J

Provision Effective 2004 2005 2006 2007 2008 2009 2010 20

Extension of Certain Expiring Provisions

1. Treatment of nonrefundable personal credits under 

the individual alternative minimum tax (sunset 12/31/04) [1] ............................................................ tyba 12/31/03 -62 -249 --- --- --- --- --- 

2. Work opportunity tax credit (sunset 12/31/04) .................... wpoifibwa 12/31/03 -80 -125 -57 -24 -15 -8 -1 3. Welfare-to-work tax credit (sunset 12/31/04) ...................... wpoifibwa 12/31/03 -14 -36 -34 -17 -8 -4 -2 4. Above-the-line deduction for teacher classroom 

expenses capped at $250 annually (sunset 12/31/04) ........ tyba 12/31/03 -157 -52 --- --- --- --- --- 

5. Enhanced deduction for corporate contributions of 

computer equipment to public libraries and elementary and secondary schools(sunset 12/31/04) ................................................................. cma 12/31/03 -66 -56 --- --- --- --- --- 

6. Expensing of "Brownfields" environmental 

remediation costs (sunset 12/31/04) .................................... epoia 12/31/03 -159 -98 15 17 20 18 16 

7. 5-year carryback of net operating losses and waive 

the AMT 90% limitation on the allowance of losses (including losses carried forward into tax years ending in 2003) (sunset 12/31/03) ....................................... NOLs gi tyei 2003 -19,385 4,047 3,305 2,499 1,540 1,104 776 5

8. Archer medical savings accounts ("MSAs") 

(sunset 12/31/04) ................................................................. 1/1/04 [2] -2 -2 -2 -2 -2 -2 

9. Suspension of section 809 related to the 

reduction in policyholder dividends for mutual life insurance companies (sunset 12/31/04)............................... tyba 12/31/03 -14 -24 -10 [2] [2] --- --- 

10. Qualified zone academy bonds (sunset 12/31/04) .............. oia 12/31/03 [2] -2 -6 -11 -13 -13 -13 -11. Tax incentives for investment in the District of 

Columbia (sunset 12/31/04) ................................................. 1/1/04 -31 -37 -6 -2 -5 -26 -61 -

12. Expansion of Work Opportunity Tax Credit targeted

categories to include certain employees in New YorkCity - for employers with 200 or fewer employees addindividuals working in or relocated from the Liberty Zoneas a targeted group eligible for a modified WOTC (40%on first 6,000; allow against AMT) (sunset 12/31/04)........... wpoifwpa 12/31/03 -122 -129 -36 -13 -5 --- --- 

13. Disclosure relating to terrorist activities:

a. Disclosure of tax return information to inform 

officials of terrorist activities (sunset 12/31/04)................. 1/1/04

b. Disclosure upon request of information relating to 

terrorist activities (sunset 12/31/04)................................... 1/1/04

ESTIMATED REVENUE EFFECTS OF H.R. 3521, 

Fiscal Years 2004 - 2013 

[Millions of Dollars] 

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

THE "TAX RELIEF EXTENSION ACT OF 2003," 

AS PASSED BY THE HOUSE OF REPRESENTATIVES ON NOVEMBER 20, 2003 
Page 2

Provision Effective 2004 2005 2006 2007 2008 2009 2010 20

14. Increase in limit on cover over of rum excise tax

revenues (from $10.50 to $13.25 per proof gallon) toPuerto Rico and the Virgin Islands (sunset 12/31/04) [3]..... abiUSa 12/31/03 -62 -15 --- --- --- --- --- 

15. Parity in the application of certain limits to mental

health benefits (sunset 12/31/04) [4] .................................... bfsfa 12/31/03 -3 -9 --- --- --- --- --- 

16. Combined employment tax reporting demonstration 

project (sunset 12/31/04) .................................................... do/a DOE 

Total of Extension of Certain Expiring Provisions ...................................................-20,155 3,213 3,169 2,447 1,512 1,069 713 5Provisions Relating to Pensions 

1. Temporary replacement of interest rate used for

purposes of pension funding and PBGC variablerate premiums for 2004 and 2005 [5] ................................... pyba 12/31/03 2,719 3,636 -171 -1,464 -758 -1,006 -1,066 -6

2. Waive 80% of the additional funding requirement for

defined benefit plans of commercial passengerairlines (sunset for plan years beginning after 12/27/05) [5] ......................................................................... pyba 12/27/03 5 35 32 -36 -61 -39 -28 -

Total of Provisions Relating to Pensions ............................................................... 2,724 3,671 -139 -1,500 -819 -1,045 -1,094 -7Miscellaneous Trade Provisions [6] .................................... various -74 -93 -99 -38 -16 -16 -16 -

 NET TOTAL ............................................................................................................-17,505 6,791 2,931 909 677 8 -397 -2Joint Committee on Taxation -------------------------------------- NOTE: Details may not add to totals due to rounding. Legend for "Effective" column: 

abiUSa = articles brought into the United States after gi = generated in tyei = taxable ye

bfsfa = benefits for services furnished after NOLs = net operating losses wpoifibwa = wag

cma = contributions made after oia = obligations issued after beginning wodo/a = disclosures on or after pyba = plan years beginning after wpoifwpa = wag

DOE= date of enactment tyba = taxable years beginning after performed afepoia = expenditures paid or incurred after

[1] The "Economic Growth and Tax Relief Reconciliation Act of 2001" provides that the child tax credit and adoption tax credit are allowed for purposes of the alternative [2] Loss of less than $500,000. [3] Estimate provided by the Congressional Budget Office. [4] This provision will have a negligible effect on penalty excise tax receipts. However it will have an indirect effect on income tax receipts through increases in employer-

and corresponding decreases in cash wages. The table shows this indirect revenue effect, which was estimated by the Congressional Budget Office. 

[5] Estimate does not include the effects on PBGC variable rate premiums which will be provided by the Congressional Budget Office.[6] Estimate provided by the Congressional Budget Office. 

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