance Proposals 

1. Affirmation of consolidated return regulation 

authority ............................................................................... [33] 

2. Chief executive officer required to sign declaration 

as part of corporate income tax return ................................ rfa DOE 

3. Denial of deduction for certain fines, penalties, and generally 

other amounts ..................................................................... apoia 4/27/03 176 10 10 10 10 10 10 

4. Denial of deduction for punitive damages ........................... dpoia DOE 10 29 30 31 32 33 34 35. Increase the maximum criminal fraud penalty for

individuals to the amount of the tax at issue........................ uaoataoa DOE --- --- [29] [29] [29] [29] [29] [2

6. Double certain penalties, fines, and interest on 

underpayments related to certain offshore financial arrangements ...................................................................... oyo/a DOE 2 1 1 [29] [29] [29] [29] [2

D. Enron-Related Tax Shelter Proposals 

1. Limitation on transfer or importation of built-in 

losses .................................................................................. Ta 2/13/03 128 123 136 149 164 180 198 2

2. No reduction of basis under section 734 in stock 

held by partnership in corporate partner ............................. da 2/13/03 12 16 24 29 33 35 33 3

3. Repeal of special rules for FASITs ...................................... on 2/13/03 4. Expanded disallowance of deduction for interest 

on convertible debt .............................................................. diia 2/13/03 6 88 90 94 96 98 101 10

5. Expanded authority to disallow tax benefits under 

section 269 .......................................................................... aa 2/13/03 3 9 10 10 11 11 12 

6. Modification of interaction between subpart F and

passive foreign investment company rules.......................... [34] 23 15 8 4 5 6 8 

E. Proposals to Discourage Expatriation

1. Tax treatment of inversion transactions .............................. [35] 172 137 140 168 202 242 290 342. Impose mark-to-market on individuals who 

expatriate ............................................................................. [36] 41 78 80 74 71 67 61 5

3. Excise tax on stock compensation of insiders in 

inverted corporations ........................................................... generally 7/11/02 16 7 7 7 7 7 7 

4. Reinsurance agreements .................................................... rra 4/11/02 [29] [29] [29] [29] [29] [29] [29] [2

F. Corporate Estimated Tax Payments Due July

Through September of 2009 Increased to 119% ofthe Otherwise Required Amount.......................................... DOE --- --- --- --- --- 11,441 -11,441 

Total of Proposals to Replenish the General Fund ................................................ 1,005 1,867 1,989 1,820 1,937 13,575 -9,058 2,69

 NET TOTAL ............................................................................................................ 997 2,259 2,521 2,447 2,584 14,216 -8,429 4,45Joint Committee on Taxation -------------------------------------- NOTE: Details may not add to totals due to rounding. [Legend and Footnotes for JCX-11-04 appear on the following page]

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Negligible Revenue Effect - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Negligible Revenue Effect - - - 

 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - No Revenue Effect - - - - - 

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Negligible Revenue Effect - - - 
Page 6

Legend and Footnotes for JCX-11-04: Legend for "Effective" column: 

aa = acquisitions after dpoia = damages paid or incurred after rfa = reabiUSa = articles brought into United States after fpasoua = fuel produced, and sold or used, after rra = risapoia = amounts paid or incurred after fsfnua = fuels sold for nontaxable use after ta = traas = articles sold fsoua = fuel sold or used after Ta = traata = actions taken after fuoata = fuel use or air transportation after tpba = tbo/a = before, on, and after oyo/a = open years on or after tyba = tbra = benefits received after paa = penalties assessed after tyba = tda = distributions after pia = penalties imposed after uaoataodiia = debt instrument issued after ppaia = property purchased and installed after attribDOE = date of enactment ppisa = property placed in service after 30da = dpa = documents prepared after sodma = sales or deliveries made after

[1] The outlay effects of this provision will be estimated by the Congressional Budget Office ("CBO"). Aquatic Resources Trust Fund is to be restructured and the name cha

Excise Tax Reform and Simplification Proposals, Item B.1. (Eliminate Aquatic Resources Trust Fund and transform Sport Fishing Restoration Account). 

[2] Tax credits would be provided for on-road and off-road uses of biodiesel. [3] This provision may also have indirect effects on Federal outlays for certain farm programs. Outlay effects will be estimated by the Congressional Budget Office. [4] These effects result from application of the budget law for constructing CBO's baseline in the case of expiring excise taxes dedicated to trust funds. Under present law, t

fuels dedicated to the Highway Trust Fund ("HTF") expire in 2005, and are assumed to be permanently extended in CBO's baseline, as required by budget law. The lowalcohol fuels, which reduce revenue to the HTF, expire in 2007 and are also assumed to be permanently extended in CBO's baseline. The proposal would replace the loalcohol fuels with an excise tax credit that does not reduce revenue to the HTF and that expires in 2010. If this bill is enacted, CBO's subsequent baseline would not assexcise tax credit beyond its expiration because the requirement to assume extension only applies to excise taxes dedicated to trust funds. For purposes of this cost estimassumes that the credit would expire as scheduled. This treatment generates changes in revenues and outlays beyond 2010. 

[5] Estimate provided by the Congressional Budget Office. Negative numbers indicate an increase in outlays. [6] The outlay payments for ethanol expire after December 31, 2010, and the outlay payments for biodiesel expire after December 31, 2006. [7] Estimate provided by the Congressional Budget Office.[8] Effective for aviation fuel removed, entered into the United States, or sold after September 30, 2004. [9] Generally effective 180 days after the date on which the Secretary issues the regulations, which are required on or before June 30, 2004. 

[10] Secretary must publish the list by June 30, 2004. [11] The display and electronic identification device provisions are effective October 1, 2005. [12] Generally effective after the date of enactment, except for fuel taxes, effective for taxable years beginning after the date of enactment.[13] Negligible revenue effect.[14] The gas guzzler tax, as amended, would generate between $71 million and $75 million per year in Federal tax receipts. [15] Provision will result in a reduction in outlays of approximately $4 million over 10 years from the Sport Fish Restoration Trust Fund, successor to the Aquatic Resources T[16] Effective for articles sold by the manufacturer, producer, or importer on and after October 1, 2004.[17] Loss of less than $500,000.[18] Provision will result in a reduction in outlays of approximately $52 million over 10 years from the Sport Fish Restoration Trust Fund, successor to the Aquatic Resources [19] Provision will result in a reduction in outlays of approximately $1 million over 10 years from the Sport Fish Restoration Trust Fund, successor to the Aquatic Resources T[20] Effective with respect to transportation beginning on or after the date of the enactment, but shall not apply to any amount paid before such date.[21] Effective on July 1, 2004, but shall not apply to taxes imposed for periods before such date.[22] The transfer to the Puerto Rico Conservation Trust Fund is effective October 1, 2004. [23] Provision will result in a reduction in outlays of approximately $7 million over 10 years from the Federal Wildlife Restoration Fund.[24] Effective for articles sold by the manufacturer, producer, or importer on or before the first day of the month beginning at least two weeks after the date of enactment.[25] Provision will result in a reduction in outlays of approximately $9 million over 10 years from the Federal Wildlife Restoration Fund.[26] Effective for articles sold by the manufacturer, producer, or importer after the date of the enactment. [27] The proposal has outlay effects which will be provided by the Congressional Budget Office.

[Footnotes for Table #04-2 016 R are continued on the following page]
Page 7

Footnotes for Table #04-2 016 R continued: 

[28] Effective dates for proposals relating to reportable transactions and tax shelters: the penalty for failure to disclose reportable transactions is effective for returns and sta

of which is after the date of enactment; the modification to the accuracy-related penalty for listed or reportable transactions is effective for taxable years ending after the the tax shelter exception to confidentiality privileges is effective for communications made on or after the date of enactment; the material advisor and investor list disclosapplies to transactions with respect to which material aid, assistance or advice is provided after the date of enactment; the failure to register tax shelter penalty applies to for which is after the date of enactment; the investor list penalty applies to requests made after the date of enactment; and the penalty on promoters of tax shelters is effafter the date of enactment. 

[29] Gain of less than $1 million. [30] Effective for submissions made and issues raised after the first list is prescribed under section 6702(c). [31] Effective for taxable years with respect to which the period for assessing deficiencies did not expire before October 1, 2003. [32] Estimate is subject to review by the Congressional Budget Office. [33] Effective for all taxable years, whether beginning before, on, or after the date of enactment. [34] Effective for taxable years of controlled foreign corporations beginning after February 13, 2003, and for taxable years of U.S. shareholders with or within which such taxa

foreign corporations end. 

[35] Effective for certain transactions completed after March 20, 2002, and would also affect certain taxpayers who completed transactions before March 21, 2002. [36] Generally effective for U.S. citizens who expatriate or long-term residents who terminate their residency on or after February 2, 2004.