II 

112TH CONGRESS 

2D SESSION S. 2050 

To amend the Internal Revenue Code of 1986 to extend certain provisions 

of the Creating Small Business Jobs Act of 2010, and for other purposes. 

IN THE SENATE OF THE UNITED STATES 

JANUARY 31, 2012 

Ms. SNOWE (for herself, Ms. LANDRIEU, and Mr. BROWN of Massachusetts) 

introduced the following bill; which was read twice and referred to the 

Committee on Finance 

A BILL 

To amend the Internal Revenue Code of 1986 to extend 

certain provisions of the Creating Small Business Jobs 

Act of 2010, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE; REFERENCES. 

4 (a) SHORT TITLE.—This Act may be cited as the 

5 ‘‘Small Business Tax Extenders Act of 2012’’. 

6 (b) REFERENCES.—Except as otherwise expressly 

7 provided, whenever in this Act an amendment or repeal 

8 is expressed in terms of an amendment to, or repeal of, 

9 a section or other provision, the reference shall be considVerDate Mar 15 2010 00:56 Feb 01, 2012 Jkt 019200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S2050.IS S2050

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1 ered to be made to a section or other provision of the In2 ternal Revenue Code of 1986. 

3 SEC. 2. EXTENSION OF TEMPORARY EXCLUSION OF 100 

4 PERCENT OF GAIN ON CERTAIN SMALL BUSI5 NESS STOCK. 

6 (a) IN GENERAL.—Paragraph (4) of section 1202(a) 

7 is amended— 

8 (1) by striking ‘‘January 1, 2012’’ and insert9 ing ‘‘January 1, 2013’’, and 

10 (2) by striking ‘‘AND 2011’’ and inserting ‘‘, 

11 2011, AND 2012’’ in the heading thereof. 

12 (b) EFFECTIVE DATE.—The amendments made by 

13 this section shall apply to stock acquired after December 

14 31, 2011. 

15 SEC. 3. EXTENSION OF 5-YEAR CARRYBACK OF GENERAL 

16 BUSINESS CREDITS OF ELIGIBLE SMALL 

17 BUSINESSES. 

18 (a) IN GENERAL.—Subparagraph (A) of section 

19 39(a)(4) is amended by inserting ‘‘, 2011, or 2012’’ after 

20 ‘‘2010’’. 

21 (b) EFFECTIVE DATE.—The amendment made by 

22 this section shall apply to credits determined in taxable 

23 years beginning after December 31, 2010. 


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1 SEC. 4. EXTENSION OF ALTERNATIVE MINIMUM TAX RULES 

2 FOR GENERAL BUSINESS CREDITS OF ELIGI3 BLE SMALL BUSINESSES. 

4 (a) IN GENERAL.—Subparagraph (A) of section 

5 38(c)(5) is amended by inserting ‘‘, 2011, or 2012’’ after 

6 ‘‘2010’’. 

7 (b) EFFECTIVE DATE.—The amendments made by 

8 this section shall apply to credits determined in taxable 

9 years beginning after December 31, 2010, and to 

10 carrybacks of such credits. 

11 SEC. 5. EXTENSION OF REDUCTION IN RECOGNITION PE12 RIOD FOR BUILT-IN GAINS TAX. 

13 (a) IN GENERAL.—Clause (ii) of section 

14 1374(d)(7)(B) of the Internal Revenue Code of 1986 is 

15 amended by inserting ‘‘2012, or 2013,’’ after ‘‘2011,’’. 

16 (b) CONFORMING AMENDMENT.—The heading for 

17 section 1374(d)(7)(B) is amended by striking ‘‘AND 2011’’ 

18 and inserting ‘‘2011, AND 2012’’. 

19 (c) TECHNICAL AMENDMENT.—Subparagraph (B) of 

20 section 1374(d)(7) of such Code is amended by striking 

21 ‘‘The preceding sentence’’ and inserting the following: 

22 ‘‘For purposes of applying this subparagraph to an install23 ment sale, each portion of such installment sale shall be 

24 treated as a sale occurring in the taxable year in which 

25 the first portion of such installment sale occurred. This 

26 subparagraph’’. 


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1 (d) EFFECTIVE DATE.—The amendments made by 

2 this section shall apply to taxable years beginning after 

3 December 31, 2011. 

4 SEC. 6. EXTENSION OF INCREASED EXPENSING LIMITA5 TIONS AND TREATMENT OF CERTAIN REAL 

6 PROPERTY AS SECTION 179 PROPERTY. 

7 (a) IN GENERAL.—Section 179(b) is amended— 

8 (1) by striking ‘‘2010 or 2011’’ each place it 

9 appears in paragraph (1)(B) and (2)(B) and insert10 ing ‘‘2010, 2011, or 2012’’, 

11 (2) by striking ‘‘2012’’ each place it appears in 

12 paragraph (1)(C) and (2)(C) and inserting ‘‘2013’’, 

13 and 

14 (3) by striking ‘‘2012’’ each place it appears in 

15 paragraph (1)(D) and (2)(D) and inserting ‘‘2013’’. 

16 (b) INFLATION ADJUSTMENT.—Subparagraph (A) of 

17 section 179(b)(6) is amended by striking ‘‘2012’’ and in18 serting ‘‘2013’’. 

19 (c) COMPUTER SOFTWARE.—Section 179(d)(1)(A)(ii) 

20 is amended by striking ‘‘2013’’ and inserting ‘‘2014’’. 

21 (d) ELECTION.—Section 179(c)(2) is amended by 

22 striking ‘‘2013’’ and inserting ‘‘2014’’. 

23 (e) SPECIAL RULES FOR TREATMENT OF QUALIFIED

24 REAL PROPERTY.—Section 179(f)(1) is amended by strik25 ing ‘‘2010 or 2011’’ and inserting ‘‘2010, 2011, or 2012’’. 


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1 (f) EFFECTIVE DATE.—The amendments made by 

2 this section shall apply to taxable years beginning after 

3 December 31, 2011. 

4 SEC. 7. EXTENSION OF SPECIAL RULE FOR LONG-TERM 

5 CONTRACT ACCOUNTING. 

6 (a) IN GENERAL.—Clause (ii) of section 460(c)(6)(B) 

7 is amended by striking ‘‘January 1, 2011 (January 1, 

8 2012’’ and inserting ‘‘January 1, 2013 (January 1, 

9 2014’’. 

10 (b) EFFECTIVE DATE.—The amendment made by 

11 this section shall apply to property placed in service after 

12 December 31, 2010. 

13 SEC. 8. EXTENSION OF INCREASED AMOUNT ALLOWED AS A 

14 DEDUCTION FOR START-UP EXPENDITURES. 

15 (a) IN GENERAL.—Paragraph (3) of section 195(b) 

16 is amended— 

17 (1) by inserting ‘‘, 2001, or 2012’’ after 

18 ‘‘2010’’, and 

19 (2) by inserting ‘‘2011, AND 2012’’ in the head20 ing thereof. 

21 (b) EFFECTIVE DATE.—The amendments made by 

22 this section shall apply to amounts paid or incurred in tax23 able years beginning after December 31, 2010. 


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1 SEC. 9. EXTENSION OF ALLOWANCE OF DEDUCTION FOR 

2 HEALTH INSURANCE IN COMPUTING SELF3 EMPLOYMENT TAXES. 

4 (a) IN GENERAL.—Paragraph (4) of section 162(l) 

5 is amended by striking ‘‘December 31, 2010’’ and insert6 ing ‘‘December 31, 2012’’. 

7 (b) EFFECTIVE DATE.—The amendment made by 

8 this section shall apply to taxable years beginning after 

9 December 31, 2010. 

Æ 


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