‘‘(A) IN GENERAL.—For purposes of this 
subsection, the term ‘long-term unused min-
imum tax credit’ means, with respect to any 
taxable year, the portion of the minimum tax 
credit determined under subsection (b) attrib-
utable to the adjusted net minimum tax for tax-
able years before the 3rd taxable year imme-
diately preceding such taxable year. 
‘‘(B) 
FIRST-IN, 
FIRST-OUT
ORDERING 
RULE.—For purposes of subparagraph (A), 
credits shall be treated as allowed under sub-
section (a) on a first-in, first-out basis. 
‘‘(4) CREDIT REFUNDABLE.—For purposes of 
this title (other than this section), the credit allowed 
by reason of this subsection shall be treated as if it 
were allowed under subpart C.’’. 
(b) CONFORMING AMENDMENTS.— 
(1) Section 6211(b)(4)(A) is amended by strik-
ing ‘‘and 34’’ and inserting ‘‘34, and 53(e)’’. 
(2) Paragraph (2) of section 1324(b) of title 
31, United States Code, is amended by inserting ‘‘or 
53(e)’’ after ‘‘section 35’’. 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
the date of the enactment of this Act. 
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SEC. 233. RETURNS REQUIRED IN CONNECTION WITH CER-
TAIN OPTIONS. 
(a) IN GENERAL.—So much of section 6039(a) as fol-
lows paragraph (2) is amended to read as follows: 
‘‘shall, for such calendar year, make a return at such time 
and in such manner, and setting forth such information, 
as the Secretary may by regulations prescribe.’’. 
(b) STATEMENTS TO PERSONS WITH RESPECT TO 
WHOM INFORMATION IS FURNISHED.—Section 6039 is 
amended by redesignating subsections (b) and (c) as sub-
section (c) and (d), respectively, and by inserting after 
subsection (a) the following new subsection: 
‘‘(b) STATEMENTS TO BE FURNISHED TO PERSONS 
WITH
RESPECT
TO
WHOM
INFORMATION
IS
RE-
PORTED.—Every corporation making a return under sub-
section (a) shall furnish to each person whose name is set 
forth in such return a written statement setting forth such 
information as the Secretary may by regulations prescribe. 
The written statement required under the preceding sen-
tence shall be furnished to such person on or before Janu-
ary 31 of the year following the calendar year for which 
the return under subsection (a) was made.’’. 
(c) CONFORMING AMENDMENTS.— 
(1) Section 6724(d)(1)(B) is amended by strik-
ing ‘‘or’’ at the end of clause (xvii), by striking 
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‘‘and’’ at the end of clause (xviii) and inserting ‘‘or’’, 
and by adding at the end the following new clause: 
‘‘(xix) section 6039(a) (relating to re-
turns required with respect to certain op-
tions), and’’. 
(2) Section 6724(d)(2)(B) is amended by strik-
ing ‘‘section 6039(a)’’ and inserting ‘‘section 
6039(b)’’. 
(3) The heading of section 6039 and the item 
relating to such section in the table of sections of 
subpart A of part III of subchapter A of chapter 61 
of such Code are each amended by striking ‘‘Infor-
mation’’ and inserting ‘‘Returns’’. 
(4) The heading of subsection (a) of section 
6039 is amended by striking ‘‘FURNISHING OF IN-
FORMATION’’ and inserting ‘‘REQUIREMENT OF RE-
PORTING’’. 
(d) EFFECTIVE DATE.—The amendments made by 
this section shall apply to calendar years beginning after 
the date of the enactment of this Act. 
SEC. 234. PARTIAL EXPENSING FOR ADVANCED MINE SAFE-
TY EQUIPMENT. 
(a) IN GENERAL.—Part VI of subchapter B of chap-
ter 1 is amended by inserting after section 179D the fol-
lowing new section: 
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‘‘SEC. 179E. ELECTION TO EXPENSE ADVANCED MINE SAFE-
TY EQUIPMENT. 
‘‘(a) TREATMENT AS EXPENSES.—A taxpayer may 
elect to treat 50 percent of the cost of any qualified ad-
vanced mine safety equipment property as an expense 
which is not chargeable to capital account. Any cost so 
treated shall be allowed as a deduction for the taxable year 
in which the qualified advanced mine safety equipment 
property is placed in service. 
‘‘(b) ELECTION.— 
‘‘(1) IN GENERAL.—An election under this sec-
tion for any taxable year shall be made on the tax-
payer’s return of the tax imposed by this chapter for 
the taxable year. Such election shall specify the ad-
vanced mine safety equipment property to which the 
election applies and shall be made in such manner 
as the Secretary may by regulations prescribe. 
‘‘(2) ELECTION
IRREVOCABLE.—Any election 
made under this section may not be revoked except 
with the consent of the Secretary. 
‘‘(c) QUALIFIED ADVANCED MINE SAFETY EQUIP-
MENT PROPERTY.—For purposes of this section, the term 
‘qualified advanced mine safety equipment property’ 
means any advanced mine safety equipment property for 
use in any underground mine located in the United 
States— 
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