J

Provision Effective 2004 2005 2006 2007 2008 2009 2010 201

 The Chairman's Mark of S. 1637 

Provisions Relating to Repeal of Exclusion for Extraterritorial Income 

1. Repeal of exclusion for extraterritorial income [1] ................ toa DOE 3,710 4,780 5,093 5,312 5,508 5,727 5,993 6,252. Deduction relating to income attributable to United 

States production activities .................................................. tyea DOE -339 -835 -1,609 -3,510 -4,340 -4,947 -6,094 -6,30

Total of Provisions Relating to Repeal of Exclusion for Extraterritorial Income ................................................................................. 3,371 3,945 3,484 1,802 1,168 780 -101 -4General Transition for Repeal of Exclusion for toa DOE & Extraterritorial Income ...................................................... before 2007 -3,105 -3,234 -2,682 -765 --- --- --- -International Tax Provisions 

A. International Tax Reform 

1. Extend the foreign tax credit carryforward from 5 

years to 20 years .................................................................. [2] --- -266 -343 -412 -577 -767 -941 -1,08

2. Apply look-through rules for dividends from 

noncontrolled section 902 corporations ............................... tyba 12/31/02 -585 -77 -51 -23 -6 -1 [3] [

3. Repeal the 90% limitation on the use of foreign tax 

credits against the AMT ....................................................... tyba 12/31/04 --- -236 -355 -338 -334 -333 -334 -33

4. Recharacterize overall domestic loss .................................. lf tyba 12/31/06 --- --- --- -57 -680 -713 -756 -795. Interest expense allocation rules ......................................... tyba 12/31/09 --- --- --- --- --- --- -963 -2,586. Determination of foreign personal holding company 

income with respect to transactions in commodities ............ teia 12/31/04 --- -4 -10 -10 -10 -10 -11 -1

B. International Tax Simplification 

1. Repeal of rules applicable to foreign personal 

holding companies and foreign investment companies, personal holding company rules as they apply to foreign corporations, and include in subpart F personal service contract income, as defined under the foreign personal holding company rules .............. [4] --- -25 -65 -73 -81 -91 -102 -11

2. Expand the subpart F de minimis rule to the lesser 

of 5% of gross income or $5 million ..................................... [4] --- -15 -143 -157 -173 -190 -209 -23

3. Attribution of stock ownership through partnerships 

in determining section 902 and 960 credits ......................... tyba DOE [3] -1 -3 -3 -3 -3 -3 -

4. Limit application of uniform capitalization rules in the 

case of foreign persons ........................................................ tyba 12/31/04 --- -125 -278 -79 -27 -8 -12 -1

[Millions of Dollars] 

Fiscal Years 2004 - 2013 

ESTIMATED REVENUE EFFECTS OF MODIFICATIONS TO THE CHAIRMAN'S MARK OF S. 1637, 

THE "JUMPSTART OUR BUSINESS STRENGTH ('JOBS') ACT," 

SCHEDULED FOR MARKUP BY THE COMMITTEE ON FINANCE ON OCTOBER 1, 2003 
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Provision Effective 2004 2005 2006 2007 2008 2009 2010 201

5. Eliminate secondary withholding tax with respect to 

dividends paid by certain foreign corporations .................... pma 12/31/04 --- -2 -3 -3 -3 -3 -3 -

6. Eliminate 30% tax on certain U.S.-source capital 

gains of nonresident individuals ........................................... tyba 12/31/03 -1 -2 -2 -2 -3 -3 -3 -

Total of International Tax Provisions .................................................................. -586 -753 -1,253 -1,157 -1,897 -2,122 -3,337 -5,17Interaction........................................................................ --- 13 14 16 17 19 21 245 62Revenue Offset Provisions 

A. Provisions Designed to Curtail Tax Shelters 

1. Clarification of the economic substance doctrine 

and related penalty provisions ............................................. teia DOE 1,031 1,242 1,163 1,049 1,086 1,200 1,335 1,51

2. Provisions relating to reportable transactions and various dates 

tax shelters ........................................................................... after DOE [5] 92 115 119 120 124 131 139 15

3. Modification to the substantial understatement 

penalty .................................................................................. tyba DOE --- 4 11 19 23 26 30 3

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

report interest in foreign financial accounts ......................... DOE [6] [6] [6] [6] [6] [6] [6] [

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 .................................................... [7] 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 .......................................................................... [8] --- --- 1 1 1 1 1 

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 [9] ............... DOE Total of Provisions Designed to Curtail Tax Shelters ............................................. 1,126 1,364 1,298 1,193 1,240 1,365 1,512 1,70

B. Other Corporate Governance Provisions 

1. Affirmation of consolidated return regulation 

authority ................................................................................ [10] 

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 

other amounts ...................................................................... apoia 4/27/03 101 10 10 10 10 10 10 1

4. Denial of deduction for punitive damages ............................ dpoia DOE 38 29 30 31 32 33 34 35. Criminal tax fraud package .................................................. oco/a DOE --- --- [6] [6] [6] [6] [6] [

Total of Other Corporate Governance Provisions ................................................ 139 39 40 41 42 43 44 4

C. Enron-Related Tax Shelter Provisions 

1. Limitation on transfer or importation of built-in 

losses ................................................................................... ta 2/13/03 128 123 136 149 164 180 198 21

2. No reduction of basis under section 734 in stock 

held by partnership in corporate partner .............................. da 2/13/03 9 13 20 28 36 44 51 5

3. Repeal of special rules for FASITs ...................................... after 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

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

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

 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - No Revenue Effect - - - - 
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Provision Effective 2004 2005 2006 2007 2008 2009 2010 201

5. Expanded authority to disallow tax benefits under 

section 269 ........................................................................... aa 2/13/03 10 9 9 10 10 11 11 1

6. Modification of CFC-PFIC coordination rules ...................... [11] 23 15 8 4 5 6 8 1

Total of Enron-Related Tax Shelter Provisions ................................................... 176 248 263 285 311 339 369 39

D. Tax Treatment of Inversion Transactions ............................ [12] 172 137 140 168 202 242 290 34

E. Impose Mark-to-Market on Individuals who 

Expatriate ............................................................................. [13] 101 84 80 74 71 67 61 5

F. Other Revenue Provisions 

1. Effectively connected income to include certain 

foreign-source income .......................................................... tyba DOE 3 5 7 8 9 10 10 1

2. Recapture of overall foreign losses on sale of 

controlled foreign corporation stock ..................................... DOE [6] 3 7 8 9 9 9 1

3. Disallowance of partnership loss transfers .......................... ctada DOE 15 39 57 70 79 84 86 84. Treatment of stripped bonds to apply to stripped 

interests in bond and preferred stock funds ......................... padoa DOE 2 13 11 8 5 3 [6] [

5. Minimum holding period for foreign tax credit on 

withholding tax on income other than dividends .................. apoamt30da DOE [6] 3 3 3 3 4 4 

6. Modify treatment of transfers to creditors in divisive 

reorganizations ..................................................................... to/a DOE [6] 8 9 10 10 10 11 1

7. Extend present-law intangibles amortization 

provisions to acquisitions of sports franchises ..................... aoa DOE 13 61 94 68 36 23 21 1

8. Clarification of rules for payment of estimated tax for 

certain deemed asset sales ................................................. toa DOE 51 37 10 3 3 3 3 

9. Extension of IRS user fees (through 9/30/13) [9] ................. rma DOE 33 34 35 36 38 39 41 4

10. Double certain penalties, fines, and interest on 

underpayments related to certain offshore financial arrangements ....................................................................... oyo/a DOE 2 1 1 [14] [14] [14] [14] [1

11. Add vaccines against Hepatitis A to the list of 

taxable vaccines [15] ............................................................ [16] 6 9 9 9 9 9 9 

12. Exclusion of like-kind exchange property from 

nonrecognition treatment on the sale or exchange of a principal residence ............................................................ sopra DOE [6] 11 13 15 17 19 21 2

13. Authorize IRS to enter into installment agreements 

that provide for partial payment ............................................ iaeio/a DOE 40 14 5 [6] [6] [6] [6] [

14. Lease term to include certain service contracts ................... leia DOE 14 26 41 57 74 92 110 12

Total of Other Revenue Provisions .............................................................. 179 264 302 295 292 305 325 35

Total of Revenue Offset Provisions ..................................................................... 1,893 2,136 2,123 2,056 2,158 2,361 2,601 2,90

 Total of the Chairman's Mark of S. 1637 ..................................................................... 1,586 2,108 1,688 1,953 1,448 1,040 -592 -1,69 Additional Provisions to be Included in S. 1637

Other Provisions 

A. International Provisions 

1. Subpart F exception for active aircraft and vessel

leasing income...................................................................... [17] --- --- --- -46 -187 -237 -289 -33

2. Look-through treatment of payments between 

related CFCs under foreign personal holding company rules ...................................................................... [18] --- -72 -203 -219 -239 -245 -272 -29
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Provision Effective 2004 2005 2006 2007 2008 2009 2010 201

3. Look-through treatment under subpart F for sales of 

partnership interests ............................................................. [18] --- -39 -91 -96 -101 -106 -111 -11

4. Election not to use average exchange rate for 

foreign tax paid other than in functional currency ................ tyba 12/31/04

5. Revision of foreign tax credit basket rules with 

respect to "base differences" ............................................... tyea DOE -4 -14 -15 -17 -19 -21 -24 -2

6. Modification of exceptions under subpart F for active 

financing income................................................................... [18]

7. United States property not to include certain assets

of controlled foreign corporations.......................................... [18] --- -3 -20 -21 -22 -23 -24 -2

8. Provide equal treatment for interest paid by foreign 

partnerships and foreign corporations doing business in the U.S. ............................................................. tyba 12/31/03 -1 -2 -2 -2 -2 -2 -2 -

9. Foreign tax credit treatment of deemed payments 

under section 367(d) ............................................................ aro/a 8/5/97 -22 -4 -5 -5 -5 -5 -5 -

10. Modify FIRPTA rules for REITs ............................................ tyba DOE -3 -5 -7 -10 -12 -14 -15 -111. Temporary rate deduction for certain dividends

received from controlled foreign corporations ...................... [19] 2,713 146 -2,511 -1,376 -903 -599 -413 -32

12. Exclusion of certain horse-racing and dog-racing 

gambling winnings from the income of nonresident alien individuals .................................................................... wma DOE -1 -2 -3 -3 -3 -3 -3 -

13. Require Commerce Department report on adverse 

decisions of the World Trade Organization .......................... after DOE

14. Consultative role for the Committee on Finance in

connection with the review of proposed tax treaties ............ DOE

15. Study of impact of international tax law on taxpayers 

other than large corporations ............................................... after DOE

16. Modifications to Existing Provisions 

a. Accelerate effective date of 20-year foreign tax credit

carryforward period, and limit carrybacks to 1 year........... [20] -165 52 72 74 77 81 83 8

b. Clarification of 10-50 look-thru......................................... [4]c. Interest allocation rule effective in 2009 .......................... tyba 12/31/08 --- --- --- --- --- -908 -1,524 -Total of International Provisions ........................................................................ 2,517 57 -2,785 -1,721 -1,416 -2,082 -2,599 -1,06

B. Domestic Manufacturing and Business Provisions 

1. Modifications to qualified small issue bonds - 

increase capital expenditure limit from $10 to $20 million (maximum bond limit remains at $10 million) ........... bia DOE -3 -9 -16 -22 -29 -35 -42 -4

2. Expensing of investment in broadband equipment 

(sunset 12/31/04) ................................................................. ppisa 12/31/03 -157 -65 27 23 20 18 17 1

3. Change the definition of "production period" with 

regard to the natural aging process for distilled liquors for purposes of the capitalization rules under section 263A ......................................................................... ppba DOE -25 -50 -44 -32 -20 -7 -1 -

4. Section 355 "active business test" applied to chains

of affiliated corporations........................................................ generally da DOE -6 -7 -7 -7 -8 -8 -9 -

5. Exclusion of certain indebtedness of small business

investment companies from acquisition indebtedness ........................................................................ [21] -1 -1 -1 -1 -1 -1 -1 -

6. Modified taxation of imported archery products.................... asbmpoia 12/31/03 -1 -1 -1 -1 -1 -1 -1 -7. Modify cooperative marketing to include valueadded processing involving animals .................................... tyba DOE -1 -3 -4 -5 -6 -7 -9 -1

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

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

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

 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - No Revenue Effect - - - -  - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - No Revenue Effect - - - - 
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Provision Effective 2004 2005 2006 2007 2008 2009 2010 201

8. Extend declaratory judgment relief to farm 

cooperatives ......................................................................... pfa DOE 

9. Repeal personal holding company tax (sunset after

2008)..................................................................................... tyba 12/31/03 -87 -164 -171 -174 -178 -81 --- -Total of Domestic Manufacturing and Business Provisions .................................... -281 -300 -217 -219 -223 -122 -46 -5

C. Manufacturing Relating to Films 

1. Special rules for certain film and television

production (sunset taxable years beginning after2008)..................................................................................... tyba DOE -112 -264 -348 -326 -231 -7 239 34

2. Inclusion of certain trademarks and coyprights as

qualified production property................................................. tyea DOE -1 -3 -7 -14 -18 -21 -28 -3Total of Manufacturing Relating to Films ....................................................... -113 -267 -355 -340 -249 -28 211 31

D. Manufacturing Relating to Timber

1. Deduction of the first $10,000 of qualified

reforestation costs................................................................. epoia DOE -21 -51 -39 -27 -14 -2 3 

2. Election to treat cutting of timber as sale or

exchange............................................................................... DOE -1 -2 -4 -8 -11 -12 -16 -1

3. Permit capital gain treatment for outright sales of

timber by landowner.............................................................. sota DOE 

4. Modified safe-harbor rules for timber REITs ........................ tyba DOE [22] [22] -1 -1 -2 -3 -3 -5. Modification of application of the income forecast 

method of accounting ........................................................... ppisa DOE -157 -132 -86 -43 -27 -23 -25 -2Total of Manufacturing Relating to Timber ......................................................... -179 -185 -130 -79 -54 -40 -41 -4

E. Modifications to Existing Manufacturing Deduction

1. Extend manufacturer deduction to softwood timber ............ tyea DOE -4 -9 -17 -37 -46 -52 -64 -62. Extend manufacturer deduction to partnerships and

sole proprietors (include anti-abuse rules including50% of wages cap) ............................................................... tyea DOE -15 -107 -285 -545 -748 -968 -1,103 -1,07

3. Phaseout the domestic/foreign haircut beginning in

2010 ...................................................................................... tyea DOE --- --- --- --- --- --- -529 -1,55

4. Extend manufacturer deduction to oil refining...................... tyea DOE -18 -49 -98 -209 -263 -305 -399 -46

Total of Modifications to Existing Manufacturing Deduction .................................... -37 -165 -400 -791 -1,057 -1,325 -2,095 -3,15

Total of Other Provisions .................................................................................... 1,907 -860 -3,887 -3,150 -2,999 -3,597 -4,570 -3,99Additional Revenue Offsets 

A. International Provisions 

1. Clarification of banking business for determining 

investment of earnings in U.S. property ............................... DOE --- 9 17 17 18 19 20 2

2. Prohibition on nonrecognition of gain through

complete liquidation of holding company.............................. doo/a DOE [6] 13 15 17 19 21 23 2

3. Prevent mismatching of deductions and income 

inclusions in transactions with related foreign persons ................................................................................. pao/a DOE 12 41 84 79 33 35 37 3

4. Apply earnings-stripping rules to partnerships and S

corporations........................................................................... tybo/a DOE 3 18 21 22 25 27 29 3

5. Excise tax on stock compensation of insiders in 

inverted corporations ............................................................ generally 7/11/02 15 10 10 10 10 10 10 1

6. Reinsurance agreements ..................................................... rra 4/11/02 [6] [6] [6] [6] [6] [6] [6] [7. Reporting of taxable mergers and acquisitions .................... aa DOE 1 2 3 3 3 3 3 

Total of International Provisions ........................................................................ 31 93 150 148 108 115 122 12

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

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Revenue Effects Included in Line Ab
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Provision Effective 2004 2005 2006 2007 2008 2009 2010 201

B. Corporate and Financial Products

1. Modify qualification rules for tax-exempt property

and casualty insurance companies....................................... tyba 12/31/03 49 107 120 126 131 137 142 14

2. Recognize cancellation of indebtedness income

realized on satisfaction of debt with partnershipinterest [23]............................................................................ coio/a DOE 3 4 4 4 4 5 5 

3. Modification of the straddle rules.......................................... peo/a DOE 5 17 19 21 24 26 28 24. Clarify definition of nonqualified preferred stock .................. ta 5/14/03 [6] 5 8 8 8 8 8 

Total of Corporate and Financial Products ......................................................... 57 133 151 159 167 176 183 19

C. Other Revenue Offsets

1. Definition of controlled group of corporations ...................... tyba DOE 3 6 5 4 3 2 2 2. Provide that deductions for charitable contributions 

of patents or similar property may not exceed the donor's basis; provide that donor may receive a right to certain payments by the donee ................................ cma 10/1/03 236 356 366 377 389 400 412 42

3. Extension of Customs User Fees 

a. Extend passenger and conveyance processing 

fee through 9/30/13 [9] ...................................................... DOE 273 377 396 416 437 459 482 50

b. Extend merchandise processing fee through 

9/30/13 [9] ......................................................................... DOE 992 1,042 1,094 1,149 1,206 1,266 1,330 1,39

4. Deposits to stop the running of interest on potential 

underpayments ..................................................................... dma DOE 157 -5 -6 -6 -6 -6 -7 -

5. Establish specific class lives for utility grading costs ........... cia DOE 3 14 34 56 73 86 96 106. Repeal the 10% rehabilitation credit for non-historic 

buildings ............................................................................... eii tyba 12/31/03 54 74 79 89 97 106 116 12

7. Expansion of depreciation limits on certain

passenger automobiles ........................................................ ppisa DOE 43 75 76 38 -46 -102 -57 -2

8. Increase age limit for section 1(g)......................................... tyba 12/31/03 34 88 97 109 117 120 123 139. Provide consistent amortization periods for 

intangibles ............................................................................ [24] -112 214 442 518 552 443 398 34

10. Deny installment sale treatment for all readily

tradable debt......................................................................... soo/a DOE 13 51 57 8 11 12 13 1

11. Limitation of tax benefits for lessors to certain taxexempt entities...................................................................... leia DOE 8 16 25 34 44 55 66 712. Mandatory basis adjustment of partnership 

property in the case of property transfer or distributions except for transfers by reason of death ..................................................................................... ctada DOE --- 1 2 3 4 4 5 Total of Other Revenue Offsets ........................................................................ 1,704 2,309 2,667 2,795 2,881 2,845 2,979 3,10

Total of Additional Revenue Offsets ..................................................................... 1,792 2,535 2,968 3,102 3,156 3,136 3,284 3,42Reserve for Possible Interaction Effects and Other Adjustments ........................... --- --- --- --- --- --- --- -

 Total of Additional Provisions to be Included in S. 1637 ............................................. 3,699 1,675 -919 -48 157 -461 -1,286 -57 NET TOTAL ............................................................................................................ 5,285 3,783 769 1,905 1,605 579 -1,878 -2,26

Joint Committee on Taxation 

-------------------------------------- NOTE: Details may not add to totals due to rounding. [Legend and Footnotes for JCX-86-03 appear on the following page]
Page 7

Legend and Footnotes for JCX-86-03: Legend for "Effective" column: 

aa = acquisitions after DOE = date of enactment ppba = 

aoa = acquisitions occurring after doo/a = distributions occurring on or after ppisa = apoamt30da = amounts paid or accrued more than 30 days after dpa = documents prepared after rfa = reapoia = amounts paid or incurred after dpoia = damages paid or incurred after rma = raro/a = amounts received on or after eii = expenses incurred in rra = risasbmpoia = articles sold by the manufacturer, producer, epoia = expenditures paid or incurred after sota = s

 or importer after iaeio/a = installment agreements entered into on or after soo/a = ata = actions taken after leia = leases entered into after sopra = bia = bonds issued after lf = losses for ta = tracia = costs incurred after oco/a = offenses committed on or after teia = trcma = contributions made after oyo/a = open years on or after toa = trcoio/a = cancellations of indebtedness on or after padoa = purchases and dispositions occurring after to/a = t

ctada = contributions, transfers, and distributions after pao/a = payments accrued on or after tyba = tda = distributions after peo/a = positions established on or after tybo/a = diia = debt instrument issued after pfa = pleadings filed after tyea = tdma = deposits made after pma = payments made after wma = 

[1] Includes estimate for binding contract relief. [2] Effective for excess foreign taxes that may be carried forward to any taxable year beginning after December 31, 2004. [3] Loss of less than $1 million. [4] Effective for taxable years of foreign corporations beginning after December 31, 2004, and taxable years of U.S. persons owning stock of such corporations with or wi

corporations' taxable years end. 

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

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 th

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 disc

applies 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 applie

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 

after the date of enactment. 

[6] Gain of less than $1 million. [7] Effective for submissions made and issues raised after the first list is prescribed under section 6702(c). 

[8] Effective for taxable years with respect to which the period for assessing deficiencies did not expire before October 1, 2003. [9] Estimate provided by the Congressional Budget Office. 

[10] Effective for all taxable years, whether beginning before, with, or after the date of enactment. 

[11] Effective for taxable years of controlled foreign corporations beginning after February 13, 2003, and to taxable years of U.S. shareholders in which or with which such 

of controlled corporations end. 

[12] Effective for certain transactions completed after March 20, 2002, and would also affect certain taxpayers who completed transactions before March 21, 2002. 

[13] Generally effective for U.S. citizens who expatriate or long-term residents who terminate their residency on or after February 5, 2003. [14] Gain of less than $500,000. [15] Estimate contains outlay effects that will be provided by the Congressional Budget Office. 

[16] Effective for vaccines sold beginning on the first day of the first month beginning more than four weeks after the date of enactment. 

[17] Effective for taxable years of foreign corporations beginning after December 31, 2006, and taxable years of U.S. shareholders ending with or within such taxable year

[18] Effective for taxable years of foreign corporations beginning after December 31, 2004, and taxable years of U.S. shareholders ending with or within such taxable year

[19] Effective for the first taxable year of an electing taxpayer ending 120 days or more after the date of enactment. [20] Effective for credits that can be carried to taxable years ending after date of enactment. Revision of carryback period effective for credits arising in taxable years beg

[21] Effective for debt incurred by a small business investment company after December 31, 2003, with respect to property acquired after such date. [22] Loss of less than $500,000.[23] Estimate is preliminary and subject to change pursuant to the receipt of additional information.[24] Generally effective for start-up and organizational expenditures incurred after the date of enactment.