I 
113TH CONGRESS 
2D SESSION 
H. R. 5528 
To amend the Internal Revenue Code of 1986 to make technical corrections, 
and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
SEPTEMBER 18, 2014 
Mr. CAMP (for himself and Mr. LEVIN) introduced the following bill; which 
was referred to the Committee on Ways and Means 
A BILL 
To amend the Internal Revenue Code of 1986 to make 
technical corrections, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE; AMENDMENT OF 1986 CODE; 
TABLE OF CONTENTS. 
(a) SHORT TITLE.—This Act may be cited as the 
‘‘Tax Technical Corrections Act of 2014’’. 
(b) AMENDMENT OF 1986 CODE.—Except as other-
wise expressly provided, whenever in this Act an amend-
ment or repeal is expressed in terms of an amendment 
to, or repeal of, a section or other provision, the reference 
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shall be considered to be made to a section or other provi-
sion of the Internal Revenue Code of 1986. 
(c) TABLE OF CONTENTS.—The table of contents of 
this Act is as follows: 
Sec. 1. Short title; amendment of 1986 code; table of contents. 
Sec. 2. Amendments relating to American Taxpayer Relief Act of 2012. 
Sec. 3. Amendment relating to Middle Class Tax Relief and Job Creation Act 
of 2012. 
Sec. 4. Amendment relating to FAA Modernization and Reform Act of 2012. 
Sec. 5. Amendments relating to Regulated Investment Company Modernization 
Act of 2010. 
Sec. 6. Amendments relating to Tax Relief, Unemployment Insurance Reau-
thorization, and Job Creation Act of 2010. 
Sec. 7. Amendments relating to Creating Small Business Jobs Act of 2010. 
Sec. 8. Clerical amendment relating to Hiring Incentives to Restore Employ-
ment Act. 
Sec. 9. Amendments relating to American Recovery and Reinvestment Tax Act 
of 2009. 
Sec. 10. Amendments relating to Energy Improvement and Extension Act of 
2008. 
Sec. 11. Amendments relating to Tax Extenders and Alternative Minimum Tax 
Relief Act of 2008. 
Sec. 12. Clerical amendments relating to Housing Assistance Tax Act of 2008. 
Sec. 13. Amendments and provision relating to Heroes Earnings Assistance and 
Relief Tax Act of 2008. 
Sec. 14. Amendments relating to Economic Stimulus Act of 2008. 
Sec. 15. Amendments relating to Tax Technical Corrections Act of 2007. 
Sec. 16. Amendment relating to Tax Relief and Health Care Act of 2006. 
Sec. 17. Amendment relating to Safe, Accountable, Flexible, Efficient Trans-
portation Equity Act of 2005: A Legacy for Users. 
Sec. 18. Amendments relating to Energy Tax Incentives Act of 2005. 
Sec. 19. Amendments relating to American Jobs Creation Act of 2004. 
Sec. 20. Other clerical corrections. 
Sec. 21. Deadwood provisions. 
SEC. 2. AMENDMENTS RELATING TO AMERICAN TAXPAYER 
RELIEF ACT OF 2012. 
(a) AMENDMENT RELATING TO SECTION 101(b).— 
Subclause (I) of section 642(b)(2)(C)(i) is amended by 
striking ‘‘section 151(d)(3)(C)(iii)’’ and inserting ‘‘section 
68(b)(1)(C)’’. 
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(f) EFFECTIVE DATE.—The amendments made by 
this section shall take effect as if included in the provision 
of the American Taxpayer Relief Act of 2012 to which 
they relate. 
SEC. 3. AMENDMENT RELATING TO MIDDLE CLASS TAX RE-
LIEF AND JOB CREATION ACT OF 2012. 
(a) AMENDMENT RELATING TO SECTION 7001.— 
Paragraph (1) of section 7001 of the Middle Class Tax 
Relief and Job Creation Act of 2012 is amended by strik-
ing ‘‘201(b)’’ and inserting ‘‘202(b)’’. 
(b) EFFECTIVE DATE.—The amendment made by 
subsection (a) shall take effect as if included in section 
7001 of the Middle Class Tax Relief and Job Creation 
Act of 2012. 
SEC. 4. AMENDMENT RELATING TO FAA MODERNIZATION 
AND REFORM ACT OF 2012. 
(a) AMENDMENT RELATING TO SECTION 1107.— 
Section 4281 is amended to read as follows: 
‘‘SEC. 4281. SMALL AIRCRAFT ON NONESTABLISHED LINES. 
‘‘(a) IN GENERAL.—The taxes imposed by sections 
4261 and 4271 shall not apply to transportation by an 
aircraft having a maximum certificated takeoff weight of 
6,000 pounds or less, except when such aircraft is oper-
ated on an established line or when such aircraft is a jet 
aircraft. 
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‘‘(b) MAXIMUM CERTIFICATED TAKEOFF WEIGHT.— 
For purposes of this section, the term ‘maximum certifi-
cated takeoff weight’ means the maximum such weight 
contained in the type certificate or airworthiness certifi-
cate. 
‘‘(c) SIGHTSEEING.—For purposes of this section, an 
aircraft shall not be considered as operated on an estab-
lished line at any time during which such aircraft is being 
operated on a flight the sole purpose of which is sight-
seeing. 
‘‘(d) JET AIRCRAFT.—For purposes of this section, 
the term ‘jet aircraft’ shall not include any aircraft which 
is a rotorcraft or propeller aircraft.’’. 
(b) EFFECTIVE DATE.—The amendment made by 
subsection (a) shall take effect as if included in section 
1107 of the FAA Modernization and Reform Act of 2012. 
SEC. 5. AMENDMENTS RELATING TO REGULATED INVEST-
MENT COMPANY MODERNIZATION ACT OF 
2010. 
(a) AMENDMENTS RELATING TO SECTION 101.— 
(1) Subsection (c) of section 101 of the Regu-
lated Investment Company Modernization Act of 
2010 is amended— 
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(A) by striking ‘‘paragraph (2)’’ in para-
graph (1) and inserting ‘‘paragraphs (2) and 
(3)’’, and 
(B) by adding at the end the following new 
paragraph: 
‘‘(3) EXCISE TAX.— 
‘‘(A) IN GENERAL.—Except as provided in 
subparagraph (B), for purposes of section 4982 
of the Internal Revenue Code of 1986, para-
graphs (1) and (2) shall apply by substituting 
‘the 1-year periods taken into account under 
subsection (b)(1)(B) of such section with re-
spect to calendar years beginning after Decem-
ber 31, 2010’ for ‘taxable years beginning after 
the date of the enactment of this Act’. 
‘‘(B) ELECTION.—A regulated investment 
company may elect to apply subparagraph (A) 
by substituting ‘2011’ for ‘2010’. Such election 
shall be made at such time and in such form 
and manner as the Secretary of the Treasury 
(or the Secretary’s delegate) shall prescribe.’’. 
(2) The first sentence of paragraph (2) of sec-
tion 852(c) is amended— 
(A) by striking ‘‘and without regard to’’ 
and inserting ‘‘, without regard to’’, and 
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(B) by inserting ‘‘, and without regard to 
any capital loss arising on the first day of the 
taxable year by reason of clauses (ii) and (iii) 
of section 1212(a)(3)(A)’’ before the period at 
the end. 
(b) AMENDMENT RELATING
TO SECTION 304.— 
Paragraph (1) of section 855(a) is amended by inserting 
‘‘on or’’ before ‘‘before’’. 
(c) AMENDMENTS RELATING TO SECTION 308.— 
(1) Paragraph (8) of section 852(b) is amended 
by redesignating subparagraph (E) as subparagraph 
(G) and by striking subparagraphs (C) and (D) and 
inserting the following new subparagraphs: 
‘‘(C) POST-OCTOBER CAPITAL LOSS.—For 
purposes of this paragraph, the term ‘post-Oc-
tober capital loss’ means— 
‘‘(i) any net capital loss attributable 
to the portion of the taxable year after Oc-
tober 31, or 
‘‘(ii) if there is no such loss— 
‘‘(I) any net long-term capital 
loss attributable to such portion of the 
taxable year, or 
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‘‘(II) any net short-term capital 
loss attributable to such portion of the 
taxable year. 
‘‘(D) LATE-YEAR
ORDINARY
LOSS.—For 
purposes of this paragraph, the term ‘late-year 
ordinary loss’ means the sum of any post-Octo-
ber specified loss and any post-December ordi-
nary loss. 
‘‘(E) POST-OCTOBER
SPECIFIED
LOSS.— 
For purposes of this paragraph, the term ‘post- 
October specified loss’ means the excess (if any) 
of— 
‘‘(i) the specified losses (as defined in 
section 4982(e)(5)(B)(ii)) attributable to 
the portion of the taxable year after Octo-
ber 31, over 
‘‘(ii) the specified gains (as defined in 
section 4982(e)(5)(B)(i)) attributable to 
such portion of the taxable year. 
‘‘(F) POST-DECEMBER ORDINARY LOSS.— 
For purposes of this paragraph, the term ‘post- 
December ordinary loss’ means the excess (if 
any) of— 
‘‘(i) the ordinary losses not described 
in subparagraph (E)(i) and attributable to 
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the portion of the taxable year after De-
cember 31, over 
‘‘(ii) the ordinary income not de-
scribed in subparagraph (E)(ii) and attrib-
utable to such portion of the taxable 
year.’’. 
(2) Subparagraph (G) of section 852(b)(8), as 
so redesignated, is amended by striking ‘‘, (D)(i)(I), 
and (D)(ii)(I)’’ and inserting ‘‘and (E)’’. 
(3) The first sentence of paragraph (2) of sec-
tion 852(c), as amended by subsection (a), is amend-
ed— 
(A) by striking ‘‘, and without regard to’’ 
and inserting ‘‘, without regard to’’, and 
(B) by inserting ‘‘, and with such other ad-
justments as the Secretary may prescribe’’ be-
fore the period at the end. 
(d) AMENDMENTS RELATING TO SECTION 402.— 
(1) Subparagraph (B) of section 4982(e)(6) is 
amended by inserting before the period at the end 
the following: ‘‘or which determines income by ref-
erence to the value of an item on the last day of the 
taxable year’’. 
(2) Subparagraph (A) of section 4982(e)(7) is 
amended by striking ‘‘such company’’ and all that 
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follows through ‘‘any net ordinary loss’’ and insert-
ing ‘‘such company may elect to determine its ordi-
nary income and net ordinary loss (as defined in 
paragraph (2)(C)(ii)) for the calendar year without 
regard to any portion of any net ordinary loss’’. 
(e) CLERICAL AMENDMENT RELATING TO SECTION 
201.—Subparagraph (A) of section 851(d)(2) is amended 
by inserting ‘‘of this paragraph’’ after ‘‘subparagraph 
(B)(i)’’. 
(f) EFFECTIVE DATE.— 
(1) IN GENERAL.—Except as provided in para-
graph (2), the amendments made by this section 
shall take effect as if included in the provision of the 
Regulated Investment Company Modernization Act 
of 2010 to which they relate. 
(2) SAVINGS PROVISION.—In the case of a reg-
ulated investment company which, before the date of 
the enactment of this Act, elected under paragraph 
(8) of section 852(b) of the Internal Revenue Code 
of 1986 (as in effect on the date of such election) 
for any taxable year ending before such date of en-
actment to treat any loss as arising in the following 
taxable year, the amendments made by paragraphs 
(1) and (2) of subsection (c) shall not apply with re-
spect to such election. 
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SEC. 6. AMENDMENTS RELATING TO TAX RELIEF, UNEM-
PLOYMENT INSURANCE REAUTHORIZATION, 
AND JOB CREATION ACT OF 2010. 
(a) AMENDMENT RELATING
TO SECTION 103.— 
Clause (ii) of section 32(b)(3)(B) is amended by striking 
‘‘in 2010’’ and inserting ‘‘after 2009’’. 
(b) CLERICAL AMENDMENTS RELATING TO SECTION 
302.— 
(1) Paragraph (1) of section 2801(a) is amend-
ed by striking ‘‘(or, if greater, the highest rate of 
tax specified in the table applicable under section 
2502(a) as in effect on the date)’’. 
(2) Subsection (f) of section 302 of the Tax Re-
lief, Unemployment Insurance Reauthorization, and 
Job Creation Act of 2010 is amended by striking 
‘‘subsection’’ and inserting ‘‘section’’. 
(c) AMENDMENTS RELATING
TO SECTION 753.— 
Subparagraph (A) of section 1397B(b)(1) is amended by 
striking ‘‘and’’ at the end of clause (ii), by striking the 
period at the end of clause (iii) and inserting ‘‘, and’’, and 
by adding at the end the following new clause: 
‘‘(iv) ‘January 1, 2014’ were sub-
stituted for ‘January 1, 2010’ each place it 
appears.’’. 
(d) EFFECTIVE DATE.—The amendments made by 
this section shall take effect as if included in the provisions 
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of the Tax Relief, Unemployment Insurance Reauthoriza-
tion, and Job Creation Act of 2010 to which they relate. 
SEC. 7. AMENDMENTS RELATING TO CREATING SMALL 
BUSINESS JOBS ACT OF 2010. 
(a) AMENDMENTS RELATING TO SECTION 2102.— 
(1) Subsection (h) of section 2102 of the Cre-
ating Small Business Jobs Act of 2010 is amended 
by inserting ‘‘, and payee statements required to be 
furnished,’’ after ‘‘information returns required to 
be filed’’. 
(2) Paragraphs (1) and (2) of subsection (b), 
and subsection (c)(1)(C), of section 6722 are each 
amended by striking ‘‘the required filing date’’ and 
inserting ‘‘the date prescribed for furnishing such 
statement’’. 
(3) Subparagraph (B) of section 6722(c)(2) is 
amended by striking ‘‘filed’’ and inserting ‘‘fur-
nished’’. 
(b) EFFECTIVE DATE.—The amendments made by 
this section shall take effect as if included in the provision 
of the Creating Small Business Jobs Act of 2010 to which 
they relate. 
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SEC. 8. CLERICAL AMENDMENT RELATING TO HIRING IN-
CENTIVES TO RESTORE EMPLOYMENT ACT. 
(a) AMENDMENT RELATING
TO SECTION 512.— 
Paragraph (1) of section 512(a) of the Hiring Incentives 
to Restore Employment Act is amended by striking ‘‘after 
paragraph (6)’’ and inserting ‘‘after paragraph (5)’’. 
(b) EFFECTIVE DATE.—The amendment made by 
this section shall take effect as if included in the provision 
of the Hiring Incentives to Restore Employment Act to 
which it relates. 
SEC. 9. AMENDMENTS RELATING TO AMERICAN RECOVERY 
AND REINVESTMENT TAX ACT OF 2009. 
(a) AMENDMENT RELATING TO SECTION 1003.— 
Paragraph (4) of section 24(d) is amended to read as fol-
lows: 
‘‘(4) SPECIAL RULE FOR CERTAIN YEARS.—In 
the case of any taxable year beginning after 2008 
and before 2018, paragraph (1)(B)(i) shall be ap-
plied by substituting ‘$3,000’ for ‘$10,000’.’’. 
(b) AMENDMENT RELATING TO SECTION 1004.— 
Paragraph (3) of section 25A(i) is amended by striking 
‘‘Subsection (f)(1)(A) shall be applied’’ and inserting ‘‘For 
purposes of determining the Hope Scholarship Credit, sub-
section (f)(1)(A) shall be applied’’. 
(c) AMENDMENTS RELATING TO SECTION 1008.— 
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(1) Paragraph (6) of section 164(b) is amended 
by striking subparagraph (E) and by redesignating 
subparagraphs (F) and (G) as subparagraphs (E) 
and (F), respectively. 
(2) Subparagraphs (E) and (F) of section 
164(b)(6), as so redesignated, are each amended by 
striking ‘‘This paragraph’’ and inserting ‘‘Subsection 
(a)(6)’’. 
(d) AMENDMENT RELATING TO SECTION 1104.— 
Subparagraph (A) of section 48(d)(3) is amended by in-
serting ‘‘or alternative minimum taxable income’’ after 
‘‘includible in the gross income’’. 
(e) AMENDMENTS RELATING TO SECTION 1141.— 
(1) Subsection (f) of section 30D is amended— 
(A) by inserting ‘‘(determined without re-
gard to subsection (c))’’ before the period at the 
end of paragraph (1), and 
(B) by inserting ‘‘(determined without re-
gard to subsection (c))’’ before the period at the 
end of paragraph (2). 
(2) Paragraph (3) of section 30D(f) is amended 
by adding at the end the following: ‘‘For purposes 
of subsection (c), property to which this paragraph 
applies shall be treated as of a character subject to 
an allowance for depreciation.’’. 
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(f) AMENDMENTS RELATING TO SECTION 1142.— 
(1) Subsection (b) of section 38 is amended by 
striking ‘‘plus’’ at the end of paragraph (35), by re-
designating paragraph (36) as paragraph (37), and 
by inserting after paragraph (35) the following new 
paragraph: 
‘‘(36) the portion of the qualified plug-in elec-
tric vehicle credit to which section 30(c)(1) applies, 
plus’’. 
(2)(A) Subsection (e) of section 30 is amend-
ed— 
(i) by inserting ‘‘(determined without re-
gard to subsection (c))’’ before the period at the 
end of paragraph (1), and 
(ii) by inserting ‘‘(determined without re-
gard to subsection (c))’’ before the period at the 
end of paragraph (2). 
(B) Paragraph (3) of section 30(e) is amended 
by adding at the end the following: ‘‘For purposes 
of subsection (c), property to which this paragraph 
applies shall be treated as of a character subject to 
an allowance for depreciation.’’. 
(g) AMENDMENT RELATING TO SECTION 1302.— 
Paragraph (3) of section 48C(b) is amended by inserting 
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‘‘as the qualified investment’’ after ‘‘The amount which 
is treated’’. 
(h) AMENDMENTS RELATED TO SECTION 1541.— 
(1) Paragraph (2) of section 853A(a) is amend-
ed by inserting ‘‘(determined after the application of 
this section)’’ before the comma at the end. 
(2) Subsection (a) of section 853A is amend-
ed— 
(A) by striking ‘‘with respect to credits’’ 
and inserting ‘‘with respect to some or all of 
the credits’’, and 
(B) by inserting ‘‘(determined without re-
gard to this section and sections 54(c), 
54A(c)(1), 54AA(c)(1), and 1397E(c))’’ after 
‘‘credits allowable’’. 
(3) Subsection (b) of section 853A is amended 
to read as follows: 
‘‘(b) EFFECT OF ELECTION.—If the election provided 
in subsection (a) is in effect with respect to any credits 
for any taxable year— 
‘‘(1) the regulated investment company— 
‘‘(A) shall not be allowed such credits, 
‘‘(B) shall include in gross income (as in-
terest) for such taxable year the amount which 
would have been so included with respect to 
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‘‘(c) NOTICE
TO
SHAREHOLDERS.—The amount 
treated as a distribution of money received by a share-
holder under subsection (b)(2)(A) (and as credits allowed 
to such shareholder under subsection (b)(2)(B)) shall not 
exceed the amount so reported by the regulated invest-
ment company in a written statement furnished to such 
shareholder.’’. 
(5) Clause (ii) of section 853A(e)(1)(A) is 
amended by inserting ‘‘other than a qualified bond 
described in section 54AA(g)’’ after ‘‘as defined in 
section 54AA(d))’’. 
(i) AMENDMENTS RELATING TO SECTION 2202.— 
(1) Subparagraph (A) of section 2202(b)(1) of 
division B of the American Recovery and Reinvest-
ment Act of 2009 is amended by inserting ‘‘political 
subdivision of a State,’’ after ‘‘any State,’’. 
(2) Section 2202 of division B of the American 
Recovery and Reinvestment Act of 2009 is amended 
by adding at the end the following new subsection: 
‘‘(e) TREATMENT OF POSSESSIONS.— 
‘‘(1) PAYMENTS
TO
MIRROR
CODE
POSSES-
SIONS.—The Secretary of the Treasury shall pay to 
each possession of the United States with a mirror 
code tax system amounts equal to the loss to that 
possession by reason of credits allowed under sub-
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section (a) with respect to taxable years beginning in 
2009. Such amounts shall be determined by the Sec-
retary of the Treasury based on information pro-
vided by the government of the respective possession. 
‘‘(2) COORDINATION
WITH
CREDIT
ALLOWED 
AGAINST UNITED STATES INCOME TAXES.—No cred-
it shall be allowed against United States income 
taxes for any taxable year under this section to any 
person to whom a credit is allowed against taxes im-
posed by the possession by reason of the credit al-
lowed under subsection (a) for such taxable year. 
‘‘(3) DEFINITIONS AND SPECIAL RULES.— 
‘‘(A) 
POSSESSION
OF
THE
UNITED 
STATES.—For purposes of this subsection, the 
term ‘possession of the United States’ includes 
the Commonwealth of the Northern Mariana Is-
lands. 
‘‘(B) MIRROR
CODE
TAX
SYSTEM.—For 
purposes of this subsection, the term ‘mirror 
code tax system’ means, with respect to any 
possession of the United States, the income tax 
system of such possession if the income tax li-
ability of the residents of such possession under 
such system is determined by reference to the 
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income tax laws of the United States as if such 
possession were the United States. 
‘‘(C) TREATMENT
OF
PAYMENTS.—For 
purposes of section 1324(b)(2) of title 31, 
United States Code, the payments under this 
subsection shall be treated in the same manner 
as a refund due from the credit allowed under 
section 36A of the Internal Revenue Code of 
1986 (as added by this Act).’’. 
(j) CLERICAL AMENDMENTS.— 
(1) 
AMENDMENT
RELATING
TO
SECTION 
1131.—Paragraph (2) of section 45Q(d) is amended 
by striking ‘‘Administrator of the Environmental 
Protection Agency’’ and all that follows through 
‘‘shall establish’’ and inserting ‘‘Administrator of the 
Environmental Protection Agency, the Secretary of 
Energy, and the Secretary of the Interior, shall es-
tablish’’. 
(2) 
AMENDMENT
RELATING
TO
SECTION 
1141.—Paragraph (37) of section 1016(a) is amend-
ed by striking ‘‘section 30D(e)(4)’’ and inserting 
‘‘section 30D(f)(1)’’. 
(3) 
AMENDMENT
RELATING
TO
SECTION 
3001.—Subparagraph (A) of section 3001(a)(14) of 
the American Recovery and Reinvestment Act of 
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2009 is amended by striking ‘‘is amended by redes-
ignating paragraph (9) as paragraph (10)’’ and in-
serting ‘‘, as amended by this Act, is amended by re-
designating paragraphs (9) and (10) as paragraphs 
(10) and (11), respectively,’’. 
(k) EFFECTIVE DATE.—The amendments made by 
this section shall take effect as if included in the provisions 
of the American Recovery and Reinvestment Tax Act of 
2009 to which they relate. 
SEC. 10. AMENDMENTS RELATING TO ENERGY IMPROVE-
MENT AND EXTENSION ACT OF 2008. 
(a) AMENDMENT RELATING TO SECTION 108.—Sub-
paragraph (E) of section 45K(g)(2) is amended to read 
as follows: 
‘‘(E) COORDINATION WITH SECTION 45.— 
No credit shall be allowed with respect to any 
coke or coke gas which is produced using steel 
industry fuel (as defined in section 45(c)(7)) as 
feedstock if a credit is allowed to any taxpayer 
under section 45 with respect to the production 
of such steel industry fuel.’’. 
(b) AMENDMENT RELATING
TO SECTION 113.— 
Paragraph (1) of section 113(b) of the Energy Improve-
ment and Extension Act of 2008 is amended by adding 
at the end the following new subparagraph: 
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‘‘(F) TRUST
FUND.—The term ‘Trust 
Fund’ means the Black Lung Disability Trust 
Fund established under section 9501 of the In-
ternal Revenue Code of 1986.’’. 
(c) AMENDMENTS RELATING TO SECTION 306.— 
(1) Clause (ii) of section 168(i)(18)(A) is 
amended by striking ‘‘10 years’’ and inserting ‘‘16 
years’’. 
(2) Clause (ii) of section 168(i)(19)(A) is 
amended by striking ‘‘10 years’’ and inserting ‘‘16 
years’’. 
(d) AMENDMENT RELATING
TO SECTION 308.— 
Clause (i) of section 168(m)(2)(B) is amended by striking 
‘‘section 168(k)’’ and inserting ‘‘subsection (k) (deter-
mined without regard to paragraph (4) thereof)’’. 
(e) AMENDMENT RELATING TO SECTION 402.—Sub-
paragraph (A) of section 907(f)(4) is amended by striking 
‘‘this subsection shall be applied’’ and all that follows 
through the period at the end and inserting the following: 
‘‘this subsection, as in effect on the day before the date 
of the enactment of the Energy Improvement and Exten-
sion Act of 2008, shall apply to unused oil and gas extrac-
tion taxes carried from such unused credit year to a tax-
able year beginning after December 31, 2008.’’. 
(f) AMENDMENTS RELATING TO SECTION 403.— 
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(1) Subsection (c) of section 1012 is amend-
ed— 
(A) by striking ‘‘FUNDS’’ in the heading 
for paragraph (2) and inserting ‘‘REGULATED 
INVESTMENT COMPANIES’’, 
(B) by striking ‘‘FUND’’ in the heading for 
paragraph (2)(B), and 
(C) by striking ‘‘fund’’ each place it ap-
pears in paragraph (2) and inserting ‘‘regulated 
investment company’’. 
(2) Paragraph (1) of section 1012(d) is amend-
ed— 
(A) by striking ‘‘December 31, 2010’’ and 
inserting ‘‘December 31, 2011’’, and 
(B) by striking ‘‘an open-end fund’’ and 
inserting ‘‘a regulated investment company’’. 
(3) Paragraph (3) of section 1012(d) is amend-
ed to read as follows: 
‘‘(3) SEPARATE
ACCOUNTS; 
ELECTION
FOR 
TREATMENT AS SINGLE ACCOUNT.— 
‘‘(A) IN GENERAL.—Rules similar to the 
rules of subsection (c)(2) shall apply for pur-
poses of this subsection. 
‘‘(B) AVERAGE BASIS METHOD.—Notwith-
standing paragraph (1), in the case of an elec-
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tion under rules similar to the rules of sub-
section (c)(2)(B) with respect to stock held in 
connection with a dividend reinvestment plan, 
the average basis method is permissible with re-
spect to all such stock without regard to the 
date of the acquisition of such stock.’’. 
(4) Subsection (g) of section 6045 is amended 
by adding at the end the following new paragraph: 
‘‘(6) SPECIAL RULE FOR CERTAIN STOCK HELD 
IN
CONNECTION
WITH
DIVIDEND
REINVESTMENT 
PLAN.—For purposes of this subsection, stock ac-
quired before January 1, 2012, in connection with a 
dividend reinvestment plan shall be treated as stock 
described in clause (ii) of paragraph (3)(C) (unless 
the broker with respect to such stock elects not to 
have this paragraph apply with respect to such 
stock).’’. 
(g) CLERICAL AMENDMENTS.— 
(1) AMENDMENT RELATING TO SECTION 108.— 
Paragraph (2) of section 45(b) is amended by strik-
ing ‘‘$3 amount’’ and inserting ‘‘$2 amount’’. 
(2) AMENDMENT RELATING TO SECTION 306.— 
Paragraph (5) of section 168(b) is amended by 
striking ‘‘(2)(C)’’ and inserting ‘‘(2)(D)’’. 
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(h) EFFECTIVE DATE.—The amendments made by 
this section shall take effect as if included in the provisions 
of the Energy Improvement and Extension Act of 2008 
to which they relate. 
SEC. 11. AMENDMENTS RELATING TO TAX EXTENDERS AND 
ALTERNATIVE MINIMUM TAX RELIEF ACT OF 
2008. 
(a) AMENDMENT RELATING TO SECTION 208.—Sub-
section (b) of section 208 of the Tax Extenders and Alter-
native Minimum Tax Relief Act of 2008 is amended to 
read as follows: 
‘‘(b) EFFECTIVE DATE.— 
‘‘(1) IN GENERAL.—The amendment made by 
subsection (a) shall take effect on January 1, 2008. 
Notwithstanding 
the 
preceding 
sentence, 
such 
amendment shall not apply with respect to the with-
holding requirement under section 1445 of the Inter-
nal Revenue Code of 1986 for any payment made 
before October 4, 2008. 
‘‘(2) AMOUNTS
WITHHELD
ON
OR
BEFORE 
DATE OF ENACTMENT.—In the case of a regulated 
investment company— 
‘‘(A) which makes a distribution after De-
cember 31, 2007, and before October 4, 2008, 
and 
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‘‘(B) which would (but for the second sen-
tence of paragraph (1)) have been required to 
withhold with respect to such distribution under 
section 1445 of such Code, 
such investment company shall not be liable to any 
person to whom such distribution was made for any 
amount so withheld and paid over to the Secretary 
of the Treasury.’’. 
(b) AMENDMENTS RELATING TO SECTION 305.— 
Paragraphs (7)(B) and (8)(D) of section 168(e) are each 
amended by inserting ‘‘which is not qualified leasehold im-
provement property’’ after ‘‘Property described in this 
paragraph’’. 
(c) CLERICAL AMENDMENTS.— 
(1) AMENDMENTS
RELATING
TO
SECTION 
706.— 
(A) Paragraph (2) of section 1033(h) is 
amended 
by 
inserting 
‘‘is’’ 
before 
‘‘compulsorily’’. 
(B) 
Subclause 
(II) 
of 
section 
172(b)(1)(F)(ii) is amended by striking ‘‘sub-
section (h)(3)(C)(i)’’ and inserting ‘‘section 
165(h)(3)(C)(i)’’. 
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(C) The heading for paragraph (1) of sec-
tion 165(h) is amended by striking ‘‘$100’’ and 
inserting ‘‘DOLLAR’’. 
(2) AMENDMENT RELATING TO SECTION 709.— 
Subsection (k) of section 143 is amended by redesig-
nating the second paragraph (12) (relating to special 
rules for residences destroyed in Federally declared 
disasters) as paragraph (13). 
(3) AMENDMENT RELATING TO SECTION 712.— 
Section 712 of the Tax Extenders and Alternative 
Minimum Tax Relief Act of 2008 is amended by 
striking ‘‘section 702(c)(1)(A)’’ and inserting ‘‘sec-
tion 702(b)(1)(A)’’. 
(d) EFFECTIVE DATE.—The amendments made by 
this section shall take effect as if included in the provisions 
of the Tax Extenders and Alternative Minimum Tax Relief 
Act of 2008 to which they relate. 
SEC. 12. CLERICAL AMENDMENTS RELATING TO HOUSING 
ASSISTANCE TAX ACT OF 2008. 
(a) AMENDMENT RELATING TO SECTION 3002.— 
Paragraph (1) of section 42(b) is amended by striking 
‘‘For purposes of this section, the term’’ and inserting the 
following: ‘‘For purposes of this section— 
‘‘(A) IN GENERAL.—The term’’. 
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(b) AMENDMENT RELATING TO SECTION 3081.— 
Clause (iv) of section 168(k)(4)(E) is amended by striking 
‘‘adjusted minimum tax’’ and inserting ‘‘adjusted net min-
imum tax’’. 
(c) AMENDMENT RELATING TO SECTION 3092.— 
Subsection (b) of section 121 is amended by redesignating 
the second paragraph (4) (relating to exclusion of gain al-
located to nonqualified use) as paragraph (5). 
(d) EFFECTIVE DATE.—The amendments made by 
this section shall take effect as if included in the provisions 
of the Housing Assistance Tax Act of 2008 to which they 
relate. 
SEC. 13. AMENDMENTS AND PROVISION RELATING TO HE-
ROES EARNINGS ASSISTANCE AND RELIEF 
TAX ACT OF 2008. 
(a) AMENDMENT RELATING
TO SECTION 106.— 
Paragraph (2) of section 106(c) of the Heroes Earnings 
Assistance and Relief Tax Act of 2008 is amended by 
striking ‘‘substituting for’’ and inserting ‘‘substituting 
‘June 17, 2008’ for’’. 
(b) AMENDMENT RELATING
TO SECTION 114.— 
Paragraph (1) of section 125(h) is amended by inserting 
‘‘(and shall not fail to be treated as an accident or health 
plan)’’ before ‘‘merely’’. 
(c) CLERICAL AMENDMENTS.— 
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(1) AMENDMENT RELATING TO SECTION 110.— 
Subparagraph (B) of section 121(d)(12) is amended 
by inserting ‘‘of paragraph (9)’’ after ‘‘and (D)’’. 
(2) AMENDMENT RELATING TO SECTION 301.— 
Paragraph (2) of section 877(e) is amended by strik-
ing ‘‘subparagraph (A) or (B) of’’. 
(d) EFFECTIVE DATE.—The amendments made by 
this section shall take effect as if included in the provisions 
of the Heroes Earnings Assistance and Relief Tax Act of 
2008 to which they relate. 
SEC. 14. AMENDMENTS RELATING TO ECONOMIC STIMULUS 
ACT OF 2008. 
(a) AMENDMENTS RELATING TO SECTION 101.— 
Paragraph (2) of section 6213(g) is amended— 
(1) by striking ‘‘32, or 6428’’ in subparagraph 
(L) and inserting ‘‘or 32’’, and 
(2) by striking ‘‘and’’ at the end of subpara-
graph (O), by striking the period at the end of sub-
paragraph (P) and inserting ‘‘, and’’, and by insert-
ing after subparagraph (P) the following new sub-
paragraph: 
‘‘(Q) an omission of a correct valid identi-
fication number required under section 6428(h) 
(relating to 2008 recovery rebates for individ-
uals) to be included on a return.’’. 
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(b) CLERICAL AMENDMENT RELATING TO SECTION 
103.—Subclause (IV) of section 168(k)(2)(B)(i) is amend-
ed by striking ‘‘clauses also apply’’ and inserting ‘‘clause 
also applies’’. 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall take effect as if included in the provisions 
of the Economic Stimulus Act of 2008 to which they re-
late. 
SEC. 15. AMENDMENTS RELATING TO TAX TECHNICAL COR-
RECTIONS ACT OF 2007. 
(a) AMENDMENT RELATING
TO SECTION 4(c).— 
Paragraph (1) of section 911(f) is amended by adding at 
the end the following flush sentence: 
‘‘For purposes of this paragraph, the amount ex-
cluded under subsection (a) shall be reduced by the 
aggregate amount of any deductions or exclusions 
disallowed under subsection (d)(6) with respect to 
such excluded amount.’’. 
(b) CLERICAL AMENDMENT RELATING TO SECTION 
11(g).—Clause (iv) of section 56(g)(4)(C) is amended by 
striking ‘‘a cooperative described in section 927(a)(4)’’ 
and inserting ‘‘an organization to which part I of sub-
chapter T (relating to tax treatment of cooperatives) ap-
plies which is engaged in the marketing of agricultural or 
horticultural products’’. 
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(c) EFFECTIVE DATE.—The amendments made by 
this section shall take effect as if included in the provisions 
of the Tax Technical Corrections Act of 2007 to which 
they relate. 
SEC. 16. AMENDMENT RELATING TO TAX RELIEF AND 
HEALTH CARE ACT OF 2006. 
(a) AMENDMENT RELATING TO SECTION 105.—Sub-
paragraph (B) of section 45A(b)(1) is amended by adding 
at the end the following: ‘‘If any portion of wages are 
taken into account under subsection (e)(1)(A) of section 
51, the preceding sentence shall be applied by substituting 
‘2-year period’ for ‘1-year period’.’’. 
(b) EFFECTIVE DATE.—The amendment made by 
this section shall take effect as if included in the provision 
of the Tax Relief and Health Care Act of 2006 to which 
it relates. 
SEC. 17. AMENDMENT RELATING TO SAFE, ACCOUNTABLE, 
FLEXIBLE, EFFICIENT TRANSPORTATION EQ-
UITY ACT OF 2005: A LEGACY FOR USERS. 
(a) AMENDMENT RELATING TO SECTION 11161.— 
Paragraph (1) of section 9503(b) is amended by inserting 
before the period at the end the following: ‘‘and taxes re-
ceived under section 4081 shall be determined without re-
gard to tax receipts attributable to the rate specified in 
section 4081(a)(2)(C)’’. 
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(b) EFFECTIVE DATE.—The amendment made by 
this section shall take effect as if included in the provision 
of the Safe, Accountable, Flexible, Efficient Transpor-
tation Equity Act of 2005: A Legacy for Users to which 
it relates. 
SEC. 18. AMENDMENTS RELATING TO ENERGY TAX INCEN-
TIVES ACT OF 2005. 
(a) AMENDMENT RELATING TO SECTION 1341.— 
Subparagraph (B) of section 30B(h)(5) is amended by in-
serting ‘‘(determined without regard to subsection (g))’’ 
before the period at the end. 
(b) AMENDMENT RELATING TO SECTION 1342.— 
Paragraph (1) of section 30C(e) is amended to read as 
follows: 
‘‘(1) REDUCTION IN BASIS.—For purposes of 
this subtitle, the basis of any property for which a 
credit is allowable under subsection (a) shall be re-
duced by the amount of such credit so allowed (de-
termined without regard to subsection (d)).’’. 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall take effect as if included in the provision 
of the Energy Tax Incentives Act of 2005 to which it re-
lates. 
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SEC. 19. AMENDMENTS RELATING TO AMERICAN JOBS CRE-
ATION ACT OF 2004. 
(a) AMENDMENT RELATING TO SECTION 101.—Sub-
section (d) of section 101 of the American Jobs Creation 
Act of 2004 is amended by adding at the end the following 
new paragraph: 
‘‘(3) COORDINATION WITH SECTION 199.—This 
subsection shall be applied without regard to any de-
duction allowable under section 199.’’. 
(b) AMENDMENTS RELATING TO SECTION 102.— 
Paragraph (3) of section 199(b) is amended— 
(1) by inserting ‘‘of a short taxable year or’’ 
after ‘‘in cases’’, and 
(2) by striking ‘‘AND DISPOSITIONS’’ and insert-
ing ‘‘, DISPOSITIONS, AND SHORT TAXABLE YEARS’’. 
(c) CLERICAL AMENDMENT RELATING TO SECTION 
413.—Paragraph (7) of section 904(h) is amended by 
striking ‘‘as ordinary income under section 1246 or’’. 
(d) EFFECTIVE DATE.—The amendments made by 
this section shall take effect as if included in the provision 
of the American Jobs Creation Act of 2004 to which they 
relate. 
SEC. 20. OTHER CLERICAL CORRECTIONS. 
(a) Paragraph (8) of section 30B(h) is amended by 
striking ‘‘vehicle)., except that’’ and inserting ‘‘vehicle), 
except that’’. 
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(b) Subparagraph (A) of section 38(c)(2) is amended 
by striking ‘‘credit credit’’ and inserting ‘‘credit’’. 
(c) Section 46 is amended by adding a comma at the 
end of paragraph (4). 
(d) Subparagraph (E) of section 50(a)(2) is amended 
by inserting ‘‘, 48A(b)(3), 48B(b)(3), 48C(b)(2), or 
48D(b)(4)’’ after ‘‘under section 48(b)’’. 
(e) Clause (i) of section 54A(d)(2)(A) is amended by 
striking ‘‘100 percent or more’’ and inserting ‘‘100 per-
cent’’. 
(f) Paragraph (2) of section 125(b) is amended by 
striking ‘‘statutory nontaxable benefits’’ each place it ap-
pears and inserting ‘‘qualified benefits’’. 
(g) Paragraph (2) of section 125(h) is amended by 
striking ‘‘means, any’’ and inserting ‘‘means any’’. 
(h) Subparagraph (F) of section 163(h)(4) is amend-
ed by striking ‘‘Veterans Administration or the Rural 
Housing Administration’’ and inserting ‘‘Department of 
Veterans Affairs or the Rural Housing Service’’. 
(i) Subsection (a) of section 249 is amended by strik-
ing ‘‘1563(a)(1)’’ and inserting ‘‘1563(a)(1))’’. 
(j) Paragraphs (8) and (10) of section 280F(d) are 
each amended by striking ‘‘subsection (a)(2)’’ and insert-
ing ‘‘subsection (a)(1)’’. 
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(k) Clause (iii) of section 402A(c)(4)(E) is amended 
by 
striking 
‘‘403(b)(7)(A)(i)’’ 
and 
inserting 
‘‘403(b)(7)(A)(ii)’’. 
(l) Section 527 is amended— 
(1) by striking ‘‘(2 U.S.C. 432(e))’’ in sub-
section (h)(2)(A)(i) and inserting ‘‘(52 U.S.C. 
30102(e))’’, and 
(2) by striking ‘‘(2 U.S.C. 431 et seq.)’’ in sub-
sections (i)(6) and (j)(5)(A) and inserting ‘‘(52 
U.S.C. 30101 et seq.)’’. 
(m) Subsection (b) of section 858 is amended by 
striking ‘‘857(b)(8)’’ and inserting ‘‘857(b)(9)’’. 
(n) Subparagraph (A) of section 1012(c)(2) is 
amended by striking ‘‘section 1012’’ and inserting ‘‘this 
section’’. 
(o) The heading for section 1394(f) is amended by 
striking ‘‘DESIGNATED UNDER SECTION 1391(g)’’. 
(p) Paragraphs (1) and (2)(A) of section 1394(f) are 
each amended by striking ‘‘a new empowerment zone facil-
ity bond’’ and inserting ‘‘an empowerment zone facility 
bond’’. 
(q) Clause (i) of section 1400N(c)(3)(A) is amended 
by striking ‘‘section 42(d)(5)(C)(iii)’’ and inserting ‘‘sec-
tion 42(d)(5)(B)(iii)’’. 
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(r) Subsections (e)(3)(B) and (f)(7)(B) of section 
4943 are each amended by striking ‘‘January 1, 1970’’ 
and inserting ‘‘January 1, 1971’’. 
(s) Paragraph (2) of section 4982(f) is amended by 
adding a comma at the end. 
(t) Paragraph (3) of section 6011(e) is amended by 
striking ‘‘shall require than’’ and inserting ‘‘shall require 
that’’. 
(u) Subsection (b) of section 6072 is amended by 
striking ‘‘6011(e)(2)’’ and inserting ‘‘6011(c)(2)’’. 
(v) Subsection (d) of section 6104 is amended by re-
designating the second paragraph (6) (relating to disclo-
sure of reports by the Internal Revenue Service) and third 
paragraph (6) (relating to application to nonexempt chari-
table trusts and nonexempt private foundations) as para-
graphs (7) and (8), respectively. 
(w) Subsection (c) of section 6662A is amended by 
striking ‘‘section 6664(d)(2)(A)’’ and inserting ‘‘section 
6664(d)(3)(A)’’. 
(x) Subparagraph (FF) of section 6724(d)(2) is 
amended by striking ‘‘section 6050W(c)’’ and inserting 
‘‘section 6050W(f)’’. 
(y) Subsection (a) of section 9035 is amended by 
striking 
‘‘section 
320(b)(1)(A)’’ 
and 
inserting 
‘‘315(b)(1)(A)’’. 
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(z) Section 9802 is amended by redesignating the sec-
ond subsection (f) (relating to genetic information of a 
fetus or embryo) as subsection (g). 
(aa) Paragraph (3) of section 13(e) of the Worker, 
Homeownership, and Business Assistance Act of 2009 is 
amended by striking ‘‘subsection (d)’’ and inserting ‘‘sub-
section (c)’’. 
SEC. 21. DEADWOOD PROVISIONS. 
(a) IN GENERAL.— 
(1) ADJUSTMENTS IN TAX TABLES SO THAT IN-
FLATION WILL NOT RESULT IN TAX INCREASES.— 
Paragraph (7) of section 1(f) is amended to read as 
follows: 
‘‘(7) SPECIAL RULE FOR CERTAIN BRACKETS.— 
In prescribing tables under paragraph (1) which 
apply to taxable years beginning in a calendar year 
after 1994, the cost-of-living adjustment used in 
making adjustments to the dollar amounts at which 
the 36 percent rate bracket begins or at which the 
39.6 percent rate bracket begins shall be determined 
under paragraph (3) by substituting ‘1993’ for 
‘1992’.’’. 
(2) CERTAIN PLUG-IN ELECTRIC VEHICLES.— 
(A) Subpart B of part IV of subchapter A 
of chapter 1 is amended by striking section 30 
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(and by striking the item relating to such sec-
tion in the table of sections for such subpart). 
(B) Subsection (b) of section 38, as 
amended by section 9(f)(1) of this Act, is 
amended by inserting ‘‘plus’’ at the end of 
paragraph (35), by striking paragraph (36), 
and by redesignating paragraph (37) as para-
graph (36). 
(C) 
Subclause 
(VI) 
of 
section 
48C(c)(1)(A)(i) is amended by striking ‘‘, quali-
fied plug-in electric vehicles (as defined by sec-
tion 30(d)),’’. 
(D) Section 1016(a) is amended by strik-
ing paragraph (25). 
(E) Section 6501(m) is amended by strik-
ing ‘‘section 30(e)(6),’’. 
(3) EARNED INCOME CREDIT.— 
(A) Paragraph (1) of section 32(b) is 
amended— 
(i) by striking subparagraphs (B) and 
(C), and 
(ii) by striking ‘‘(a) IN GENERAL.—In 
the case of taxable years beginning after 
1995:’’ in subparagraph (A) and moving 
the table 2 ems to the left. 
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(ii) The amendment made by clause (i) 
striking subsection (f) of section 53 of the In-
ternal Revenue Code of 1986 shall not be con-
strued to allow any tax abated by reason of sec-
tion 53(f)(1) of such Code (as in effect before 
such amendment) to be included in the amount 
determined under section 53(b)(1) of such 
Code. 
(B) Paragraph (4) of section 6211(b)(4) is 
amended by striking ‘‘, 53(e)’’. 
(9) ADJUSTMENTS BASED ON ADJUSTED CUR-
RENT EARNINGS.—Clause (ii) of section 56(g)(4)(F) 
is amended by striking ‘‘In the case of any taxable 
year beginning after December 31, 1992, clause’’ 
and inserting ‘‘Clause’’. 
(10) ITEMS
OF
TAX
PREFERENCE; DEPLE-
TION.—Paragraph (1) of section 57(a) is amended 
by striking ‘‘Effective with respect to taxable years 
beginning after December 31, 1992, this’’ and in-
serting ‘‘This’’. 
(11) INTANGIBLE DRILLING COSTS.— 
(A) Clause (i) of section 57(a)(2)(E) is 
amended by striking ‘‘In the case of any taxable 
year beginning after December 31, 1992, this’’ 
and inserting ‘‘This’’. 
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(B) Clause (ii) of section 57(a)(2)(E) is 
amended by striking ‘‘(30 percent in the case of 
taxable years beginning in 1993)’’. 
(12) ENVIRONMENTAL TAX.— 
(A) Subchapter A of chapter 1 is amended 
by striking part VII (and by striking the item 
relating to such part in the table of parts for 
such subchapter). 
(B) Paragraph (2) of section 26(b) is 
amended by striking subparagraph (B). 
(C) Section 30A(c) is amended by striking 
paragraph (1) and by redesignating paragraphs 
(2), (3), and (4) as paragraphs (1), (2), and 
(3), respectively. 
(D) Subsection (a) of section 164 is 
amended by striking paragraph (5). 
(E) Section 275(a) is amended by striking 
the last sentence. 
(F) Section 882(a)(1) is amended by strik-
ing ‘‘, 59A’’. 
(G) Section 936(a)(3) is amended by strik-
ing subparagraph (A) and by redesignating sub-
paragraphs (B), (C), and (D) as subparagraphs 
(A), (B), and (C), respectively. 
(H) Section 1561(a) is amended— 
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(i) by inserting ‘‘and’’ at the end of 
paragraph (2), by striking ‘‘, and’’ at the 
end of paragraph (3) and inserting a pe-
riod, and by striking paragraph (4), and 
(ii) by striking ‘‘, the amount speci-
fied in paragraph (3), and the amount 
specified in paragraph (4)’’ and inserting 
‘‘and the amount specified in paragraph 
(3)’’. 
(I) Section 4611(e) is amended— 
(i) by striking ‘‘section 59A, this sec-
tion,’’ in paragraph (2)(B) and inserting 
‘‘this section’’, and 
(ii) in paragraph (3)(A)— 
(I) by striking ‘‘section 59A,’’, 
and 
(II) by striking the comma after 
‘‘rate)’’. 
(J) Section 6425(c)(1)(A) is amended by 
inserting ‘‘plus’’ at end of clause (i), by striking 
‘‘plus’’ and inserting ‘‘over’’ at the end of 
clause (ii), and by striking clause (iii). 
(K) Section 6655 is amended— 
(i) in subsection (e)(2)(A)(i) and 
(e)(2)(B)(i), by striking ‘‘taxable income, 
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alternative minimum taxable income, and 
modified alternative minimum taxable in-
come’’ and inserting ‘‘taxable income and 
alternative minimum taxable income’’, 
(ii) in subsection (e)(2)(B), by strik-
ing clause (iii), and 
(iii) in subsection (g)(1)(A), by insert-
ing ‘‘plus’’ at the end of clause (ii), by 
striking clause (iii), and by redesignating 
clause (iv) as clause (iii). 
(L) Section 9507(b)(1) is amended by 
striking ‘‘59A,’’. 
(13) STANDARD DEDUCTION.— 
(A) So much of paragraph (1) of section 
63(c) as follows ‘‘the sum of—’’ is amended to 
read as follows: 
‘‘(A) the basic standard deduction, and 
‘‘(B) the additional standard deduction.’’. 
(B) Subsection (e) of section 63 is amend-
ed by striking paragraphs (7), (8), and (9). 
(14) ANNUITIES; CERTAIN PROCEEDS OF EN-
DOWMENT AND LIFE INSURANCE CONTRACTS.—Sec-
tion 72 is amended— 
(A) in subsection (c)(4), by striking ‘‘; ex-
cept that if such date was before January 1, 
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1954, then the annuity starting date is January 
1, 1954’’, and 
(B) in subsection (g)(3), by striking ‘‘Jan-
uary 1, 1954, or’’ and ‘‘, whichever is later’’. 
(15) UNEMPLOYMENT
COMPENSATION.—Sec-
tion 85 is amended by striking subsection (c). 
(16) ACCIDENT AND HEALTH PLANS.—Section 
105(f) is amended by striking ‘‘or (d)’’. 
(17) FLEXIBLE SPENDING ARRANGEMENTS.— 
Section 106(c)(1) is amended by striking ‘‘Effective 
on and after January 1, 1997, gross’’ and inserting 
‘‘Gross’’. 
(18) CERTAIN
COMBAT
ZONE
COMPENSATION 
OF MEMBERS OF THE ARMED FORCES.—Subsection 
(c) of section 112 is amended— 
(A) by striking ‘‘(after June 24, 1950)’’ in 
paragraph (2), and 
(B) by striking ‘‘such zone;’’ and all that 
follows in paragraph (3) and inserting ‘‘such 
zone.’’. 
(19) LEGAL SERVICE PLANS.— 
(A) Part III of subchapter B of chapter 1 
is amended by striking section 120 (and by 
striking the item relating to such section in the 
table of sections for such subpart). 
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(B)(i) Section 414(n)(3)(C) is amended by 
striking ‘‘120,’’. 
(ii) Section 414(t)(2) is amended by strik-
ing ‘‘120,’’. 
(iii) Section 501(c) is amended by striking 
paragraph (20). 
(iv) Section 3121(a) is amended by strik-
ing paragraph (17). 
(v) Section 3231(e) is amended by striking 
paragraph (7). 
(vi) Section 3306(b) is amended by strik-
ing paragraph (12). 
(vii) Section 6039D(d)(1) is amended by 
striking ‘‘120,’’. 
(viii) Section 209(a)(14) of the Social Se-
curity Act is amended— 
(I) by striking subparagraph (B), and 
(II) by striking ‘‘(14)(A)’’ and insert-
ing ‘‘(14)’’. 
(20) 
PRINCIPAL
RESIDENCE.—Section 
121(b)(3) is amended— 
(A) by striking subparagraph (B), and 
(B) in subparagraph (A), by striking ‘‘(A) 
IN GENERAL.—’’ and moving the text 2 ems to 
the left. 
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(iii), (iv), and (v) as clauses (ii), (iii), and (iv), 
respectively. 
(27) QUALIFIED MOTOR VEHICLE TAXES.—Sec-
tion 164, as amended by section 9(c) of this Act, is 
amended by striking subsections (a)(6) and (b)(6). 
(28) DISASTER LOSSES.— 
(A) Subsection (h) of section 165 is 
amended by striking paragraph (3) and by re-
designating paragraphs (4) and (5) as para-
graphs (3) and (4), respectively. 
(B) Paragraph (3) of section 165(h), as so 
redesignated, is amended by striking ‘‘para-
graphs (2) and (3)’’ and inserting ‘‘paragraph 
(2)’’. 
(C) Subsection (i) of section 165 is amend-
ed— 
(i) in paragraph (1)— 
(I) by striking ‘‘(as defined by 
clause (ii) of subsection (h)(3)(C))’’, 
and 
(II) by striking ‘‘(as defined by 
clause (i) of such subsection)’’, 
(ii) by striking ‘‘(as defined by sub-
section (h)(3)(C)(i)’’ in paragraph (4), and 
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(iii) by adding at the end the fol-
lowing new paragraph: 
‘‘(5) FEDERALLY DECLARED DISASTERS.—For 
purposes of this subsection— 
‘‘(A) IN GENERAL.—The term ‘Federally 
declared disaster’ means any disaster subse-
quently determined by the President of the 
United States to warrant assistance by the Fed-
eral Government under the Robert T. Stafford 
Disaster Relief and Emergency Assistance Act. 
‘‘(B) DISASTER AREA.—The term ‘disaster 
area’ means the area so determined to warrant 
such assistance.’’. 
(D) Section 1033(h)(3) is amended by 
striking ‘‘section 165(h)(3)(C)’’ and inserting 
‘‘section 165(i)(5)’’. 
(29) CHARITABLE, ETC., CONTRIBUTIONS AND 
GIFTS.—Section 170 is amended— 
(A) by striking paragraph (3) of subsection 
(b), 
(B) by striking paragraph (6) of sub-
section (e), and 
(C) by striking subsection (k). 
(30) AMORTIZABLE BOND PREMIUM.— 
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(A) Subparagraph (B) of section 171(b)(1) 
is amended to read as follows: 
‘‘(B)(i) with reference to the amount pay-
able on maturity (or if it results in a smaller 
amortizable bond premium attributable to the 
period before the call date, with reference to the 
amount payable on the earlier call date), in the 
case of a bond described in subsection (a)(1), 
and 
‘‘(ii) with reference to the amount payable 
on maturity or on an earlier call date, in the 
case of a bond described in subsection (a)(2).’’. 
(B) Paragraphs (2) and (3)(B) of section 
171(b) are each amended by striking ‘‘para-
graph (1)(B)(ii)’’ and inserting ‘‘paragraph 
(1)(B)(i)’’. 
(31) NET
OPERATING
LOSS
CARRYBACKS, 
CARRYOVERS, AND CARRYFORWARDS.— 
(A) Section 172, as amended by section 
11(c)(1)(B) of this Act, is amended— 
(i) by striking subparagraphs (D), 
(H), (I), and (J) of subsection (b)(1) and 
by redesignating subparagraphs (E), (F), 
and (G) as subparagraphs (D), (E), and 
(F), respectively, and 
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(ii) by striking subsections (g) and (j) 
and by redesignating subsections (h), (i), 
and (k) as subsections (g), (h), and (i), re-
spectively. 
(B) Each of the following provisions of sec-
tion 172 (as amended by section 11(c)(1)(B) 
and as redesignated by subparagraph (A)) are 
amended as follows: 
(i) By striking ‘‘ending after August 
2, 1989’’ in subsection (b)(1)(D)(i)(II). 
(ii) By striking ‘‘subsection (h)’’ in 
subsection 
(b)(1)(D)(ii) 
and 
inserting 
‘‘subsection (g)’’. 
(iii) 
By 
striking 
‘‘section 
165(h)(3)(C)(i)’’ 
in 
subsection 
(b)(1)(E)(ii)(II) and inserting ‘‘section 
165(i)(5)’’. 
(iv) By striking ‘‘subsection (i)’’ and 
all that follows in the last sentence of sub-
section (b)(1)(E)(ii) and inserting ‘‘sub-
section (h)).’’. 
(v) By striking ‘‘subsection (i)’’ in 
subsection (b)(1)(F) and inserting ‘‘sub-
section (h)’’. 
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(vi) By striking subparagraph (F) of 
paragraph (2) of subsection (g). 
(vii) 
By 
striking 
‘‘subsection 
(b)(1)(E)’’ each place it appears in sub-
section (g)(4) and inserting ‘‘subsection 
(b)(1)(D)’’. 
(viii) By striking the last sentence of 
subsection (h)(1). 
(ix) 
By 
striking 
‘‘subsection 
(b)(1)(G)’’ each place it appears in sub-
section (h)(3) and inserting ‘‘subsection 
(b)(1)(F)’’. 
(C) Paragraph (5) of section 382(l) is 
amended by striking subparagraph (F) and by 
redesignating subparagraphs (G) and (H) as 
subparagraphs (F) and (G), respectively. 
(32) RESEARCH AND EXPERIMENTAL EXPENDI-
TURES.—Subparagraph (A) of section 174(a)(2) is 
amended to read as follows: 
‘‘(I) WITHOUT
CONSENT.—A taxpayer 
may, without the consent of the Secretary, 
adopt the method provided in this subsection 
for his first taxable year for which expenditures 
described in paragraph (1) are paid or in-
curred.’’. 
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(33) AMORTIZATION
OF
CERTAIN
RESEARCH 
AND
EXPERIMENTAL
EXPENDITURES.—Paragraph 
(2) of section 174(b) is amended by striking ‘‘begin-
ning after December 31, 1953’’. 
(34) SOIL AND WATER CONSERVATION EXPEND-
ITURES.—Paragraph (1) of section 175(d) is amend-
ed to read as follows: 
‘‘(1) WITHOUT
CONSENT.—A taxpayer may, 
without the consent of the Secretary, adopt the 
method provided in this section for the taxpayer’s 
first taxable year for which expenditures described in 
subsection (a) are paid or incurred.’’. 
(35) CLEAN-FUEL VEHICLES.— 
(A) Part VI of subchapter A of chapter 1 
is amended by striking section 179A (and by 
striking the item relating to such section in the 
table of sections for such part). 
(B) Section 30C(e) is amended by adding 
at the end the following: 
‘‘(7) REFERENCE.—For purposes of this sec-
tion, any reference to section 179A shall be treated 
as a reference to such section as in effect imme-
diately before its repeal.’’. 
(C) Section 62(a) is amended by striking 
paragraph (14). 
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(D) Section 263(a)(1) is amended by strik-
ing subparagraph (H). 
(E) Section 280F(a)(1) is amended by 
striking subparagraph (C). 
(F) Section 312(k)(3) is amended by strik-
ing ‘‘179A,’’ each place it appears. 
(G) Section 1016(a) is amended by strik-
ing paragraph (24). 
(H) Section 1245(a) is amended by strik-
ing ‘‘179A,’’ each place it appears in para-
graphs (2)(C) and (3)(C). 
(36) QUALIFIED
DISASTER
EXPENSES.—Part 
VI of subchapter A of chapter 1 is amended by 
striking section 198A (and by striking the item re-
lating to such section in the table of sections for 
such part). 
(37) ACTIVITIES NOT ENGAGED IN FOR PROF-
IT.—Section 183(e)(1) is amended by striking the 
last sentence. 
(38) DOMESTIC PRODUCTION ACTIVITIES.— 
(A) Subsection (a) of section 199 is 
amended by striking paragraph (2) and by 
striking ‘‘IN
GENERAL.—’’, by redesignating 
subparagraphs (A) and (B) of paragraph (1) as 
paragraphs (1) and (2), and by moving para-
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graphs (1) and (2) (as so redesignated) 2 ems 
to the left. 
(B) Paragraphs (2) and (6)(B) of section 
199(d) 
are 
each 
amended 
by 
striking 
‘‘(a)(1)(B)’’ and inserting ‘‘(a)(2)’’. 
(39) RETIREMENT SAVINGS.— 
(A) Subparagraph (A) of section 219(b)(5) 
is amended to read as follows: 
‘‘(A) 
IN
GENERAL.—The 
deductible 
amount is $5,000.’’. 
(B) Clause (ii) of section 219(b)(5)(B) is 
amended to read as follows: 
‘‘(ii) APPLICABLE AMOUNT.—For pur-
poses of clause (i), the applicable amount 
is $1,000.’’. 
(C) Paragraph (5) of section 219(b) is 
amended by striking subparagraph (C) and by 
redesignating subparagraph (D) as subpara-
graph (C). 
(D) Clause (ii) of section 219(g)(2)(A) is 
amended by striking ‘‘for a taxable year begin-
ning after December 31, 2006’’. 
(E) Section 219(g)(3)(B) is amended by 
striking clauses (i) and (ii) and inserting the 
following: 
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‘‘(i) In the case of a taxpayer filing a 
joint return, $80,000. 
‘‘(ii) In the case of any other taxpayer 
(other than a married individual filing a 
separate return), $50,000.’’. 
(F) Paragraph (8) of section 219(g) is 
amended by striking ‘‘the dollar amount in the 
last row of the table contained in paragraph 
(3)(B)(i), the dollar amount in the last row of 
the table contained in paragraph (3)(B)(ii), and 
the dollar amount contained in paragraph 
(7)(A),’’ and inserting ‘‘each of the dollar 
amounts in paragraphs (3)(B)(i), (3)(B)(ii), 
and (7)(A)’’. 
(40) REPORTS
REGARDING
QUALIFIED
VOL-
UNTARY RETIREMENT CONTRIBUTIONS.— 
(A) Section 219 is amended by striking 
paragraph (4) of subsection (f) and subsection 
(h). 
(B) Section 6652 is amended by striking 
subsection (g). 
(41) INTEREST ON EDUCATION LOANS.—Para-
graph (1) of section 221(b) is amended by striking 
‘‘shall not exceed’’ and all that follows and inserting 
‘‘shall not exceed $2,500.’’. 
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(42) DIVIDENDS RECEIVED ON CERTAIN PRE-
FERRED STOCK; AND DIVIDENDS PAID ON CERTAIN 
PREFERRED STOCK OF PUBLIC UTILITIES.— 
(A) Sections 244 and 247 are hereby re-
pealed, and the table of sections for part VIII 
of subchapter B of chapter 1 is amended by 
striking the items relating to sections 244 and 
247. 
(B) Paragraph (5) of section 172(d) is 
amended to read as follows: 
‘‘(5) COMPUTATION OF DEDUCTION FOR DIVI-
DENDS RECEIVED.—The deductions allowed by sec-
tion 243 (relating to dividends received by corpora-
tions) and 245 (relating to dividends received from 
certain foreign corporations) shall be computed with-
out regard to section 246(b) (relating to limitation 
on aggregate amount of deductions).’’. 
(C) Paragraph (1) of section 243(c) is 
amended to read as follows: 
‘‘(1) IN GENERAL.—In the case of any dividend 
received from a 20-percent owned corporation, sub-
section (a)(1) shall be applied by substituting ‘80 
percent’ for ‘70 percent’.’’. 
(D) Section 243(d) is amended by striking 
paragraph (4). 
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(E) Section 246 is amended— 
(i) by striking ‘‘, 244,’’ in subsection 
(a)(1), 
(ii) in subsection (b)(1)— 
(I) 
by 
striking 
‘‘sections 
243(a)(1), and 244(a),’’ the first 
place it appears and inserting ‘‘section 
243(a)(1)’’, 
(II) by striking ‘‘244(a),’’ the 
second place it appears, and 
(III) by striking ‘‘subsection (a) 
or (b) of section 245, and 247,’’ and 
inserting ‘‘and subsection (a) or (b) of 
section 245,’’, and 
(iii) by striking ‘‘, 244,’’ in subsection 
(c)(1). 
(F) Section 246A is amended by striking 
‘‘, 244,’’ both places it appears in subsections 
(a) and (e). 
(G) Sections 263(g)(2)(B)(iii), 277(a), 
301(e)(2), 469(e)(4), 512(a)(3)(A), subpara-
graphs (A), (C), and (D) of section 805(a)(4), 
805(b)(5), 
812(e)(2)(A), 
815(c)(2)(A)(iii), 
832(b)(5), 833(b)(3)(E), and 1059(b)(2)(B) are 
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each amended by striking ‘‘, 244,’’ each place 
it appears. 
(H) Section 1244(c)(2)(C) is amended by 
striking ‘‘244,’’. 
(I) Section 805(a)(4)(B) is amended by 
striking ‘‘, 244(a),’’ each place it appears. 
(J) Section 810(c)(2)(B) is amended by 
striking ‘‘244 (relating to dividends on certain 
preferred stock of public utilities),’’. 
(K) The amendments made by this para-
graph shall not apply to preferred stock issued 
before October 1, 1942 (determined in the same 
manner as under section 247 of the Internal 
Revenue Code of 1986 as in effect before its re-
peal by such amendments). 
(43) 
ORGANIZATION
EXPENSES.—Section 
248(c) is amended by striking ‘‘beginning after De-
cember 31, 1953,’’ and by striking the last sentence. 
(44) BOND
REPURCHASE
PREMIUM.—Section 
249(b)(1) is amended by striking ‘‘, in the case of 
bonds or other evidences of indebtedness issued after 
February 28, 1913,’’. 
(45) AMOUNT
OF
GAIN
WHERE
LOSS
PRE-
VIOUSLY DISALLOWED.—Section 267(d) is amended 
by striking ‘‘(or by reason of section 24(b) of the In-
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ternal Revenue Code of 1939)’’ in paragraph (1), by 
striking ‘‘after December 31, 1953,’’ in paragraph 
(2), by striking the second sentence, and by striking 
‘‘or by reason of section 118 of the Internal Revenue 
Code of 1939’’ in the last sentence. 
(46) ACQUISITIONS MADE TO EVADE OR AVOID 
INCOME TAX.—Paragraphs (1) and (2) of section 
269(a) are each amended by striking ‘‘or acquired 
on or after October 8, 1940,’’. 
(47) MEALS
AND
ENTERTAINMENT.—Para-
graph (3) of section 274(n) is amended— 
(A) by striking ‘‘(A) IN GENERAL.—’’, 
(B) by striking ‘‘substituting ‘the applica-
ble percentage’ for’’ and inserting ‘‘substituting 
‘80 percent’ for’’, and 
(C) by striking subparagraph (B). 
(48) INTEREST ON INDEBTEDNESS INCURRED 
BY CORPORATIONS TO ACQUIRE STOCK OR ASSETS 
OF ANOTHER CORPORATION.— 
(A) Section 279 is amended— 
(i) by striking ‘‘after December 31, 
1967,’’ in subsection (a)(2), 
(ii) by striking ‘‘after October 9, 
1969,’’ in subsection (b), 
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(iii) by striking ‘‘after October 9, 
1969, and’’ in subsection (d)(5), and 
(iv) by striking subsection (i) and re-
designating subsection (j) as subsection (i). 
(B) The amendments made by this para-
graph shall not— 
(i) apply to obligations issued on or 
before October 9, 1969 (determined in the 
same manner as under section 279 of the 
Internal Revenue Code of 1986 as in effect 
before such amendments), and 
(ii) be construed to require interest on 
obligations issued on or before December 
31, 1967, to be taken into account under 
section 279(a)(2) of such Code (as in ef-
fect after such amendments). 
(49) BANK HOLDING COMPANIES.— 
(A) Clause (iii) of section 304(b)(3)(D) is 
repealed. 
(B) The heading of subparagraph (D) of 
section 304(b)(3) is amended by striking ‘‘AND 
SPECIAL RULE’’. 
(50) EFFECT
ON
EARNINGS
AND
PROFITS.— 
Subsection (d) of section 312 is amended by striking 
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paragraph (2) and redesignating paragraph (3) as 
paragraph (2). 
(51) DISQUALIFIED STOCK.—Paragraph (3) of 
section 355(d) is amended by striking ‘‘after Octo-
ber 9, 1990, and’’ each place it appears. 
(52) BASIS TO CORPORATIONS.—Section 362 is 
amended by striking ‘‘on or after June 22, 1954’’ in 
subsection (a) and by striking ‘‘, on or after June 
22, 1954,’’ each place it appears in subsection (c). 
(53) TEMPORARY
WAIVER
OF
MINIMUM
RE-
QUIRED
DISTRIBUTION.—Section 
401(a)(9) 
is 
amended by striking subparagraph (H). 
(54) INDIVIDUAL
RETIREMENT
ACCOUNTS.— 
Clause (i) of section 408(p)(2)(E) is amended to 
read as follows: 
‘‘(i) IN
GENERAL.—For purposes of 
subparagraph 
(A)(ii), 
the 
applicable 
amount is $10,000.’’. 
(55) TAX CREDIT EMPLOYEE STOCK OWNER-
SHIP PLANS.—Section 409 is amended by striking 
subsection (q). 
(56) 
CATCH-UP
CONTRIBUTIONS.—Subpara-
graph (B) of section 414(v)(2) is amended to read 
as follows: 
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‘‘(II)(i) In the case of an applicable em-
ployer plan other than a plan described in sec-
tion 401(k)(11) or 408(p), the applicable dollar 
amount is $5,000. 
‘‘(ii) In the case of an applicable employer 
plan described in section 401(k)(11) or 408(p), 
the applicable dollar amount is $2,500.’’. 
(57) EMPLOYEE
STOCK
PURCHASE
PLANS.— 
Section 423(a) is amended by striking ‘‘after De-
cember 31, 1963,’’. 
(58) PENSION RELATED TRANSITION RULES.— 
(A) Section 402(g)(1)(B) is amended by 
striking ‘‘shall be’’ and all that follows and in-
serting ‘‘is $15,000.’’. 
(B)(i) 
Subparagraph 
(D) 
of 
section 
417(e)(3) is amended— 
(I) by striking clauses (ii) and (iii), 
(II) by striking ‘‘if—’’ and all that 
follows through ‘‘section 430(h)(2)(D)’’ 
and inserting ‘‘if section 430(h)(2)(D)’’, 
and 
(III) by striking ‘‘described in such 
section,’’ and inserting ‘‘described in such 
section.’’. 
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(ii) Clause (iii) of section 205(g)(3)(B) of 
the Employee Retirement Income Security Act 
of 1974 (29 U.S.C. 1055(g)(3)(B)) is amend-
ed— 
(I) by striking subclauses (II) and 
(III), 
(II) by striking ‘‘if—’’ and all that 
follows through ‘‘section 303(h)(2)(D)’’ 
and inserting ‘‘if section 303(h)(2)(D)’’, 
and 
(III) by striking ‘‘described in such 
section,’’ and inserting ‘‘described in such 
section.’’. 
(C)(i) Paragraph (5) of section 430(c) is 
amended by striking subparagraph (B) and by 
striking ‘‘(A) IN GENERAL.—’’. 
(ii) Paragraph (5) of section 303(c) of the 
Employee Retirement Income Security Act of 
1974 (29 U.S.C. 1082(c)) is amended by strik-
ing subparagraph (B) and by striking ‘‘(A) IN 
GENERAL.—’’. 
(D)(i) Paragraph (2) of section 430(h) is 
amended by striking subparagraph (G). 
(ii) Paragraph (2) of section 303(h) of the 
Employee Retirement Income Security Act of 
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1056(g)) is amended by striking paragraph 
(11). 
(H) Section 457(e)(15)(A) is amended by 
striking ‘‘shall be’’ and all that follows and in-
serting ‘‘is $15,000.’’. 
(59) LIMITATION
ON
DEDUCTIONS
FOR
CER-
TAIN FARMING.— 
(A) Section 464 is amended by striking 
‘‘any farming syndicate (as defined in sub-
section (c))’’ both places it appears in sub-
sections (a) and (b) and inserting ‘‘any tax-
payer to whom subsection (d) applies’’. 
(B)(i) Subsection (c) of section 464 is 
hereby moved to the end of section 461 and re-
designated as subsection (j). 
(ii) Such subsection (j) is amended— 
(I) by striking ‘‘For purposes of this 
section’’ in paragraph (1) and inserting 
‘‘For purposes of subsection (i)(4)’’, and 
(II) by adding at the end the fol-
lowing new paragraphs: 
‘‘(3) FARMING.—For purposes of this sub-
section, the term ‘farming’ has the meaning given to 
such term by section 464(e). 
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‘‘(4) LIMITED ENTREPRENEUR.—For purposes 
of this subsection, the term ‘limited entrepreneur’ 
means a person who— 
‘‘(A) has an interest in an enterprise other 
than as a limited partner, and 
‘‘(B) does not actively participate in the 
management of such enterprise.’’. 
(iii) Paragraph (4) of section 461(i) is 
amended by striking ‘‘section 464(c)’’ and 
inserting ‘‘subsection (j)’’. 
(C) Section 464 is amended— 
(i) by striking subsections (e) and (g) 
and redesignating subsections (d) and (f) 
as subsections (c) and (d), respectively, 
and 
(ii) by adding at the end the following 
new subsection: 
‘‘(e) FARMING.—For purposes of this section, the 
term ‘farming’ means the cultivation of land or the raising 
or harvesting of any agricultural or horticultural com-
modity including the raising, shearing, feeding, caring for, 
training, and management of animals. For purposes of the 
preceding sentence, trees (other than trees bearing fruit 
or nuts) shall not be treated as an agricultural or horti-
cultural commodity.’’. 
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(D) Subsection (d) of section 464 of such 
Code (as redesignated by subparagraph (C)) is 
amended— 
(i) by striking paragraph (1) and re-
designating paragraphs (2), (3), and (4) as 
paragraphs (1), (2), and (3), respectively, 
and 
(ii) by striking ‘‘SUBSECTIONS (A) 
AND (B) TO APPLY TO’’ in the heading. 
(E) Subparagraph (A) of section 58(a)(2) 
is amended by striking ‘‘section 464(c)’’ and in-
serting ‘‘section 461(j)’’. 
(60) DEDUCTIONS
LIMITED
TO
AMOUNT
AT 
RISK.—Subparagraph (A) of section 465(c)(3) is 
amended by striking ‘‘In the case of taxable years 
beginning after December 31, 1978, this’’ and in-
serting ‘‘This’’. 
(61) PASSIVE ACTIVITY LOSSES AND CREDITS 
LIMITED.— 
(A) Section 469 is amended by striking 
subsection (m). 
(B) Subsection (b) of section 58 is amend-
ed by adding ‘‘and’’ at the end of paragraph 
(1), by striking paragraph (2), and by redesig-
nating paragraph (3) as paragraph (2). 
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(62) ADJUSTMENTS REQUIRED BY CHANGES IN 
METHOD
OF
ACCOUNTING.—Section 481(b)(3) is 
amended by striking subparagraph (C). 
(63) EXEMPTION FROM TAX ON CORPORATIONS, 
CERTAIN TRUSTS, ETC.—Section 501 is amended by 
striking subsection (s). 
(64) REQUIREMENTS FOR EXEMPTION.— 
(A) Section 503(a)(1) is amended to read 
as follows: 
‘‘(1) GENERAL
RULE.—An organization de-
scribed in paragraph (17) or (18) of section 501(c), 
or described in section 401(a) and referred to in sec-
tion 4975(g) (2) or (3), shall not be exempt from 
taxation under section 501(a) if it has engaged in a 
prohibited transaction.’’. 
(B) Paragraph (2) of section 503(a) is 
amended by striking ‘‘described in section 
501(c)(17) or (18) or paragraph (a)(1)(B)’’ and 
inserting ‘‘described in paragraph (1)’’. 
(C) Subsection (c) of section 503 is 
amended by striking ‘‘described in section 
501(c)(17) or (18) or subsection (a)(1)(B)’’ and 
inserting ‘‘described in subsection (a)(1)’’. 
(65) ACCUMULATED TAXABLE INCOME.—Para-
graph (1) of section 535(b) and paragraph (1) of 
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section 545(b) are each amended by striking ‘‘sec-
tion 531’’ and all that follows and inserting ‘‘section 
531 or the personal holding company tax imposed by 
section 541.’’. 
(66) DEFINITION
OF
PROPERTY.—Subsection 
(b) of section 614 is amended— 
(A) by striking paragraphs (3)(C) and (5), 
and 
(B) in paragraph (4), by striking ‘‘which-
ever of the following years is later: The first 
taxable year beginning after December 31, 
1963, or’’. 
(67) AMOUNTS RECEIVED BY SURVIVING ANNU-
ITANT UNDER JOINT AND SURVIVOR ANNUITY CON-
TRACT.—Subparagraph (A) of section 691(d)(1) is 
amended by striking ‘‘after December 31, 1953, 
and’’. 
(68) INCOME TAXES OF MEMBERS OF ARMED 
FORCES ON DEATH.—Section 692(a)(1) is amended 
by striking ‘‘after June 24, 1950’’. 
(69) SPECIAL
RULES
FOR
COMPUTING
RE-
SERVES.—Paragraph (7) of section 807(e) is amend-
ed by striking subparagraph (B) and redesignating 
subparagraph (C) as subparagraph (B). 
(70) INSURANCE COMPANY TAXABLE INCOME.— 
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(A) Section 832(e) is amended by striking 
‘‘of taxable years beginning after December 31, 
1966,’’. 
(B) Section 832(e)(6) is amended by strik-
ing ‘‘In the case of any taxable year beginning 
after December 31, 1970, the’’ and inserting 
‘‘The’’. 
(71) CAPITALIZATION OF CERTAIN POLICY AC-
QUISITION EXPENSES.—Section 848 is amended by 
striking subsection (j). 
(72) TAX
ON
NONRESIDENT
ALIEN
INDIVID-
UALS.—Subparagraph (B) of section 871(a)(1) is 
amended to read as follows: 
‘‘(II) gains described in subsection (b) or 
(c) of section 631,’’. 
(73) LIMITATION ON CREDIT.—Paragraph (2) 
of section 904(d) is amended by striking subpara-
graph (J). 
(74) FOREIGN EARNED INCOME.—Clause (i) of 
section 911(b)(2)(D) is amended to read as follows: 
‘‘(i) IN
GENERAL.—The exclusion 
amount for any calendar year is $80,000.’’. 
(75) BASIS OF PROPERTY ACQUIRED FROM DE-
CEDENT.— 
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(A) Section 1014(a)(2) is amended to read 
as follows: 
‘‘(2) in the case of an election under section 
2032, its value at the applicable valuation date pre-
scribed by such section,’’. 
(B) Section 1014(b) is amended by strik-
ing paragraphs (7) and (8). 
(76) ADJUSTED
BASIS.—Section 1016(a) is 
amended by striking paragraph (12). 
(77) PROPERTY ON WHICH LESSEE HAS MADE 
IMPROVEMENTS.—Section 1019 is amended by strik-
ing the last sentence. 
(78) 
INVOLUNTARY
CONVERSION.—Section 
1033 is amended by striking subsection (j) and by 
redesignating subsections (k) and (l) as subsections 
(j) and (k), respectively. 
(79) PROPERTY
ACQUIRED
DURING
AFFILI-
ATION.—Section 1051 is hereby repealed, and the 
table of sections for part IV of subchapter O of 
chapter 1 is amended by striking the item relating 
to section 1051. 
(80) CAPITAL
GAINS
AND
LOSSES.—Section 
1222 is amended by striking the last sentence. 
(81) HOLDING PERIOD OF PROPERTY.— 
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(A) Paragraph (1) of section 1223 is 
amended by striking ‘‘after March 1, 1954,’’. 
(B) Paragraph (4) of section 1223 is 
amended by striking ‘‘ ‘(or under so much of 
section 1052(c) as refers to section 113(a)(23) 
of the Internal Revenue Code of 1939)’ ’’. 
(C) Paragraphs (6) and (8) of section 
1223 are repealed. 
(82) PROPERTY USED IN THE TRADE OR BUSI-
NESS AND INVOLUNTARY CONVERSIONS.—Subpara-
graph (A) of section 1231(c)(2) is amended by strik-
ing ‘‘beginning after December 31, 1981’’. 
(83) SALE OR EXCHANGE OF PATENTS.—Sec-
tion 1235 is amended— 
(A) by striking subsection (c) and by re-
designating subsections (d) and (e) as sub-
sections (c) and (d), respectively, and 
(B) by striking ‘‘subsection (d)’’ in sub-
section (b)(2)(B) and inserting ‘‘subsection 
(c)’’. 
(84) DEALERS IN SECURITIES.—Subsection (b) 
of section 1236 is amended by striking ‘‘after No-
vember 19, 1951,’’. 
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